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.