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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (63342)	5/5/2010 4:10:31 AM
From: TobagoJack	1 Recommendation Read Replies (1) \| Respond to of 217981

and they are busy getting off the doomed ship, to transform themselves into financial refugees, to seek shelter from mob electorate, gain salvation from democratic tyranny just in in-tray wonder how many are thinking of moving to Hong Kong & Singapore.... Cannot be good for London real estate. bloomberg.com Schools might be the constraining factor in many cases. I note that Chinese International School here in Hong Kong already has an acceptance rate of less than 10%.... SNIP: .....more than 100 bankers, hedge fund managers and wealthy retirees are gathered on a cold March night to plot their escape from Britain. Swiss government officials and Geneva-based financial advisers have come to London to lure rich residents with glowing descriptions of the country’s low taxes, safe streets, private-banking options and convenient ski weekends. “We are here to make it easier for you to come to Switzerland,” says Martin Meyer, head of economic development for the Swiss canton of Valais, which borders Lake Geneva..... London Mayor Boris Johnson estimates that up to 9,000 bankers, hedge fund managers and private-equity executives could leave the city, according to a letter he sent to the Labour government in January. “No matter how much you may dislike the masters of the universe, my friends, there are plenty of other parts of the universe that would welcome them,” Johnson said in a September speech in Birmingham, England. The Institut International de Lancy, a private Anglo-French school in Geneva that charges as much as 21,400 Swiss francs ($20,000) in annual tuition, received 30 applications from children of hedge fund managers in January and February alone, headmaster Norbert Foerster says. It’s not only funds looking at leaving. Broker Tullett Prebon said in December it would allow its 700 employees in London to move to “more certain tax regimes.” Several of Tullett Prebon’s major desks are now planning to move key personnel, the company says. The firm has offices in Hong Kong, New York, Singapore and Tokyo. Geneva has already attracted some of London’s top talent. Alan Howard, co-founder of Brevan Howard Asset Management LLP, Europe’s largest hedge fund firm, has rented office space in Geneva for 60 traders relocating from London. Howard himself is considering joining them, according to investors in the firm’s funds who have been briefed on the matter. BlueCrest Capital Management Ltd., Europe’s third-largest hedge fund firm, has opened a Geneva office for as many as 70 traders and analysts who have worked in London on its two biggest funds. They’re being joined by BlueCrest co-founder Michael Platt and Leda Braga, manager of the $9 billion BlueTrend fund, according to people familiar with the firm’s transitional plans.