Malcolm Wall Morris, formerly Chief Executive Officer of the Dubai Gold & Commodities Exchange (DGCX), is taking over as the new Chief Executive Officer of the Dubai Multi Commodities Centre (DMCC), replacing David Rutledge, who is retiring after more than six years of service at DMCC, including the previous five as Chief Executive Officer.
Rutledge has served as both Chairman of DGCX and more recently as an active Board Member working closely with Wall Morris on the development and management of the region's largest derivatives market.
A commodities expert with over 15 years of professional experience, Wall Morris was appointed CEO of DGCX in 2007, following his tenure as Head of Business Development, Commodity Products, at Liffe, the derivatives business of NYSE Euronext. At DGCX, which is 51 per cent owned by DMCC, Wall Morris led the exchange into the next stage in its growth, by leading derivatives exchange and preferred platform for executing commodities and currencies business in the Middle East.
During his tenure as CEO of DMCC, Rutledge led the expansion of the organisation's focus from only precious metals to encompass a much broader array of commodities, including tea, cotton, precious gems, plastics, pulses and energy.
Last year DMCC opened its new permanent offices at the Almas Tower in Jumeriah Lakes Towers (JLT). JLT is DMCC's master planned free-zone community, which as of the end of August 2009, had registered over 1,700 companies “wishing to avail themselves of the state-of-the-art infrastructure designed to support the needs of the global commodities trade,” a press release said.
Over the previous decades, Rutledge held a range of senior positions at leading firms active in the commodities and financial markets in the United States and his native Australia.
An announcement on the appointment of DGCX's new CEO will be made shortly. Guesses/ suggestions/ tips on who it might be should be put in the box below.