Dominic Johnson has stepped down from his role of chairman of think-tank New City Initiative.
He will be succeeded by vice chairman and Oldfield Partners’ chief executive Jamie Carter. In turn, his position will be taken on by Susannah de Jager, partner and chief operating officer at SW Mitchell, while Your Credit Union founding director and chairman Jonathon Read has been appointed to the newly created role of policy director.
Johnson (pictured), the founder of Somerset Capital, was named chairman in 2015, and remains a board member of NCI, after completing his term in the top job.
He said: ‘It has been an honour working at the helm of the NCI and I am pleased to be leaving the role in such capable hands. I look forward to continuing my support of the NCI as a member of the board as we continue to advocate the vital role played by boutique asset managers in our economy.’
Johnson’s replacement, Carter, added: ‘First as a board member, and more recently as deputy chairman, it has been a privilege working alongside Dominic as he has led the NCI.
‘The next few years will be important for the boutique asset management industry and I am looking forward to working alongside Susannah, Jonathon and the rest of the team as we seek to amplify our members’ voices and help shape the debate on financial reform and the positioning of the industry post-Brexit.’
Founded in 2010, NCI represents a range of asset and wealth firms, which its members running around £400 billion collectively.