Abu Dhabi Global Market appoints key advisor

Abu Dhabi: The Abu Dhabi Global Market, or ADGM, a financial free zone that allows Abu Dhabi to become a regional hub for private banking, wealth mangement and asset management business, has appointed a key regulator on its team.

The free zone has named Hector Sants as chief advisor effective immediately.

“Hector Sants served as chief executive of the UK Financial Services Authority for five years and prior to that, he was chief executive of Credit Suisse Emea,” the ADGM said in a Press release. He was also head of compliance, governance and regulatory relations at Barclays Bank, in addition to having held a number of non-executive positions in several regulatory authorities, including the Securities and Futures Authority and the London Stock Exchange.

Sants will serve as chief advisor to the ADGM until mid-2015, when he will become vice-chairman of Oliver Wyman, the international management consultancy, at which point his ongoing involvement with the ADGM may be extended if required and agreeable to both parties.

He will be advising the chairman of the ADGM, the CEO of the ADGM Regulator and senior members of the ADGM team.

— haseeb@khaleejtimes.com