(pictured: Sandra Urie)

Sandra Urie is to step down as chair and chief executive of global asset consultant Cambridge Associates after 25 years with the firm, but will remain, at least part-time, working with clients in the role as “chairman emeritus”. She hopes to devote more time to impact investing, which is a personal passion.

Urie is credited in helping to make Cambridge a truly global firm, including with the establishment of an Australian office. In recent years it has also expanded into mainstream asset classes as well as its traditional core business in researching alternatives.

The new chair and chief executive is the current president and head of global investments, David Druley. Cambridge also announced that Philip Walton, the head of private clients, would become president and act as a “partner” to Druley. The changes take place as of July 1.

Urie, 63, joined Cambridge in 1985 and had led the firm since 2000. She said in a statement: “After 25 years in various firm leadership roles, I am excited to redirect my efforts and spend even more time meeting with clients to focus on their specific needs. I will also devote energy to an area of great personal interest – the growing opportunity set in impact investing.”