Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Arbitration Centre Overview Business areas Setting up Operating in Public registers Legal framework Regulation Awareness Collaboration Ecosystem ADGM Sustainable Media News Events Spotlight Podcasts Publications Support Make an enquiry Whistleblowing FAQs
A platform that offers limitless opportunities and paves the way for a brighter future

Abu Dhabi boasts first-class infrastructure and unparalleled global connectivity, making it a premier international destination. Its exceptional qualities make it an ideal location to live, work, and conduct business.

Read about Abu Dhabi's lifestyle
Latest initiatives ADGM Announces Incentive Initiative for Existing Al Reem Island Businesses Transitioning to ADGM ADGM Marks Its Presence on Al Reem by Hosting its First Community Event on the Island
Providing an environment that empowers the future

A financial centre that provides transparency, efficiency, and integrity, through its progressive frameworks, future focused infrastructure, all within a familiar independent legal jurisdiction – ADGM is the perfect platform for success.

Find out how to set up in ADGM
Latest news 24 French Asset Management Firms With $1.6 Trillion AUM Convene for Second UAE – France Investor Meetup ADGM's Financial Regulator fines Sarwa Digital Wealth (Capital) Limited USD 122,500 for making an Offer of Securities in ADGM without Approved Prospectus
Preserve our economies and environment for future generations

ADGM, the centre for a transparent and thriving sustainable finance ecosystem.

More about our Sustainability vision
Highlights ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28 ADGM Implements its Sustainable Finance Regulatory Framework
Stay up-to-date with our wide range of available resources

Our community of business professionals, entrepreneurs, and investors can depend on ADGM to provide timely news and reliable insights.

Read our latest news articles
Upcoming events FSRA Supervision Outreach Session ADGM's 4th Annual FATCA and CRS Awareness Session LINK Networking Series
We are here to help

At ADGM, we offer various support options, including contact details, FAQs, enquiry forms, and a whistleblowing form.

View available support options
Some of our FAQ topics
  • Getting started
  • Foundations regime
  • Resolution for incorporation
  • Existing auditors
  • New auditors
  • ACCESSADGM
  • Announcement

    service

    Key Senior Appointments within Financial Services Regulatory Authority As ADGM Gears Up To Be Fully Operational By 4Q 2015

    ADGM FSRA 07/10/2015

    Abu Dhabi Global Market (“ADGM”), the international financial centre in Abu Dhabi, today announced the appointments of Thomas Hirschi as Executive Director of Banking and Insurance and Philippe Richard as the Director of International Affairs under the Financial Services Regulatory Authority (“FSRA”).

    KEY SENIOR APPOINTMENTS WITHIN FSRA

    Thomas will oversee the admission, authorisation and supervision of a broad-range of banking and insurance firms and related services at ADGM. He will also be spearheading and formulating the tools and techniques for a risk-based approach in the supervision of the banking and insurance firms. In his new role, Thomas will also advocate and align FSRA’s banking and insurance regulatory framework and standards with global best practices.

    Philippe will head ADGM’s regulatory-related international activities and collaboration with key international organisations such as the International Monetary Fund (IMF), the World Bank, the Financial Stability Board, the Bank for International Settlements (BIS), the Basel Committee of Banking Supervision, International Association of Insurance Supervisors and the International Organisation of Securities Commissions (IOSCO) as well as cooperation with national regulators. He will support the FSRA in maintaining an active communication and contribution to discussions on fostering global financial stability and shaping international financial regulatory reforms.

    Commenting on both appointments, Richard Teng, CEO of the Financial Services Regulatory Authority of ADGM said: “We welcome Thomas and Philippe to Abu Dhabi Global Market and adding them to our bench strength, reinforcing our regulatory and supervisory team. Both of them are well-respected and highly-recognised industry professionals for their extensive global experience. Together, we play our part in fortifying ADGM’s position as an international financial centre and fulfilling our mandate as a world-class financial services regulator. ”

    Brief Biographies

    Thomas Hirschi, Executive Director, Banking & Insurance, FSRA

    Prior to joining ADGM’s FSRA, Thomas was with the Swiss Financial Market Supervisory Authority FINMA holding several senior positions since 2004. From 2014, he was the Head of Risk Management (Department of Banks). In this role, he was also responsible for the continued implementation of Basel III in Switzerland. Prior to that, he was the Head of Supervision of retail and commercial banks (2011-2013), as well as the Key Account Manager for a large Swiss Bank (2009-2010). Thomas was seconded to the Federal Reserve Bank of New York for a period of 9 months in 2007/2008. Prior to joining FINMA, he was part of the Business Risk Management team at J.P Morgan Chase in Geneva. He holds Masters degrees in International Relations and European Studies from the universities of Geneva and Vienna, respectively.

    Phillippe Richard, Director, International Affairs, FSRA

    Prior to joining ADGM’s FSRA, Philippe was the Director of the International Affairs Department at the French Autorité de Contrôle Prudentiel et de Résolution (ACPR) overseeing all matters related to prudential and accounting regulations in the banking and insurance sectors. He was a member of the Advisory Board of the United Arab Emirates Securities and Commodities Authority between 2008 and 2009. From 2001 to 2008, he was the Secretary General of the International Organization of Securities Commissions (IOSCO). During his tenure at IOSCO, Philippe was actively involved in the development of the Multilateral Agreement for the exchange of information and in the implementation of the IOSCO Principles. In his earlier career, Philippe was also a Personal Assistant to Jacques de Larosière, the President of the European Bank for Reconstruction and Development (EBRD) from 1993 to 1997.