Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
PETER J. BALDACCHINO
Accountancy Department, University of Malta
Bio Note
Peter J. Baldacchino is a Senior Lecturer in Auditing and Financial Strategy at the University
of Malta and also a Chartered Certified Accountant and member of various international
accountancy bodies. He holds an M.Phil from the University of Loughborough and his main
current research interests relate to corporate governance, internal auditing and strategic
financial management. He has held various financial and banking positions including that of
Director of the Central Bank of Malta.
At present, he is Board Director and member of Audit Committee of Maltacom p.l.c , the
main Maltese Telecommunications Company and is also consultant to a number of Maltese
financial and non-financial institutions as well as co-operatives. He has also published papers
on accountancy and auditor-management relationship issues from a microstate perspective.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
GEOFFREY BEZZINA
Deputy Director, Consumer Complaints Unit,
Malta Financial Services Authority
Bio - Note
Geoffrey Bezzina is Deputy Director, Consumer Complaints Unit at the Malta Financial
Services Authority (MFSA). Since 1 October 2002, with the coming into force of the Malta
Financial Services Authority Act, Mr Bezzina is also the Consumer Complaints Manager. The
law gives the Complaints Manager the function to investigate complaints on financial services
transactions from private customers. The Consumer Complaints Unit is also responsible for
the provision of consumer education and information about financial services and to answer
queries from the public on financial services in general.
Mr Bezzina has been an official of the MFSA (then Malta Financial Services Centre) since
September 1995. He has edited and co-ordinated the Authority’s publications aimed towards
educating the consumer on various aspects of financial services. He is also a frequent guest
on local radio and TV stations.
He is also the secretary of the Compensation Schemes Management Committee responsible
for the management and administration of the Investor Compensation and the Depositor
Compensation Schemes in Malta, and the secretary of the Protection and Compensation Fund
Management Committee, an insurance guarantee fund.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
MIGUEL BORG
Executive Head – Risk Management, Bank of Valletta Group
Bio - Note
Miguel Borg occupies the position of Executive Head – Risk Management at the Bank of
Valletta Group. He is responsible for the implementation of the enterprise risk management
framework and for the management of the main material risks within the Group. He is also the
ICAAP Executive for the Group. Previously, he occupied the position of Group
Risk Consultant with the Bank.
Prior to his employment in the private sector, he was employed with the Financial Stability
Office at the Central Bank of Malta. His responsibilities included macro stress testing,
quantitative risk modelling, liquidity risk management and banking regulation.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
LINO BRIGUGLIO
Head, Department of Economics and
Director, Islands and Small States Institute, University of Malta
Bio Note
Professor Lino Briguglio (born January 1944) is Head of the Economics and of the Banking
and Finance Departments at the University of Malta. He also directs the Islands and Small
States Institute of the Foundation for International Studies and the University Centre on the
Island of Gozo.
He possesses a Ph.D. in Economics from the University of Exeter (UK) and a Special
Diploma in Social Studies from the University of Oxford. He obtained his Honours and
Master’s degree in Economics from the University of Malta.
His main area of interest is islands and small states studies, in particular economic aspects,
and he has authored many publications on this subject. He is known internationally for his
seminal work on the “Vulnerability Index” (see for example World Development, Sept 1995)
which led to a world-wide interest and to many quantitative studies on Economic and
Environmental Vulnerability.
Professor Briguglio is the general editor of the Islands Series published by Cassell-Pinter of
London, editor of Bank of Valletta Review published by the Bank of Valletta and one of the
editors of Insula International Journal of Island Affairs, published in collaboration with
UNESCO. He also serves on the editorial boards of a number of other journals.
Professor Briguglio has acted as consultant to several international organisations including the
UN Department of Policy Coordination, UNCTAD, UNEP, UNDP, CARICOM, the
Commonwealth Secretariat and SOPAC, on the construction of an index measuring the
economic and environmental vulnerability of small island states. He has also represented the
Maltese government in United Nations meetings dealing with island affairs, including the UN
Global Conference on the Sustainable Development of Small Island States.
