In recent years, more and more hedge fund traders have been relocating their firms to Dubai and Abu Dhabi, primarily to retain top traders. Despite escalating regional conflicts, this has not deterred their progress. At the end of 2023, hedge fund veteran Danny Yong lost out in recruiting a trader because the candidate preferred joining a competitor based in Dubai. Yong's Dymon Asia Capital is headquartered in Singapore, but to attract talent, the firm opened a new office in Dubai in October and plans to have 10 portfolio managers locally by the end of the year.

In late 2023 hedge fund veteran Danny Yong lost out on a coveted trader he was trying to hire. Not because this person didn’t want to work for his firm. He was just desperate to move to a rival city.Yong’s Dymon Asia Capital is based in Singapore, as was the trader. Yet it was a competing firm with a Dubai office that won him over. Within weeks the rejected Dymon co-founder made the call: If the talent’s headed to the desert, so are we. His firm opened in Dubai in October, has signed a lease for much bigger digs and aims to have 10 portfolio managers there by year end.

Hedge fund traders drive companies to relocate to Dubai and Abu Dhabi to attract top talent