Mark Steward to Lead DFSA as New Chief Executive

The Dubai Financial Services Authority has announced the appointment of Mark Steward as its Chief Executive Officer for a three-year term, commencing on 19 May 2025. Steward, who previously served as the Executive Director of Enforcement and Market Oversight at the UK's Financial Conduct Authority until 2023, will succeed Ian Johnston in this role.

Fadel Al Ali, Chairman of the DFSA, expressed confidence in Steward's capabilities, highlighting his extensive international experience in capital markets and financial services. Al Ali noted that Steward's expertise in managing cross-border regulatory relationships and ensuring adherence to high standards would be invaluable as the DFSA continues to build on its successes and contributes to the growth of the Dubai International Financial Centre .

Steward himself conveyed enthusiasm about his new role, stating that he is honoured to join the DFSA and lead its talented team into the next chapter. He emphasized the exciting prospects within the region's financial services sector and expressed his commitment to advancing the DFSA's mission of regulatory excellence and innovation, supporting Dubai and the United Arab Emirates in becoming premier financial hubs.

During his tenure at the FCA, Steward was instrumental in overseeing enforcement and market oversight, playing a pivotal role in upholding the integrity of the UK's financial markets. His leadership was marked by significant actions against misconduct, contributing to enhanced market transparency and investor protection.

The DFSA serves as the independent regulator of financial services conducted within and from the DIFC, a purpose-built financial free zone in Dubai. Its regulatory scope encompasses a wide range of financial activities, including asset management, banking, custody and trust services, commodities futures trading, fund management, insurance and reinsurance, securities trading, and fintech services.