Thursday, 25 August 2016
Last updated 37 min ago
Aug 30 2012 | 11:18am ET
London’s status as a major hedge fund center may be in jeopardy, according to a new poll of British industry players.
Asked where they’d most like base their operations, 462 U.K. investment bankers and hedge fund managers picked Singapore more often than either London or New York. Indeed, 31% told Astbury Marsden that Singapore is the most ideal location, followed by New York at 20% and their own capital, London, at 19%. Indeed, London only narrowly beats out Hong Kong and Dubai, named by 16% and 15% of respondents, respectively.
The recruitment firm pointed to the higher pay and favorable tax and regulatory structures of the city-state.
“In recent years, Singapore has become increasingly competitive in terms of enhancing infrastructure, international trade links, pro-business regulations and massive capital market,” Rivkin Operations’ Satish Bakhda said.