A hybrid dual phaser assembly is disclosed for mounting to an engine camshaft to allow the timing of two sets of cam lobes to be phased independently of one another relative to a crankshaft of the engine. The phaser assembly comprises an electrically operated phaser having intermeshing gears for transmitting torque to the camshaft and a phase control input driven by an electric motor to be mounted coaxially with the camshaft, and a hydraulically operated phaser having vanes movable within arcuate cavities. The cavities of the hydraulically operated phaser are defined in part by an annular member that radially surrounds, and axially overlaps, a gear of the electrically operated phaser, which gear is separate from the annular member and forms radially inner boundary walls of the cavities.