Despite predictions of its decline, London continues to be a major hub for the hedge fund industry, attracting a large pool of international investment talent.
London continues to be a major player in the hedge fund industry, defying predictions of its decline following Brexit and the Labour Party's electoral victory in the summer of 2023. While other cities in Europe, the Middle East, and Asia have been vying to attract financial business away from London , regulatory filings from some of the largest US-based multimanagers reveal that London remains a hub for investment talent.
These filings, which include firms like Citadel, Point72, and Balyasny, show that London offices, particularly in Mayfair, were bustling with hundreds of investors as of March 2023. This number significantly surpasses the presence of these firms in cities attempting to lure investors with lower taxes and more appealing climates, including Dubai. In fact, London houses more than half of the international investing talent across these seven firms. London's continued dominance is evident even when considering firms like Millennium and ExodusPoint, which don't disclose their international offices in regulatory filings. While they have global operations, Millennium's website highlights 18 primary offices, 12 of which are located outside the US, including London, Paris, Dubai, and Hong Kong. ExodusPoint similarly states that it has offices in London, Dubai, Jersey, Tokyo, Singapore, and Hong Kong. Despite predictions that cities like Paris would thrive after Brexit, London's investment talent pool still dwarfs that of European cities. While Dubai and Singapore are showing growth, London remains the dominant force, attracting both talent and capital. Recruiters and fund executives attribute this eastward movement to the high demand for skilled investors and the lure of tax advantages in the Middle East. However, despite the allure of new and emerging markets, London's position as a global financial center appears secure
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