PANews reported on December 8th that Brevan Howard, the hedge fund of Alan Howard, currently has 150 employees in Abu Dhabi and is committed to staying there long-term. It is currently the largest institution operating in Abu Dhabi. He stated that the Gulf city is rapidly emerging and has the potential to become a global financial hub on par with Western financial centers like London and New York. "A few years ago, I thought it would become the 'third pole' alongside New York and London, and now I think it's definitely on that path," he explained. He continued, "As more asset management companies and banks move in, the trading volume of various assets is constantly increasing, creating a flywheel effect. For every fund manager working here, it brings in three to four professionals from service institutions." Nevertheless, most of the infrastructure and core talent supporting the hedge fund industry remains concentrated in traditional centers. However, Howard believes that the proportion of funds managed in Abu Dhabi will continue to grow because the business-friendly regulatory environment, the advantages of cross-regional trading, and the UAE's strong capital pool are driving Abu Dhabi and Dubai to transform into global financial centers.