Daniel L. Doctoroff, president of Bloomberg L.P., the leading global provider of financial data, analytics and news, delivered the key note address at a power breakfast meeting organised by the Mudara Institute of Directors (Mudara IOD) at the Dubai International Financial Centre (DIFC).

In a speech titled 'Transformational Governance: Lessons on Leading from the Top in New York City and Bloomberg', Doctoroff, former Deputy Mayor for Economic Development and Rebuilding for the City of New York , discussed ways of surviving the current global economic crisis.

William Foster, Executive Director of Mudara IOD said: "As part of creating opportunities for corporate leaders from the region to learn from leading global business personalities, we were delighted to host Daniel L. Doctoroff at our power breakfast meeting. As an inspirational leader who helped Mayor Bloomberg to guide New York's resurgence after the 9/11 attacks, Doctoroff has become a role model and a source of inspiration for corporate and government leaders across the world. Mudara IOD is keen to facilitate new learning and knowledge sharing opportunities for directors, board leaders, CEOs and corporate leaders in the region. Yesterday's power breakfast meeting is part of a series of events that we are organising to achieve this objective."

The main message of Doctoroff's speech was that "transformational times require transformational governance." However he also spoke extensively on Dubai's economic outlook in the face of the global economic crisis. Dubai and the region, he said, have a good chance of coming out of the global crisis in better shape and earlier than others.

"This region is less impacted than say the United States or Europe. It also has a high surplus of liquidity and oil. All these factors give it a higher probability for fast recovery than Western markets," he added. Doctoroff also pointed to the similarities between New York City and Dubai. "The New Yorker spirit is famed throughout the world and so is the Dubai spirit. Both characterise an unwillingness to give up in face of seemingly insurmountable odds. Both symbolise the creativity of dreaming the impossible and the diligence that goes into achieving that vision."

As Deputy Mayor for Economic Development and Rebuilding for the City of New York, Doctoroff helped to lead one of the city's most dramatic economic resurgences. He spearheaded the effort to reverse New York's fiscal crisis after the attacks of 9/11 through a five-borough economic development strategy. The plan included the most ambitious land-use transformation in the city's modern history; the largest affordable housing programme ever launched by an American city; the formation of new Central Business Districts and Industrial Business Zones; and the creation of new, great destinations like the Harbor District.

A professional membership organisation serving board members, directors and governance professionals in the Middle East and North Africa (MENA) region, one of Mudara IOD's key objectives is to provide the knowledge, expertise and support necessary for enhancing corporate directorship and board leadership in the region. Through its regional membership network, Mudara IOD also offers a forum for board members and directors across the region to exchange ideas and experiences on best board standards and practices.

Daniel L. Doctoroff, President of Bloomberg L.P.