Head of DFSA to step down

The CEO of the Dubai Financial Services Authority (DFSA), the body responsible for regulating organisations in the Dubai International Financial Centre (DIFC), is to retire at the end of the year, it was announced on Sunday.

David Knott has headed the DFSA since early 2005, and will continue to serve as a board member after he steps down. His retirement will coincide with his 60^th birthday.

Abdullah Saleh, chairman of the DFSA, said: "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."

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