Millennium weighs moving some of Dubai staff to Channel Island

Millennium Management, led by investor Izzy Englander, may relocate some of its Dubai staff amid the disruptions and security concerns stemming from the Iran war.

The New York-based firm, which had more than 100 employees based in Dubai before the war began, is prepared to expand its presence in the Channel Island of Jersey to staff members who have requested the move, The Financial Times reports.

Other hedge funds and financial firms are weighing contingency plans, including splitting teams across locations, tightening travel and adjusting trading operations to manage risk.

Damage from drone debris to a building in Dubai’s International Financial Centre that houses Millennium employees added to the fears about safety, according to the FT.