Bank of Valletta plc – Change of Chairman and Director of Bank of Valletta p.l.c.

Bank of Valletta plc announced that on Friday 5 April 2013, the Bank was notified by the Government of Malta that it is nominating Mr John Cassar White residing at 30, San José, Lord Byron Street, Naxxar NXR 4142 as Chairman and Director.

The Government is also nominating Mr Taddeo Scerri of Ghorfa, Triq il-Bahar l-Iswed, San Gwann SGN 1851 as Director of Bank of Valletta p.l.c.

Mr Cassar White will be succeeding Mr Frederick Mifsud Bonnici after the Government of Malta accepted the offer of resignation of Mr Frederick Mifsud Bonnici. Mr Taddeo Scerri will be replacing Dr Gordon Cordina whose offer of resignation was also accepted by the Government of Malta.

Mr Cassar White retired from Bank of Valletta p.l.c. in May 2008 after a professional career with the Bank spanning over 36 years. His latest position within the Bank was of Chief Officer Risk Management. He previously occupied senior executive positions within the Bank in Information Technology, Administration, Finance and Credit. He also served as director of a number of state owned companies as well as private investment companies.

Mr Scerri is one of the founding partners of RSM Malta and is currently the Managing Partner. He was previously the deputy managing partner of one of the big four firms and prior that, he was managing partner of the Arthur Andersen representative office in Malta. Mr Scerri has extensive experience in providing audit and advisory services to companies operating in diverse industry sectors including manufacturing, hospitality, public sector, retail and others. Mr Scerri is a Fellow of the Association of Chartered Certified Accountants (FCCA) and a Fellow of the Malta Institute of Accountants.

The Bank is undertaking the necessary regulatory procedures with the Malta Financial Services Authority in relation to these appointments.

There is no matter concerning Mr Cassar White and Mr Scerri which requires disclosure under Listing Rule 5.20.5 to Listing Rule 5.20.9.

To view the official company announcement, click here.