Since hotelier Tobias Zurbriggen can remember, the business of running Saas-Fee has been a local affair. Now, the Swiss ski resort neighboring the Matterhorn is feeling the heat from a New York-based financier.
Edmond Offermann, a nuclear scientist turned millionaire working for hedge fund Renaissance Technologies LLC, invested 15 million Swiss francs ($16.4 million) in 2010 to revive Saas- Fee’s struggling ski-lift company.
“It’s like a hobby, which completely got out of control,” Offermann, 53, said in an interview from Long Island in New York. He wants to shake things up by managing hotels and the ski-lift operator in one company controlled by a single chief executive.
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