People queue outside a currency exchange office in Geneva. REUTERS/Pierre Albouy
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Headhunters believe the Swiss National Bank's decision to scrap its currency ceiling could result in a flight of hedge fund and asset managers from the country if the Swiss franc continues to strengthen.The spike in the value of the Swiss franc equates to an effective pay cut for hedge fund and asset managers who have moved to Switzerland and are paid in a non-domestic currency, typically dollars or pounds.Leo Meggitt, a partner at Forster Chase, a headhunting firm that specializes in fund management, said: "A lot of people were already looking to leave Switzerland at the end of last year and this will intensify that shift.
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