View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
May 12, 2009

Reuters: Odey AM not abandoning Britain

By Spear's

LONDON (Reuters) – Hedge fund firm Odey Asset Management says it will not abandon Britain, despite government plans for higher taxes on top earners, but will launch a Swiss arm able to avoid tough new European regulation.

LONDON (Reuters) – Hedge fund firm Odey Asset Management says it will not abandon Britain, despite government plans for higher taxes on top earners, but will launch a Swiss arm able to avoid tough new European regulation.

The comment by chief executive David Stewart followed a report in The Sunday Times newspaper the firm was “seriously considering leaving” in response to the government’s move to raise the income tax rate on high earners to 50 percent. “I’m sure we would always have operations in the UK,” Stewart told Reuters in an interview on Monday.

Whether an individual stayed in Britain or moved to another country was a matter “for individuals,” he said, adding: “If you’re a young person and a non-domicile, why on earth would you stay here?”

To read the full story, visit reuters.com

Content from our partners
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024
AP Executive: Your Trusted Global Partner in Wealth Management Recruitment
A League of Their Own

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network