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2010, Fuga della City ('2010, Escape from the City')

February 10, 2010
Economy (Mondadori)

Magazine: Economy (Mondadori) - Italian
Title: 2010, Fuga della City ('2010, Escape from the City') Read the article
February 2010

Giada Vercelli, a 100WHF member and journalist, showcases our Zurich education session and discusses the implications of restrictive financial industry tax policy for the US and the UK.

Our Zurich group hosted 'Hedge Fund Migration: Global Financial Reforms and their Impact on Domicile' to a packed audience on January 25th, to discuss this hot-button issue. If the trend of moving to Switzerland gains momentum, it could mean a sea change for the powerful financial centers of London and New York, as assets move to more favorable tax regimes.

According to certain event participants and others interviewed, the continuance of 'tough talk' by British and American politicians alike, will only increase this risk. This posturing feeds off of the collective resentment of the general population, and helps win votes, but does not bode well for a fragile financial system.

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