Bank of Valletta said today it had confirmed Tonio Depasquale as Chief Executive Officer through to December 31, 2011 and appointed Michael Galea and Albert Frendo as chief officers.

Mr Galea is Chief Officer – Operations and member of the Executive Committee. He succeeds Igino Xuereb, who has retired after 41 years of service with the bank. Mr Galea joined the Bank in March 1987. He has a number of senior key executive positions in the bank, the most recent being that of Executive Head Card Services.

The bank also announced that Albert Frendo has been appointed Chief Officer – Credit and member of the Executive Committee in succession to John Soler, who will retire on December 1, after 42 years of service with the bank.

Mr Frendo joined the Bank in February 1984. Between April 1990 and August 1992, he worked in the private sector. He rejoined the bank in August 1992, and since then has held a number of key senior executive positions in the bank, the most recent being that of Executive Head Risk Management.