The DFSA Board of Directors has announced that F. Christopher Calbia will be taking over as the Chief Executive. The new position will take effect on the 1st of October, and Mr. Calabia will be taking over from Bryan Stirewalt.
The DFSA acts as the regulator for all companies that trade in and is based in the Dubai International Finance Center. This center is geared towards allowing companies from other countries to trade in the area without needing a major stakeholder in the United Arab Emirates. A license from this area is highly sought after due to the access that it allows to companies.
Mr. Calabia has had a long career in the financial industry, which has spanned over three decades. He has worked in both the profit sector and the not-for-profit sector, meaning he has experience in more than one approach to business. His previous roles also included positions within the banking sector. Here he worked to improve the impact of supervisors at the Federal Reserve Bank of New York.
His previous position before taking the role at the DFSA was at the Bill and Melinda Gates Foundation. Here he worked to promote regulations that surround the inclusion of digital financial technology. This role took Mr. Calabia to several different places around the globe to carry out this work.
The chairman of the DFSA, Fadel Al Ali, said:
The DFSA plays a crucial role as the inde-pendent financial regulator of the DIFC. Chris’s experience, driving innovation in complex environments while maintaining the stability and integrity of financial systems, will further strengthen the DIFC’s standing as a global financial hub.
Despite the excitement that the DFSA is showing about its newest Chief Executive, it still had a lot of praise to offer the outgoing Chief Executive.
Fadel Al Ali added:
During his tenure, Bryan has played an instrumental role in maintaining the DFSA’s reputation as a leading global regulator and has been a valued and respected leader at the DFSA, particularly through a challenging period.
