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Business > Elena Ambrosiadou relocates to Cyprus July 9, 2006

Posted by grhomeboy in Business & Economy.

The highest-paid woman in Britain, hedge-fund manager Elena Ambrosiadou of Ikos Partners, is relocating to Cyprus. According to the British newspaper The Times, Britain’s best-paid woman moves her base to Cyprus.

Ambrosiadou, who has an estimated wealth of £200m, according to the Sunday Times Rich List, is quitting London because she believes Cyprus offers a better environment in which to grow the business.

A spokesman for Ikos said: “Elena has a five-year strategic plan to grow the assets under management from $2.8 billion (£1.5 billion) at the moment to $10 billion by 2010. Cyprus offers a good environment in which to do this. There is a more benign tax environment, a highly talented English-speaking workforce, and it is closer to Middle Eastern investors”.

Ambrosiadou started Ikos, which means “home” in Greek, in 1992 as one of the first hedge funds set up in London.

Since then, the flagship Financial fund has generated a total return of 144.4% and an annualised return of 10.2%.

According to documents filed at Companies House, Ambrosiadou, 46, the only director of Ikos, was paid a total of £15.9m last financial year.

She quietly built Ikos into one of the most successful hedge funds in the world from an office near Tower Bridge in the east of the City.

But as of July 1, Ikos’s head office is in Cyprus, regulated by the Cyprus Securities & Exchange Commission. The firm will keep its Brighton research office, but London will be used only as a base for meetings.

Ambrosiadou once said: “I grew up as a person in Thessaloniki and as a professional in London, both of which gave me massive advantages”.

HomeboyMediaNews Editor wishes all the best for success to Elena!

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