Top hedge fund talent is migrating from the traditional financial centres of London and New York to the UAE, Saudi Arabia, Kuwait, and Bahrain, on the back of cost-of-living and tax increases, according to a report by Financial News.
Top hedge fund talent is migrating from the traditional financial centres of London and New York to the UAE, Saudi Arabia, Kuwait, and Bahrain, on the back of cost-of-living and tax increases, according to a report by Financial News.
The report cites hedge fund recruitment firms as revealing the growing trend with a number of global hedge funds, including All Blue Capital and ExodusPoint Capital Management, having opened opened offices in Dubai this year and other managers having increases their Middle East operations.
According to the report, Austen Smart, a hedge fund headhunter and managing director of London and Dubai-based recruiter Tighe International, believes that the combination of remote working and low tax rates, plus a more ‘user-friendly’ living environment has made locations like Dubai and Abu Dhabi more attractive to employees.