Prof. Briguglio is one of the lead authors for the chapter on Small Island States of the Third
Assessment Report by the Intergovernmental Panel on Climate Change.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
SILVIO CAMILLERI
Lecturer, University of Malta
Bio - Note
Dr. Silvio John Camilleri studied Banking and Finance at the University of Malta and
subsequently with the University of London from where he obtained a Masters Degree in
Financial Management. He completed his PhD programme at the Economics Department of
Loughborough University, where he conducted empirical research on the microstructure of
emerging securities markets.
Dr. Camilleri lectures at the Banking and Finance Department of the University of Malta and
has published research in journals and scholarly collections. He also worked at the Group
Treasury Department of Air Malta Company Ltd., where he was a member of the Investments
Committee.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
GORDON CORDINA
Head, Economics Department, University of Malta
Bio - Note
Dr Gordon Cordina holds the post of Head of Economics Department Faculty of Economics,
Management & Accountancy at the University of Malta. His main area of research interest is
the growth and macroeconomic dynamics of small and micro economies. He has published
widely in this area, on aspects ranging from macroeconomic and growth patterns to pension
reform to environmental sustainability. Dr Cordina has served as Director General of the
National Statistics Office, as Economic Advisor to the Malta Council for Economic and
Social Development and as Head of the Research Department of the Central Bank of Malta.
He has been involved in a number of local and international research projects and consultancy
assignments with institutions including the EU Commission, various Government Ministries
and private sector institutions.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
DAVID G. CURMI
Chief Executive Officer,
Middlesea Valletta Life Assurance Co. Ltd
Bio - Note
Mr. Curmi is the Chief Executive Officer of Middlesea Valletta Life Assurance Co. Ltd. the
largest life assurance company in Malta and Chief Executive Officer and Director of Growth
Investments Ltd. the exclusive representative of Fidelity Investment Funds in Malta.
Mr. Curmi is an Associate of the Chartered Institute of Insurance and a Chartered Insurer.
Mr. Curmi started his career in the insurance industry thirty years ago during which time he
held various senior positions with insurance operators in the Maltese market. Mr. Curmi also
serves as a director of various companies in Malta.
Mr. Curmi is a regular lecturer on a various insurance topics at the Malta Insurance Training
Centre and at the University of Malta.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
JOE ESPOSITO
The Executive Head of the Trade Finance Centre ,Bank of Valletta Plc
Bio Note
Joe Esposito is the Executive Head of the Trade Finance Centre of the Bank of Valletta Plc.
He has held this position since 1997. Mr. Esposito joined the Bank of Valletta in 1974 and for
the last 35years he has been posted in various major branches in which he mainly performed
foreign related duties. During the last ten years, given his considerable experience in foreign
work, he has also conducted all foreign in-house courses at the bank and a number of courses
at METCO. Mr. Esposito attended various courses in Documentary Credits abroad and, in the
past he has also participated in METCO Trade Missions. In 2000 Mr. Esposito concluded
successfully his Certified Documentary Credits Diploma after completing a course offered by
the International Financial Services Association and the Chartered Institute of Bankers. Mr.
