Alan Howard, co-founder of Jersey-headquartered global macro hedge fund major Brevan Howard Asset Management, is considering relocating from London to Geneva, according to a report by Bloomberg citing sources familiar with the matter.
The billionaire hedge fund manager, who returned to the UK capital seven years ago after previously living in Geneva, may leave within the coming months. However, these plans are still in the early stages and could change, according to Bloomberg’s sources.
A spokesperson for Brevan Howard declined to comment on the potential move.
Howard’s consideration of a return to Switzerland comes amid speculation that the UK’s Labour government, led by Prime Minister Keir Starmer, could introduce new tax increases aimed at the wealthy. Starmer has warned of tough fiscal measures, especially for those with “the broadest shoulders,” following Labour’s victory over the Conservative Party in July’s general election. Howard, a Conservative Party supporter, had donated over £1.5m to the party in recent years.
Brevan Howard, now led by CEO Aron Landy, has undergone significant changes, including cutting fees, closing funds run by prominent traders, and laying off about 100 staff as part of a restructuring effort to manage expenses. The firm currently manages around $34bn, but its two largest hedge funds — Master and Alpha Strategies — have posted YTD losses of 1.8% and 1.6%, respectively, up to the end of August.
