University of Chicago names MaryFrances McCourt as Chief Financial Officer

MaryFrances McCourt, an accomplished financial leader with deep experience in higher education, has been named Chief Financial Officer for the University of Chicago. Her appointment is effective April 18.

McCourt currently serves as Senior Vice President for Finance and Treasurer at the University of Pennsylvania. Among her accomplishments, McCourt 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.

At UChicago, McCourt will work with leaders throughout the University and UChicago Medicine to manage and strengthen the University’s business, financial and administrative strategies. She will be responsible for Financial Services, Controllership, Treasury/Capital Markets, Human Resources, Information Technology Services, Risk Management, Compliance, Internal Audit and Shared Services.

“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,” President Paul Alivisatos said. “We look forward to working closely with her to support the University’s academic, research and patient care missions.”

Before joining Penn in 2016, McCourt served as Senior Vice President and Chief Financial Officer at Indiana University. She also served in financial management roles for Agilysis, Inc., a diversified enterprise focused on technology and enterprise system solutions. McCourt earned her bachelor’s degree from Duke University and an MBA from Case Western University.

“I am honored for the opportunity to join the University of Chicago, one of the world’s leading academic institutions,” McCourt said. “I am looking forward to this exciting new challenge and helping the University reach even higher levels of achievement.”

In his message announcing McCourt’s appointment, Alivisatos also thanked Brett Padgett, who has served the University’s Interim Vice President and CFO since July 2021. Alivisatos said Padgett “played a critical role in guiding the University to a stronger financial position during a challenging time.”