Regulatory approval has been obtained for Kenneth Farrugia as CEO of BOV, the bank has announced. In his capacity as CEO, Farrugia will act as executive director on the bank’s board of directors as an executive director.

Rick Hunkin has therefore relinquished his position of CEO and executive director of the bank.

Upon this official appointment, Farrugia expressed his commitment to make a significant contribution to the success of the bank in the coming years.

“I look forward to work alongside the board, the executive team and all our highly valued employees in pursuing our strategy aimed at delivering the highest standards of service to our esteemed customers.

“We will be working together to deliver a sustainable, compliant and secure bank, focusing on our people, our operations, as well as our risk and governance infrastructure while, at the same time, accelerating the digital transition to achieve service excellence across our customer service touchpoints, to the benefit of all our stakeholders embedding ESG considerations in the process.”