09:14
Hedge Funds: Abu Dhabi Has Embarked on the Path to Becoming a Financial Center, the Flywheel Effect Is Taking Shape
PANews, December 8—Alan Howard's hedge fund Brevan Howard currently has 150 employees in Abu Dhabi and is committed to staying there for the long term. It is currently the largest institution operating in Abu Dhabi. He stated that the Gulf city is rapidly rising and is expected to stand alongside Western financial centers such as London and New York, becoming a global financial hub. "A few years ago, I thought it would become the 'third pole' alongside New York and London. Now, I think it is fully heading in that direction." He explained that as more asset management companies and banks move in, trading volumes across various asset classes continue to rise, which creates a flywheel effect: for every fund manager working here, three to four professionals from service providers are also brought in. Nevertheless, much of the infrastructure and core talent supporting the hedge fund industry still remains concentrated in traditional centers. However, Howard
