Geneva may be fine for some - but not for all


The bulk of the European industry will not suddenly jump ship from London...

By Neil Wilson

When Alan Howard, top partner at Brevan Howard Asset Management—the biggest hedge fund group in Europe, with assets of more than $31 billion—moved to Geneva, Switzerland, some viewed that step as a significant blow to the prestige of London as a financial center.

Howard's move, which was confirmed in late June, followed news earlier this year that some leading traders at BlueCrest Capital Management—with assets of more than $20 billion—had also moved from London to Geneva. BlueCrest personnel who made the switch included Mike Platt, who manages the BlueCrest Capital International fund, and Leda Braga, manager of