Reference is made to letter to the editor from HSBC’s Head of Public Affairs (TMID, 3 August).

We have no reason to doubt that HSBC have been offering trustee services for the past 13 months. Likewise Bank of Valletta, through its Wealth Management Division, has been providing similar services during the same period and has concluded a significant number of deeds.

Encouraged by the success achieved in this sector, Bank of Valletta has now set up a new, fully dedicated, business unit focusing solely on the provision of Trustee services.

The setting up of the new BOV Trusts Unit underlines the bank’s strategy to be a major player in providing long term and added value services to the bank’s customers in the areas of trusts.

The Unit is led by Paul Gauci and includes a full time legal advisor, Dr Andrew Chetcuti Ganado and a team of Trust administrators. It is based at 58, Zachary Street, Valletta.

I trust that this clarifies any misunderstandings.

Michael Galea

Head PR, Communication & Corporate Branding

Bank of Valletta plc