Former PwC partner John Zarb has been appointed as an independent non-executive director and chairman of the audit committee at Mediterranean Bank, taking over the role vacated by former BOV chairman Frederick Mifsud Bonnici.

The bank said in a company announcement that Mr Mifsud Bonnici would be taking up the position of chairman at another bank – but did not reveal which one.

Mr Mifsud Bonnici will be relinquishing his MedBank posts after the annual general meeting on July 17.

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