Michael Gould steps into leadership as $2.2 billion endowment begins national search following Agatone’s departure to Georgetown
Lehigh University has tapped investment office insider Michael Gould as interim chief investment officer of its $2.2 billion endowment, marking another link in the ongoing chain of senior-level moves reshaping higher education’s investment landscape.
Gould’s August 1st appointment follows the departure of Kristin Agatone, who concluded a nine-year tenure as Lehigh’s CIO to assume the top investment role at Georgetown University’s larger $3.7 billion endowment. The transition represents a familiar pattern in endowment management, where successful CIOs often leverage institutional performance records to secure positions at larger, more prestigious universities.
The promotion rewards Gould’s seven-year commitment to Lehigh’s investment program, where he has served as director providing analytical support across the investment lifecycle—from initial sourcing and evaluation through ongoing portfolio monitoring. His appointment reflects the institution’s preference for continuity during what President Joseph J. Helble characterized as an “important transition” period.
Gould brings a blend of sell-side and buy-side experience that aligns well with modern endowment management demands. His background at Citi Private Bank, where he oversaw investment manager sourcing and due diligence for both discretionary portfolios and global distribution platforms, provides institutional knowledge of manager selection—a critical competency as endowments increasingly allocate to alternative investments requiring sophisticated due diligence capabilities.
“I am pleased that Mike has agreed to serve as interim chief investment officer,” said Lehigh’s president Joseph J. Helble. “He has been an important part of our investment office team for seven years, and with it brings extensive experience in investment management and a deep understanding of our university’s priorities. I am grateful for his leadership during this important transition and his commitment to safeguarding and growing the university’s investment portfolio in support of our academic mission.”
His earlier experience at PricewaterhouseCoopers adds operational and fiduciary oversight expertise, while dual CFA and CPA credentials signal the technical competencies expected in contemporary endowment leadership roles. This combination of analytical rigor and practical investment experience positions Gould well to maintain portfolio momentum while the university conducts its national search.
The timing of Lehigh’s transition coincides with a particularly dynamic period for endowment management, as institutions navigate persistent inflation concerns, evolving ESG mandates, and shifting alternative investment opportunities. Gould’s interim appointment provides stability as the university assembles a search committee comprising trustees, university leadership, and faculty representatives—a governance structure designed to ensure the next permanent CIO aligns with both fiduciary responsibilities and academic mission priorities.
For a mid-sized endowment like Lehigh’s, maintaining investment office continuity during leadership transitions proves especially critical, as smaller teams have less redundancy to absorb senior departures. Gould’s internal promotion suggests confidence in the existing investment strategy and organizational capabilities, providing reassurance to investment partners and stakeholders during the search process.
