Cambridge Associates has appointed Kristen Tongberg as the new head of its investment strategy office, taking over from Noel O'Neill.
Tongberg, who has been with the firm for two decades, will also join the executive leadership team.
O'Neill is leaving the firm after almost 30 years to work for a family office.
Cambridge Associates manages around $78 billion in assets for institutional and private investors.
The investment strategy office plays a crucial role in creating tailored portfolios for clients, including pensions, endowments, and family offices.
Tongberg plans to spend half of her time managing client portfolios and the other half supporting the firm's outsourced chief investment officers and investment platform.
The firm has transitioned from a traditional consulting model to primarily functioning as an outsourced chief investment officer business.
Family offices present unique challenges and opportunities for investment firms, as their portfolios have become more complex.
Cambridge Associates offers family offices access to a wider range of investment opportunities and the ability to establish enduring relationships with investment managers.
The role of investment strategy leaders like Tongberg is important in navigating the complexities of modern investment management.
Cambridge Associates is well-positioned to adapt and provide tailored solutions to meet the diverse needs of its clients.