Athens is attempting to enter the fray of international financial centers, and it seems to be meeting the first challenge.
Two of the strongest names in the global hedge fund market, British billionaire Chris Rokos’ Rokos Capital Management and Izzy Englander’s Millennium Management, are preparing to establish a presence in Greece, signaling a development much greater than the simple transfer of tax residence of high-paid executives. Rokos has already chosen Greece as his tax residence. The crucial thing, however, for the Greek economy is that along with the founder of the fund comes real investment activity. At the same time, Millennium, one of the largest hedge funds in the world, with funds under management exceeding $97 billion, is preparing to establish an office in Athens.
The two moves are, according to government sources, only the beginning. The Finance Ministry is already in contact with other large international funds, with Athens attempting to take advantage of the new tax environment and the quality of life offered by Greece, in order to attract not only investors and portfolio managers, but also entire investment groups and companies.
As the adviser to the Finance minister, Vassilis Karatzas, tells Kathimerini, the goal is “to see new jobs and bring companies that will pay significant taxes in Greece,” noting that this country “will under no circumstances become a tax haven.”
