Sunday, 28 August 2016
Last updated 1 day ago
Feb 9 2010 | 9:20am ET
Brevan Howard Asset Management’s new Switzerland office could house as many as 100 staffers seeking to escape higher taxes in the U.K.
Brevan Howard, Europe’s largest hedge fund firm with more than US$27 billion in assets, has acquired office space in Geneva and will open the new office soon, the Financial Times reports. Individual staffers—most of whom are currently based in London—will have the option of moving to Switzerland and working out of the new office.
“BHGH and the manager believe that the Geneva office will be a valuable addition to their global group of investment managers and will provide access to high-quality staff and infrastructure,” Gunther Thomas, CEO of Brevan Howard’s offshore holding company, wrote to investors. “In 2010, it will continue to seek further opportunities to strengthen and diversify its access to talent and resources on a global basis to ensure that all Brevan Howard managed funds remain positioned to exploit trading opportunities.”
It is unclear just how many of the firm’s staff will take advantage of the Geneva opportunity, but the FT reports the new office will be the base for between 50 and 100 traders and staff.