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Cambridge Associates appoints David Druley Chairman and CEO

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David Druley, 49, will become Chairman and Chief Executive Officer of global investment advisor Cambridge Associates effective 1 July, 2016.

Current Chairman and Chief Executive Office Sandra A Urie is stepping down from that role as part of a long-term succession plan she has led with the Board. Philip Walton, 45, will succeed Druley as the firm's President.

Urie, 63, joined Cambridge Associates in 1985 and has led the firm for the past 16 years. She will remain actively involved in an 'of counsel' role, advising the new leadership and the Board. Druley joined Cambridge Associates in 2003. Before becoming President and Head of Global Investments, he headed the firm's global pension practice. Mr. Walton, currently Head of the private client practice, joined Cambridge in 1999.

"I am delighted that David Druley has agreed to lead Cambridge Associates," says Urie. "He has worked with all types of clients and has always demonstrated a laser-like focus on delivering value to them. Based on his visionary leadership of our pension practice, and more recently our Global Investing Group, I am certain he will lead the firm with a continued, unwavering commitment to our clients and the firm."

"I am also pleased that Philip Walton will become President, and continue as Head of our private client practice. He has established himself as a strong leader and collaborator, not only in his work in our private client practice, but also in our private investment group. He will be an instrumental partner to David Druley in guiding the firm forward," says Urie. "After 25 years in various firm leadership roles, I am excited to redirect my efforts and spend even more time meeting with clients to focus on their specific needs. I will also devote energy to an area of great personal interest — the growing opportunity set in impact investing."

Cambridge Associates co-founder and Board member James N Bailey says: "Under Sandy Urie's leadership, Cambridge Associates has successfully advised some of the world's most sophisticated investors, across all asset classes, creating innovative portfolio management solutions. The firm's high client retention rate and growth in discretionary and non-discretionary outsourcing relationships are attributable to her team's commitment to delivering results for clients and sitting on the same side of the table with them as diligent and responsible stewards of their capital.

"Equally notable has been Sandy's focus on talent and succession. The organisation grows and cultivates the right people and capabilities, while preserving a culture that anticipates clients' expanding needs. In that vein, we have great confidence in David Druley's vision and leadership strength and in the teams that support him. We are excited about the future.”

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