USC hires new chief investment officer to senior leadership team

Photo of Amy Diamond.
Amy Diamond brings decades of experience from Northwestern University to her new position at USC. Over her 20 years there, she oversaw the university’s endowment and managed Northwestern’s investments and financial portfolio. (Photo courtesy of Amy Diamond)

Amy Diamond will serve as USC’s chief investment officer, the University announced in a news release Tuesday. In her position, Diamond will oversee the Investment Office and USC’s $5.5 billion endowment. She is expected to assume the position Oct. 15. 

Diamond succeeds the University’s first chief investment officer Lisa Mazzacco, who was appointed in 2011. She previously worked at Northwestern University’s Investment Office for more than 20 years as managing director of private investments and real assets. Diamond also served as a senior team member overseeing Northwestern’s $11 billion endowment. 

“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 the news release. “I look forward to helping build upon the success that the investment office has achieved in support of USC’s mission.”

Diamond will also serve as part of President Carol Folt’s senior leadership team and work alongside Chief Financial Officer James Staten. In her position, she will also advise the Board of Trustees investment committee. 

At Northwestern, Diamond served on advisory boards for more than 35 investment managers and held leadership positions in annual asset allocation and risk management. Alongside her various roles, Diamond also worked closely with Northwestern’s financial operations on liquidity planning and in the university’s sale of pharmaceutical patent royalty interests. She also served as a founding board member of Lending for Evanston and Northwestern Development, a student-run nonprofit that allocates microloans and training to small businesses. 

Before her tenure at Northwestern, Diamond worked as an equity research analyst and led investment banking coverage for companies in energy industries and health care services. 

“Amy Diamond is well known for her leadership in higher education investment,” Folt said in the release. “Her ability to navigate the complexities of portfolio management will help ensure a financially sustainable future for the USC community.”