Hasma Capital Advisors, the investment firm managing a multibillion-dollar portfolio for Saudi Arabia's wealthy Juffali dynasty, is relocating most of its staff from London to Dubai, according to people familiar with the matter. The firm plans to close its longstanding UK branch by mid-2027, marking another instance of private wealth shifting from Britain to the Gulf region.

The move comes despite heightened geopolitical uncertainty stemming from the Iran war, underscoring Dubai's growing appeal as a wealth management hub. Hasma Capital Advisors has operated in London for years, but the Juffali family's decision reflects a broader trend of Middle Eastern family offices choosing the UAE's tax-friendly environment and proximity to home markets.

This relocation adds to a pattern of capital outflows from London's financial center, where regulatory changes and tax policies have prompted several high-net-worth individuals and family offices to reconsider their base. Dubai's financial infrastructure and lifestyle offerings continue to attract regional wealth, even amid regional instability.