DFSA Welcomes New CEO

The Board of Management of the Dubai Financial Services Authority (DFSA), the regulator for the Dubai International Financial Centre, today welcomed David Knott as its new Chief Executive Officer at a Board meeting.

David Knott, one of the world’s most experienced and respected financial Regulators, joins DFSA from the Australian Securities and Investments Commission, where for three years he was Executive Chairman. He was also Chairman of the Technical Committee of the International Organisation of Securities Commissions (IOSCO), the international association of Securities Regulators, to which DFSA was recently admitted as an Associate Member. Knott, who is contracted to serve a three-year term, takes over from David King, who has been Acting CEO for the past nine months.

Dr Habib Al Mulla, Chairman of the DFSA, said:

“The Board was delighted to welcome David to his new role as CEO, which ushers in a new era in Financial Services in Dubai. The Dubai International Financial Exchange (DIFX) opens for business in September this year, and this seamless and harmonious handover of the most senior executive in its regulator is another milestone in the development of DIFC into a major global financial centre.”

The DFSA exists to regulate all companies operating within the 110 acres of DIFC. It is a fully independent, risk-based regulator, operating to the highest global standards of international financial Regulation.

“The arrival of David Knott underlines our status as best-in-class among international financial Regulators,” continued Dr Al Mulla. “David brings with him a wealth of experience, and his appointment will be yet another reassurance and motivation for both international and regional companies and institutions to establish themselves in the DIFC.”

David Knott, commenting on the welcome, added:

“I am very pleased to have been made so welcome by the Board. I am looking forward enormously to the excitement and challenges of leading the world’s finest regulator in the world’s most dynamic market.”