Pang to Lead Expanding Business Unit Helping Families of Institutional Scale; Joins from JP Morgan Private Bank
BOSTON, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Cambridge Associates, a global investment firm, today announced Mary Pang, a wealth management leader with global experience, has joined 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 customized 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 nonprofit organizations 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,” said 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 $100 million. The firm’s other clients include endowments, foundations, pension plans, hospitals and other institutional investors.
“It is exciting to join Cambridge Associates,” Pang said. “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.”
Cambridge Associates’ 55 Private Client investment professionals work with families at various stages of the investment cycle. They help clients build and manage customized investment portfolios, establish governance processes, prepare for generational wealth transfer, educate family members and, when appropriate, invest in line with their values and philanthropic goals. Services include management of either a total or portion of a client’s portfolio, such as alternative asset class mandate, either on a discretionary or non-discretionary basis. For those family offices with extensive in-house resources, Cambridge Associates serves as an extension of their staff to supplement their capabilities.
About Cambridge Associates
Cambridge Associates is a leading global investment firm. We aim to help endowments & foundations, pension plans, and private clients implement and manage custom investment portfolios that generate outperformance so they can maximize their impact on the world. Working alongside its early clients, among them leading university endowments, the firm pioneered the strategy of high-equity orientation and broad diversification, which since the 1980s has been a primary driver of performance for institutional investors. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, and investment advisory services.
Cambridge Associates maintains offices in Boston; Arlington, VA; Beijing; Dallas; London; Menlo Park, CA; New York; San Francisco; Singapore; and Sydney. Cambridge Associates consists of five global investment consulting affiliates that are all under common ownership and control. For more information, please visit www.cambridgeassociates.com.
Contact:
Katarina Wenk-Bodenmiller
Sommerfield Communications
(212) 255-8386
katarina@sommerfield.com