Newly promoted Morgan Stanley MD quits for hedge fund
Dubai might be best known for its popularity with Love Island enthusiasts and aspirants, but it's also becoming a haven for hedge funds. And those funds are attracting managing directors (MDs) from banks in London.
Ankur Saboo, a 14-year-veteran oil, power, and gas options trader for Morgan Stanley in London, has succumbed to Dubai's charms.
Sakoo is moving Dubai to trade more of the same as a portfolio manager with Verition, the “really nice” hedge fund. He's doing so despite only being promoted to MD at Morgan Stanley in January.
Verition announced that it was opening a Dubai office last week. That office being headed up by another Morgan Stanley alumnus – Saad Mahmood, who left the bank in November last year to join Verition. Mahmood was in Morgan Stanley’s institutional equities team.
Dubai is a fast-growing regional hub for hedge funds. Reuters reported last week that a number of hedge funds had set up shop in the city, attracted by “lower licensing fees and capital requirements,” including Millennium, ExodusPoint, and (not-a-hedge-fund) BlueCrest.
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