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Abu Dhabi is the new hot spot for Brevan Howard’s global expansion as the hedge fund moves its founding partner Trifon Natsis to the UAE capital.
Brevan Howard’s new Middle East regional hub in the Abu Dhabi Global Market will include representation from its portfolio management, research, trading, risk, operations, client services, business development, compliance and technology teams, a person familiar with the matter told Financial News.
Natsis, 63, moved from the UK to Switzerland in June 2010 after the hedge fund opened its Geneva office, attracted by lower tax rates following the 2008 financial crisis. The firm’s co-founder Alan Howard also joined Natsis in the Geneva office, a Companies House filing shows.
However, Natsis and Howard moved back to the UK in 2017 following reports that the favourable tax treatment had failed to convince the hedge fund managers to stay in Switzerland.
Brevan Howard is now betting big on Abu Dhabi for global expansion. In February, the hedge fund opened an office in Abu Dhabi to host over 100 staff. Alan Howard called Abu Dhabi “an important global hub with tremendous potential”.
READ Hedge fund talent picks Middle East over London and New York, headhunters say
In addition to Natsis, several other members from Brevan Howard’s portfolio management and investor relation teams have already moved from the UK to the UAE capital.
Portfolio manager Mitesh Gupta moved from London to Abu Dhabi in April.
The hedge fund has also hired locally for its Abu Dhabi office including senior system engineer Fayaz Rafi.
The UAE has become a global hub for hedge funds, attracting some of the leading names in the industry including Millennium Management, ExodusPoint and Balyasny Asset Management.
READ Hedge fund boss on why Abu Dhabi trumps London: ‘There is optimism you don’t get everywhere’
Hudson Bay Capital Management, which manages roughly $20bn in assets, is in the process of opening an office in Dubai.
Florin Court Capital, which opened an office in Abu Dhabi in 2021, now has 40% of its global workforce in the UAE capital.
In an interview with Financial News, Florin Court Capital’s deputy chief investment officer David Denison praised Abu Dhabi for having a “responsive regulator”.
To contact the author of this story with feedback or news, email Bilal Jafar
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