Global Capital’s new €6 million corporate offices in Gzira’s Testaferrata Street were inaugurated by Prime Minister Lawrence Gonzi earlier this month.
The financial services provider’s chairman Nicholas Ashford-Hodges described the state-of-the-art building as representing the beginning of another exciting chapter in Global Capital’s corporate history.
The building brings together most of the Global Capital group’s operations under one roof in the first three floors while the other two floors available for lease to prime tenants.
“This new head office underlines our continuing commitment to offer an improved level of service to clients, to providing a productive, cost-efficient and engaging working environment for our 150 staff, and to developing synergies that will ensure long-term savings of direct benefit to the group’s bottom line through enhanced operational efficiency,” he explained.
He added that the performance indicators for the core business during the first part of 2011 appear to be a source of optimism to the company, although the investment markets continue to be challenging.
The company was keen to assist the government to achieve the best possible retirement pension framework for Malta.
Global Capital chief executive officer Bashar Khatib said the new corporate offices now house Global Capital plc and its subsidiaries Global Capital Life Insurance Limited, Global Capital Health Insurance Agency and Global Capital Financial Management.
Mr Khatib pointed out the offices were also contributing to job creation and the capital invested was enhancing the development of the Testaferrata Street area as a central business location.
Dr Gonzi told guests Malta’s financial services sector had developed into a main engine of economic growth, enjoying a growth rate of more than 30 per cent last year.
The sector was also experiencing diversification with the emergence of new niche sub-sectors like fund management, wealth management and insurance.
With over 90 companies now active, including international players in the captive and commercial insurance operations, insurance management and brokering, employment has continued to expand, increasing by over five per cent last year.
Global Capital plc is listed on the Malta Stock Exchange.