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Hedge fund founder quits UK for Geneva

ALAN Howard, the hedge fund entrepreneur and Conservative Party donor, has quit the country to live and work in Switzerland.

The co-founder of Brevan Howard Asset Management, one of Europe’s largest hedge funds, joins two other fund managers in the company’s Geneva office as part of a bigger exodus out of the City.

The firm acquired offices in Switzerland with capacity for 40 employees in February. It has said previously it has no plans to move its entire London operations elsewhere.

The hedge fund’s listed company BH Macro said in a statement to the stock exchange that Howard “continues in his role as the principal risk taker” for company investments.

Howard has a personal fortune of £875m, according to The Sunday Times, and already owns a home in Switzerland.

BlueCrest, another hedge fund, expects as many as 70 of its 350 staff to be based in Geneva by next year.

Chief executive Michael Platt said in April: "The establishment of the Geneva office...will enhance the group's ability to recruit and retain the best talent in our industry.”