Emerging markets specialist Somerset Capital, which runs around $5bn, is reportedly up for sale, with a management buyout or merger potentially on the cards.
Chief executive Dominic Johnson is exploring options to sell the firm amid plans to step down and move into politics, according to the FT. Reports state that former Conservative Party vice-chair Johnson, who set up Somerset with Business Secretary Jacob Rees-Mogg 15 years ago, will be replaced by current chief operating officer Robert Diggle. Expect further M&A acceleration in wealth management This comes after the boutique fund manager hired advisers from Spencer House earlier this year to "help manage capital structure". Johnson told the FT that the firm's aim has always been ...
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