ReAPS Asset Management Ltd is a new subsidiary of APS Bank that will act as the investment manager of the APS SICAV plc funds.
Incorporated in 2016 and licensed on April 4, 2017, as a Category Licence 2 holder by the Malta Financial Services Authority, ReAPS will take over from the bank the management of the APS SICAV plc, which earlier this year was converted into a UCITS scheme. The bank will also retain its status as the main reseller of the APS Income and Ethical funds and will also provide sub-investment management services to ReAPS.
“The formation and licensing of ReAPS mark the intentions of APS Bank to continue building its investment management capabilities and attest to the growth and performance potential of the APS Funds and other future investment products,” said APS Bank chief financial officer Noel McCarthy.
Hertz Malta appoints new GM
Hertz Malta, operated by United Garage Ltd, has appointed Ron Scerri as general manager of its local car rental and lease operations.
United Garage Ltd has been operating the leading car rental brand since 1961.
Mr Scerri comes with years of experience in management having worked with some leading international brands both locally and abroad.
Commenting on his new appointment, Mr Scerri said: “I am proud to be joining Hertz Malta at such an important and exciting time for the company. The Hertz brand has a rich legacy in the local car rental and lease sectors with more than half a century of experience in the country.”
Hertz Malta recently opened its new headquarters in Luqa, a few minutes from the airport.
“These new offices not only helped us reorganise our management and administration teams to be able to function more effectively, but will also allow us to re-assess and strengthen our customer-service approach, and more importantly, Hertz’s local presence and visibility.”
“As we gear ourselves up for the approaching busy summer season, Hertz in Malta is in the process of boosting its fleet of rental cars with new and interesting makes and models to continue to fulfill all our customers’ needs and preferences,” said Mr Scerri.