ICG reshuffles leadership as strategy changes

The move comes as part of a larger reshuffle with the mezzanine lender's chairman John Manser expected to step down in July to be replaced by Justin Dowley, the current chairman of the audit committee. ICG has also appointed Peter Gibbs, former chief investment officer of Merrill Lynch's investment management activities outside the US, as a non-executive director.

Tom Attwood joined ICG in 1993 and will continue as chairman of the executive committee.

The leadership changes follow a difficult period for ICG, which reported its first loss for 20 years last June, and the company's strategic shift towards broader third-party fund management.

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