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Today New City Initiative is comprised of 43 leading independent asset management firms from the UK and the Continent, managing approximately £500 billion and employing several thousand people.

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Published by Toby Illingworth


Nine young men and women this week started a two-week summer internship programme organised and funded by New City Initiative (NCI), the association of 45 asset and wealth managers based in the City of London and Paris. The paid internships are supported by some of NCI’s leading member firms, who collectively account for some £400 billion in assets under management.

The nine undergraduates kicked off with a day of seminars by senior figures from NCI member firms, including Somerset Capital, Stanhope Capital, Oldfield Partners, and Mayfair Capital. The students, all academic high-achievers, are studying at the Universities of Central Lancashire, Leeds, Warwick, and York. Their final day is on 11 July, when they will receive coaching advice on how to build their City careers from  Panda Morgan Thomas, a leading City executive recruitment specialist, the founder and Managing Partner of 33 St James.

The nine students are: Louise Hatem; Justyn Lawson; Nikita Jevtechov; Annabelle May Purchase; Mohamed Mohamed; Ronak Shah; Michael Smith; Kavita Vaja; and Matthew Wong. The intern places are being provided by Dalton Strategic Partnership, Oldifled Partners, Stanhope Capital, 2CG Senhouse, Stonehage Investment Partners, and Troy Asset Management.

Gary Mead, Executive Director of NCI, said: “This is a great and potentially life-changing opportunity for the interns. For NCI member firms it’s a chance to talent-spot future asset management stars. It’s also a demonstration that small-to-medium boutique owner-managed firms are intent on putting something back. The NCI espouses old-fashioned City values – supporting young people to gain a rung on the ladder is the right thing to do, and I hope we are able to expand the intern programme further.”