Bank of Valletta this week announced key senior executive management appointments.
Elvia George has been appointed Chief Officer Finance and Michael Borg Costanzi Chief Officer Legal and Compliance. Peter Perotti and Kenneth Farrugia have been promoted to chief officers responsible for Valletta Fund Management Ltd and Valletta Fund Services Ltd, respectively. With the other chief officers, they will be members of the bank's executive committee, chaired by chief executive officer Tonio Depasquale.
Mario Mallia, who until now occupied the post of Chief Officer Finance, takes on the role of Chief Officer Risk Management from John Cassar White, who has retired from the bank. Mr Mallia will be responsible for all aspects of risk management for the group.
Elvia George joined BoV in 1981 and was involved in several areas within the organisation. For the past few years, she occupied the post of Executive Head, Finance, and was also a member of the Credit Committee and the Asset and Liability Management Committee (ALCO). She is responsible for published group financial statements, management and regulatory reporting, budgeting and forecasts, tax, cost management, custody and settlement of treasury operations.
The mother of two also lectures at the University of Malta and is a member of the board of governors at the Convent of the Sacred Heart Foundation.
Michael Borg Costanzi joined the bank in 1980 and graduated as a lawyer from the University of Malta in 1993. He is a visiting lecturer on banking law at the University of Malta and lectures at the Institute of Financial Services.
For the past few years he was executive head of the legal office and was also a member of the executive committee and the compliance committee.
As Chief Officer Legal and Compliance, Dr Borg Costanzi is responsible for the legal office, the compliance unit and the office of the company secretary.
Since joining the bank in 1985, Kenneth Farrugia has occupied various roles within the BoV Group. In 1995, he was appointed to a management position at Valletta Fund Management Limited. He was appointed assistant general manager of the company in 1999 and general manager in December 2004. Following the setting up of Valletta Fund Services Limited, BoV's new fund servicing operation, he was named director on the board of Valletta Fund Management and general manager.
He currently also serves as chairman of Malta's Financial Services Consultative Council, and chairman of the Malta Association for Fund Managers and Administrators. He is also vice-chairman on the board of governors of Finance Malta. He has addressed several conferences both locally and abroad on matters related to Malta's fund industry.
Peter Perotti joined Bank of Valletta Group in 1979 and is general manager of Valletta Fund Management.
Throughout his career at the bank he worked in several branches and head office departments. He was personal assistant to the bank chairman between 1989 and 1991 and was responsible for the bank's representative office in Milan for five years and also worked in the bank's offices in Sydney and Melbourne.
Before his current appointment he was executive head of Wealth Management and International Clients, with direct responsibility for the bank's personal and corporate international clients and for the group's personal wealth management customers.
He is chairman of Bank of Valletta's Trusts Committee and an associate of the Chartered Institute of Bankers.
Since 1979, Mario Mallia has held several key senior executive positions, the most recent being that of Chief Officer Finance since 2005. He is the chairman of both the bank's asset and liability management committee and the credit committee.
Mr Mallia is director of Malta Venture Capital plc.
"I am confident that the new appointments will further strengthen our senior executive team, bringing in new ideas with a marked degree of competence, drive, determination and enthusiasm," Mr Depasquale said. "Backed by their extensive experience, all new chief officers have much to contribute towards the future successes of Bank of Valletta and to enable us to strengthen our position as Malta's major financial services organisation."