Tag: E-Cubed iSlands

Malta’s Bank of Valletta (BOV) has announced the resignation of Chief Risk Officer and Executive Director Miguel Borg. The announcement states that the resignation is effective from 5th April 2023. “The Bank is putting into place its succession plan for the positions of Chief Risk Officer and Executive Director,” it said. “There are no matters concerning Borg that warrant any disclosure in terms of the Capital Markets Rules.”

The EU member Malta is different in many ways regarding business ethics and regulation. However, even by the low Maltese standards, it is unheard of that a Chairman of a leading national bank carry out private consultancy work. It is even more questionable when this takes place with the regulator's blessing. The Chairman of Bank of Valletta (BOV), Gordon Cordina, received €1.4 million through his companies, E-Cubed Consultants Ltd and E-Cubed iSlands Ltd, for so-called consultancy work since 2013. Maltese media The Shift revealed this.