The Board of Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, has approved the establishment of the ADGM Authority.
This newly constituted authority will be led by Mark Nicholas Cutis as its Chief Executive Officer, who will assume his position on 1st June 2021.
The new authority will play a pivotal role in driving ADGM’s growth by leveraging the trends emerging across the international financial services sector and the developments associated with the post pandemic world.
The key functions of the new authority will include the Office of Strategy and Business Development, Corporate Services, the Office of Information Security and Enterprise Risk Management.
H.E Ahmed Al Sayegh, Minister of State (UAE) and Chairman of ADGM said,
“Mark joins us at a crucial juncture in ADGM’s growth as we move to our next phase of development as an innovative global financial center and digital business hub.
ADGM will continue to play a key role in attracting strong capital inflows for the country as we promote the diversification of the economy spurred by the ongoing energy transition.”
Mark Cutis, Chief Executive Officer of ADGM Authority said,
“As we emerge from the disruption caused by the global pandemic, Abu Dhabi and the UAE will increasingly be recognised as an international bastion of stability and governance, making it a “go to” destination.
I look forward to working closely alongside each of the ADGM Authorities in shaping the future of the international financial landscape in the U.A.E.”
Mark Cutis has more than 40 years of financial and investment experience in global banking and investment management. He is well-recognised for his business and investment acumen and is a strong proponent of building partnerships to drive positive governance objectives.
Prior to ADGM, Mark was the Group Chief Financial Officer at ADNOC as well as being Chief Adviser of Finance and Investments. Before ADNOC, he worked for 10 years at the sovereign wealth fund, Abu Dhabi Investment Council, which he had joined in March 2008.
Before coming to the UAE, Mark held senior positions in numerous global financial institutions including Managing Director at Merrill Lynch and Treasurer at the European Bank for Reconstruction and Development, both in London, as well as Chief Investment officer of the Shinsei Bank and Chief Executive Officer at Bayerische Vereins Bank (Unicredito), both in Tokyo.