(Adds background, context)
DUBAI Aug 20 Jeffrey Singer said on Wednesday
that he had resigned as chief executive of the DIFC Authority,
which oversees Dubai's financial free zone, the Dubai
International Financial Centre.
The resignation is with immediate effect, Singer told
Reuters by telephone. He declined to comment further.
Founded in 2004, the DIFC has grown rapidly to become the
Middle East's top banking centre. The number of active
registered companies operating within it rose 14 percent to
1,039 last year.
Two financial industry sources aware of the matter said the
resignation was for personal reasons and that DIFC Governor Essa
Kazim would continue to oversee the zone's operations while a
replacement for Singer was found.
Singer was appointed CEO in July 2012, after four years as
CEO of the Nasdaq Dubai bourse, the smaller of the emirate's two
stock markets. Before that, he was a senior executive at NASDAQ
OMX Group, handling that company's international
(Reporting by Andrew Torchia and Matt Smith; additional
reporting by Nadia Saleem; editing by John Stonestreet)