DIFX Appoints New CEO

by Lorys Charalambous, Tax-News.com, Cyprus

25 June 2008

The DIFX Board of Directors has announced the appointment of former NASDAQ executive Jeffrey Singer as the new Chief Executive Officer and member of the DIFX Board, effective 1st July.

Singer fills the position vacated by Per E. Larsson who has accepted another senior position in the region, following a successful two years that saw the creation of the partnership between the NASDAQ OMX Group and the DIFX.

Commenting on the move, Soud Ba’alawy, Chairman of the DIFX stated that: "In the last two years, we have seen the development of the DIFX as a bridge between the capital markets of East and West, attracting issuers and investors from around the world."

"Along with the DIFX Board of Directors, I look forward to working with Jeff on building on the growth and success achieved in the last two years through the further expansion of the exchange."

Ba’alawy added: “We wish Per Larsson well with his future plans. He has been instrumental in the development of the DIFX as a fully functional exchange matching international best practice and regulations. His accomplishments at the DIFX will continue to add value to the exchange and its stakeholders.”

Larsson stated that: “It has been an honour and privilege to have led the development of the only international exchange in this fast growing region and the biggest exchange for Sukuk in the world."

"The DIFX has been developed to international standards and attracted the biggest IPO in the Middle East through DP World, the first UAE company through Depa, as well as a wide range of international listings and structured products.”

Singer joins the DIFX from NASDAQ OMX where he was Senior Vice President and Head of International, responsible for NASDAQ’s global business development with a primary role of managing international relationships with companies outside of the Americas.

Mr Singer announced in conclusion that: “During my time at NASDAQ OMX I truly enjoyed working with a diverse group of companies from both developed and emerging markets to help solve their global capital formation challenges while developing programs that would enhance their trading and market visibility."

"I am delighted to be taking on this new opportunity at the DIFX in a critical region in today’s marketplace. I look forward to further leveraging the NASDAQ OMX / DIFX relationship.”

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