Millennium Management negotiates tax deal in Geneva

Millennium Management is in negotiations with authorities in Geneva regarding a potential tax arrangement. This deal could facilitate the expansion of the New York-based hedge fund within the French-speaking Swiss canton.

Currently, Millennium operates in both Geneva and Zug, though its Zug operations are larger due to significantly lower tax rates. While Geneva’s maximum personal income tax rate can approach 45%, Zug’s is approximately 20%. A successful tax agreement in Geneva could allow the firm to better compete for portfolio managers and traders who prefer the French-speaking region, potentially driving further hiring and investment in the area.