Abu Dhabi Global Market (ADGM) has appointed a chief justice to head up the legal structure at the new financial free zone in the UAE capital.
Lord David Hope of Craighead, a former British supreme court judge, was named to the top law job at ADGM. He has a 50-year career at the highest levels of the UK legal system behind him.
Ahmed Al Sayegh, the chairman of ADGM, said: “We are delighted and privileged to have Lord Hope join us as chief justice for our courts. Lord Hope is one of the most respected and experienced senior judges in the UK. His appointment is a testament to our resolve and commitment to delivering a truly world-class international financial centre.
“Lord Hope will be instrumental in ensuring that our member institutions will be fully supported by ADGM’s robust and reliable international legal system when we become fully operational later this year,” he added.
The appointment means that ADGM has now filled the trio of jobs at the top of the three-pillar structure of the market. Richard Teng took up the post of chief executive of the financial service regulator earlier this year, while Dhaher Mohammed bin Dhaher Almheiri heads up ADGM’s registration authority.
ADGM is preparing to admit its first members by the end of this year.
“It is a very real personal honour for me to have been appointed to lead the setting up of ADGM courts as their chief justice,” said Lord Hope, 77. “Our aim is to establish an independent and first-class judicial system, equipped with world-class judges of unrivalled experience and integrity, to serve the needs of ADGM as a business-friendly and well-regulated centre for global commerce.
“We will be working with the legal community and others locally, regionally and internationally to ensure that our courts are as up to date, efficient and accessible as possible. We will be guided at all times by the ADGM’s core values of respect, trust, performance and responsibility.”
Lord Hope retired from the position of deputy president of the UK’s supreme court in 2013 after a career that took him to the top of the legal profession in his native Scotland. In recognition of his contribution to public life he was made a knight of the Order of the Thistle in 2009, the top Scottish honour awarded by Queen Elizabeth II.
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