BlueCrest’s Founder Platt Said to Move to Jersey From Geneva
Dec. 10 (Bloomberg) — Michael Platt, the co-founder and chief executive officer of BlueCrest Capital Management LLP, has moved to Jersey from Geneva, according to a person with knowledge of the matter, as the firm shifts its headquarters.
While Platt, 46, will be based in Jersey, he still spends much of his time traveling, said the person, who asked not to be identified because his plans are private. The $25 billion hedge- fund firm, the fourth-largest in Europe, is moving from Guernsey, a U.K. offshore dependency, to nearby Jersey at the end of the year to seek better staffing options.
Platt, who’s worth $1.2 billion, according to Bloomberg’s Billionaires Index, moved to Geneva in 2010 from London, avoiding the top British tax rate and increased regulation. BlueCrest followed Brevan Howard Asset Management LLP, Europe’s largest closely held hedge-fund manager, which also shifted its operations to Switzerland. Its founder, Alan Howard, is still based in Geneva.
BlueCrest’s macro fund, which Platt manages, has returned 1.3 percent this year as of the end of November, according to an investor update seen by Bloomberg News. Platt didn’t immediately respond to an e-mail seeking comment.
To contact the reporter on this story: Lindsay Fortado in London at lfortado@bloomberg.net To contact the editors responsible for this story: Mark Bentley at mbentley3@bloomberg.net Jon Menon, Steve Bailey
