29 Aug, 2012NASDAQ Dubai appoints Hamed Ali as Acting Chief Executive Officer to lead new phase of growth and development

NASDAQ Dubai today announced that it has appointed Hamed Ali as Acting Chief Executive Officer, to lead the next phase of expansion at the region's international exchange.

Mr. Ali joined NASDAQ Dubai earlier this month as Chief Operating Officer (COO). Earlier he served as Executive Officer of the exchange from 2006-2008, before leaving to serve as COO of the Dubai International Financial Centre (DIFC) Authority and later Executive Director at Dubai's Knowledge & Human Development Authority.

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.'

Mr. Ali said: 'By tailoring best international practice to the requirements of the region, NASDAQ Dubai will expand its role as a centre of wealth creation and risk management on behalf of regional and international investors.

'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, Mr. Ali helped to manage the listing of DP World in the Middle East's largest IPO at 4.96 billion dollars. He also helped to develop the exchange's equity derivatives market.

Mr. Ali's appointment as Acting Chief Executive Officer of NASDAQ Dubai follows a successful four years in the role achieved by Jeff Singer, who stepped down last month and took up the position of Chief Executive Officer of the DIFC Authority.