Bank of Valletta CEO to leave at year’s end

Published: August 27, 2015 at 4:53pm
Charles Borg, the Bank of Valletta's chief executive officer, who will leave at the end of the year

Charles Borg, the Bank of Valletta’s chief executive officer, who will leave at the end of the year

The Bank of Valletta is seeking to recruit a new chief executive officer from within or outside the bank, a company announcement published through the Malta Stock Exchange reveals.

The incumbent’s (Charles Borg) contractual term is up on 31 December. There is nothing about this in the company announcement, but the implication can be one of only two things: that Charles Borg does not wish to have his contract extended, or that the bank does not wish to extend his contract.

Mr Borg was appointed CEO in December 2011. He is the only member of the bank’s executive to predate the current government. The other members of the executive – COO Mario Mallia, chief risk officer Miguel Borg, chief business development officer Kenneth Farrugia, and CFO Elvia George – were all appointed to their posts in October and November 2014.