David Druley, Cambridge AssociatesConsulting firm Cambridge Associates has named current President and Head of Global Investments David Druley as its chairman and CEO, replacing current chief Sandra Urie.
The succession will be effective July 1, the firm announced Thursday.
“[Druley] has worked with all types of clients and has always demonstrated a laser-like focus on delivering value to them,” Urie said in a statement. “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.”
Urie will step away from the day-to-day operations at the Boston-based firm after 25 years, but will serve as chairman emeritus. She said she will redirect her efforts to spend more time meeting clients and focusing on their specific needs. She will also turn her attention to “an area of great personal interest—the growing opportunity set in impact investing.”
Cambridge Co-Founder James Bailey praised Urie’s leadership during her tenure and her “focus on talent and succession.”
“The organization grows and cultivates the right people and capabilities, while preserving a culture that anticipates clients’ expanding needs,” he continued. “In that vein, we have great confidence in David Druley’s vision and leadership strength and in the teams that support him.”
The firm also said Philip Walton, current head of private client practice, will become president and serve as partner to Druley in guiding the firm.
Druley has been with the firm for 13 years. Prior to his tenure, he managed his own investment management firm for nine years. He holds an MBA from the University of Texas, Austin.