Commenting on the appointment, Lord David Hope, Chief Justice of ADGM
Courts, said, "I am delighted to welcome Linda to the team.
Morgan, HSBC, Standard Chartered, Pacific Investment Management Company, Lazard, Credit Suisse, International Swaps and Derivatives Association and Man Group, will be instrumental in tailoring the regulations to be adopted by ADGM
to ensure that they create an environment to attract global players in the financial industry.
Commenting on both appointments, Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM
said, "We welcome Thomas and Philippe to Abu Dhabi Global Market and adding them to our bench strength, reinforcing our regulatory and supervisory team.
will include commodities trading, storage and transport, derivatives trading, custody, settlement, clearing, depository service, forex and wealth management," Al Sayegh added.
00 GMT) when it will market-make and produce a price across a range of FX and OTC products," said Mahmoud Ebraheem Al Mahmoud, Chairman of ADS Holding, the lead strategic adviser to ADGM
HE Ahmed Ali Al Sayegh, Chairman of ADGM
, said, "At ADGM
, we believe that greater co-operation amongst authorities and relevant regulators makes a significant contribution towards the economic growth of the UAE and its wider region, particularly in today's dynamic business environment.
was established as a financial free zone pursuant to Abu Dhabi Law No.
will be a key catalyst for the next phase of growth of the financial services sector in Abu Dhabi and the United Arab Emirates.
The regulations and rule books will provide a business-orientated, well-regulated and internationally-recognised platform that will support all financial services business transacted at ADGM
Today's announcement follows the signing of a memorandum of understating (MoU) late last month between ADGM
and the Abu Dhabi Department of Economic Development (DED), covering many aspects including; the registration and protection of company names and licences, both onshore and within ADGM
; developing the process for transferring and renewing the trade licences of those companies already operating in Al Maryah Island; establishing a mechanism for ADGM
and DED to cooperate wherever they may need to in the future; and cooperating in the exchange of information regarding regulations, standards and business classifications to ensure consistency between them.
Firms that wish to operate from ADGM
will have the ability to utilise a variety of legal structures under our Companies regulations" said Chairman of ADGM
It will be interesting to see how this amalgam of title systems works in practice, and in particular the interrelationship between the Abu Dhabi land registry and the ADGM
Registrar with respect to the registration of non-freehold interests in land in Al Maryah Island.