Cambridge Associates Expands Global Pension Practice
Brian McDonnell Becomes Global Head of Pension Practice, Succeeding David Druley, Who is Now President and Head of Global Investments
BOSTON – (January 11, 2016) – Cambridge Associates, the global investment advisor to institutions and private clients, has expanded the leadership of its global pensions practice, which has experienced significant growth over the past five years.
Brian McDonnell, a Cambridge Associates Managing Director who has served the firm’s pension clients in a senior capacity, has been named Global Head of Pensions. He succeeds David Druley in this role. Mr. Druley has been elevated to President and Head of Global Investments at Cambridge.
“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,” said Mr. Druley. “We are very excited about his new leadership role.” Mr. McDonnell joined Cambridge in 2008 from Parthenon Capital.
In addition, Sona Menon, who joined Cambridge in 2001 and has 19 years of investment experience, has been named Head of North American Pensions, covering the US and Canada. “Sona has served as chief investment officer for a number of North American pensions and has been a committed fiduciary focused on meeting her clients’ investment objectives,” Mr. Druley said.
Alex Koriath, who joined Cambridge in 2014 with more than 15 years of investment experience, remains Head of European Pensions, covering European and the UK. He has spent more than a decade working directly with defined benefit schemes on investment strategy, manager selection and de-risking strategies.
To meet a growing demand for fiduciary management mandates, the pension practice has also added additional risk management specialists in the US and UK. Kevin Harney has joined Cambridge as Head of Pension Risk Management for the US. He was most recently at RiskFirst, a developer of risk management solutions. And Benoit Jacquemont has joined the firm in a similar role as Head of Pension Risk Management in the UK and Europe. He comes from Cardano Risk Management, where he was a senior portfolio manager responsible for the implementation of liability-driven investment strategies and tactical fixed income overlays for fiduciary mandates.
“The addition of Mr. Harney and Mr. Jacquemont reinforces our ability to help pension clients meet all current and future liabilities,” Mr. Druley said.
Said Cambridge Associates Chairman and CEO Sandra A. Urie, “We are pleased that our pension practice is able to serve a growing number of sophisticated plan sponsors who recognize that the usual approaches to meeting liabilities and maintaining funded status may not suffice in today’s environment of low-returns and high valuations. It is exciting to expand and evolve the practice so that clients can benefit from the innovative portfolio management strategies that are increasingly important in delivering the excess returns required by many plans.”