Esposito is 58 years old married with one child.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
DAVID FABRI
Head of the Legal and International Affairs Unit,
Malta Financial Services Authority
Bio - Note
David Fabri graduated in law in 1979. In 1992, after ten years working with a leading audit
firm, he joined the Malta International Business Authority, now known as the Malta Financial
Services Authority, where he heads the legal and international affairs unit and serves as
Secretary to the Board of Governors. He is currently the Head of the Commercial Law
Department at the University of Malta and the co-ordinator of the Masters in Financial
Services course. He lectures and writes regularly on consumer protection, financial services
and corporate law subjects. Since 1991, he has been closely involved in drawing up of policy
and legislative measures in these areas, including the local transposition of many EC
Directives.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
GEORGE FARRUGIA
Senior Analyst, the Financial Intelligence Analysis Unit, FIAU
Bio - Note
George Farrugia is a Senior Analyst at the Financial Intelligence Analysis Unit (FIAU). He
has over 20 years experience in the financial services industry ranging from banking to
marketing and investment services. Mr. Farrugia holds a Masters degree in Business
Administration and a first degree in Business Management.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
KAROL GABARRETTA
Director, Banking Unit
Malta Financial Services Authority
Bio Note
Karol currently holds the position of Director heading the Banking Supervision Unit within
the MFSA. He joined the MFSA in 2002 following a 23-year stint with the Central Bank of
Malta, where he worked in several divisions including Economics and Research, Banking
Regulation, and Financial Stability. Karol holds a Bachelor’s degree in Economics and a postgraduate degree in Financial Services from the University of Malta, and has made various
contributions on inter alia prudential controls, financial stability, capital adequacy, the local
banking regulatory and supervisory system and issues arising from Basel II, III. He currently
represents the MFSA as alternate Member on the European Banking Authority which since
January 2011 has taken over all existing and ongoing tasks and responsibilities from the
Committee of European Banking Supervisors (CEBS) where he was the Authority’s
representative. During 2009, Karol was appointed as Chair of the CEBS’ Task Force on
Supervisory Disclosure (TFSD). He also provides assistance in the EU Commission’s TAIEX
program as an Expert on Banking Provisions of Financial Services acquis.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
MARIO MALLIA
Chief Risk Officer, Bank of Valletta Group
Bio Note
Mario Mallia, an accountant by profession, is Chief Risk Officer at the Bank of Valletta
Group, where he is responsible for the management of both financial and non-financial risk.
Mario is chairman of the Asset-Liability Management Committee (ALCO) and of the Credit
Committee at BOV. He is also a member of the Group Executive Committee, and a director
on the board of MSV Life plc.
Mario has worked for BOV since 1979, and has occupied the post of CRO since May 2008.
He has previously carried out various other roles at BOV, the most recent being that of Chief
Finance Officer. His main professional interests are bank capital management and risk-based
performance measurement.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
MIRKO MALLIA
Senior Analyst- The Financial Stability Office
Central Bank of Malta
Bio Note
Mirko Mallia is a Senior Analyst working in the Financial Stability Office at the Central Bank
of Malta. He obtained his B.Com in Economics from the University of Malta in 2003 and
Masters in Economics from the same University in 2005. His main research interests refer to
the Labour Economics, Financial Stability and Finance. Both dissertations submitted in
completion of the B.Com (Hons) and M.A in economics were related to the Labour Market.
The M.A. Dissertation on which he based the article entitled “The Maltese Labour Market and
Frictional Unemployment”, was published in the Bank of Valletta Review, No.32, Autumn
2005. The dissertation mainly examined the extent to which unemployment in Malta was
caused by frictional factors rather than the persistence of disequilibrium conditions. During
the past years at the Central Bank, he has actively contributed to the Financial Stability
Report, which was published for the first time in 2008. During the years, he has worked on
various areas of the report including the financial and non-financial sectors as well as policy
response and implications section. In addition, he has actively contributed and participated in
a number of European System of Central Banks (ESCB) working group and task forces.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
ANDREW PORTELLI
Senior Economist, The Central Bank of Malta
Bio - Note
Andrew Portelli is a Senior Economist at the Stress Testing and Risk Models Unit of the
Central Bank of Malta. His areas of specialisation include credit and market risk modelling
and management, bond pricing techniques and portfolio allocation. Andrew holds a MA in
Economics from the University of Malta and an MSc in Finance from the University of York,
UK.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
JOE ESPOSITO
The Executive Head of the Trade Finance Centre ,Bank of Valletta Plc
Bio Note
Joe Esposito is the Executive Head of the Trade Finance Centre of the Bank of Valletta Plc.
