Why These High-Flying Tech Execs are Relocating to Europe

Originally published by Isabel Woodford on March 3 2026 on EQT website.

Extract:

It’s a cold winter morning in Stockholm. At minus 7 degrees Celsius (19 degrees Fahrenheit), it’s a far cry from the sunshine of the Bay Area, which Maryanne Caughey has recently traded in to lead the People Team at Lovable, one of Europe’s hottest AI companies.

A few years ago, the move to Sweden might have been deemed a step down for an American exec of her caliber. For a long time, ambitious tech talent seemed to flow one way: from Europe to the U.S. Why would anyone leave the world’s best funding landscape for a smaller ecosystem?

But now, the tide seems to be shifting. Caughey says she represents a growing throng of American tech expats based in the Swedish capital – and indeed across Europe – drawn by opportunities at some of the world’s most innovative companies.

“It’s not a side step in my career,” she says. “It’s the same – if not better – than a company I would have worked for in the U.S.”

Data collected by investors and recruiters supports the trend, showing a growing number of U.S. tech executives in C‑suite and “C‑minus‑one” roles crossing the Atlantic eastwards. For instance, across EQT’s tech portfolio, 8 percent of C-suite hires in the past two years came from America, up from just a handful before that.

Tech sector worker flows are reversing

“Five or six years ago, people kind of laughed down the phone at you,” says Frankie Greenwell, who leads Early Stage Talent at EQT, recalling attempts to recruit in Europe. Now, that conversation has “really changed,” Greenwell says. “Relocating native-born Americans to Europe is much more well-received.”

So why is Europe gaining traction as a serious place to cement a career, far away from the Bay Area or New York?

The opportunity equation
The influx of American talent reflects both a fundamental change in Europe’s tech ecosystem and its perception overseas.

Over the past decade, Europe has minted an unprecedented number of decacorns, private companies worth more than $10bn. It’s become home to companies such as Lovable, an EQT portfolio company that crossed $100m in annual recurring revenue within 10 months of being founded. “Europe is a more attractive investment and tech landscape than it ever has been,” says Greenwell. “There are enough proof points of success that people are willing to take a risk.”

In particular, it has crystallized its strengths in sectors including fintech, hardware and robotics, where it can now actively compete with the U.S. That has put Europe firmly on the talent map, creating a critical mass of internationally recognized startups.

New European decacorns created

“Every hub in Europe has a handful of companies that are scaled enough, ambitious enough and well-funded enough that they can actually attract top-tier talent,” says Jonas Helgesson, CEO of Erevena, a recruitment firm.

Far more European companies now have the budgets and appetite for costly international hires, says Helgesson. They’ve learned to factor in weekend visits to showcase Europe to the candidates and their families, alongside protracted negotiations.

Read the full article here.