HSBC Bank Malta announced that Godfrey Swain, the bank’s Head of Personal Financial Services, has been promoted to a new senior grade within the group’s global hierarchical management structure.

“This is the first time that a Maltese executive has been appointed to this senior grade within HSBC Group and is a vote of confidence by the group in its PFS franchise in Malta,” said HSBC Malta CEO Shaun Wallis.

Mr Swain was first appointed to the position of Head of Personal Financial Services in January 2006. Under his guidance, a highly motivated management team has driven HSBC Malta’s PFS business to record growth of 41 per cent from 2005 to 2006 and a further 21 per cent growth from 2006 to 2007. The PFS customer group now contributes nearly 50 per cent of HSBC Malta’s operating income.

An executive director of HSBC Life Assurance (Malta) Limited, Mr Swain is also a director on the boards of HSBC Fund Management (Malta) Limited and HSBC International Financial Advisers (Malta) Limited.

Mr Swain said: “This appointment is, more than anything else, a reflection of the tightly knit and highly committed management team within PFS Malta and our superb 700 strong PFS staff working in the various units. Together, in the last two years, we have delivered some results that make our team proud.”

A graduate in business management from Monash University in Victoria, Australia, he has enjoyed a long career working in different continents mainly in banking, insurance and aviation