Lombard Bank Malta chief executive officer and director Joseph Said has been appointed chairman of Maltapost, succeeding David Stellini who will retain a place on the board.

This change follows the recent acquisition by Redbox Ltd, a subsidiary of Lombard Bank, of an additional 25 per cent shareholding in Maltapost, raising Lombard’s total shareholding in the company to 60per cent.

The Board of Maltapost is comprised of Joseph Azzopardi, Ian Pellicano, Joseph Said, David Stellini, Philip Tabone, and newly appointed director Aurelio Theuma, who is the chief financial officer of Lombard Bank Malta.