Conference delivers message of continuing growth of Malta’s onshore European financial centre

Finance Malta, the public-private partnership set up to promote Malta’s financial services sector, successfully concluded its sixth annual conference at the Corinthia San Ġorġ, which was exceptionally well-received by over 300 delegates and speakers who focused on key developments in the global financial services industry.

Attending the conference is a great pulse check on the Maltese financial sector

The conference drew heavy attendance from the EU’s burgeoning investment community, as well as from around the world. The conference featured speakers from the European Central Bank, Government, the Malta Financial Services Authority (MFSA), economic ratings houses such as Bloomberg, The Financial Times, leading hedge funds, investment officers, investment consultants, family offices and professional practitioners, among others.

Grouping together policy makers, stakeholders and practitioners, the participants gathered for an expanded programme of industry updates, workshops and discussion of key issues underwritten by attracting a hub of sponsors who support the event.

Finance Malta’s annual conference has become an established part of the international financial services calendar and acts as part of the organisation’s remit to build greater visibility and credibility for Malta as a European Financial Centre (EFC).

Malta’s ‘open for quality business’ message was delivered directly through the active participation of Finance Minister Edward Scicluna as keynote speaker and conference chair Kenneth Farrugia, Finance Malta’s chairman.

“These conferences provide a critical opportunity for Malta to grow its business by establishing relationships with key sources of business, to educate and draw distinctions between our jurisdiction and others,” said Chris Bond, HSBC head of Global Banking and Markets.

“We have found that one of the real key opportunities for growth is driving home the message that Malta is a key onshore high-quality European jurisdiction, and we have actually heard that from Bloomberg, the ECB and other important stakeholders. Our market is far more efficient and affordable. We are more respected. And that message is resonating as we deliver it at these conferences.”

Malta was the leading country in attracting monetary financial institutions within the eurozone throughout 2012, according to a recent statement by the ECB. HSBC’s Mr Bond says Malta has a strong attraction as a location for fund management companies.

“We are seeing exciting growth in Malta’s fund management industry. As a leading international bank in Malta, HSBC is able to offer local banking services as well as global solutions from our major dealing centres.

“Finance Malta’s annual conference brings the international financial services community closer to the jurisdiction, and HSBC shows its support as a sponsor by helping to promote Malta on the world stage. As a sponsor, we would rather lead by example, financial services are now a key pillar of the economy ably represented by Finance Malta. The event gets better each and every year,” said Mr Bond.

Malta’s resident service providers are key attendees at the conference and showcase quality banking, legal, accounting, financial, trust, management and e-commerce services and products to the international delegates.

Finance Malta has been working with the private sector and the Government to develop and promote Malta as one of the world’s foremost centres for international business. This was reiterated by a number of delegates, including Carlos Garcia, head of Business Development at Barclays: “Attending the conference is a great ‘pulse check’ on the Maltese financial sector and wider commercial activity being undertaken on the island.

“For an external stakeholder, it provides very valuable knowledge which helps us shape our future strategy,” said Mr Garcia.

Mr Farrugia said: “We are excited to see so many delegates return to Malta and continue to build on the strong business relationships and connections between Malta and the rest of the industry. We had a wonderful line-up of dedicated and insightful speakers this time round who provided a wealth of information on the regulatory excellence, economic strength and intellectual capital in Malta.”

Anthony Fisher, an adviser to the MFSA, pointed out that investors are looking for financial institutions that are solid and for jurisdictions which offer quality of life, a sound system of regulation, robust banks, a strong and independent political system and a competitive tax framework. He underlined that Malta had all these qualities to fill the needs of being a financial hub in the Mediterranean region and that the country can play a pivotal role and take advantage of its strategic location while positioning itself as a platform between Europe, Africa and the Middle East.

Finance Malta’s head of business development Bruno L’ecuyer said: “Having won international respect for the excellence of its financial services industry and establishing itself as one of the safest and best run financial centres in Europe, Malta’s legal and regulatory framework now holds major appeal.”

For more information, visit www.financemalta.org.