Author: Mel Chamber

PwC Malta has welcomed four new directors into its leadership team. Effective as from 1 July 2024, Marie Claire Shead and David Gafa have been appointed Directors within the Assurance line of service, Stefan Diacono has been appointed Director within the firm’s Finance and Corporate Managed Services line of service and Etienne Falzon has been appointed as a Director within PwC Digital Services Malta Limited.

“These appointments reflect the continuing diversification of our business, and the multidisciplinary nature of our offerings. This announcement also reflects our unwavering commitment to fostering a culture of development and recognising talent within our firm,’’ said David Valenzia, Territory Senior Partner at PwC Malta. Each of these individuals bring a wealth of Experience and expertise, and their dedication has been instrumental in the operations of the firm. David Valenzia continued by expressing his confidence in each individual and his belief that they will all play an important role in shaping the future of PwC Malta.

Marie Claire joined PwC as an Audit Associate in 2005 after successfully completing her Accountancy degree at the University of Malta. She spent 12 years working on various external audit engagements that vary in size and nature, both locally and abroad at PwC New York and PwC Milan. In 2018 Marie Claire took up the role of managing the day to day operations of the Assurance practice. Her focus is that of providing oversight and managing the operations within the Assurance line of service. Marie Claire is also regularly involved in delivering internal training on external audit standards and processes.

David joined the firm in 2008 after earning a Bachelor of Accountancy (Honours) degree from the University of Malta. As part of the firm’s Assurance practice, he manages audits for listed entities, major private groups and public corporations in various sectors, including manufacturing, pharmaceuticals, energy, real estate and retail. He has also worked in the Assurance departments of PwC in Sydney, Chicago, Boston and San Francisco, supporting clients in financial services, manufacturing, and technology.

Stefan graduated with a BA (Hons) in Management from the University of Malta in 1999 and received a diploma in taxation from the Malta Institute of Taxation in 2015. He began his career at PwC Malta in 1999, later joining a start-up corporate service provider to help establish its Malta office, before he returned to PwC Malta, pushing his career to the next level. Stefan has extensive experience in company accounting, corporate compliance, administrative matters and corporate restructuring. He heads the liquidation team, manages a portfolio of medium-sized and multinational companies and delivers training courses both internally and to clients.

Etienne graduated with a Master’s degree in Business Administration from Henley Business School in 2010 and joined PwC Malta in 2022 after working for more than 20 years in business applications implementation. Etienne has extensive experience in leading global teams and driving complex and challenging engagements, both with local and international clients, and is currently leading the Firm’s Microsoft Business Applications practice.

These appointments serve as further confirmation of PwC Malta’s commitment to invest in differentiating capabilities that motivate the firm and its staff to continuously deliver on its purpose; to be a community of solvers coming together in unexpected ways with the scope of supporting organisations, build trust and deliver sustained outcomes. These appointments demonstrate the sustainability plan of the firm, and reflect its mission to ensure a steady growth path for members of staff on all levels.

Bank of Valletta is proud to announce the five projects that will be spearheading community development across Malta and Gozo over the coming year as part of the BOV Rebbiegħa CSR Initiative. Aimed at fostering sustainable growth and community engagement, the BOV Rebbiegħa Initiative identified five groundbreaking projects that will be receiving funding and support from Bank of Valletta. These were chosen from among 21 projects submitted by 17 different NGOs in response to the Bank’s open call made last February. The projects were chosen for their innovative approach and their potential to significantly enhance the quality of life of our islands and encompass a variety of areas including environment, sustainability, education, cultural heritage, and social inclusion.

This announcement coincides with the Bank’s 50^th anniversary celebrations, marking half a century of dedicated service and activism in local communities. The selected projects are:

• Conservation and Research of Loggerhead Turtles – Led by Nature Trust-FEE Malta, this project involves building an outdoor turtle tank and implementing satellite tracking to conserve and study loggerhead turtles.

• VR Educational Experience – Created by Żibel in collaboration with the Archelogy Department at the University of Malta, this initiative aims to showcase the beauty of the underwater world while highlighting the issue of underwater pollution through a virtual reality experience.

• Interactive Environmental Book – The Write Deal Association Malta will write and publish an educational interactive book about the BOV 4 Environmental Pillars, providing a virtual platform for learning and engagement.  

• Ġnien Community Project – Spearheaded by Għawdix, this project aims to interweave the wisdom of traditional Gozitan farmers with the innovative practices and ambitions of younger community members.

• Maltese Honey Bee Research – In partnership with the Biology Department at the University of Malta, the Foundation for the Conservation of the Maltese Honey Bee, will build ecological enclaves to support and promote biodiversity conservation through the study of the Maltese honey bee.

