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Monday, December 4, 2023

Abu Dhabi is Brevan Howard’s new Switzerland


Abu Dhabi has become a new hotspot for the firm’s global expansion as hedge fund Brevan Howard relocates its founding partner Trifon Natsis to the UAE capital.

Brevan Howard’s new Middle East regional center in Abu Dhabi Global Markets will include representatives from its portfolio management, research, trading, risk, operations, client service, business development, compliance and technology teams, according to a person familiar with the matter. economic news.

Natsis, 63, moved to Switzerland from Britain in June 2010 after the hedge fund opened an office in Geneva, attracted by lower tax rates following the 2008 financial crisis. A company registry filing shows that the company’s co-founder, Alan Howard, has also joined Natsis in its Geneva office.

However, Narcissus and Howard moved back to the UK in 2017 and have since Report Favorable tax treatment has failed to convince hedge fund managers to stay in Switzerland.

Brevin Howard is now betting big on Abu Dhabi’s global expansion. In February, the hedge fund opened an office in Abu Dhabi with more than 100 employees. Alan Howard called Abu Dhabi “a major global hub with huge potential”.

read Hedge fund talent picks Middle East over London and New York, says headhunter

In addition to Natsis, several other members of Brevan Howard’s portfolio management and investor relations team have also relocated from the UK to the UAE capital.

Portfolio manager Mitesh Gupta moved to Abu Dhabi from London in April.

The hedge fund also hired Fayaz Rafi, a senior systems engineer locally, for its Abu Dhabi office.

The UAE has become a global hub for hedge funds, attracting some of the industry’s leading firms, including Millennium Management, ExodusPoint and Balyasny Asset Management.

read Hedge fund boss explains why Abu Dhabi is outperforming London: ‘Optimism isn’t everywhere’

Hudson Bay Capital Management, which manages about $20 billion in assets, is opening an office in Dubai.

Florin Court Capital opened an office in Abu Dhabi in 2021 and currently 40% of its global workforce is based in the UAE capital.

during an interview economic newsDavid Denison, deputy chief investment officer at Florin Court Capital, praised Abu Dhabi for having a “responsive regulator”.

To contact the author of this story with feedback or news, please email Bilal Jaffer


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