Nasdaq Dubai appoints new acting CEO

Hamed Ali picked to lead international exchange through 'next phase of expansion'
Nasdaq Dubai appoints new acting CEO
BOURSE BIDS: US authorities cleared the deal between Bourse Dubai and Nasdaq this week, paving the way for a web of exchanges linking the US, Europe, the Middle East and Asia. (Getty Images)
By Andy Sambidge
Wed 29 Aug 2012 05:27 PM

Nasdaq Dubai on Wednesday announced that it has appointed Hamed Ali as acting CEO to "lead the next phase of expansion" at the region's international exchange.

Ali joined Nasdaq Dubai earlier this month as chief operating officer (COO) and previously served as executive officer of the exchange from 2006-2008, before leaving to serve as COO of the Dubai International Financial Centre (DIFC) Authority.

The appointment follows the move of previous CEO Jeff Singer who was last month appointed CEO of the Dubai International Financial Centre Authority (DIFCA).

Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: "Mr Ali's considerable experience of the capital markets, together with his understanding of the region's financing needs, position Nasdaq Dubai for renewed growth as a listing venue of choice for initial public offerings (IPOs) of large companies as well as small and medium-sized enterprises.

"The exchange will also maintain its focus on further building its markets in Sukuk, conventional bonds and equity derivatives."

Ali added: "I look forward to helping to build a vibrant capital market that will provide vital funding for the expansion of successful and innovative businesses, strengthening the economy of Dubai, the UAE and the region."

As executive officer at Nasdaq Dubai in 2007, Ali helped to manage the listing of DP World in the Middle East's largest IPO at $4.96bn. He also helped to develop the exchange's equity derivatives market.

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