Joseph R Aquilina has been appointed interim chairman of GlobalCapital p.l.c., replacing Dawood Rawat who has tendered his resignation after serving on the board since March 2003.

Mr Aquilina  was appointed director at GlobalCapital  in 2011 and has since served uninterruptedly.Mr Aquilina served as chairman and member of several company committees including the Remuneration Committee, the Investments Committee and the Risk Committee.

Mr Aquilina also serves as director on a number of the group’s regulated subsidiaries, including GlobalCapital Life Insurance Limited and GlobalCapital Health Insurance Agency Ltd.

GlobalCapital reported last week that  conservators of BAI Co. (Mtius) Ltd had been appointed by the Financial Services Commission of Mauritius.

BAI holds 48.45% of the ordinary shares of GlobalCapital.

GlobalCapital said its business and operations  are totally separate and distinct from
those of any of its shareholders, including BAI, and that the appointment of conservators of BAI does not relate to the business, operations or assets of the GlobalCapital Group.

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