The head of global investment services at institutional investment advisor Cambridge Associates has retired, the firm spokesman confirmed with Private Equity International.
David Shukis, who started at Cambridge Associates in 1989, retired on 30 June, the spokesman said. He began as a managing director of hedge fund research and consulting, then became director of investment manager research in July 2011 and stepped in his most recent position as the head of global investment services in February 2014, according to his LinkedIn profile.
According to the spokesman, Cambridge Associates chairman and chief executive David Druley has taken over Shukis’ responsibilities. Druley became chairman and CEO on 1 July, according to the spokesman.
Shukis’ retirement was announced in January, when the firm promoted three senior-level professionals, including Druley. Druley, who joined the advisor in 2003, was named president and head of global investments in January, to oversee Cambridge Associates’ advisory and consulting practices and research operations. The spokesman said he also assumed the responsibilities of head of global investment services at the same time, as part of the succession plan ahead of Shukis’ retirement. There are currently no plans to hire another head of global investment services, the spokesman said.
Druley had previously been the firm’s global pension practice head. Three months later, in April, he was appointed to his current title of chairman and CEO, according to a statement from the firm at the time.
The other two promotions were Noel O’Neill, who became the head of global investment research, and Steven Nelson, who was named chief operating officer.