Bluecrest Plans Geneva Office

Nov 13 2009 | 12:51pm ET

Another top London hedge fund is dipping its toes into the cool, low-tax Alpine waters of Switzerland.

Bluecrest Capital may open an office in Geneva, and founder and CEO Mike Platt will spent a lot of time there, Reuters reports. He may even move to Switzerland full-time, although no decision has been made on Platt’s home base.

The US$15.5 billion hedge fund plans to have 50 employees at the Geneva office, either by relocating people from London or by making new hires.

Several British hedge funds, including Brevan Howard Asset Management, Europe’s biggest hedge fund firm, have opened offices in Switzerland in recent months or are planning to. Switzerland has made a push to attract hedge fund firms, taking advantage of fears stoked by proposed European Union hedge fund regulations and new, higher taxes in the U.K.

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