Galena AM Moves Traders To Geneva

Trafigura’s commodity hedge fund unit,Galena Asset Management, has shifted its trading team from London to Geneva, Switzerland,Reutersreports. The move, which was completed the previous week, is part of Trafigura’s plan to house all of its traders in one place.

The move will also be beneficial for tax purposes. Some of the firm’s staff will remain in London, where the hedge fund was set up in 2004. Galena has some $1.4 billion in assets under management.

Click here for the story fromReuters.