Key Takeaways
- • Brevan Howard, managing $33 billion in assets, appointed its first Middle East-based CEO and is relocating founding partner Trifon Natsis and chief compliance officer Ryan Taylor to Abu Dhabi, signaling major regional expansion commitments.
- • The firm plans to employ 100 Abu Dhabi staff at its ADGM office, positioning the UAE capital as a global hub for the $33 billion alternative investment manager and demonstrating confidence in the region's regulatory infrastructure.
- • GCC asset management market is projected to reach nearly $500 billion in onshore assets by 2026, up from $400 billion at end of 2022, driven by regulatory reforms that are shifting high-net-worth capital from traditionally offshore structures (historically over 70% of allocations) to onshore options.
- • Abu Dhabi Global Market (ADGM) and Dubai International Financial Centre (DIFC) are attracting major hedge fund capital, with DIFC reporting nearly 60 hedge fund firms awaiting licensing, positioning the UAE to compete directly with New York and London for hedge fund headquarters and operations.
- • Oualid Lahsini's appointment as Middle East CEO reflects Brevan Howard's view that ADGM is "on its way to becoming one of the world's leading international financial centres," marking a strategic pivot toward the region for managing assets for sovereign wealth funds, pension plans, foundations, and endowments.
Summary
Brevan Howard, the Jersey-based global alternative investment manager with $33 billion in assets under management, is executing a material expansion into the Arabian Gulf region through senior leadership appointments and staffing commitments. The firm appointed Oualid Lahsini as its first Middle East-based CEO six months after announcing the opening of its Abu Dhabi office. The expansion extends to C-suite relocation, with founding partner Trifon Natsis and chief compliance officer Ryan Taylor relocating to the UAE capital, underscoring organizational commitment to the region beyond routine regional operations.
The Abu Dhabi Global Market (ADGM) office will employ 100 staff, establishing substantial regional presence and infrastructure for institutional investor services. Lahsini stated that the firm believes "the time is right to expand as Abu Dhabi Global Market (ADGM) is on its way to becoming one of the world's leading international financial centres." Brevan Howard manages capital for institutional investors globally, including sovereign wealth funds, corporate and public pension plans, foundations, and endowments, positioning the Abu Dhabi base as a critical node for global asset allocation flows.
Market research from Strategy& provides quantitative support for the strategic timing. The GCC asset management market is projected to reach nearly $500 billion in onshore assets by 2026, representing $100 billion growth from $400 billion at end of 2022. Critically, regulatory reforms are reshaping capital allocation patterns: historically, high-net-worth individuals and family offices favored offshore structures representing over 70 percent of allocations, but supportive onshore regulatory changes are making GCC-based asset management increasingly competitive. Jorge Camarate, partner at Strategy& Middle East, highlighted that these regulatory improvements are driving meaningful capital repatriation to the region.
The competitive positioning reflects broader hedge fund migration to the Gulf. Both ADGM and Dubai International Financial Centre (DIFC) are attracting major alternative investment managers, with DIFC reporting nearly 60 hedge fund firms awaiting licensing. This development positions the UAE to compete directly with established global financial centers—New York and London—for hedge fund domicile and operational headquarters, marking a structural shift in global alternative asset management geography.
The Abu Dhabi Global Market (ADGM) office will employ 100 staff, establishing substantial regional presence and infrastructure for institutional investor services. Lahsini stated that the firm believes "the time is right to expand as Abu Dhabi Global Market (ADGM) is on its way to becoming one of the world's leading international financial centres." Brevan Howard manages capital for institutional investors globally, including sovereign wealth funds, corporate and public pension plans, foundations, and endowments, positioning the Abu Dhabi base as a critical node for global asset allocation flows.
Market research from Strategy& provides quantitative support for the strategic timing. The GCC asset management market is projected to reach nearly $500 billion in onshore assets by 2026, representing $100 billion growth from $400 billion at end of 2022. Critically, regulatory reforms are reshaping capital allocation patterns: historically, high-net-worth individuals and family offices favored offshore structures representing over 70 percent of allocations, but supportive onshore regulatory changes are making GCC-based asset management increasingly competitive. Jorge Camarate, partner at Strategy& Middle East, highlighted that these regulatory improvements are driving meaningful capital repatriation to the region.
The competitive positioning reflects broader hedge fund migration to the Gulf. Both ADGM and Dubai International Financial Centre (DIFC) are attracting major alternative investment managers, with DIFC reporting nearly 60 hedge fund firms awaiting licensing. This development positions the UAE to compete directly with established global financial centers—New York and London—for hedge fund domicile and operational headquarters, marking a structural shift in global alternative asset management geography.
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