BlueCrest Capital shipping 50 traders to Geneva to avoid British tax hike
| January 22nd, 2010 | ||
| In an effort to curb employee departures that could result from the recently enacted British 50% income tax levy on high earners, BlueCrest Capital Management is moving 50 of its highest paid traders from London to Geneva. According to a Times article, UK’s third largest fund manager was the first hedge fund to seek refuge in the relatively lower Swiss marginal tax rate of 25% on high earners. Brevan Howard Asset Management is also considering opening an office in Switzerland with approximately 100 traders, says founder Alan Howard. It is forecasted that the April 6th enactment of the British tax hike will lead to an exodus of financial services firms from the traditional financial center of Europe. | ||
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For Detailed Investor Profiles on these Investors, click below: |
BlueCrest Capital Management |
Brevan Howard Asset Management |
Related People: Alan Howard;
Related Entities: BH Global;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings
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