Issue link: https://maltatoday.uberflip.com/i/1186724
21.11.19 7 NEWS FINANCEMALTA, Malta's public-private initiative set up to promote the country as an international financial centre, has announced the ap- pointment of Rudolph Psaila as its new Chairman. He suc- ceeds Kenneth Farrugia, who resigned from his post after serving in his role for the past eight years. e appointment of Mr Psai- la as Chairman of FinanceMal- ta was announced by Silvio Schembri, Parliamentary Sec- retary responsible for Finan- cial Services, Digital Economy and Innovation during a meet- ing of the new Board of Gover- nors held this afternoon. Schembri announced the composition of the new Fi- nanceMalta board, which features governors appointed by the government and by the financial services sector. e government-appointed governors are Rudolph Psai- la (Chairman), Justin Spiteri, Marvin Zammit, Josianne Cascun Montebello and Claude Abela. e governors appointed by the private sector are Dr Wayne Pisani as President of the Institute of Financial Ser- vices Practitioners (IFSP), Dr Matthew Bianchi represent- ing the Insurance Industry (MIMA, AIB, MIA), Karol Gabarretta representing the Banking sector as Secretary General of the Malta Bankers Association (MBA), and Ken- neth Farrugia representing the Malta Asset Servicing Associ- ation (MASA). Schembri said: "I thank Mr Farrugia for his long-standing service at the helm of Finance- Malta and wish the best of luck to Mr Psaila in his role. I be- lieve that with his experience in the financial services sector, coupled with the great support of the new board and Finance- Malta's management team, he will be continuing on the steps of his predecessor in promoting Malta as a financial services ju- risdiction across the world. Fi- nanceMalta will yet again play a crucial role, in our pursuit to take Malta's financial services sector to the next level." Outgoing Chairman Kenneth Farrugia said: "FinanceMalta has contributed significantly to the growth and importance of financial services to Malta's wider economy. We have ex- perienced growth in every sec- tor be it funds and asset man- agement, insurance as well as wealth management. We have consolidated our initiatives in core markets, extended Fi- nanceMalta's reach to new jurisdictions, and also carried Malta's proposition in new sectors such as blockchain and FinTech. In this respect I must thank all governors who over the years contributed tireless- ly to face the challenges of a young jurisdiction, and the members for their unwavering support throughout the years, as well as management and staff for their contribution to ensure Malta is a jurisdiction of repute in financial services. I wish Mr Psaila every success in his new role, and he knows that he has my full support on the Board." e new Chairman of Fi- nanceMalta, Rudolph Psaila thanked Schembri and Farru- gia for extending their wishes. "I'm grateful for being grant- ed the opportunity to act as Chairman of FinanceMalta. Whilst we remain cognisant of the challenges present in the Financial Services and Fin- Tech Industry, together with the Board of Governors, our members, the Government and all the private stakehold- ers, we will seek to consolidate our core traditional sectors and keep on evolving and in- novating in order to remain globally connected and at the forefront in the respective in- dustries." Rudolph Psaila is the CEO of AlleyBe Group, an inde- pendently owned Group en- gaged in the Corporate, Trust and Fintech Industry. He started his career work- ing for PwC Malta and PwC in the Channel Islands and dur- ing his ten-year career work- ing in Malta and abroad, he had the opportunity to work on international, high profile assignments. In 2010, Rudolph moved to Amicorp Group where he was appointed as the Global Head of Commercial Operations and was primar- ily responsible for setting up and developing the Corporate, Fiduciary and the Fund Ad- ministration businesses. He is a fellow member of the Malta Institute of Accountants and a member of the Society of Trust and Estate Practitioners. Rudolph is a visiting lecturer at the University of Malta and acts as an examiner and tutor for dissertations related to fi- nancial services. New FinanceMalta chairman and board of governors appointed Silvio Schembri (centre) with the outgoing Chairman of FinanceMalta Kenneth Farrugia and the newly-appointed Chairman Rudolph Psaila (left)