Trifon Natsis, the co-founder of Brevan Howard Asset Management, has moved to Abu Dhabi as part of the company’s expansion plans in the UAE, which is emerging as a significant hedge fund hub. Brevan Howard, based in Jersey, Channel Islands, known for macro trading and recent ventures into digital assets, has relocated portfolio manager Mitesh Gupta to its new Abu Dhabi office.
In June 2010, Natsis, 63, relocated from the UK to Switzerland, attracted by lower tax rates after the 2008 financial crisis when Brevan Howard opened its Geneva office. Co-founder Alan Howard also joined Natsis in Geneva, according to a Companies House filing. However, in 2017, Natsis and Howard returned to the UK as the favourable tax treatment in Switzerland did not persuade them to stay, as reported.
Brevan Howard’s Global Expansion Strategy Targets Abu Dhabi
Now, Brevan Howard is focusing on expanding globally and has set its sights on Abu Dhabi. The hedge fund established an office in Abu Dhabi in February, accommodating over 100 staff. Alan Howard described Abu Dhabi as a significant global hub with immense potential.
The company is considering relocating more employees from the trading, risk, sales, and marketing departments to the region, with a long-term goal of establishing a team of around 100 individuals.
Abu Dhabi, with its substantial sovereign wealth funds overseeing $1.5T, is actively attracting international financial firms and foreign investments.
Renowned investor Ray Dalio is establishing a branch of his family office in Abu Dhabi’s financial free zone, which has attracted prominent hedge funds, venture capital firms, and crypto companies.
Abu Dhabi’s Appeal as a Financial Hub: Attracting International Firms and Investments
Abu Dhabi plans to expand its international financial district, Abu Dhabi Global Market (ADGM), tenfold, aiming to make it one of the world’s largest financial districts, according to The National News. The UAE already hosts several alternative investors, including Millennium Management, ExodusPoint, and BlueCrest Capital Management.
Brevan Howard is in a strong position, with double-digit gains in its main hedge funds in 2022, increased assets exceeding $30B, and a workforce of around 1,000 employees.
Brevan Howard’s co-founder, Alan Howard, started the investment firm in 2002 with four other traders from Credit Suisse Group’s proprietary fixed-income trading desk, giving the company its name “Brevan” from the initials of the founding partners.
