Valletta, Malta - October 11, 2010, Valletta, Malta - Bank of Valletta announced that it has appointed Tonio Depasquale as chief executive officer for a period through to December 31, 2011.
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Mr. Depasquale already served as CEO of the bank since July 15, 2004. He joined the Bank in 1969 and has held a number of key senior management positions in the Group, the most recent being that of Chief Officer, Credit Management & Retail Business where he was appointed on July 1, 2002.
Mr. Depasquale has held the post of director at Valletta Fund Management Limited (appointed 1 January 2003), Middlesea Valletta Life Assurance Company Limited (appointed 1 October 2002), and BOV Stockbrokers Limited (appointed 22 September 2002).
Mr. Depasquale has also served as a director of Valletta Portfolio Funds Sicav (appointed 24 December 2001) Chairman since 17 April 2002, Cotswold Development Limited (appointed 1 September 2000), as Chairman of Wignacourt Funds Sicav plc (appointed 16 February 2000), and as a director of La Valette Funds Sicav plc (appointed 18 December 1997).
The Bank of Valletta also announced that Michael Galea has been named as chief officer of operations, and Albert Frendo as chief credit officer and member of the executive committee.
Mr. Galea joined the Bank in 1987 and has since held a series of senior management positions within the Group. In 2008, he was appointed Executive Head responsible for Cards Business.
Mr. Galea has served as Head of the Bank's PR & Communications function wherein he was also the Bank's official spokesperson. He was also Head of Marketing, Communication and Quality. His responsibilities included the management of the Brand, the corporate reputation of the organisation, internal and external communication, as well as the development of the Bank's Corporate Responsibility programme.
In 2007, Mr. Galea was appointed Executive Head at the CEO's Office, and was also assigned as Secretary to the Bank’s Executive Management Committee.
Mr. Galea is a graduate in Business Management and has read for Masters Degrees in European Studies and Integrated Marketing Communications at the University of Malta. He is also an Associate of the Trinity College of London.
Mr. Frendo has been employed with Bank of Valletta since 1984 except for a two year stint in the private sector. Since 2008, Albert held the post of Executive Head, Risk Management responsible for the management of financial and non-financial risk within the Group including credit, market, operational, solvency and liquidity risks.
Mr. Frendo is a member of a number of committees within the Bank, mainly the Risk Committee, the Credit Committee, the Investment Committee and the Bank’s Asset and Liability Committee (ALCO). He is also responsible for presenting Credit proposals to the Board of Directors, together with the Chief Officer Risk Management, for their consideration.
Mr. Frendo has previously occupied various other roles at Bank of Valletta including heading the Credit Risk Management Unit, the Bank’s Cost Efficiency Unit and the financial accounting function within the Finance Department. ■