Have children, move to Switzerland

21 April 2011

2 minute read

Switzerland is emerging as the location of choice for financiers with infants.

Pre-procreation, London is the place to be. Post-procreation, it's Switzerland.

"I used to live in London and now I love it here," says one Swiss hedge fund manager. "I've got a 2 year old child and its suits where I am in my life - there's hardly any crime, people are very polite and public transport works extremely well.

"When you have children, Switzerland is far better than London," he concludes.

John Godden, chief executive of hedge fund consultancy IGS Group, says the London financiers who emigrate typically have families. "I met a 34 year old guy the other day who moved to Switzerland when he had children and had been skiing on Monday morning before work," he says.

The departure of mobile 30-something hedge fund professionals from London risks rendering the City akin to Hong Kong: a polluted party-capital which appeals most to 20 year olds.

Strangeness of Switzerland

However, there are issues with emigrating.

Godden says English language schools in Geneva and Zurich are full, making life difficult for the monolingual progeny of English expats.

Many Swiss hedge funds (including Man Group's Swiss operations) are based in Pfäiffikon, a town wtih 7,200 inhabitants 38 kilometres outside Zurich, where the key annual event is a procession with turnip lanterns.

Switzerland is also known for unusual legal stipulations. These include a ban on flushing the toilet after 10pm if you live in an apartment and prohibitions to stop you washing your car on a Sunday.

The Guardian recently reported on one hedge fund manager who moved back from Switzerland, thereby creating an 8m tax liability, after his dog soiled a neighbour's lawn and the neighbour threatened legal action.

AUTHORSarah Butcher

Global Editor

Au
Austrian banker
27 April 2011
Switzerland is a rubbish place, good for tax evaders only. Their only selling point so far has been bank secrecy but that is being constantly undermined. If that's gone they have watches and chocolates left, not much to live on in a competitive world.
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Au
Aunt Pedant
26 April 2011
Many Swiss hedge funds (including Man Group's Swiss operations) are based in Pfäiffikon, a town wtih 7,200 inhabitants 38 kilometres outside Zurich, where the key annual event is a procession with turnip lanterns.
What guff. Everyone knows that the turnip lantern event is in Richterswil down the road, not Pfäffikon (i've corrected your spelling mistake too)...
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Al
Alex
26 April 2011
I did exactly that - lived in London until mid-30s, then moved to Switzerland with small kids.
Yes, Switzerland is safer, cleaner, and better for kids.
And, as some guys above noted, it is populated by backward racists. So make sure that you live in a big city (Zurich, Geneva) and work in an international environment. You can live here perfectly well without interacting with Swiss too much.
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bl
blabla
25 April 2011
agreed with Sean, it might be cleaner, safer and wiht a better lfestyle than london (anyway it is not that difficult to be honest) but its extrmely racist country not only for black or indian but for basically anybody not swiss- eg italian,french..etc....
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Se
Sean
23 April 2011
Well I guess this article was aimed at the non ethnic minorities (whites)...Surely for Black and Indian folks, racist Switzerland is not a viable alternative to London...
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