Rudolph Psaila has been appointed chairman of FinanceMalta, a public-private initiative set up to promote the country as an international financial centre.

He succeeds Kenneth Farrugia, who stepped down after serving in the post for eight years.

FinanceMalta also has a new board of governors. The government-appointed governors are Rudolph Psaila (chairman),  Justin Spiteri,  Marvin Zammit,  Josianne Cascun Montebello and  Claude Abela.

The governors appointed by the private sector are Wayne Pisani, president of the Institute of Financial Services Practitioners (IFSP),  Matthew Bianchi representing the insurance industry (MIMA, AIB, MIA), Karol Gabarretta representing the banking sector as secretary general of the Malta Bankers Association (MBA), and Kenneth Farrugia representing the Malta Asset Servicing Association (MASA).

The new board had a meeting with Parliamentary Secretary Silvio Schembri, who is responsible for financial services, who congratulated the new board and thanked the outgoing one.

He said that FinanceMalta will play a crucial role, in the government-private sector pursuit to take Malta’s financial services sector to the next level.