DFSA appoints former Dutch regulator Koster as new CEO

Dubai: The Dubai Financial Services Authority (DFSA) said former Dutch regulator Paul Koster will be its new chief executive officer.

Koster will succeed David Knott, who will retire from his job in December after nearly four years with the DFSA.

Knott is widely credited as having established the DFSA as a respected regulator operating to world-class standards, the DFSA said in a statement.

Koster, 55, was previously commissioner and member of the executive board, Autoriteit Financiele Markten (AFM), the Netherlands authority for financial markets.

"I am honoured and delighted to be joining such a world-class regulatory organisation. I very much look forward to becoming part of the DFSA and spending the next few years in this dynamic and stimulating environment," Koster said.

Abdullah Saleh, chairman of the DFSA, said the new CEO's experience "in shaping and developing the Dutch AFM is very relevant to the next phase of the DFSA's growth."

"After an extensive and thorough search, we are delighted that we have attracted a person of his calibre and standing to the organisation, in itself a testament to the organisation's board, executive and staff," he said.