Monday, 29 December 2014
Last updated 58 min ago
Jul 29 2010 | 12:34pm ET
Another major British hedge fund has set up a tax-friendly Alpine retreat. Moore Capital Management has recently opened an office in Zurich, Switzerland. One portfolio manager has already moved to the Swiss office, and others may follow.
Kornelius Klobucar has been moved from London to the new office, Financial News reports. But Klobucar, who has been with Moore for three years, is unlikely to be the last. The firm is expect to hire staff specifically for the Zurich office, or to move additional personnel there from London.
Moore, which manages US$14 billion and recently opened another office in Hong Kong, has registered a new subsidiary, Moore Cap Switzerland GmbH, in the country. The firm is just the latest London-based firm to open an office in Switzerland, which gives employees a way to escape new, higher taxes in the U.K. and potentially strict hedge fund regulations in the European Union, of which Switzerland is not a member.
Other firms opening Swiss centers include Brevan Howard Asset Management and BlueCrest Capital Management.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.