Brevan Howard built a team in Abu Dhabi. Now it's cutting some jobs & building a team in India
Hedge fund Brevan Howard's Abu Dhabi office rose from the sands in February 2023 and has since engaged in all sorts of hiring. In December, the firm reportedly employed 150 people in the emirate, including both portfolio managers and support staff.
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As of May last year, though, Brevan Howard has also been building a team of circa 100 people at a even newer hub in Bangalore, India. As it does, support staff at the fund in Abu Dhabi fear their jobs are at risk from the people being trained in Bengalaru.
Those fears are being fuelled by repeated small rounds of redundancies. This month, Brevan is understood to have cut up to five people in Abu Dhabi. Last year, it cut a small number of people in Abu Dhabi and London in September.
Insiders say the cuts in Abu Dhabi are affecting operations roles which support traders. Unconfirmed reports suggest that those being let go are being asked to work their notice periods and to train new staff in India.
Brevan Howard declined to comment for this article. It's understood to be scaling up its Bengalaru office, which contains both technology and support staff. There have been some hiccups in this process. Last year, a contract software engineer in India who was not offered a permanent role sent an email to senior staff and the technology team saying "Remember your wordly designations position of power, does not allow you to boost your temporary ego, which could be drained into ashes (sic)."
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