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Mon 11 Jun 2007 09:56 AM

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Dubai regulator hires big names

The DFSA has added five senior personnel in preparation for the 'next decade' of growth.

The Dubai Financial Services Authority has added five heavyweight executive names to its leadership ranks in "preparation for the next decade", according to David Knott, chief executive of the DFSA.

Marc Hambach joins as head of anti-money laundering (supervision), Michael Golden, head of insurance, Stephen Glynn, head of enforcement, Sameer Sheth, head of finance and David Haswell, head of internal audit.

"These promotions follow a review of DFSA's leadership expectations and needs into the next decade," added Knott.

Meanwhile, after weeks of speculation, Australian gold mining business, Monarch Gold, has listed on the Dubai International Financial Exchange (DIFX) - the third gold mining company to be listed on the fledgling exchange.

"The region has a traditional understanding of Monarch's product, gold, as well as a sophisticated investor base looking for quality overseas investment opportunities," said Monarch Gold executive chairman Michael Kiernan.

"Our goal is to have approximately 15% of Monarch's shareholders to be based in the GCC.

Monarch has grown to become the largest Australian-owned landowner in the mineral rich area nicknamed 'The Golden Mile' located near Kalgoorlie in Western Australia. It currently has two state-of-the-art gold treatment plants and a resource base totalling 2.4 million ounces.

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