Alexander Demarco to be Central Bank governor as parliament approve appointment
Edward Scicluna's five-year term ends on December 31
Central Bank deputy governor Alexander Demarco was unanimously approved by parliament's Public Appointments Committee to take over from Edward Scicluna as head of the Central Bank of Malta on Monday.
Demarco had temporarily taken over the reins of the Central Bank when Edward Scicluna suspended himself, following public and government pressure over criminal charges related to the Vitals hospitals deal in July last year.
Scicluna was reinstated as Central Bank governor in July, but his five-year term ends on December 31.
In September, Times of Malta reported that Demarco was earmarked to take over from Scicluna.
Demarco was made deputy governor in January 2014 and was in charge of running the bank's financial stability unit. In August 2017, he was named the bank's deputy governor for monetary policy, leading its banking and financial market divisions, among others.
Before being made deputy governor, Demarco found himself at the centre of a controversy when then-communications minister Austin Gatt accused him of leaking confidential information to then-opposition leader Joseph Muscat.
Demarco, Gatt alleged, was acting as a consultant to the Opposition, having reviewed a report for the Labour Party. A series of internal probes cleared Demarco of any wrongdoing, finding Gatt’s accusations to be unfounded.
Committee chair Chris Agius will inform Prime Minister Robert Abela of the Committee's decision.