MaryFrances McCourt Named Chief Financial Officer
To: Faculty and Other Academic Appointees
From: Paul Alivisatos, President
Subject: MaryFrances McCourt Named Chief Financial Officer
Date: February 17, 2022
I am pleased to announce that MaryFrances McCourt has been named Chief Financial Officer for the University of Chicago, effective April 18. Reporting to me, MaryFrances will work closely with Deans and Officers, faculty, and senior administrative leaders throughout the University and UChicago Medicine to manage and strengthen the University’s business, financial, and administrative strategies in support of our academic, research, and patient care missions. She will be responsible for Financial Services, Controllership, Treasury/Capital Markets, Human Resources, Information Technology Services, Risk Management, Compliance, Internal Audit, and Shared Services.
An accomplished financial leader with deep experience in higher education, MaryFrances joins us from the University of Pennsylvania, where she is Senior Vice President for Finance and Treasurer. MaryFrances leads the strategic and operational direction of a wide range of areas, including financial systems, accounts payable, payroll, property management, global support services, research services, risk management and insurance, student registration and financial services, and the Treasurer's Office.
She also oversees Penn’s cash and short-term investments and its multi-year financial planning efforts.
MaryFrances has a strong track record of developing and implementing financial solutions to drive strategic priorities and is known as a valuable strategic partner and collaborator to schools and centers across Penn as well as to its health system. Among MaryFrances’ many accomplishments while at Penn, she oversaw the modernization of its financial management systems and processes, developed a comprehensive, long-range planning model, and led programs to expand student access and affordability, strengthen financial stewardship, and enhance compliance.
Before joining Penn in 2016, MaryFrances served as Senior Vice President and Chief Financial Officer at Indiana University. She also previously served in financial management roles for Agilysis, Inc., a diversified enterprise focused on technology and enterprise system solutions. She earned her bachelor’s degree from Duke University and an MBA from Case Western University.
I want to thank Brett Padgett for his leadership and many contributions in serving as Interim Vice President and Chief Financial Officer since July 2021. Among other things, Brett played a critical role in guiding the University to a stronger financial position during a challenging time, and we are fortunate he will serve on MaryFrances’ leadership team as Associate Vice President for Finance.
Please join me in congratulating MaryFrances on her new role and welcoming her to the University.