The government has nominated Dr Gordon Cordina as the new chairman of the Board of the Bank of Valletta. His appointment, subject to Regulatory Approval, shall take effect on the 7th of October 2020, given that Dr Cordina will be fulfilling a cooling-off period of 6 months in view of his recent position as director on the Board of HSBC Malta Ltd.

During these six months of the cooling-off period, Alfred Lupi is being nominated as interim chairman.

The Bank of Valletta shall then be liaising with the MFSA to immediately initiate the process to inform the European Central Bank of these nominations, to conclude the fit and proper vetting procedures ideally before the Bank’s AGM.

Dr Gordon Cordina is a leading economist in the Maltese islands, with a professional experience spanning 25 years, covering banking, policymaking, academia and private sector consultancy. He is a graduate of the University of Cambridge and the University of Malta. His main area of academic interest is the growth and macroeconomic dynamics facing economies that are prone to heightened risks. 

Dr Cordina has several years of board and risk committee experience in major financial institutions in Malta. He served as manager of the Research Department of the Central Bank of Malta, Director General of the National Statistics Office of Malta, head of the Economics Department of the University of Malta and economic advisor to the Malta Council for Economic and Social Development. Through the private consultancy firm he co-founded in 2006, he is involved in a number of local and international research projects and consultancy assignments with institutions including the EU Commission, government ministries and authorities, NGOs and private sector entities. He is also a visiting senior lecturer at the University of Malta.

Minister for the Economy, Investment and Small Businesses Silvio Schembri thanked Taddeo Scerri for the work done at the Bank of Valletta and augured well Dr Gordon Cordina in his new endeavour.