Helping traders secure school admissions and speeding up their memberships at country clubs are among a package of ‘perks’ put together by Abu Dhabi officials in a bid to help the city maintain its momentum as one of the fastest-growing global financial centres, according to a report by Bloomberg.
Combined with the city’s $1.5tn in sovereign wealth capital as well as its tax-free status, warm climate and business-friendly time zone, it is hoped that the new programme of incentives, including lifestyle support and visas, will help to lure more finance professionals.
According to Arvind Ramamurthy, who leads market development at the emirate’s financial free-zone, the Abu Dhabi Global Market (ADGM), it is benchmarking against the likes of Hong Kong and Singapore.
He said: “In the long-term, we want to be compared with London and New York.”
Brevan Howard has already succumbed to Abu Dhabi’s attractions and now manages more capital from its operation there than anywhere else in the world, running about $10bn from the ADGM, with its local team now numbering more than 80.
