Once bitten, twice shy: Swiss village hedges its bets

Once bitten, twice shy: Swiss village hedges its bets
The Swiss village of Pfäffikon has recovered after losing almost 1,000 hedge fund jobs in the wake of the 2008 crash Picture: Getty

Pfäffikon once flourished on a global influx of hedge funds, but when the crash happened it got burnt badly. Now it carefully nurtures a diversity of inward investment

As the clock ticks down toward Brexit, cities across Europe are scrambling to lure jobs fleeing the City of London. In the Swiss village of Pfäffikon – once one of the biggest global centres for hedge fund money – a potential influx of investing professionals is being met with a decided lack of enthusiasm.

The sleepy lakefront settlement of 7,000, a half-hour from Zurich, understands the perils of relying on finance as an economic engine. In...

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