Brevan Howard, one of the world’s top hedge fund firms which three years ago moved its main office to lower-tax Geneva, is back hunting for office space in London.
Brevan Howard hedge fund headed by Alan Howard , manages $37 billion in assets under management, is considering taking more than half the office space in a 65,000 square feet development at 7-8 St James’s Square in the heart of London’s plush hedge fund district, three property agents told Reuters.
The offices would replace Brevan’s cheaper 38,000 square foot offices on Baker Street, where nearly half of Brevan’s 400 staff worldwide are still currently located.
They could also provide a home for some of its Swiss-based executives – who include Alan Howard and founding partner Nagi Kawkabani – amid speculation among executives in London and Geneva that some Brevan traders may be disillusioned with life away from London’s swanky restaurants and upmarket shops.
“I’ve heard that some of the traders who made the move out to Geneva have since come to regret that decision,” said one prominent London-based hedge fund investor. “It seems that life in a small city doesn’t always outweigh the tax savings.”
Any such move would be a coup for Britain, which has been trying to position itself as a lower-tax base for entrepreneurs as it battles slow economic growth and a huge budget deficit.
Read more: Reuters