APS Bank has nominated a former health ministry permanent secretary to its board of directors.

Joseph Rapa led the health ministry as its top civil servant between March 2013 and May 2022, will replace Victor Gusman as a non-executive director of the bank.

Rapa, who lives in Xagħra, asked not to be reappointed as permanent secretary and now oversees the management of EU funds in Malta, serving in a high-end post within the Economy Ministry. 

Gusman will retire from the APS board on December 31, with Rapa’s appointment becoming effective from the following day.  

Rapa was nominated as his replacement by the Diocese of Gozo, which is a qualifying shareholder of the Church-owned APS Bank. 

Apart from serving on the bank’s board, Rapa will also sit on the bank’s risk committee and conduct committee. 

Rapa has significant experience within the financial policy sector, having started his career at the Finance Ministry within a policy division and rising to serve as director general advising on macro-economic management, fiscal policy and macro-prudential issues. 

In a statement to the market, APS Bank chairman Martin Scicluna said he was very pleased to welcome Rapa to the board. 

“His appointment will broaden and deepen expertise in risk management, internal controls and finance strategy. We look forward to working with him,” Scicluna said.

The board thanked Gusman for his commitment and contribution as a director and wished him well for the future.