Salem Mohammed Al Darei has been appointed as the CEO of ADGM Authority, the international financial centre of the capital of the UAE.

In his new role, Al Darei will drive ADGM’s growth by leveraging the trends emerging across the international financial services sector, according to a statement.

Founded in October 2015, ADGM has more than 5,500 business licences operating within it.

Prior to joining ADGM, Al Darei was ADNOC Group’s chief legal counsel, a member of ADNOC Executive Leadership Team and a board member across various ADNOC Group companies.

“Salem is a distinguished business leader poised to greatly enhance ADGM’s overarching objectives and contribute to the achievement of ADGM’s vision to be one of the leading international financial centers on a global scale,” the group said in a statement.

“Over the course of his 22-year career, he has consistently demonstrated a remarkable ability to drive transformative change, build strong teams, and foster a culture of innovation and collaboration,” the statement said.

Al Darei holds a Master of Laws degree from the United Kingdom.

He takes over from Dhaher bin Dhaher Al Mheiri, who helmed ADGM Authority previously.

ADGM operates across Al Maryah Island and Al Reem Island, an area of 1,438 hectares, making it one of the largest financial districts in the world.

(Reporting by Seban Scaria; editing by Brinda Darasha)