Karol Gabarretta took over  as general secretary of the Malta Bankers’ Association on July 23. He succeeded James Bonello who retired after 14 years in office.

Mr Gabarretta will be representing the association on a number of local bodies, such as the board of governors of FinanceMalta. He will also sit on the executive committee of the European Banking Federation, which is committed to supporting policies that foster economic growth and jobs and unites 32 national banking associations in Europe.

[attach id=665623 size="medium" align="right"]Karol Gabarretta[/attach]

Commenting on the appointment of the new general secretary, association chairman Marcel Cassar said:

“Karol’s appointment comes at a time of unprecedented challenges for the banking industry and I am sure that his extensive international experience and connections, together with his wide knowledge of regulation and supervision, will be very opportune for the Maltese banking community. The MBA itself will be looking at its future development, so his arrival is very timely. We wish him well.”

Mr Gabarretta was previously the director of banking supervision at the Malta Financial Services Authority, which he joined in 2002.

He also sat on the Supervisory Board of the European Central Bank.

Prior to joining the financial services watchdog, he spent 23 years at the Central Bank of Malta where he worked in several divisions including economics and research, banking regulation and financial stability.

Mr Gabarretta holds a Bachelor’s degree in economics and a post-graduate degree in financial services from the University of Malta. Past appointments include that of chair of the Committee of European Banking Supervisors, Task Force on Supervisory Disclosure and an expert on banking provisions of financial services acquis within the European Commission’s TAIEX programme.