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Bailey McCann, Opalesque New York:

Alan Howard, co-founder of Brevan Howard Asset Management is returning to London, the Wall Street Journal is reporting. Howard had been living in Geneva, Switzerland and is said to be returning to London for family reasons.

Howard, a billionaire, moved to Switzerland in 2010 as part of an effort by the country's government to attract wealthy executives by offering lower taxes. Brexit negotiations could, however, mean changes to how the UK treats fund managers and others on taxation.

Last week, it was reported that Brevan Howard and the UK arm of Tudor Investment had both dropped their Mifid licenses. The move will exempt both funds from certain transaction reporting requirements and added costs as Mifid II comes into force later this year. Funds that drop their Mifid licenses can still market into the European Union if they opt for Alternative Investment Fund Manager licenses. Both Brevan Howard and Tudor Investments have opted for this route. As an AIFM, both funds will have to provide regulators with reporting data, but the designation is perceived to be less onerous than Mifid II.

Howard, who personally manages a large portion of the firm's $12 billion, has been under scrutiny recently following lackluste......................

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