Bank of Valletta has announced that, with immediate effect, Charles Borg who was general manager of Valletta Fund Management Ltd, a BOV subsidiary, has been appointed Executive Head in the Chief Executive Officer’s Office at Bank of Valletta. Kenneth Farrugia succeeds Mr Borg as Valletta Fund Management’s general manager. Concurrently, Anthony Scicluna has been appointed Executive Head, Audit.
In a short comment during his first official meeting with the three new appointees, BOV’s Chief Executive Officer, Tonio Depasquale, wished them every success in their new roles. “You have been given new and more challenging responsibilities with a bank that is itself facing new and challenging opportunities,” said Mr Depasquale. “These new opportunities require us to respond effectively to the changing demands of an increasingly competitive market. We are sure that, in your new roles, you will bring to bear your experience and commitment to spearhead BOV to achieve even higher goals,” Mr Depasquale said.
Charles Borg joined Bank of Valletta in December 1981. After serving in a number of branches and specialised departments, Mr Borg moved to Valletta Fund Management Ltd, the bank’s fund management arm. Between October 1999 and January 2005, he served as general manager at Valletta Fund Management Ltd. For three years, between June 2001 to June 2004, he also held the presidency of the Institute of Financial Services (Malta). In his new role as executive head in the CEO’s Office, Mr Borg will be closely assisting the CEO in the bank’s day to day operations.
Kenneth Farrugia joined the Bank of Valletta Group in October 1985. In 1994 he was appointed to a management position during the setting up of Valletta Fund Management. In 1999 he was appointed assistant general manager of the company. Kenneth has furthered his studies in the areas of business management and administration, marketing, and accountancy. Kenneth currently delivers lectures on Investments and Risk at the Institute of Financial Services (Malta Branch).
Anthony Scicluna joined Bank of Valletta in 1984 and in 1992 joined the bank’s Internal Audit working mostly on audit assignments relating to treasury, stockbroking, fund
management, head office departments, compliance and risk management. Anthony also led audit assignments at the bank’s overseas representative offices in Canada, Australia, Italy and Tunisia. Between October 2002 and December 2004 Anthony occupied the post of Head of Internal Audit. Anthony holds a degree in business management and is also a Fellow Member of the Malta Institute of Accountants, a Certified Public Accountant and a member of the Malta Institute of Management.