Hedge Funds Moving to Athens Could Be a Heavy Loss for City of London

When Alpha Bank’s Konstantinos Sarafopoulos returned home to Greece in 2021 after more than 20 years in the UK — 17 of them spent at JPMorgan Chase & Co. — he found a changed landscape. Recession and austerity were gone, attractive tax packages were being rolled out and bureaucracy was being eased by digitalization. “Not so positive was the traffic,” Sarafopoulos, the lender’s chief risk officer, tells me. “But that’s maybe testament to the country’s recent success.”