Doha, Qatar, 27 March 2013: The QFC Regulatory Authority announced today that Mr. Otello R. Sturino, who was appointed as its Chief Operating Officer (“COO”) on 14 October 2012, will expand his management responsibilities at the QFC Regulatory Authority to include finance. In this expanded role, Mr. Sturino is responsible for the overall effectiveness of the QFC Regulatory Authority through the management of the Corporate Communications, Human Resources (“HR”), Information Technology (“IT”), Corporate Services, and Finance functions.   Mr. Sturino replaces Mr. Jay Perumal following Mr. Perumal’s retirement after more than seven years of service as the Chief Financial Officer of the QFC Regulatory Authority.  
An experienced leader, Mr. Sturino has worked in the financial services industry for 30 years, including 18 years with State Street Corporation, a leading global financial services provider.  Prior to joining the QFC Regulatory Authority, Mr. Sturino held a number of senior leadership roles at State Street Corporation in Canada, the US and UK, including Executive Vice President and COO of the global asset management division (SSgA) at State Street. Mr. Sturino was responsible for the global operations of the asset management division including IT, HR, finance, investment operations, the project management office, trading, and compliance. He has also played a leadership role in the financial services industry as a member of the Securities Industry and Financial Markets Association Steering Committee for Asset Management, a member of the International Committee of the Investment Company Institute, Director of the Continuously Linked Settlements Bank (CLS), and a member of the Federal Reserve FX Working Group.         
On Mr. Sturino’s appointment, Michael Ryan, Chief Executive Officer of the QFC Regulatory Authority, commented:  
“We are delighted to have Otello take on this expanded leadership role at the QFC Regulatory Authority.  His global experience in the financial services industry and extensive asset management background add significant value to the QFC Regulatory Authority”.     
On Mr. Perumal’s retirement from the QFC Regulatory Authority, Mr. Ryan commented:  
“Since the inception of the QFC Regulatory Authority more than seven years ago, Jay has been a valued member of the management team.  He has played a key role building the financial foundations of the QFC Regulatory Authority through the  establishment and management of strong governance practices, in line with the highest international standards.  We are extremely grateful for Jay’s many contributions and wish him all the best in his retirement.” 

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