Billionaire Alan Howard Pitches Abu Dhabi as Global Financial Hub - Bloomberg
Abu Dhabi could become a global financial center, according to billionaire Alan Howard who pitched the emerging hedge fund region as the best time zone to trade for macro money managers.
In a rare public appearance, the co-founder of Brevan Howard Asset Management counted the city’s robust regulation, rule of law and favorable taxation as a lure for financial firms moving to the capital of the United Arab Emirates.
“You can see the BOJ beginning of the day and at the end of the day you can see the Fed,” Howard said in an interview with former UK Chancellor of the Exchequer George Osborne at Abu Dhabi Finance Week on Tuesday. “So that is an incredible advantage of Abu Dhabi and because of that we also need an execution desk here.”
Brevan Howard, one of the world’s biggest hedge funds with assets of more than $35 billion, opened an outpost in Abu Dhabi earlier this year, joining a string of peers expanding in the Middle East region that’s fast becoming a major hub for hedge funds.
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