ADGM Academy Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Dispute Resolution
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 life style
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
Overview Business Areas Setting up Operating in Public Registers Legal Framework
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 ADQ Announced as the Headline Partner for Abu Dhabi Finance Week SIAC Signs Memorandum of Understanding with ADGM
Regulation Awareness Collaboration Ecosystem ADGM Sustainable
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 Abu Dhabi Sustainable Finance Forum’s COP28 Edition Deep-Dives into Nuances of “Building Green Financial Centres of the Future” ADGM, the Region's Leading Climate Finance Hub, Announces its Role as Principal Partner at COP28
Media News Events Spotlight Podcasts Publications
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 RESOLVE 2024
Support Make an enquiry Whistleblowing FAQs
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
  • Discover

    News

    Media Announcements Thomas Hirschi Resigns as Executive Director of Banking and Insurance Download Arabic

    Thomas Hirschi Resigns as Executive Director Of Banking & Insurance

    ADGM FSRA: 08 July 2019

    Download Arabic

    8 July 2019, Abu Dhabi - UAE:Abu Dhabi Global Market, the International Financial Centre of Abu Dhabi, has announced that Mr Thomas Hirschi has served notice of his resignation as Executive Director of Banking & Insurance of Financial Services Regulatory Authority, and will leave the FSRA in Q4 2019. Mr Hirschi will return to Switzerland, where he will become a member of the Executive Board of the Swiss Financial Market Supervisory Authority FINMA, as the new Head of the Asset Management Division, with effect from 1 January 2020.

    Richard Teng, CEO of the FSRA, said: “As a core member of the FSRA management team, Thomas was instrumental in the formulation of framework, policies and processes governing licensing and supervision of banks and insurance intermediaries. While his departure is a loss to the team, we are glad that he has been presented with the opportunity to shape the asset management landscape in Switzerland as an Executive Board member of FINMA. We wish him all the best in his future endeavours and look forward to the continued collaboration with FINMA.”

    Mr Hirschi joined the FSRA in October 2015 where he was responsible for the authorisation and supervision of banks and insurance firms in ADGM, in line with international best practices. He has been instrumental in the build-out of the FSRA’s structures and processes, including the establishment of the Financial Crime Prevention Unit.

    During his tenure, Mr Hirschi oversaw the authorisation of banks and insurance entities including  Bank Lombard Odier & Co. Limited, BNP Paribas S.A., Citibank N.A., HSBC Bank M.E., State Street Global Advisers, , Unicredit S.p.A., ADNOC Reinsurance Limited, Mubadala (Re)insurance Limited, Marsh Management Services to name a few.

    END

    About Abu Dhabi Global Market

    Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015.  Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi’s position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.

    ADGM’s strategy is anchored by Abu Dhabi’s key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on Common Law.

    Since its inception, ADGM has been awarded the “Financial Centre of the Year (MENA)” for three consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.*   For more details of ADGM, please visit www.adgm.com or follow us on Twitter : @adglobalmarket and Linkedin : ADGM

    * Source : The Global Investor Middle East and North Africa (MENA) Awards

    For further enquiries, please contact: 

    Joan Lew
    joan.lew@adgm.com
    Telephone: +971 2 333 8858

    Related news

    View all FSRA Publishes a Consultation Paper on Proposed Enhancements to its Regulatory Framework for Continued Alignment with BCBS Principles ADGM issues alert concerning misleading claims made by For Life Pro ADGM issues alert concerning misleading claims made by New Financial Technology Ltd

    About

    Overview Jurisdiction Al Reem Expansion Authorities Initiatives ADGM Academy Dispute Resolution Careers

    Business

    Overview Business areas Setting up Operating in Public registers Legal framework

    Sustainable Finance

    Regulation Awareness Collaboration Ecosystem ADGM Sustainable

    Discover

    Media News Events Spotlight Podcasts Publications Documents

    Contact & Support

    Support Make an enquiry Whistleblowing

    Resources

    FAQs Document Repository
    © 2024 Abu Dhabi Global Market. All rights reserved. Sitemap Terms and conditions Privacy policy Cookies policy

    We use cookies and similar technologies that are necessary to operate the website. Additional cookies are used to perform analysis of website usage. By continuing to use our website, you consent to our use of cookies. For more information, please read our Cookies Policy.

    Reject cookies Accept cookies