Cambridge Associates has appointed Mary Pang, a wealth management leader with global experience, as Global Head of its Private Client Practice.
Pang is responsible for leading Cambridge Associates’ extensive business serving and investing on behalf of families with institutional-scale assets in the Americas, Europe, Asia-Pacific and Middle East. The practice helps clients build customised portfolios based on their unique investment objectives, risk tolerances, tax considerations and generational and philanthropic goals. Heather Jablow, Head of the Private Client Practice in the Americas, served as interim Global Head of the Practice since May 2017.
Pang, based in San Francisco, comes to the firm from JP Morgan Private Bank, where she was a Managing Director and Senior Banker and led the team serving families, business owners and non-profit organisations in Northern California and Hawaii. Previously, Pang held leadership positions at Goldman Sachs and Citi Private Bank in New York, and UBS Investment Bank and Bankers Trust in London.
“Our clients at Cambridge Associates will benefit significantly from Mary’s broad leadership and management experience in overseeing billions in client assets while advising family offices, principals of multi-generational family-owned businesses, and private equity and venture capital partners,” says David Druley, Chief Executive Officer of Cambridge Associates. “She will be a tremendous asset in the development of our business around the world.”
Approximately a quarter of Cambridge Associates’ clients are private clients — single-family offices, families and individuals – with assets greater than USD100 million. The firm’s other clients include endowments, foundations, pension plans, hospitals and other institutional investors.
“It is exciting to join Cambridge Associates,” Pang says. “The firm’s independent stature and organic growth strategy align well with the best interests of its family clients. The fact that Cambridge Associates does not have any proprietary product and does not accept fees from the funds it recommends and invests in, allows for the alignment of objectives to the clients of the firm. It ensures that the decisions made for client portfolios are designed to achieve those clients’ financial goals and no-one else’s.”