NCI chair Johnson hands over to deputy Carter

Asset management industry has 'changed hugely'

New City Initiative's (NCI) Dominic Johnson has said the asset management industry has "changed hugely" over the past few years, as he prepares to step down as chairman of the regulatory think-tank.

The chief executive of emerging markets specialist Somerset Capital Management co-founded the NCI, which mainly works with boutique asset managers, in 2010 and became chairman in 2014. It now has 52 members across Europe, representing £400bn in assets under management. NCI calls for dual funds regime as post-Brexit solution Johnson (pictured) is stepping down, but will remain on the board, and is handing over the chairman role to deputy chairman Jamie Carter, chief executive of value specialist Oldfield Partners, while Susannah de Jager, chief operating officer of S.W. Mitchell Capita...