Why Hedge Funds Are Off to Dubai and Switzerland: Lionel Laurent (1)

Should emigration, rather than immigration, be the real concern for aging rich societies in 2026? I’ve lost track of the anecdotal evidence of disaffected working-age contacts relocating from the UK or France to the United Arab Emirates or Switzerland for more predictable — read lower — taxes. The latest is Alan Howard, co-founder of Brevan Howard Asset Management LLP, now a Swiss resident. And the fight for talent is only getting tougher, with former British Prime Minister David Cameron recently warning of an exodus of talented Brits heading to Dubai and Abu Dhabi.

Cameron’s right to be concerned, and not just because of recent arrivals in the UAE like Revolut Ltd.’s boss ...