Brevan Howard chief to ditch City for Switzerland this year

EUROPE’s largest hedge fund manager, Brevan Howard Asset Management, will see another of its top executives move to Switzerland this year.

Australian co-chief executive Nagi Kawkabani said the decision to leave London is purely a “lifestyle choice”.

But the move will inflame fears that London is becoming a less attractive home for top-earners due to its stringent rules on pay and effective tax rate of 51 per cent on personal income. Brevan Howard has seen a raft of its staff move to Switzerland since opening an office in Geneva in 2009. Last year, Alan Howard, co-founder of the firm, moved there and the asset manager has plans to double its Geneva headcount this year. It has $32.6bn (£20.1bn) in assets under management.