The Dubai Gold & Commodities Exchange (DGCX) has appointed former HSBC executive, Abdullah Harmoozi as the newest head of its business development for Middle East and North Africa (MENA) region, according to a DGCX statement.
In his new role at the DGCX, Mr. Harmoozi will help take charge of the group’s business development team, with the aim of growing the exchange’s market share across the MENA region. In this capacity he will be working with a number of local banks, venues, and financial institutions to achieve this end.
He joins DGCX from HSBC, having worked at the lender in a variety of roles dating back to 2011. These included positions as its Area Sales Manager, Wealth Management Advisor, and Wealth Relationship Manager, based out of Dubai.
The appointment comes on the heels of an already robust year for the exchange, with the DGCX recently reporting an outperformance across its trading volumes, namely its derivatives business. Last month, the DGCX disclosed its January 2016 volumes that came in 15.0% higher YoY than its 2015 counterpart – this was reflective of an increasingly high frequency of derivatives and emerging market (EM) currencies.