Key Takeaways
- • Alan Howard, 62-year-old co-founder of Brevan Howard Asset Management and ranked 71st on the Sunday Times Rich List with £2.5 billion in net worth ($4.3 billion on Bloomberg Billionaires Index), has relocated to Switzerland as a resident following UK tax policy changes.
- • Howard previously lived in Geneva for seven years until 2017 before returning to the UK for personal reasons; Bloomberg reported last year he was exploring a move abroad and has now re-established Swiss residency based on UK registry filings.
- • Britain is experiencing unprecedented capital flight, losing 10,800 millionaires in 2024 and an estimated 16,500 millionaires in 2025—faster than any other country globally, according to Henley & Partners analysis, driven by non-dom tax policy changes and elevated capital gains and estate duty rates.
- • High-profile wealth exodus includes private equity tycoon Jeremy Coller (Switzerland), property investors Ian and Richard Livingstone (Monaco), Revolut co-founder Nik Storonsky (UAE), and steel magnate Lakshmi Mittal (£15.4 billion net worth, Switzerland and Dubai), signaling systematic reallocation of ultra-high-net-worth individuals from UK jurisdiction.
Summary
Alan Howard, co-founder of hedge fund firm Brevan Howard Asset Management, has established residency in Switzerland, marking the latest high-profile departure of British wealth from the United Kingdom. According to Bloomberg analysis of UK registry filings, Howard, 62, has relocated to the Alpine nation after previously residing there from 2010 to 2017, during which time he left for personal reasons. Bloomberg reported in late 2024 that Howard was exploring a move abroad, a plan now confirmed through his Swiss residency status.
Howard ranks among Britain's most successful investors. The Sunday Times Rich List places him 71st with an estimated £2.5 billion fortune, while the Bloomberg Billionaires Index values his net worth at $4.3 billion. His departure underscores a broader demographic shift affecting UK financial and business leadership, particularly within the alternative asset management sector.
Howard's move is part of an accelerating exodus of ultra-high-net-worth individuals from the UK. Recent departures include private equity executive Jeremy Coller, who moved to Switzerland last year; property developers Ian and Richard Livingstone, now resident in Monaco; and Nik Storonsky, co-founder of fintech platform Revolut, who relocated to the United Arab Emirates. Steel mogul Lakshmi Mittal, with an estimated net worth of £15.4 billion, is also understood to be leaving the UK after 30 years, splitting his time between Switzerland and Dubai.
According to Henley & Partners, a British investment migration consultancy, Britain is losing millionaires and billionaires faster than any other country globally. The analysis reveals that the UK lost a net 10,800 millionaires in 2024, with estimates projecting 16,500 millionaires will depart in 2025. This capital flight is primarily attributed to recent changes in non-dom tax policy alongside the UK's elevated capital gains tax and estate duty rates, which rank among the highest internationally and create structural disincentives for wealthy business owners and investors maintaining UK residency.
Howard ranks among Britain's most successful investors. The Sunday Times Rich List places him 71st with an estimated £2.5 billion fortune, while the Bloomberg Billionaires Index values his net worth at $4.3 billion. His departure underscores a broader demographic shift affecting UK financial and business leadership, particularly within the alternative asset management sector.
Howard's move is part of an accelerating exodus of ultra-high-net-worth individuals from the UK. Recent departures include private equity executive Jeremy Coller, who moved to Switzerland last year; property developers Ian and Richard Livingstone, now resident in Monaco; and Nik Storonsky, co-founder of fintech platform Revolut, who relocated to the United Arab Emirates. Steel mogul Lakshmi Mittal, with an estimated net worth of £15.4 billion, is also understood to be leaving the UK after 30 years, splitting his time between Switzerland and Dubai.
According to Henley & Partners, a British investment migration consultancy, Britain is losing millionaires and billionaires faster than any other country globally. The analysis reveals that the UK lost a net 10,800 millionaires in 2024, with estimates projecting 16,500 millionaires will depart in 2025. This capital flight is primarily attributed to recent changes in non-dom tax policy alongside the UK's elevated capital gains tax and estate duty rates, which rank among the highest internationally and create structural disincentives for wealthy business owners and investors maintaining UK residency.
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