Bladen to quit advisory role with Abu Dhabi Global market

ADGM said Mr Bladen will depart next month with his mandate “successfully completed” after a year with the market.

Jan Bladen is to leave his role as executive adviser to Abu Dhabi Global Market (ADGM), the financial free zone being set up in the capital, as the market gears up to welcome its first members.

ADGM said Mr Bladen, who has been serving as programme leader in the project to build a world class financial centre in Abu Dhabi, will depart next month with his mandate “successfully completed” after a year with the market.

In that time, Mr Bladen has helped build up a team of more than 40 executives, including heads of the crucial regulatory and registration units, in preparation for the opening of the market to participants expected later this year.

Ahmed Al Sayegh, ADGM chairman, said: “From the outset, the position [held by Mr Bladen] was designed to be a swift mandate to provide advice and oversight during the initial phases of ADGM’s development.

“I would like to thank Jan for his contributions over the past 12 months as we laid the foundations of ADGM.”

Mr Bladen, who was part of the team that built the Dubai Financial Services Authority a decade ago, said last year was a “cornerstone” year in the establishment of ADGM.

“Under the leadership of our chairman and the board of directors, the executive team has now laid strong foundations upon which to build a successful international financial centre,” he said. “We have defined our initial strategy and business plan, identified our first wave target markets, mapped out the group’s structures and operating models, and recruited senior people into key positions.”

In recent months, ADGM announced a number of key appointments, including the hiring of Richard Teng as the chief executive of its financial services regulator, who will also be overseeing the development of ADGM’s regulatory framework when he takes up his post next month.

ADGM has also hired Dhaher Al Muhairi as the head of its registration bureau, and Sir Hector Sants as chief adviser.

ADGM has also issued its draft legislation relating to insolvency, employment, operating regulations, property and strata regulations for open-market consultation.

“It will be publishing further draft legislation in the coming months for public comment before ADGM receives its first financial services applications this year,” a spokesperson for the free zone said.

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