Joseph C. Schembri and Mario P. Galea have been appointed non-executive directors of GlobalCapital, subject to regulatory clearance.

Mr Schembri will also act as the chairman of the company’s audit committee while Mr Galea will act as a member of the committee.

Mr Schembri is a fellow of the Chartered and Certified Accountants in UK (FCCA) and a fellow of the Malta Institute of Accountants.

His audit experience spans across a number of industries including banking, insurance, IT and funds. He was senior partner of KPMG Malta until September 2012 and acted as audit engagement leader of KPMG and risk management principal for the Libyan firm of KPMG until 2014.

Today, he serves as consultant and audit engagement leader of Baker Tilly Sant.

Mr Galea was founder, managing partner and chairman of Ernst & Young Malta until he retired in 2012. He is a certified public accountant and auditor, a fellow of the Association of Chartered Certified Accountants and a fellow of the Malta Institute of Accountants.

He has served as president of the Malta Institute of Accountants and held various other positions in the institute, Federation des Comptables Européens and the accountancy board.

He currently serves on a number of boards of directors, finance committees and audit committees in various positions including on the board of Mediterranean Investment Holdings and Santumas Shareholdings.

He has provided audit and professional advice to clients in various sectors including the public sector, banking, insurance and commerce.  

The board of directors has also accepted the resignation of Moussa I. Rawat from the office of director and deputy chairman of the Company with immediate effect. Mr Rawat is also stepping down from the post of director on the company’s subsidiaries.