Abu Dhabi Global Market hires Dhaher Almheiri for development and oversight role

Dhaher Mohammed bin Dhaher Almheiri will be responsible in his new position for the development and oversight of the registration process for both financial and non-financial services companies established in the free zone.

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Abu Dhabi Global Market has unveiled its latest high-profile hire with the appointment of the former DIFC executive director Dhaher Mohammed bin Dhaher Almheiri as the head of the centre’s registration bureau.

Mr Almheiri will be responsible in his new position for the development and oversight of the registration process for both financial and non-financial services companies established in the free zone.

He will also oversee the registration of property and members’ compliance to laws and non-financial services-related regulations.

“This is a very exciting time for Abu Dhabi and I am honoured to be able to take part in its remarkable growth story through Abu Dhabi Global Market, which has all the essential building blocks to become a key player in the global financial world,” said Mr Almheiri.

“I am looking forward to the opportunities that lie ahead as we build a robust and business- friendly registration process that meets our clients’ requirements and measures against top international financial centres globally.”

Mr Almheiri is ADGM’s third high-profile appointment in as many months. In October the free zone announced the appointment of Richard Teng, formerly chief regulatory officer of Singapore’s stock exchange, as chief executive of its regulatory authority.

Last month Sir Richard Sants, former chief executive of the UK’s Financial Services Authority and head of compliance at Barclays, was hired as chief adviser to ADGM’s chairman Ahmed Ali Al Sayegh on a short-term basis.

“We are delighted to have Dhaher join our team and we welcome him to Abu Dhabi Global Market,” said Mr Al Sayegh. “Dhaher has a solid track record in both the financial and non-financial services industry and a deep understanding of operational best practice.”

“[He] will be instrumental in delivering a customer-focused, efficient, business-friendly and seamless registration process, a key component of our core value proposition to our member institutions as we prepare to receive our first licence application later this year.”

The financial centre two weeks ago launched a public consultation on the first tranche of its operating regulations, with comment open until February 5 on draft regulations on subjects including the application of English law, companies and operating regulations, real property and insolvency regulations.

A second tranche of regulation is set to be released for consultation in the coming weeks.

jeverington@thenational.ae

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