David Knott appointed to DFSA board for further 3 year term

"David Knott has greatly contributed to the success of the DIFC over the past few years and has more than fulfilled our expectations as Chief Executive of the DFSA. We are delighted that we will continue to benefit from David's wealth of regulatory and business experience after he steps down from full time employment at the end of the year".

The Board of the Dubai Financial Services Authority (DFSA) today announced the decision of Chief Executive, Mr. David Knott, to retire from full time employment at the end of 2008, coinciding with his 60th birthday.

DFSA Chairman, Mr. Abdullah Saleh, said: "David Knott has been an outstanding Chief Executive who has brought widespread leadership and regulatory experience to the DFSA since his appointment in early 2005.

We have been fortunate in having David lead the DFSA during a period of dynamic growth and development for the Dubai International Financial Centre (DIFC). Although we are sorry to be losing him at the end of the year, we understand his desire to retire after a long and distinguished career in the private and public sectors. The international recognition and high reputation gained by the DFSA during David's term of almost four years reflect the success of his achievements.

The Board is committed to selecting a successor to David who will continue to command respect and confidence as Chief Executive of the DFSA. A selection process will be undertaken by the Board to ensure a smooth handover of responsibilities at the end of the year."