The authority, which regulates all financial services conducted through the Dubai International Financial Centre, said it has already begun the search for his successor.
“The [DFSA board of directors] are confident of finding a worthy successor to Mr Paul M Koster to take over the important work which he, and his team, have been doing,” it added.
Koster, a Dutch national, took the chief executive role in December 2008. Prior to this, he held positions at several companies, including Royal Philips Electronics, Coopers & Lybrand and the Amsterdam Stock Exchange.
He later worked for Autoriteit Financiële Markten, the financial services regulator for the Netherlands. During his time at AFM, he chaired CESR-Fin, the permanent working party of the Committee of European Securities Regulators.
Koster was also a member of the International Organisation of Securities Commissions Chairs’ Committee, and continues his work with IOSCO as chief executive of the DFSA.
The DFSA board is chaired by Saeb Eigner, who was promoted from deputy chairman last year.
