THE CITY’S former top regulator Sir Hector Sants is advising Abu Dhabi Global Market (ADGM) on the establishment of a new finance hub in the emirate.
It was one of two new jobs announced by the ex-chief of the Financial Services Authority yesterday.
Sants will advise ADGM over the next six months on the formation of its regulatory strategy, framework and rules, as well as its hiring strategy and engagement with other institutions.
From July 2015 Sants will then move to consulting firm Oliver Wyman, which has played a major role evaluating European banks through the financial crisis.
He had moved to Barclays in early 2013 to head up the bank’s compliance operations, but took sickness leave when suffering from exhaustion and stress. He resigned from that role in November 2013.
“I am privileged to be a part of Abu Dhabi Global Market’s journey to become an international financial centre and I am looking forward to actively supporting this initiative,” said Sants.
“Abu Dhabi has the right components to become an important top-tier financial hub.”