The Financial Times reports that Brevan Howard is moving some of its most senior traders back to London from Geneva, reversing a high-profile decision by the $27 billion hedge fund to leave the UK and bucking concerns that the City’s status as Europe’s leading hub for the industry was under threat.
Financial Times adds that the decision comes as a number of other large hedge funds are also planning to expand or launch in the British capital, in a sign that international investors continue to gravitate to London.
Hedge fund managers and investors argue that low tax rates have failed to win over traders to the merits of life in Switzerland, with many leaving their families behind in London., says FT.
Traders at a London hedge fund shared almost $129 million in pay and bonuses last year despite
the fund’s faltering performance, the Financial Mail on Sunday said. Accounts for Brevan Howard
Asset Management More…
– Christopher Rokos, who used to be the fair-haired boy of the Brevan Howard hedge fund,
managing a cool $37 billion, is now looking at a five-year, non-compete clause that forbids him going out on his own. More…
– Alan Howard – Brevan Howard Now Europe’s Largest Hedge Fund Alan Howard’s
hedge fund Brevan Howard, which he founded in 2002 with four partners who came
with him from Credit Suisse, has moved to More…