Alexander Demarco formally appointed Central Bank Governor
He was appointed deputy governor in 2014
Alexander Demarco has been appointed Governor of the Central Bank of Malta with effect from January 1, taking over from Edward Scicluna, whose term has expired.
The appointment was made by the president on the advice of the Cabinet after Demarco's nomination was unanimously approved by the parliamentary Public Appointments Committee.
Demarco is a long-serving Central Bank official and has been deputy governor since January 2014 , initially responsible for financial stability and later monetary policy.
He was acting governor between 1 August 2024 and 31 July 2025, when Scicluna, a former finance minister, moved aside after a court ruled there was sufficient evidence for him and others to stand trial over the fraudulent Vitals hospitals deal. Scicluna always denied any wrongdoing.
Demarco joined the Central Bank in 1984 and worked as senior economist within the Economic Research Department before becoming head of the Financial Stability Department.
He was actively involved in Malta’s preparations and negotiations for EU membership, as well as in exchange rate policy considerations related to Malta’s participation in ERM II prior to joining the Eurosystem.