The Qatar Financial Centre (QFC) was established by the government of Qatar in 2005 to attract international financial services and multinational corporations to the region, and Pearce was headhunted from the UK to develop QFC into a world-class financial centre.

His success led to him being appointed special adviser to the chairman, HE Yousef Hussain Kamal, who has also served as Qatar's Minister of Economy and Finance since 1998.

QFC allows 100 percent ownership by foreign companies and provides access to over $140bn of investment in Qatar and over $1 trillion across the GCC.

QFC consists of a commercial arm, the QFC Authority and an independent financial regulator, the QFC Regulatory Authority.

Prior to taking the helm at QFC, Pearce had a successful career in international banking and financial services with HSBC in the Middle East, North America, Asia and Europe. In 1992, he was appointed CEO of HSBC Private Banking Europe and Middle East, and in 1997 he was appointed chief executive and country manager of HSBC Japan.

In 2001, Pearce was appointed HSBC's head of corporate banking in the UK and the following year he took up the new appointment of CEO of HSBC Investment Management, which he held until his move to Qatar in 2005.