Caps on bonuses paid to fund managers proposed by European lawmakers may prompt British investment houses, which have most to lose from the new rules, to look at new structures such as profit sharing partnerships favoured by law firms, experts say.
“Kevin Poulter, a senior associate at lawyers Bircham Dyson Bell warned of an exodus of talent overseas, suggesting financial services hubs beyond the reach of EU rules such as Dubai or Hong Kong as possible destinations.
“What the European Parliament might do is send all the top quality fund managers elsewhere to unregulated parts of the world,” he said.”
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