The Dubai Financial Services Authority (DFSA) has appointed Mark Steward as its chief executive and member of the DFSA board of directors, effective 19 May 2025 for a term of three years.

Steward (pictured) succeeds Ian Johnston who will step down from his role following two successful stints as the DFSA’s chief executive, the statement on 26 February said.

He joins the DFSA with over thirty years of international regulatory experience across financial services within Australia, the UK, and Hong Kong, where he has developed a deep understanding of the global regulatory landscape.

Previously, he was executive director of enforcement and market oversight at the UK’s Financial Conduct Authority (FCA) where he had responsibility for all the FCA's enforcement work and its functions as the UK Listing Authority.

He was also the chair of the FCA's Market Policy Committee and Executive Director of the FCA's International Division.

Prior to this, Steward was at the Hong Kong Securities and Futures Commission (SFC) as an executive director with responsibility for the enforcement division.

Before joining the SFC, he held several senior positions with the Australian Securities and Investments Commission (ASIC). Mark completed a law degree at the University of Melbourne in 1989.

Fadel Al Ali, chairman of the DFSA said: “We are delighted to announce the appointment of Mark Steward as the new Chief Executive-designate of the Dubai Financial Services Authority. He brings with him a wealth of international experience in capital markets and financial services, and expertise to manage cross-border regulatory relationships, and ensure adherence to the highest standards while driving innovation and operational efficiency.

"This will be invaluable to us as we continue to build on the DFSA’s success, as well as the ongoing growth and development of the Dubai International Financial Centre.”

He added: “On behalf of the Board, I would like to extend my thanks to Ian Johnston for his exceptional leadership and unwavering dedication to the DFSA over the last three years. Ian has played a pivotal role in shaping the DFSA’s success and fostering a culture of innovation and excellence. We wish him all the best with his future endeavours.”

Steward said: “I am honoured to join the DFSA, and to lead the talented team into the next chapter of the DFSA’s journey. It’s an exciting time to be part of the financial services sector within the region, and I am looking forward to building on the DFSA’s work in delivering regulatory excellence and innovation while supporting the DIFC, Dubai, and the United Arab Emirates in becoming one of the world’s premier financial hubs.”