Cambridge Associates has promoted Global Head of Pensions David Druley to firm president and head of global investments as part of a leadership overhaul.
Druley joined the consultancy and outsourced-CIO provider in 2003, and was the founding leader of Cambridge’s pension practice.
Brian McDonnell, previously a managing director, has moved up to succeed Druley as global head of pensions. He joined Cambridge in 2008 after three years at Parthenon Capital.
“Brian has played a key role in developing the pension practice’s team and resources that put us in an excellent position to help them effectively manage their portfolios and generate returns that meet their obligations,” Druley said.
In addition, Sona Menon has been appointed head of North American pensions, with Alex Koriath continuing in his role as head of European pensions.
Meanwhile, Cambridge has also hired two risk management specialists—one on each side of the Atlantic—which the company said would help “meet a growing demand for fiduciary management mandates.”
Kevin Harney has joined as head of US pension risk management from RiskFirst, a risk analytics and reporting tool provider for defined benefit pensions in the US and UK. Benoit Jacquemont has departed Cardano Risk Management to take up the same position for the European business.
Related: ‘Another Lackluster Year’: Market Predictions for 2016 & The Argument for Private Equity