Zürich's Octane To Move To London

Nov 1 2010 | 11:57am ET

Here's a feather for the cap of London's hedge fund boosters: Bucking the trend of firms moving in the opposite direction, one fund of hedge funds shop is moving to London… from Switzerland.

Octane Holdings, which was acquired from its management last year by South Africa's Sanlam, will pick up sticks from Zürich and head to the British capital.

"London is still the hub, it's still the place to be," Sanlam Investment Management's Robert Roux told Financial News. "Tax is important, but we are not worried about it."

While few, if any, hedge fund firms have outright relocated from London to Switzerland, several have opened offices in the country to allow their employees to escape higher British taxes, among them Brevan Howard Asset Management, BlueCrest Capital Management and Moore Capital Management. What's more, several high-profile hedge fund managers, including Moore's Philippe Blochet, a co-founder of Brevan Howard, have made plans to move to Switzerland.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.