Katy Phoun

Katy Phoun, 48, of Chicago's Lincoln Park neighborhood, passed away peacefully at home on October 11, 2026, following a valiant battle with breast cancer that began in 2011.

Katy was born in Warsaw, Indiana, to Yong K. Phoun and Ky Sou Phoun, owners of Chi-Am Chinese restaurants in Plymouth and North Webster, Indiana. She attended Grace Baptist Christian School, graduated from Wawasee High School, and earned degrees in Economics and Political Science from Indiana University Bloomington.

The passion for finance and economics Katy discovered at Indiana University fueled a 26-year finance career in which she solved problems and delivered solutions for some of the largest transactions and investment funds in the world.

Katy began her career at Prudential Securities in Chicago, where she worked with the firm’s traders to support a wide range of institutional investor clients. Her experience at Prudential provided a platform for her to earn an exciting new career opportunity at Chicago’s largest hedge fund, Citadel Investment Group. Citadel began offering their back and middle office operational support to third parties via their newly formed entity, Citadel Solutions in 2005, and what became a corporate expansion for Citadel was the change Katy leveraged to expand her career trajectory. During the 2008 financial crisis, Katy brought her work ethic, relationships, and process management expertise to the orderly dissolution of assets in the bankruptcy of Lehman Brothers, the largest filing in U.S. history at the time. She continued building world-class processes and leading teams at the rebranded Omnium LLC until their sale to Northern Trust Hedge Fund Services in 2011. Katy finished her career as a Senior Vice President at Northern Trust Integrated Portfolio Services, leading multiple teams as they onboarded, developed, and delivered critical components of the middle and back-office operations for one of the largest hedge funds in the word. Colleagues knew her as an innovator, a problem solver, and a trusted advisor. Her vision and knowledge of client’s needs helped create a proprietary technology tool that changed the way work was performed across the organization. More than a decade later, the tool remains in use, reflecting the quality of her thinking and the enduring value of her contributions.

To the people she worked with, Katy was as much a mentor as a leader. She made a point of knowing people, recognizing their strengths and championing their growth, especially for those who had run into barriers in their own careers. She saw potential in people before they saw it in themselves, and many leaders at Northern Trust credit part of their success to her. She started a working-moms community at the firm, celebrated her colleagues’ personal and professional milestones, and kept showing up with warmth, humor and that unforgettable laugh through years of health challenges.

Katy met her future husband, Scott Bachmann, while attending Indiana University. What began when they signed leases in neighboring apartments for the 1999-2000 school year grew into a lasting partnership and a life built with care, intention, love, and so many incredible experiences that were beyond their biggest dreams. Together they created a home, a family, and most importantly, a wonderful community that surrounded them in Chicago. In 2015, they welcomed their son, Alec, who became Katy's greatest source of joy.

Katy poured her boundless energy, thoughtfulness, and love into motherhood. She created a childhood filled with adventure, opportunity, and unforgettable memories, traveling with Alec, encouraging his interests, providing a whole host of new ones for him to try, and working tirelessly to ensure he experienced all the possibilities life had to offer. She never hesitated to bring out the tiger mom to ensure he studied hard for school and practiced his piano. Yet she balanced that inherent tiger mom side by also being his biggest fan, loudly cheering him on at every school or sports event while simultaneously capturing every moment on her iPhone.

Even as she faced the challenges of cancer, Alec remained her greatest inspiration to keep fighting. While Katy achieved remarkable professional success, those who knew her best understood that her proudest accomplishment was being Alec's mother.

Katy also possessed an extraordinary capacity for friendship and connection. She nurtured deep and lasting relationships, generously sharing her time, wisdom, and support with those she loved. Her mom friends regularly turned to her for advice (especially during summer camp registration season!), ideas, and encouragement. She took great care in creating opportunities for her family and helping others do the same, always thinking ahead and finding ways to make life richer for the people around her.

Outside of work and family, Katy embraced experiences that made life rich. She loved classical and contemporary music, photography, shopping, dining, and cooking. To Katy, food was an expression of love and hospitality. Whether planning a special gathering, discovering a new restaurant, or preparing a meal for family and friends, she found joy in caring for others. Her favorite hobby was to travel, and it seemed her suitcase was always packed, ready for the next adventure, whether it was an extended two week stay in a far-away land or a quick overnight adventure. Her favorite domestic destinations included Faria Beach in California and her home away from home, the urban mecca of New York City. International trips to distant lands like Australia, Belize, the Caribbean, France, Greece, Honduras, Italy, Japan, Mexico, Spain, and Taiwan all created magical memories for her and those lucky enough to accompany her. Her son perhaps described her favorite destination best: "Anywhere with a beach."

Katy leaves behind a legacy of extraordinary love, enduring friendship, resilience, and devotion to her family. She was a respected professional, a loyal friend, a cherished wife, daughter, sister, granddaughter, aunt, cousin, niece, and above-all, a mother whose love truly knew no bounds. The countless lives she touched and the relationships she nurtured will continue to reflect the remarkable person she was.

Katy was the cherished daughter of Yong K. Phoun and Ky Sou Phoun; adored wife of 20 years to Scott Allen Bachmann; beloved mother of Alec Liam Bachmann, age 10; revered sister of Connie (Leo) Selcis of Marietta, Georgia, and Eric (Emily) Phoun of Seattle, Washington; loving aunt, affectionately known as "E.E." to Nicholas Selcis, Elliott and Elijah Phoun, and Abby and Braden Bachmann; and dear sister-in-law of Benjamin and Jane Bachmann.

She was preceded in death by her paternal grandparents Tan Huan Phoun and Lay Inh Phoun, maternal grandparents, Neng Ping Sou and Siang Hao Sou, and her in-laws, Brent Bachmann and Connie Bachmann (Janis Mitchell).

Katy is also survived by a treasured circle of friends who loved her deeply and were grateful to share in her life.

In remembrance of Katy, the family asks that any charitable donations be made to either the Chicago Symphony Orchestra https://chicagosymphony.org/support/make-a-gift/ or Kid’s Bereavement Programing at Gilda’s Club Chicago https://www.gildasclubchicago.org/ways-to-give/donate/.

A service bringing together the many people whose lives were positively impacted by Katy is being planned by the family. Please check back for additional details and updates on scheduling, as her family looks forward to coming together to honor and remember the remarkable life she lived.

Arrangements by Inclusive Funeral Care, 773-318-1305 or www.InclusiveFuneralCare.com.