The Malta Monetary Companies Authority (MFSA) has introduced the appointment of Kenneth Farrugia as the brand new regulatory Chief Government Officer, efficient 12 April. He’ll change Dr. Michelle Buontempo, who’s holding the place in an performing capability.
The official announcement detailed that the newest CEO appointment was an pressing measure to usher in the ‘proper individual.’ The authority additionally highlighted that the management adjustments over the previous few years weren’t ‘helpful.’
“The Board acknowledged… that the earlier open and worldwide name for functions for the place of Chief Government Officer had not benefited the Authority to the specified extent, and agreed {that a} public name for functions for the submit of Chief Government Officer wouldn’t be in the most effective pursuits of the Authority at this cut-off date,” the MFSA said.
MFSA beforehand onboarded Joseph Gavin because the CEO in September 202. Nevertheless, he turned ‘indisposed’ inside months, placing Dr. Buontempo quickly in cost in mid-June 2022. Although Gavin returned on the finish of July 2022, he stepped down in September, as Dr. Buontempo quickly took over the apex place once more.
Gavin’s brief tenure with MFSA got here after the resignation of Joe Cuschieri, who was caught touring to Las Vegas with a homicide suspect.
Farrugia to Repair the Popularity
The MFSA board now believes Farrugia to be an ideal match for the CEO position, as he brings years of in depth management expertise. He was beforehand the Director Normal on the Inner Audit and Investigations Division (IAID) and the Director of the Monetary Intelligence Evaluation Unit (FIAU).
“Mr. Farrugia is technically very nicely ready and has distinctive organizational growth abilities,” the MFSA added.
“He’s additionally personally very nicely regarded at a global stage by quite a few supranational authorities, together with the European Fee, European Banking Authority, Egmont Group of Monetary Intelligence Items, and MONEYVAL, and has been acclaimed by the US authorities for his achievements and integrity. He’s additionally extremely regarded by the broader neighborhood of trade stakeholders in Malta, which is taken into account important for the MFSA.”
The Malta Monetary Companies Authority (MFSA) has introduced the appointment of Kenneth Farrugia as the brand new regulatory Chief Government Officer, efficient 12 April. He’ll change Dr. Michelle Buontempo, who’s holding the place in an performing capability.
The official announcement detailed that the newest CEO appointment was an pressing measure to usher in the ‘proper individual.’ The authority additionally highlighted that the management adjustments over the previous few years weren’t ‘helpful.’
“The Board acknowledged… that the earlier open and worldwide name for functions for the place of Chief Government Officer had not benefited the Authority to the specified extent, and agreed {that a} public name for functions for the submit of Chief Government Officer wouldn’t be in the most effective pursuits of the Authority at this cut-off date,” the MFSA said.
MFSA beforehand onboarded Joseph Gavin because the CEO in September 202. Nevertheless, he turned ‘indisposed’ inside months, placing Dr. Buontempo quickly in cost in mid-June 2022. Although Gavin returned on the finish of July 2022, he stepped down in September, as Dr. Buontempo quickly took over the apex place once more.
Gavin’s brief tenure with MFSA got here after the resignation of Joe Cuschieri, who was caught touring to Las Vegas with a homicide suspect.
Farrugia to Repair the Popularity
The MFSA board now believes Farrugia to be an ideal match for the CEO position, as he brings years of in depth management expertise. He was beforehand the Director Normal on the Inner Audit and Investigations Division (IAID) and the Director of the Monetary Intelligence Evaluation Unit (FIAU).
“Mr. Farrugia is technically very nicely ready and has distinctive organizational growth abilities,” the MFSA added.
“He’s additionally personally very nicely regarded at a global stage by quite a few supranational authorities, together with the European Fee, European Banking Authority, Egmont Group of Monetary Intelligence Items, and MONEYVAL, and has been acclaimed by the US authorities for his achievements and integrity. He’s additionally extremely regarded by the broader neighborhood of trade stakeholders in Malta, which is taken into account important for the MFSA.”
