Karol Gabarretta is the new secretary general of the Malta Bankers' Association as from 23 July. He succeeded James Bonello who retired after 14 years in office.

In his capacity as MBA secretary general, Gabarretta will be representing the association on various local bodies, such as the board of governors of FinanceMalta. He will also sit on the executive committee of the European Banking Federation, which is committed to supporting policies that foster economic growth and jobs and unites 32 national banking associations in Europe.

Commenting on the appointment of the new secretary general, MBA chairman, Marcel Cassar said that: "Karol's appointment comes at a time of unprecedented challenges for the banking industry and I am sure that his extensive international experience and connections, together with his wide knowledge of regulation and supervision, will be very opportune for the Maltese banking community. The MBA itself will be looking at its future development so his arrival is very timely. We wish him well."

Gabarretta was previously the director of Banking Supervision at the Malta Financial Services Authority , which he joined in 2002. He also sat on the Supervisory Board of the ECB. Prior to joining the MFSA he spent 23 years at the Central Bank of Malta where he worked in several divisions including Economics and Research, Banking Regulation and Financial Stability.