Avoid Brevan Howard - Hedge Fund - Especially Abu Dhabi
Hi, just a heads up for those who are thinking of applying for roles there definitely reconsider. The fund is underperforming for years and they have laid off about 20-30% of staff. Many of them they moved out to Abu Dhabi and within less than a year found out they had no job. Whilst the UAE is coming up as a hub it is mostly in Dubai and many of the people laid off last year in Abu Dhabi have had to move back to London to find suitable work in their field.
Not just a singular view either check out their glassdoor - hordes of extremely negative views. Whilst the industry is volatile they are incredibly so, I know of people who were personally impacted sold house in the UK moved children over and then within a few months found out their role didn't exist. Be extremely careful if you are thinking of taking a role their. Thanks
Based on the most helpful WSO content, it seems Brevan Howard has faced significant challenges, particularly in their Abu Dhabi operations. Reports indicate underperformance over the years, coupled with layoffs affecting 20-30% of staff. A concerning trend is the relocation of employees to Abu Dhabi, only for some to lose their roles within a year. This has reportedly forced many to return to London to secure work in their field.
Additionally, while the UAE is emerging as a financial hub, the focus appears to be more on Dubai than Abu Dhabi. Glassdoor reviews also highlight widespread dissatisfaction, with accounts of individuals uprooting their lives—selling homes and moving families—only to face sudden job losses. If you're considering a role at Brevan Howard, especially in Abu Dhabi, proceed with caution and conduct thorough due diligence.
Sources: Striking Out on Tinder? | The Daily Peel | 9/3/21, How likely is it to get fired in S&T?, David and Goliath: The Boutique and The Bulge Bracket, WSO 2022 Investment Banking Work-Conditions Survey (Part 1/3), IB Burnout - Is it worth it?
This has been very common in a lot of different industries and locations in the last 5 years, and why the wage and career premium for a big move (especially to a new firm) should be higher than people consider. The higher net pay should be adjusted for the probability of being laid off, length of noncompete and what other roles exist in the same place.
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