Commenting during the announcement, Charles Azzopardi, Head CSR and Events at Bank of Valletta explained, “It gives us great satisfaction to announce the chosen projects under this initiative, as they each represent a crucial step in our continuous mission to enrich the lives of local communities in Malta and Gozo. The selection process was incredibly rigorous and competitive, reflecting the high level of innovation and commitment of local NGOs. We are extremely eager so see these projects come to fruition in collaboration with the Bank over the months ahead”.

Mr Ernest Agius, the Bank’s Chief Operations Officer, spoke about the BOV Rebbiegħa CSR initiative. “Launched on our 50^th anniversary, this initiative underscores the Bank’s long-standing commitment to continue playing an active role in society and making a positive impact on our communities. It is aimed at protecting Malta’s environment while fostering a greater understanding and care for the natural environment around us. The projects chosen under this initiative not only address the immediate needs of local communities, but also lay the groundwork for sustainable growth and development. We look forward to witnessing first-hand the positive impact that these initiatives will bring.”

HSBC Malta celebrated 25 years of achievements at this year’s annual staff party held at the Verdala Palace on the 28th of June. The highly anticipated event, organised by the Sports and Social Committee, brought together employees for an evening of music, entertainment, and camaraderie.

The historic Verdala Palace, nestled in the picturesque Buskett, provided a stunning backdrop for the evening’s festivities. The employees were treated to an enchanting night filled with delightful performances and a vibrant atmosphere.

Headlining the entertainment was Musea Orchestra, a renowned Maltese pop orchestra known for their energetic concerts and unique orchestral flair. Their performance captivated the audience and set the tone for an unforgettable evening. Special guest Aidan added an extra layer of excitement with a performance that left everyone in high spirits.

The evening was a testament to the strong community and team spirit within the organisation. The Sports and Social Committee went above and beyond in organising an event that not only celebrated the bank’s achievements but also fostered a deep sense of unity and pride among all attendees.

As the night drew to a close, those present left with many a cherished memory and a renewed energy to clench more successes in the future.

“It was a delightful evening where, as one team we celebrated 25 years of achievements in Malta and Gozo. Plus, the Verdala Palace was magical, the performances outstanding; and this was a wonderful way to come together and celebrate our collective successes. This event truly highlighted the strong bond we share as a team,” said Geoffrey Fichte, CEO at HSBC Malta.

The directorate for STEM (Science, Technology, Engineering, and Mathematics) and VET (Vocational Education and Training) Programmes, in its continuous effort to foster scientific curiosity and skills among young learners, has just concluded the 5th edition of the Primary STEM Challenge – an initiative for primary students in Years 3 to 6. This innovative initiative, which was supported by the HSBC Malta Foundation, invited primary students to delve into the fascinating world of Science, Technology, Engineering, and Mathematics.

A total of 50 primary students and 5 primary classroom teachers and their students from state and non-state schools participated in the 5^th edition of this challenge. Participants explored one of three engaging themes namely, Light, Soil, or Chemical Reactions through a hands-on investigative approach. Students were tasked with creating a brief, three-minute video to showcase their findings outlining the investigation process in a compelling manner. The submissions were evaluated by a team of professional adjudicators based on their scientific content, investigative skills, and the effectiveness of communication. Entrants could have participated individually or as a classroom and followed detailed guidelines.

Mr. Olaf Mc Kay Esplora Senior Director, emphasized the importance of such initiatives: “By engaging in the Primary STEM Challenge, students not only acquire essential 21st-century skills but also foster a lifelong interest in science and discovery which is at the very heart of our mission and vision at Esplora.”

HSBC Malta Foundation reaffirms its commitment to educational initiatives by providing attractive prizes for the top three entries in each theme category, as well as a special classroom prize. “Our support for the Primary STEM Challenge underlines HSBC’s dedication to nurturing young minds and contributing to the educational landscape of Malta,” said Paula Mamo on behalf of the HSBC Malta Foundation.

The first three winners in each category were announced on Friday 31^st May 2024 on the STEM & VET Curriculum Hub Facebook Page (ex-Science Centre Pembroke – Malta).

During a brief award ceremony held at the HSBC Hub, in Qormi, Ms Xanthe’ Schembri, Assistant Director STEM & VET Programmes within the Ministry for Education, Sport, Youth, Research and Innovation presented a certificate of participation to the winners. Dr Paula Mamo, Company Secretary at HSBC Malta presented the winning participants voucher awards sponsored by the HSBC Malta Foundation. Mr Des Zerafa Cini, Education Programme and Content Developer on behalf of Esplora presented the winners of the Science Communication Award Esplora Family Tickets including the Esplora Planetarium Experience.

