Cambridge Associates appointed David Druley chairman and chief executive, effective July 1, 2016. Druley, 49, will replace Sandra Urie as part of a long-term succession plan. Philip Walton, 45, will take over from Druley as president.
Urie has led Cambridge Associates for 16 years and will stay on in an advisory capacity. Druley recently headed the firm’s Global Investment Group, while Walton currently leads the private client practice and will continue in that role.
Urie said she plans to work more closely with clients and to pursue “the growing opportunity set in impact investing.”
Druley, who holds a BBA and an MBA from The University of Texas, Austin, has been with Cambridge Associates since 2003. He previously ran his own investment firm. Walton, a graduate of Williams College and Dartmouth’s Tuck School of Business, joined the firm 17 years ago, after working in investment banking.
Cambridge, founded in 1973, provides investment advice and research to institutional and private clients.
Photo courtesy of Cambridge Associates