After spending two decades at RTX (formerly known as Raytheon), Robin Diamonte intends to retire March 31, as per an internal memo at the firm. Her deputy chief investment officer, Joseph Fazzino, will step into the chief investment officer role on January 5.
Diamonte has been CIO at RTX since 2004, and successfully navigated the merger of UTIMCO with Raytheon.
Chief Financial Officer Neil Mitchell released the news through a company memo on December 12.
He noted, “Joe has extensive experience across asset classes and market environments, with expertise spanning global equities to fixed income to private credit and more. He’s worked at RTX for more than 17 years, including the last three years as Deputy Chief Investment Officer overseeing more than $100 billion in corporate pension plan assets. His knowledge and dedication will serve our team, our company and our investments well.
“I want to express my appreciation to Robin for all that she’s done for RTX. Her leadership, counsel and sound investment approach have positioned us for long-term stability and success. Her generosity in creating community and belonging and her passion for educating employees on their financial wellbeing have left an enduring mark well beyond our Finance team. I’m grateful that Robin and Joe will work together to ensure a smooth transition.
Please join me in congratulating Joe and in wishing Robin well as she heads to retirement.”
Diamonte is one of the few Chief Investment Officers who was awarded CIO Hall of Fame, a peer-nominated award for CIOs who have contributed to their fund as well as the industry at large in a very significant way. Respected by her peers for having a heart for the beneficiaries and a mind for the corporation, Diamonte has a rare talent of being able to be a proponent for both. Creating avenues for lifetime income has been one of her longtime missions, and she has recently been working on initiatives through the Aspen Institute. From 2013 to 2019, she was a Presidential appointee to the Pension Benefit Guarantee Corporation (PBGC), and chaired the advisory committee for five years. She is also a director at Morningstar, and of the trade group Committee on Investment of Employee Benefit Assets Inc.(CIEBA).
Fazzino was recently recognized as a Markets Group Next Elite, a CIO-nominated distinction as having what it takes to make it to the CIO seat. He has been both deputy CIO and executive director, having worked at the firm for 17 years. Prior to RTX, he was an AVP at Bank of America, and an analyst at JP Morgan. He holds an MBA from the Fordham Gabelli School of Business.
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