Abu Dhabi’s ADGM launches “ADGM Authority”; Appoints Mark Cutis as CEO

By Shilpa Annie Joseph, Desk Reporter
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Abu Dhabi’s renowned international financial center and free zone, Abu Dhabi Global Market (ADGM) has launched the ‘ADGM Authority’, to accelerate ADGM’s growth by leveraging the trends emerging across the international financial services sector and the developments associated with the post-pandemic world.

The newly formed Authority will be headed by Mr. Mark Nicholas Cutis, who will take over as Chief Executive Officer on June 1, 2021. Mr. Cutis has more than 40 years of financial and investment experience in global banking and investment management. He is well-recognized for his business and investment acumen and is a strong proponent of building partnerships to drive positive governance objectives.

As per the company statement, the primary 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.

Mark Cutis
Mark Nicholas Cutis
ADGM Authority

“I am honored to be entrusted with this important task to take ADGM to the next level of its journey to become a preeminent and trusted global financial center.  An enormous amount of effort has preceded my joining. Building a center of excellence where financial counterparties can come together to transact business while enjoying the rule of law with independent courts, as well as enlightened and savvy regulation is the hallmark of ADGM. As we emerge from the disruption caused by the global pandemic, Abu Dhabi and the UAE will increasingly be recognized 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 UAE.”

Ahmed Al Sayegh, UAE Minister of State and Chairman of ADGM said, “I am glad to welcome Mark to the ADGM family and as CEO of the new Authority. 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.”

Related: ADGM FSRA brings new regulatory framework for third-party fintech services