Leading hedge funds including Brevan Howard, Marshall Wace and TCI Fund Management have instructed staff in Abu Dhabi to work from home as regional security risks escalate amid US-Israeli attacks on Iran, according to a report by Financial News London

The firms are understood to be following guidance from UAE authorities recommending remote working for private sector employees after a series of retaliatory missile and drone strikes in the Gulf.

Hedge fund Pharo Management, which opened an Abu Dhabi office last year, has also told local employees to remain at home.

According to local officials, air defences have intercepted more than 160 missiles and over 500 drones since the start of the conflict. By 1 March, three people had been killed and 58 wounded in the UAE. Abu Dhabi and Dubai were targeted following US and Israeli strikes on Iran in late February.

The heightened tensions have prompted wider precautionary measures across financial services. Major banks and asset managers including Citigroup, Goldman Sachs, JPMorgan Chase, BlackRock and DWS Group have also advised UAE-based staff to work remotely.

Abu Dhabi has become an increasingly important hub for global hedge funds in recent years, attracting multi-strategy managers with its low-tax environment, supportive regulatory framework and proximity to sovereign capital.

Brevan Howard, which established its Abu Dhabi office in 2023, is among the largest hedge fund employers in the emirate, with more than 150 staff locally. Co-founder Trifon Natsis relocated to the UAE capital that year. TCI, founded by Chris Hohn, opened its Abu Dhabi office in November 2023, while Marshall Wace secured registration from Abu Dhabi’s Financial Services Regulatory Authority in October 2024.

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