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The Latest Breaking News from Somerset Capital Management

Profits in Rees-Mogg’s investment firm halved in year before closure announced

Somerset Capital Management’s profits in year to end of March dropped from £9.1m to £4.2m, accounts show

The Guardian - UK · Apr 11, 2024

Fund manager founded by Sir Jacob Rees-Mogg to close after client withdraws £2b

Somerset Capital Management is in talks to transfer its key UK funds to another firm, but will wind down the wider business

The Independent UK · Dec 7, 2023

Jacob Rees-Mogg admitted profiting from sale of abortion pills

MP acknowledged in 2017 benefitting from investment in pharmaceutical firm in ‘very roundabout way’

The Independent UK · Nov 29, 2022

From analysis to the latest developments in health,
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Sunak criticised for reappointing Jacob Rees-Mogg’s business partner

PM decried for making Tory peer Dominic Johnson a trade minister having only recently sacked him

The Guardian - UK · Nov 25, 2022

Jacob Rees-Mogg's Tory donor pal handed LIFE-long Lords seat for just 26 days in government

Dominic Johnson was brought into the Lords to serve as a Trade Minister - and can now keep his peerage for life, despite being dumped after just 26 days in office

Daily Mirror · Oct 31, 2022

Labour demands probe over top job for Jacob Rees-Mogg's ex-business partner

Critics lashed out at 'cronyism' after Dominic Johnson, who set up Somerset Capital Management with the now-Business Secretary in 2007, was named as a Trade Minister

Daily Mirror · Oct 6, 2022

'Cronyism' anger as Tory donor who set up business with Jacob Rees-Mogg made minister

Dominic Johnson, who co-founded Somerset Capital Management in 2007, has previously rallied against the cap on bankers' bonuses, which was lifted by Chancellor Kwasi Kwarteng in his controversial mini-budget

Daily Mirror · Oct 2, 2022

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Jacob Rees-Mogg in cronyism row after business partner made peer and minister

Dominic Johnson co-founded Somerset Capital Management with business secretary – and is major Tory donor

The Independent UK · Oct 2, 2022

Jacob Rees-Mogg’s business partner given senior ministerial role

City financier who cofounded investment firm with business secretary is made trade minister

The Guardian - UK · Oct 2, 2022

Jacob Rees-Mogg: the fossil fuel fan in charge of cutting UK carbon emissions

Liz Truss has retained Rees-Mogg in cabinet but how did the MP go from anachronistic caricature to business secretary?

The Guardian - UK · Sep 7, 2022

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