Mairead McGuinness, the European commissioner for financial services, financial stability and Capital Markets Union, addressed the first day of the 14th FinanceMalta annual conference, entitled ‘Malta’s Financial Services Industry: Emerging Stronger’, which was held on Tuesday and Wednesday.
In her intervention, McGuinness thanked FinanceMalta for the invitation to contribute to the conference and said that the theme captured some of the hope that all stakeholders have in these times, especially in the context of the pandemic and the post-COVID-19 challenges.
She said: “We have an opportunity to look at the recovery phase and build a better Europe, while developing the financial services sector so that it too can emerge stronger from the crisis and play its full part in rebuilding that better future. That future includes supporting financial centres across the European Union.”
The FinanceMalta annual conference started with a welcome address by FinanceMalta chairman Rudolph Psaila. He said that the theme chosen for this year’s conference clearly reflects the realities and challenges that the country is facing.
“In recent times our industry has been tested in many different ways: we experienced the financial crises, the European debt crises, and lately the COVID-19 pandemic. Malta is also actively working alongside the FATF after being placed under enhanced monitoring rules by the same organisation, and we are confident that thanks to the work carried out over the past 18 months, Malta will emerge stronger. History has proven that in every challenging situation our country has risen up to its expectations to view crises as opportunities that can power progress and advance innovation,” he said. “We acknowledge, however, the need for all parties to continue striving to ensure that our jurisdiction restores its good reputation and obtains the highest levels of standard that it deserves.
“We must avoid sensationalism and we must work together as one team, the Malta team, and by doing so I am sure that Malta will emerge stronger.”
The conference featured various keynote speeches, including those from Minister for Finance and Employment Clyde Caruana and Andrew Likierman, professor of management practice at the London Business School.
A number of insightful panel discussions and keynote speeches took place during the conference, as it shed light on the need and eagerness of the Maltese financial services industry to come forth following the changes and developments that took place globally and locally over the past 18 months.
The line-up of contributors included C-level executives from Malta and abroad, EU policymakers, government representatives, officials of global standard-setting organisations, renowned academics as well as international researchers.