Sebastian Stewart, a former Partner at Somerset Capital, has joined Pacific Asset Management (PAM) as a Partner and Head of US Institutional Business Development. Based in the £4.5bn independent asset manager’s London office, he will report to Global Head of Institutional Sales, Mary Murphy.
Stewart spent over a decade at Somerset Capital Management, joining the firm in 2012 where he served as Head of Client Services and Deputy Head of Marketing. He was responsible for building institutional client relationships across North America, Europe and Asia, with a particular focus on pension funds, foundations, endowments and other professional investors in the US. Stewart is also Chairman of the Independent Investment Management Initiative, a think tank, lobby group and networking platform representing specialist asset management firms globally.
Somerset Capital, co-founded by British MP Jacob Rees-Mogg and Minister for Investment Dominic Johnson, closed late last year after losing two-thirds of its assets after its largest investor, St James’s Place, severed ties with the firm.