Issue link: https://maltatoday.uberflip.com/i/1477424
maltatoday | SUNDAY • 28 AUGUST 2022 13 COMMERCIAL New license for St Julian's Maritime Finance welcomed by Malta's professional maritime community ST Julian's Maritime Finance's freshly granted license to pro- vide non-banking financial services has been welcomed by key stakeholders who see this new development as a clear sign that Malta's flourishing mar- itime centre has been further strengthened. As is well known in maritime circles, and less well known out- side them, Malta has become the flag of choice for owners of large yachts in Europe and the Mediterranean. Over the past decades, building on its long and varied maritime tradition, Malta has also developed a very strong legal and regulatory plat- form that has enabled the Mal- ta Flag to become a reputable international shipping register, and Malta's financial services authority a credible regulatory and licensing body that comple- ments the shipping register. Malta Financial Services Au- thority license holders St Julian's Maritime Finance operate with- in the marine sector providing a range of client-focused finance services covering customised and attractive financial lease solutions for European yacht owners. Former HSBC Europe Deputy CEO, Tony Mahoney, is Chair of the Board at St Julian's Mar- itime Finance, having had a very successful career in banking, first for 27 years with HSBC, and later in Oman as CEO at Bank Dhofar where he formulated and drove the 'Best in Gulf Plan' that helped transform the bank and led to plus 20% growth rates. Mahoney now chairs automo- tive, IT and advisory companies alongside his role at St Julian's Maritime Finance which he says gives him great pride. St Julian's Maritime Finance Limited, offers a one-stop-shop for yacht services including op- erating and financial lease solu- tions as well as complimentary services such as vessel registra- tion, crewing, maintenance, and repair. It provides both "asset backed finance" as well as regis- tration and other client-specific services. This allows owners to acquire and use their yachts in a more efficient and economical manner. Several marinas around Malta are situated within the island's natural inlets which are shel- tered in neat creeks that offer protection from harsh weather conditions. Likewise, St Julian's Maritime Finance is a safe creek for owners seeking the conveni- ence and cost savings of working with yachting and finance pro- fessionals. St Julian's Maritime Finance provides asset-backed leasing arrangements to clients: Finan- cial leasing up to €1 million and operating leases between €1 mil- lion and €10 million. George Vella, Chairman, Fi- nanceMalta, explained: "As a maritime nation, across the years Malta has been success- ful in turning itself into a highly sought-after yachting location with a range of innovative servic- es supporting it, including this newly licensed unique financial product. FinanceMalta's role is to promote Malta as an inter- national financial centre and this new marine finance license allows for new business and net- works to spring up around it." Tony Mahoney, Chair of St Julian's Maritime Finance, said: "We hold a special position in the European market, with a li- censed financial offering that can confidently be deployed at multiple levels. Malta's competi- tive cost structure has helped the island to compete and corporate structures put yacht owners in a very strong position to enjoy their wealth while saving con- siderably on VAT and other costs associated with yacht own- ership." Dr. Andrew Massa, Senior Associate, DF Advocates, re- marked: "Malta's profession- al maritime community wel- comes the news that St Julian's Maritime Finance has been is- sued with a license to provide non-banking financial services aimed at providing prospective yacht owners an alternative fi- nancing solution which shall certainly continue to strengthen Malta's status as a superyacht hub." Willem Steenkamer, St Julian's Maritime Finance CEO, com- mented: "In recent years, Malta has put in place specific legisla- tion that takes into considera- tion the distinctive requirements of the local yacht and superyacht industry, and that also tries to make the process of registering private and commercial yachts under the Malta Flag an at- tractive and competitive prop- osition. This is what our new non-banking financial license helps us to plug into, giving op- tions on financing that simply didn't exist before and putting in place a pillar of the maritime financial ecosystem that various stakeholders can take advantage of." For further information visit www.stjmaritime.com Left to right: Tony Mahoney, Chairman and Willem Steenkamer, CEO APS Bank launches customer service academy A PS Bank 's Career Devel- opment Department has rolled out a new training initiative aimed at improv- ing the customer experi- ence. Inspired by the FISH! Philosophy and the ener- gised attitude that it pro- motes, the Customer Ser- vice Academy focuses on enhancing staf f teamwork, innovation and morale. The programme was de- livered over 9 months to the Bank's customer facing teams and included mod- ules on quality service, emotional intelligence, in- terpersonal skills, time and stress management, and developing a growth mind- set by building rapport with customers, acting on feedback and complaints and fostering positive team dynamics. Elaine Calleja, Head of Career Development com- mented, "The FISH! Phi- losophy has provided the foundation to enhance the Bank's service culture and remind colleagues on the value of being passionate about their work, whilst ensuring an excellent cus- tomer experience. We look forward to extending this novel training across the Bank."