Well, that’s a bit strange! But then, it’s Malta. MFSA‘s Irish CEO Joseph Gavin will be retiring early and stepping down from his role later this year following a recent absence for medical reasons., MFSA informed in a one-sentence notice. The Irish lawyer was appointed to the financial regulator in July of 2021 on a package reportedly worth €160,000. Gavin previously served as general counsel within the Central Bank of Ireland between 2009 and 2015.
From a distance, it looks like Joseph Gavin never arrived in Malta and at the scandal-ridden regulator. He succeeded the disgraced Joe Cuschieri, who had to resign after it became known that he had been in Las Vegas with General Counsel Edwina Licari – at the invitation and expense of gambling entrepreneur Yorgen Fenech. The latter was allegedly the principal in the murder of blogger Daphne Caruana Galizia.
While Joe Cuschieri had to resign as CEO of the MFSA, Edwina Licari remained in office as General Counsel. A fatal optic.
Now a new CEO must be found for the MFSA. We are curious about who wants to take on this job in Malta. Given the obvious corruption, this is more of a job for soon-to-be-retired older people.