The Board of Directors of the Dubai Financial Services Authority (DFSA) has appointed Mr Bryan Stirewalt as the next chief executive of the DFSA, effective 1 October. Mr Stirewalt will succeed Mr Ian Johnston, who in late 2017 announced his intention to retire from the DFSA.
During his tenure, Mr Johnston made a significant contribution to the DFSA and was key to its development as a strong and internationally respected regulator, as well as to the development of the DIFC.
Mr Stirewalt is an acclaimed financial regulator with a career that spans over 30 years in various public and private sector roles. He has been with the DFSA for 10 years, serving for the last eight years as managing director, supervision. He has extensive experience in financial regulation and played an active role in supporting the work of international standard-setting bodies. He now serves as the co-chair of the Basel Consultative Group (BCG), which provides a forum for deepening the Basel Committee on Banking Supervision’s engagement with country supervisors.
“I am honoured to take on this role and would like to extend my thanks and appreciation to the Board for entrusting me with this responsibility. I am very privileged to step into the chief executive role and look forward to further contributing to the DFSA’s work in delivering world-class financial regulation in the DIFC,” said Mr Stirewalt.
Mr Saeb Eigner, chairman of the DFSA said, “The DFSA plays a crucial role as the independent financial regulator of the DIFC. Bryan has played a vital part in executing the DFSA’s regulatory mandate and developing its risk-based supervision framework. He comes with wide international experience combined with a thorough knowledge of the workings of the DFSA and the context in which it operates. The board of directors and I are looking forward to working with and supporting Bryan as he takes the lead in steering the work of the DFSA and further developing its capability as a robust regulator.”
Mr Eigner added: “On behalf of the Board, I wish to convey our warm appreciation to Ian for his many achievements, which include his leading role in enhancing the reputation of the DFSA as an internationally respected regulator, driving regulatory policy formation, participating in the work of international standard-setting bodies and managing the DFSA efficiently. During his term, the DFSA became a signatory to important international bodies such as the International Organisation of Securities Commissions and the International Association of Insurance Supervisors, to name but two. He has also strengthened our relationship with other UAE regulatory authorities. I am sure that Bryan will build successfully on this legacy.”