Brevan Howard founder returns to London

BREVAN Howard’s billionaire co-founder Alan Howard has returned to London after seven years in Geneva, resurfacing in the City just as it fights to retain its crown as Europe’s financial centre post-brexit.

One of Britain’s wealthiest fund managers, Mr Howard moved to Switzerland in 2010 – a time when many in the City were lured over by the low tax environment – and stayed there until last weekend.

A source said his move was for personal reasons and does not indicate changes at the firm or a refocus on London. However, many will be hoping his move back to the UK could trigger others to do the same.

While a number of investment banks are looking to relocate staff to the Continent, many private banks and wealth managers are looking to ramp up their presence in the UK. Deutsche Bank yesterday said it is looking to expand its private bank in London because the region “is like a magnet for wealth”. “There are a lot of benefits which won’t go away with Brexit,” Peter Hinder, the bank’s head of wealth management for Europe, the Middle East and Africa, told Reuters.