Jeffrey Singer said on Wednesday that he had resigned as chief executive of the DIFC Authority, which oversees Dubai's financial free zone, the Dubai International Financial Centre.

The resignation is with immediate effect, Singer told Reuters by telephone. He declined to comment further.

Two financial industry sources aware of the matter said the resignation was for personal reasons and that DIFC Governor Essa Kazim would continue to oversee the zone's operations while a replacement for Singer was found. - Reuters