Brevan Howard May Quit London

Apr 21 2008 | 9:29am ET

London hedge fund giant Brevan Howard has warned the British government that it may move its headquarters to Switzerland as a result of proposed tax changes.

The $22 billion firm, which employs 250 in London, told the Financial Services Association that it may quit the British capital due to uncertainty over taxation, as well as a proposed charge on non-domiciled employees, the Telegraph reports. Five of Brevan Howard’s eight founding partners are reportedly non-domiciled in Britain.

The firm is in talks with several Swiss localities about opening an office, which could quickly be transformed into the firm’s new headquarters.

Brevan Howard is the second major alternative investments firm to consider quitting London for Switzerland. U.S. private equity giant TPG Capital is also mulling the move, also due to the non-domiciled issue. The Telegraph reports that other hedge funds and financial services firm may abandon the City because of the tax changes.

RELATED STORIES

Tax Changes Could Push TPG Out Of London


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of