23 November 2019

In the wake of the GFC, and again after the June 2016 Brexit referendum, many fund managers left the City of London for European shores, in search of lower tax rates and less regulation, not to mention the fear that Brexit would cut them off from their clients’ money. But most of the English fund managers who flocked to Switzerland have long since departed. The fund managers were unable to adapt to Swiss cultural norms, or they deemed Switzerland too “boring”, or for many other non-substantive reasons in a long litany of typical English whinges. The “boring” moniker is one viewed with much mirth and amusement by the Swiss, given that no fewer than 5 (five) Swiss cities rank in Europe’s Top 10 cities for cocaine consumption. (In case you are curious, Barcelona tops the European league tables for consumption of “devil’s dust”… [read more]