The family office of Qatar’s former ruler, Sheikh Hamad bin Khalifa Al Thani, is ramping up hiring to build a multistrategy investment team, joining a global trend of super-rich families expanding their wealth-management operations, Bloomberg reported.
Sheikh Hamad’s Dilmon family office is recruiting portfolio, operations, and risk managers in Monaco and London to create an “institutional-grade” unit for the multibillion-dollar fortune of the Gulf nation’s former emir, according to people familiar with the matter and job postings.
Dilmon received approval last month to establish itself in Monaco, a Mediterranean hub known for casinos, low taxes, and luxury events, registry filings show. The office has already hired Arnaud Caussin, former co-head of Goldman Sachs’ Monaco operations, who now serves as Dilmon’s deputy chief investment officer. Caussin confirmed the team-building effort in a LinkedIn post but did not respond to additional requests for comment.
The family office, which also has offices in Qatar and London, declined to comment.
Sheikh Hamad, 73, one of Qatar’s most prominent royals, transformed the nation into a major energy supplier, global investor, World Cup host, and philanthropic funder during his 18-year reign. Bloomberg’s Billionaires Index estimates the family’s personal investments at $150 billion, including stakes in Italian luxury brand Valentino SpA, Picasso artworks, Deutsche Bank AG, and five-star hotels like London’s Connaught and the Maybourne Riviera near Monaco.
Dilmon’s new investment platform will focus on public markets, private equity, and strategic stakes in companies. Recent job postings include a credit portfolio manager and a middle-office systems role to support Chief Operating Officer Rashid Zuberi, who previously worked 22 years at Deutsche Bank.
The expansion to Monaco follows leadership changes at Dilmon, including the appointment of Abdulrahman Al-Mannai as CEO and Swiss private banking veteran Stephane Monier as chief investment officer based in Doha.
Tax benefits are a key factor in the move. Monaco residents face neither income nor capital gains taxes, enabling Dilmon to offer more competitive compensation packages than in the U.K., where lifestyle benefits for wealthy residents have recently been reduced. “When it comes to hiring talent, offering them an option in Monaco makes it easier from a tax point of view,” said Tayyab Mohamed, co-founder of recruitment firm Agreus.
The hiring push reflects a broader trend of family offices going global. A recent KPMG and Agreus survey of 585 family office professionals found that nearly half operate in multiple locations, up from 30% two years ago, with taxation cited as the top driver for relocations.
