FACT announces retirement of founder Jesmond Pace

FACT has announced founder Jesmond Pace’s retirement, a milestone after two decades shaping the firm that now enters a new phase following a recent merger.

Pace founded the practice in 1999, initially under a different brand name that later evolved into FACT—an acronym for Finance, Accounts, Corporate and Tax.

From the outset, his ambition was to build a boutique firm that could support clients across these core disciplines with a service model grounded in clarity, responsiveness, and long-term relationships.

Founder Jesmond Pace.

Reflecting on the firm’s origins, Pace said: “I wanted to create a boutique firm that supports clients in finance, accounts, corporate, and tax. And, I always wanted my philosophy to remain factual. Figures can be interpreted in many ways, and it was important to remain factual, without distorting the numbers. This was essential in building a reputation of trust, and it is why we achieved such strong client retention. I am confident the current leadership will take the firm forward in the same spirit.”

While Pace will no longer remain a Partner at FACT following his retirement, he will remain available to support the firm, drawing on more than 40 years’ experience across accounting, advisory and tax.

 His ongoing availability is intended to help preserve continuity and provide practice wisdom as FACT continues to expand its capabilities and client base following its recent strategic merger with Beacon Finance, announced last month.

As he steps back from day-to-day professional practice, Pace will be dedicating more time to other interests, including a developing career in film production and scriptwriting.

Today, FACT has a combined team of more than 30 professionals, offering integrated expertise across accounting, audit, tax, payroll, residency, and corporate services.

Reacting to the retirement announcement, FACT said the firm is grateful for Jesmond’s long-standing contribution and leadership, adding that his values, particularly his emphasis on integrity, accuracy and trust, remain central to the organisation’s culture and client proposition as it moves into its next phase of growth under its current leadership team.

FACT is now being led by partner Matthew Sapiano, together with former Beacon Finance leaders James Spiteri Staines, Michael Spiteri Staines, and James Cuschieri, along with newly appointed partner Andrew Zarb Cousin. 

Zarb Cousin, who joins from BDO, is FACT’s new Audit Partner, filling a role previously held by Mr Pace.

Together, the leadership team are focused on driving the firm’s next phase of growth, expanding specialist capability, and continuing to deliver the high standard of service clients expect in an increasingly complex business environment.