BNF Bank’s London Branch hosted June’s Malta Business Network event at its office in Mayfair. The event focused on the connections and investment links between Malta and the UK from a banking and investment perspective.  The guests, hosted by BNF’s Chief Executive Officer David Power, came together to network and share business insights, opportunities and potential strategies, with the Malta-UK relationship serving as a common denominator and the intricacies of cross-border relations as a context.

“Malta and the UK have long enjoyed a strong economic partnership, underpinned by shared values and a mutual commitment to fostering business growth,” said David Power. “The UK has been one of Malta’s most significant trading partners, and our financial institutions have played a crucial role in facilitating this relationship and providing the necessary infrastructure to support cross-border investments, enabling businesses to thrive and economies to grow.”

“The UK’s departure from the European Union has introduced new complexities and market volatility, while ongoing adjustments and potential future changes continue to pose challenges,” he continued. “BNF Bank is well positioned to navigate these opportunities and challenges, adopting an agile, proactive and collaborative approach based on regulatory cooperation, investment in technology and strategic partnerships.”

BNF Bank London Branch Manager Andrew Woods highlighted the Bank’s position as the only Maltese bank operating a branch in the UK, offering clients assistance with their expansion plans in the UK through commercial real estate and deposits growth. “Finding the right financial partner for commercial real estate ventures is a crucial step in the success of a project – it’s not simply about securing funds but also about establishing a relationship that aligns with a project’s goals and the investor’s values. BNF Bank is exceptionally placed in this aspect, driven by the principle of customer-centricity.”

The Bank’s Chief Commercial Officer George Debono said “Malta’s profile as a financial centre is well acknowledged and BNF Bank is a key player in the local sector as one of the country’s core banks. Following a rigorous and challenging Third Country Branch application process, BNF is now also well set to become Malta’s bank of choice for cross-border business with the UK as well as UK based international investors that wishing to invest in Malta building on our reputation for strong customer relationships, regulatory compliance and forward-looking business vision.”

It’s the big 50 for Bank of Valletta, an important milestone in the Bank’s history, which is being celebrated throughout the year with various activities and events for the Bank’s customers and major stakeholders. In order to sustain the Bank’s longstanding endeavours to give back to the community it operates in, particularly the vulnerable members of our society, the Bank has entered into another yet major collaboration, this time with Puttinu Cares Foundation. Through this community project, the Bank will be supporting the Puttinu Cares Foundation in furnishing a brand-new apartment in London. This project follows on another collaboration recently announced with Caritas Malta, where BOV is supporting the kitchen renovation project of the men’s quarters in San Blas.

To launch this latest project, the Bank’s CEO Kenneth Farrugia, Chief Operations Officer Ernest Agius and Chief Personal and Wealth Officer Simon Azzopardi, made a courtesy visit to Sir Anthony Mamo Oncology Centre, where they were greeted by Puttinu Cares President Angele Cuschieri and CEO Rennie Zerafa. The Bank’s representatives were given an overview of the renovation project and were presented with the site plans of the newly purchased apartments in London. The London project, which will be receiving much-needed financing from the Bank, entails sponsorship of the kitchen, bedroom and bathroom. This support will surely help Puttinu to continue enhancing the invaluable assistance to Maltese citizens seeking medical treatment abroad.

Commenting on this collaboration, BOV CEO Kenneth Farrugia highlighted the positive impact that this project will have on patients and their accompanying relatives during the most difficult time of their lives. “In its decades-long history, Bank of Valletta has always strived to be an active and responsible corporate citizen. We continue with this effort even more so during this year as we celebrate our 50th Anniversary. We are currently embarking on a number of collaborations that will have long-term positive impact on different local communities for years and generations to come. The invaluable work done by the Puttinu Cares Foundation, and their dedication and support to families in need is commendable and we are indeed proud to be here today, offering a helping hand to those in need through this ambitious project.”

Speaking on behalf of Puttinu Cares Foundation, President Angele Cuschieri thanked Bank of Valletta for its continuous support along the years. “BOV is like a lifelong partner to Puttinu, having supported us with preferential loan terms when we were seeking financing options to purchase these apartments in London. The Bank supported us in our fundraising marathons on Good Friday. This project is probably the largest we have undertaken so far, and the support we are receiving is encouraging us and helping to bring the project to completion.”

Puttinu Cares Foundation is currently finishing off a total of 27 new apartments in London which will serve to keep on helping patients and their families seeking Cancer treatment in the UK. There are currently around 60 to 90 patients undergoing medical treatment and seeking shelter in London thanks to Puttinu Cares. The duration of their stay varies from days to months and some even for years.