Michael Gould
Lehigh University named Michael Gould as the interim CIO for the institution’s investment office on Wednesday. Interim duties for Gould, previously a director at the $2.2 billion endowment, were effective on August 1.
Kristin Agatone, the university’s CIO since 2016, is leaving in September to become CIO of the $3.7 billion Georgetown University endowment.
“I’m honored to step into the role of Interim Chief Investment Officer at such a pivotal time,” Gould said in a statement. “I look forward to working with our investment team, university leadership, trustees and stakeholders to continue building on the strong foundation in place.”
Lehigh, located in Bethlehem, Pennsylvania, will soon begin a national search for its long-term CIO, according to a statement from the university.
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Gould joined the Lehigh investment office in 2018 as an investment analyst, rising to director in 2022. He was previously a vice president of alternative investments at Citi Private Bank, where he was responsible for investment manager sourcing and due diligence.
He earned a bachelor of science degree in business administration, accounting and finance from the University at Buffalo School of Management.
As of June 30, 2024, Lehigh’s endowment had returned 10.5% over a one-year period and 4.9%, 9.4% and 7.8%, annualized, over the past three, five and 10 years, respectively.
The endowment has a target allocation of 37% to public equity, 30% to private equity, 20% to absolute return, 5% to real estate and 8% to treasuries and cash.
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