In a transition that has been years in the making, Amy Webber will take over from Eric Schwartz as CEO of Cambridge Investment Research. Webber will remain as president and Schwartz will become the firm’s executive chairman of the board.

Webber, president of Cambridge since 2008 and also chief operating officer until 2014, has long been Schwartz' presumed heir apparent. She relinquished her COO title to Ryan Reineke to allow her to focus more on her role as president, and likely to prepare to succeed Schwartz. In 2013, Schwartz began to transfer nearly half of the company's value at the time under his control to company insiders to help preserve the tight-knit culture that has become Cambridge's trademark.

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