DIFX Appoints Ahmed Fahour As Director

by Mary Swire, for LawAndTax-News.com, Hong Kong

27 March 2008

The Dubai International Financial Exchange Ltd (DIFX) last week announced the appointment of Ahmed Fahour as a Board Director.

Mr Fahour is the Australian Chief Executive Officer of the National Australia Bank Group, and a Principal Board Director of National Australia Bank Limited.

He takes up his appointment as the DIFX prepares for a new phase of development, following the completion last month of the transaction among the DIFX, Borse Dubai Ltd and The Nasdaq Stock Market, Inc., which resulted in the NASDAQ OMX Group, Inc. acquiring a 33.3% stake in the DIFX.

Soud Ba'alawy, Chairman of the DIFX and Executive Chairman of Dubai Group, observed that:

"Ahmed's first class experience in international financial services brings valuable expertise to the DIFX as it expands its activities. His longstanding knowledge of the region will assist Dubai's development as one of the world's leading financial centres."

Ahmed Fahour joined the National Australia Bank Group in September 2004.

Before joining the Group, Mr Fahour was Citigroup's Chief Executive Officer for Australia and New Zealand, and prior to this was Chief Executive Officer of Citigroup Alternative Investments in New York.

In his role at Citigroup he was involved in various financial activities with Dubai organisations.

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