Traders and fund managers seem to be swopping the fast paced city life and 9-5 office space for the possibly faster paced ski slopes on France. French resorts like Chamonix and Verbier, a favourite for the UK royal family are fast becoming the office space of ultra-rich white collar workers.

Charles Bromley of Corinthian Financial Managment left London in 2002 to manage the business from the ski resort of Verbier.

I don’t know whether it’s a coincidence or cause and effect but the social structure of Verbier has changed in line with the financial crisis.

It used to be very flat but in the last few years more people who traditionally work in the City have moved here and set up permanently.

Traders and fund managers are coming for tax reasons and the lifestyle. Verbier has a sophisticated international community. We are the new ski bum. And we are here to stay. I can’t think of any reason to go back.

Verbier Ski Resort

But how do you actually get any work done? Bromley said:

If I am not at my desk, or my traders aren’t, we miss opportunities. That’s the best discipline of all.

I have a rule that, if it’s a powder day, I will not be in the office in the morning. But my staff must be there for the opening of the European and US markets. And then they can have a three-hour lunch break.

Verbs, as the locals call it, is home to 3,000 permanent residents and attracts ultra-high net-worth individuals. Princes William and Harry frequent the slopes, and James Blunt and Sir Richard Branson have chalets. Branson’s chalet costs £100,000 (R1,4 million) to rent out over Christmas.

Richard Branson’s ‘The Lodge’ in Verbier

[Source: The Telegraph]