He has held this position since 1997. Mr. Esposito joined the Bank of Valletta in 1974 and for
the last 35years he has been posted in various major branches in which he mainly performed
foreign related duties. During the last ten years, given his considerable experience in foreign
work, he has also conducted all foreign in-house courses at the bank and a number of courses
at METCO. Mr. Esposito attended various courses in Documentary Credits abroad and, in the
past he has also participated in METCO Trade Missions. In 2000 Mr. Esposito concluded
successfully his Certified Documentary Credits Diploma after completing a course offered by
the International Financial Services Association and the Chartered Institute of Bankers. Mr.
Esposito is 58 years old married with one child.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
PAUL GAUCI
Heads, Bank of Valletta’s Training & Consultancy Unit, Bank of Valletta plc
Bio Note
Paul Gauci studied at the University of Malta where he graduated B.A. (Hons) Business
Management in 1986 and has, since then, specialised in human resources training &
development, continuing his formal studies through a Masters degree, being awarded a
distinction in the M.Ed (Training and Development) course from the University of Sheffield,
England in 1992. He is a Chartered trainer and lecturer in management education and
development with 20 years experience delivering training within the financial services
industry. Paul Gauci heads Bank of Valletta’s Training & Consultancy Unit and has
delivered training projects both locally and abroad. Since 1994 he has been a Visiting
Lecturer at the University of Malta; Maastricht School of Management and Henley Business
School in ‘Organisational Behaviour’; ‘Human Resource Management’ and ‘Leadership and
Organisational Learning’.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
LILIANA PORTELLI
The Operational Risk unit at Bank of Valletta plc
Bio Note
Liliana Portelli heads the Operational Risk unit at Bank of Valletta. She has driven the Bank’s
implementation of the Operational Risk Management Framework for the past 2 years and has
previously held roles in Knowledge Services and Strategic Planning. For a number of years
she has gained experience in the bank’s operations, thus developing an understanding of retail
processes. She has read for a Masters Degree in Business Administration.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
CLAUDIA RAUSI
Head the Risk Research & Regulation Unit within the Risk Management Unit at Bank
of Valletta plc
Bio Note
Claudia Rausi heads the Risk Research & Regulation Unit within the Risk Management Unit
at BOV, following a management post held at Market Risk. Formerly Head Compliance,
Corporate Services & Risk Management at Valletta Fund Services, a subsidiary of the BOV
group and a spin off company of another BOV subsidiary Valletta Fund Management
Limited, where she worked for over ten years. She sits on a number of Committees within
BOV Group, including the NPAC on New Products and Trust Committee. She read a Masters
Degree in Business and holds, CeFA, a Post Graduate Certificate in Education, and a
Bachelor Degree in Psychology and Philosophy with the University of Malta.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta
Banking and Finance in Small States: Issues and Policies
Valletta, Malta: 11-19 April 2011
KAREN SCERRI
Credit Risk Analyst within the Credit Risk Management Unit at
Bank of Valletta plc
Bio Note
Karen Scerri is a Credit Risk Analyst within the Credit Risk Management Unit at Bank of
Valletta. Besides responsibility for the Bank’s credit policies and the dissemination of good
banking practice to the Bank’s lending staff, the role entails carrying out risk analyses of the
Bank’s corporate lending requests and their reporting to the Credit Committee and the Board
of Directors, as well as a number of functions relating to the monitoring of the Bank’s credit
portfolio. Karen has previously held positions within the Bank’s Cost Efficiency Unit, SME
Support Unit and Legal Office. In the last few years she has lectured within the Credit Faculty
of the Bank’s Training Programme, mainly in the areas of credit risk and creative accounting.
Karen holds a degree in Accountancy (University of Malta) and an MBA in Management
Consulting (Grenoble Graduate School of Business). She is married to Herbert and they have
a daughter, Lara.
Workshop organised by the
Islands and Small States Institute of the University of Malta,
in collaboration with the Commonwealth Secretariat and the
Ministry of Foreign Affairs, Malta