Cambridge Associates Opens Italian Office and Expands European Leadership

Global investment firm Cambridge Associates (CA) today announced the opening of a new office in Milan and the appointment of two senior hires in Europe. The move reflects the firm’s ongoing commitment to providing bespoke services to current and future institutional and family office investors across the region.

Raphael Heynold has joined the Client Solutions team as Head of EMEA and APAC and will serve on the firm’s EMEA Operating Committee. Based in London, Raphael is a key member of the Global Client Solutions Leadership team, responsible for driving growth and market expansion and overseeing client engagement efforts across Europe, the Middle East, and Asia Pacific regions. Heynold brings more than 30 years of experience across client strategy, investment banking and investment management, and has worked with many sophisticated families and institutions around the world.

Riccardo Pianeti has joined Cambridge Associates to lead the Italian office. He will serve as Head of the Milan office and as a Managing Director at the firm. Pianeti has more than 14 years of experience as an investment advisor and portfolio specialist, serving clients globally with a particular focus on Italy. At CA, he leads the firm’s presence in Italy, providing investment advisory services in asset allocation, portfolio construction, and investment governance.

“Having a presence on the ground in Milan is a natural next step in Cambridge Associates’ longstanding work with Italian clients,” said Alex Koriath, EMEA Regional Head at Cambridge Associates. “The office will build on our established relationships by providing an additional local point of connection and support. Italy continues to be an important market for the firm, and our local presence will help us deepen relationships with institutions across Italy and Southern Europe even more. Riccardo and Raphael bring extensive experience that will strengthen our client service and regional growth.”

For more than 25 years, Cambridge Associates has served Italian investors providing strategic advice and bespoke investment solutions tailored to their needs. Establishing an office in Milan is an important step in the firm’s continued commitment to Italy and the broader Southern European region. The firm will host a celebration for the new office opening this October for clients and friends of the firm.

These developments are a continuation of the firm’s investment in EMEA. In 2020, Cambridge Associates opened its doors to an office in Munich, in 2024 completed the acquisition of a Zurich-based alternative investment specialist, and opened an office in Dubai in 2025. Learn more about how the firm is serving pensions, endowments, foundations, and family offices here.

About Cambridge Associates

Cambridge Associates is a global investment firm. The firm works with private clients, pension plans, insurance, endowments & foundations, and healthcare systems to implement and manage custom investment portfolios that seek to generate outperformance so they can maximize their impact on the world. With 50+ years of institutional investing experience, the firm has helped to shape and implement investment best practices and built strong global investment networks with the purpose of driving outperformance for clients. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, staff extension and alternative asset class mandates.

Cambridge Associates has more than 1400 employees located around the globe in offices in Boston; Arlington, VA; Beijing; Dallas; Dubai; Hong Kong; London; Milan; Munich; New York; San Francisco; Singapore; Sydney; and Zurich. For more information, please visit www.cambridgeassociates.com.

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