EDL Capital moves its headquarters from London

Normally the Zug Post concentrates on matters in the canton of Zug, but, on this occasion, it was thought readers might like to know about the decision of the EDL Capital company to move its headquarters from London to Pfäffikon in the neighbouring canton of Schwyz

There are two municipalities called Pfäffikon in Switzerland, one on Lake Pfäffikon some15 kilometres to the east of Zurich, and the other on southern shore of Lake Zurich, just 15 kilometres northeast of Unterägeri, and it is this latter one which is referred to here.

It is thought the decision behind EDL Capital’s move from Grosvenor Street in London’s Mayfair to the Staldenbach Centre in the Freienbach area of Pfäffikon was related to the ongoing uncertainty over the United Kingdom leaving the EU.

Urs Durrer, the head of the Office of Economics of the canton of Schwyz, said he was not sure exactly why the company had chosen Pfäffikon above London, but the former has been very much establishing itself as a financial centre in recent years. Indeed, he mentioned how he was aware of another hedge-fund company looking to move to the canton of Schwyz, too. Apparently, it was already in contact with the cantonal authorities but was waiting to hear more definitive news about the UK exiting the EU. “This shows the canton is very much being considered as a location for such companies. Perhaps it is better for them here than in other locations within the EU,” he said, adding how it would be a good thing if this were to develop into a trend.

It was in this way he thought Schwyz might benefit from the UK leaving the EU, after all, EDL capital under the direction of Edouard de Langlade was very much a big player when it came to hedge-fund companies. Shortly after the company was set up, it was managing assets of some $100 million, going on under de Langlade to increase them by 500 per cent, with yield amounting to18.4 per cent, too.

Meanwhile, over in London, the City seems unconcerned at such news, to judge from an article entitled “Exodus? What exodus?” in today’s Times.