Hasma Capital Advisors is preparing to close its UK branch and move most of its staff to Dubai. The firm, which manages investments worth tens of billions of dollars for the Saudi Juffali family, has confirmed it will wind down its London operations by the middle of next year. This was first reported by Bloomberg and is supported by recent UAE registry filings.
Hasma's decision comes as more capital flows from London to financial centers like Dubai. The emirate's appeal lies in its regulatory environment, low taxes, and economic stability. These factors have drawn family offices and private wealth managers to Dubai. The Dubai International Financial Centre (DIFC) and Dubai Multi Commodities Centre (DMCC) have both attracted international firms, helped by the Dubai Economic Agenda D33 and ongoing reforms from the Central Bank of the UAE.
Industry sources say Dubai is becoming a top choice for global capital, with family offices looking for predictable rules and strong legal systems. This trend goes beyond Hasma Capital Advisors. As reported by Bloomberg and Emirates News Agency (WAM), more London-based firms are considering or making similar moves. Hasma set up a Dubai legal entity in 2025, and CEO Mamoun Askari is now listed as a UAE resident. The company is hiring for Dubai-based roles, and finance head Adrian Clear relocated there in August 2026.
For Dubai, the arrival of major investment firms is strengthening its position as a global financial center. The city's ability to attract these firms is changing the competition among international wealth management hubs. This shift follows regulatory and market changes that have led firms to rethink where they operate, as noted in a recent report on Dubai's international partnerships. According to Bloomberg, Dubai's clear regulations and tax benefits continue to outweigh regional security concerns, even as Reuters has reported increased tensions in the Gulf in recent months.
Hasma Capital Advisors' planned exit from London and focus on Dubai shows where global wealth is now looking for stability and opportunity. As more firms consider Dubai's regulatory and economic advantages, the city's role as a destination for family offices and investment managers is growing. The gap with traditional centers is closing quickly.
