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Brevan Howard offers Abu Dhabi staff war relocation option

Source: fnlondon.com

TL;DR

Brevan Howard offers Abu Dhabi staff option to temporarily relocate amid ongoing regional war.
Hedge fund cites safety concerns from Israel-Hezbollah conflict and Houthi attacks in Red Sea.
Move affects 150 employees in UAE hub, allowing shift to London, Geneva, or Hong Kong.
Highlights talent retention challenges as Middle East tensions disrupt finance operations.

The story at a glance

Brevan Howard is letting its Abu Dhabi team temporarily pack up and head elsewhere as the Middle East war grinds on. This comes now because escalating attacks are rattling the hedge fund's key UAE outpost.

Key moments & milestones

October 2023: Israel-Hezbollah war erupts, sparking safety worries for UAE-based finance staff.
Late 2023 onwards: Houthi rebels ramp up Red Sea shipping attacks, hitting global trade routes near Abu Dhabi.
Recent weeks: Brevan Howard rolls out relocation offer to 150 UAE employees, targeting London, Geneva, or Hong Kong offices.
Option is temporary, with return possible once security improves.

Signature highlights

Abu Dhabi is Brevan Howard's largest non-London office, housing 150 staff - about a quarter of its global headcount.
Relocation covers families too, with firm footing travel and housing costs.
Move underscores broader finance industry jitters: other firms like Citadel have eyed UAE pullbacks amid similar risks.
Brevan Howard, managing $38bn, opened Abu Dhabi hub in 2021 to tap Gulf sovereign wealth.

Why it matters

This signals how geopolitical flare-ups are upending finance's Middle East expansion, forcing top talent to scatter and raising costs for firms like Brevan Howard. It could slow UAE's rise as a trading powerhouse if safety fears persist. Watch for copycat moves by rivals and any staff uptake rates, which may preview a larger regional exodus.