NCI was founded almost a decade ago and now has 46 independent asset management firms under its umbrella.

New City Initiative, an international wealth and asset management think tank, has appointed industry luminary Nick Mottram as chairman. He is taking over from Jamie Carter, chief executive of Oldfield Partners, who will remain on the board.

Sebastian Stewart, head of client services at Somerset Capital Management, will join Susannah de Jager as deputy chairperson.

Mottram is the chairman and global and Asian equities fund manager at Dalton Strategic Partnership, having joined the firm in March 2010. He has over 30 years of investment experience, with other senior roles including founding partner at Origin Asset Management, head of equities at Investec Asset Management and global head of research at Schroder Investment Management. 

In Stewart’s case, he joined Somerset Capital in 2012. He graduated from the University of Edinburgh with a first class degree in mathematics and business studies and is a CFA charter holder.

NCI was founded in 2010 and speaks for owner-managed firms, and aims to give an independent voice on financial regulation and competition. It now has 46 independent asset management firms from the UK and the Continent, managing about £500 billion ($646.6 billion). NCI Singapore was launched in 2019 and currently comprises 11 founding members.