DFSA Increases Resources

Dubai Financial Services Authority ("DFSA") has announced seven new appointments to the regulatory agency.

Commenting on the appointments, Mr. David Knott, Chief Executive, said:

"The appointment of these officers further strengthens the regulatory and operational capabilities of the DFSA. They bring with them a depth of specialist skills and experience that reflects our commitment to deliver regulatory standards matching those in the world's leading capital markets."

"We will continue to build our capacity to meet the growth of the Dubai International Financial Centre. I am pleased that we are attracting first Class Regulators to DFSA and that we are firmly on track to meet our recruitment targets".

The key appointments announced today are:

Mr Mark McGinness, Director, International Relations (Mr McGinness joins DFSA from the Australian Securities and Investments Commission).

Mr David Haswell, Senior Manager, Authorisation (Mr Haswell joins DFSA from Ernst and Young, UK)

Mr Matthew Warren, Senior Manager, Authorisation (Mr Warren joins DFSA from Lloyds of London, UK)

Mr Bernhard Sperling, Senior Manager, Supervision (Mr Sperling joins DFSA from Deutsche Bank, Prague)

Mr Aryan Schoorl, Senior Manager, Markets (Mr Schoorl joins DFSA from Netherlands Authority for the Financial Markets 'Autoriteit Financiële Markten')

Mr Tony De Cristofano, Head of Information Technology (Mr De Cristofano joins DFSA from Reuters, Dubai)

In addition to these new appointments Mr Jan Bladen has been promoted as Chief Operating Officer of DFSA, having responsibility for all corporate services. Mr Bladen first joined DFSA from PricewaterhouseCoopers in February 2005.