Wednesday, 1 October 2014
Last updated 5 hours ago
Apr 11 2012 | 1:30pm ET
Tyrus Capital has all but left London, relocating most of its staff—including its top staff—to Monaco.
Tyrus, the largest European hedge fund launch of 2009, had opened an office in the miniscule principality on the French Riviera last year, giving some staffers the chance to skirt higher British taxes. At the time, it was reported that Tyrus, which has US$1.8 billion in assets, would remain headquarter in London, with both founder Tony Chedraoui and chief operating officer Mark Madden remaining in the British capital.
But both Chedraoui and Madden have moved to Monaco, along with most of Tyrus' staff, Reuters reports. Also making the move were investor relations chief Charles Hopkinson-Woolley and partner Xavier Portes, whose Financial Services Authority registrations have become inactive. In addition, all four have resigned as directors of Tyrus Capital LLP .
According to a regulatory filing for Tyrus Capital Services, Chedraoui is now a resident of Monaco.
The motivation for the move seems to be impending European Union regulations. Monaco, like Switzerland, another popular destination for London hedge fund managers fleeing taxes and regulations, is not a member of the 27-nation bloc.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...