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Amy Diamond Leaves Northwestern for USC CIO Gig
Diamond will replace the University of Southern California’s first-ever CIO, who has been in the role since 2011.
The University of Southern California has hired Amy Diamond, who previously worked in Northwestern University’s investment office, to serve as its new chief investment officer.
USC announced Tuesday that Diamond, who served as managing director of private investments and real assets in Northwestern’s investment office for two decades, will join on October 15.
Diamond will replace Lisa Mazzocco, the $5.5 billion endowment’s first CIO, who had been with the school since 2011, the announcement said. The university did not immediately respond to an email seeking details on where Mazzocco is heading next.
“Amy Diamond is well known for her leadership in higher education investment,” USC president Carol Folt said in a statement. “Her ability to navigate the complexities of portfolio management will help ensure a financially sustainable future for the USC community.”
Diamond joined Northwestern in 2000. While at Northwestern, she held leadership positions in annual asset allocation and risk management, according to the announcement. During her time at the $10.8 billion endowment, she helped to create a co-investment program.
She was a member of the Real Estate Advisory Council at the Kellogg School of Management and was one of the founding board members for Lending for Evanston and Northwestern Development, a student nonprofit providing micro-loans to community businesses, the announcement said.
Before joining Northwestern, Diamond worked as an equity research analyst covering the energy and health care services industry for several investment banks, the announcement said.
“While it is difficult to say goodbye to the Northwestern family, it is a great honor and privilege to join the leadership team at one of the world’s top private research universities,” Diamond said in a statement. “I look forward to helping build upon the success that the investment office has achieved in support of USC’s mission.”
[II Deep Dive: Northwestern’s Endowment Shrinks Following University Budget Woes]
Northwestern University’s endowment now has two investment team roles to fill.
In August, the school's chief investment officer, William McLean, announced he will leave in October for a CIO job at the University of Richmond starting next year. At the time, Northwestern said that an interim vice president and CIO would be announced during the fall.