DIFC announces new senior appointments

The DFSA Regulatory Council simultaneously announced that Mr. David King, Managing Director of DFSA Supervision, has been appointed to the role of Chief Executive Officer of the DFSA. Mr King has also been appointed to the Regulatory Council.

Anis Al Jallaf, Chairman of DIFC Board of Directors said, "The DIFC concept is entirely dependent on the establishment of an independent regulatory body worthy of the world's respect and trust. I offer my congratulations to both appointees and wish them well in their new roles."

Dr. Al Mulla has been a member of the DFSA Regulatory Council and the Chairman of its Legislative Committee since inception.
He is also the Managing Partner of Habib Al Mulla & Company, a prominent law firm based in UAE and a member of the UAE Federal National Council. His other associations include Director of the Institute of Advanced Legal and Judicial Studies; Arbitrator of the China International Economic & Trade Arbitration Commission of the Dubai Chamber of Commerce & Industry and Abu Dhabi Centre for Commercial Conciliation & Arbitration.

Dr Al Mulla, said, "I am honoured to accept the role of Chairman of the Regulatory Council of the DFSA. The Dubai Government has insisted all along that an independent and world class regulator is critical to the success of the DIFC. The Regulatory Council is fully committed to this and I am looking forward to working with David and the team in taking the DFSA to the next stage of its development."

Mr. King has been Managing Director of DFSA Supervision since - 2003. Before joining the DFSA, Mr. King was Chief Executive of the London Metal Exchange based in the City of London. Under David's stewardship the Exchange turnover increased tenfold to $3 trillion per annum and its global market share increased to 90%. During this time David restructured and relocated the Exchange, developed new products, introduced new technology and was heavily involved in regulatory issues and developing and implementing strategy.

David King said, "The DFSA has come a long way from the announcement of our establishment in 2002, but the next stage of our development is the most important as we near launch. I am proud to accept the position of CEO; it will be a privilege to work with Dr Al Mulla. I would like to thank the DIFC Authority and the Regulatory Council for their trust and I am looking forward to the opportunity to contribute to making the DIFC vision a reality."