University of Chicago Receives $3.5 Million for Professorship

University of Chicago Receives $3.5 Million for Professorship

The University of Chicago Booth School of Business has announced a $3.5 million gift from alumnus Frank Diassi ('60) and his late wife, Marianne, to endow a professorship.

Made out of gratitude for the education he received at Chicago Booth — where Diassi studied with Milton Friedman and two other Nobel laureates in economics — the gift will fund the Frank P. and Marianne R. Diassi Distinguished Service Professorship. The gift was matched by another Chicago Booth alumnus who wishes to remain anonymous. Erik Hurst, deputy director of the Becker Friedman Institute for Economics and the John E. Jeuck Faculty Fellow, has been named the inaugural Diassi Distinguished Professor.

Diassi received his bachelor's degree in chemistry from Rutgers University, joined the Air Force, and served as a senior business unit manager at Conoco Oil before earning his MBA from Chicago Booth. He later bought a Conoco division that made pharmaceutical gelatin, went into the private equity business, and currently owns Unicorn HRO, a software business in the HRO payroll sector, and the Unicorn Group, a real estate company.

"Look, you have to give back to the institution that made you successful and ensure that it's still producing people who will make this country great — we need that," said Diassi. "Chicago is a fantastic school. I could never have accomplished what I have without the understanding and teachings of the University of Chicago."

"Gift to Support Extraordinary Faculty in Economics." University of Chicago Press Release 02/20/2020.