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November 12, 2009

FT: BlueCrest to move 50 staff to Geneva

By Spear's

BlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers.

BlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers.

Founded in 2000 by former JPMorgan traders Bill Reeves and Mike Platt, the $15.5bn firm is the third-largest hedge fund manager in Europe. It is looking to relocate 50 staff.

The new office will be BlueCrest’s largest after its headquarters in London, where it currently employs 300 people.

People close to the fund said increased taxes for high earners and controversial new European financial regulations made it prudent to look beyond the UK.

Many industry experts are doubtful that London’s large hedge funds will change their corporate domicile completely, but BlueCrest’s move may herald a trend for part-relocations.

To read the full story, visit ft.com

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