APS Bank plc CEO Marcel Cassar has been elected Chairman of the Malta Bankers’ Association (MBA) following the Association’s annual general meeting on Wednesday.

Through this, he will replace Bank of Valletta plc's outgoing CEO, Rick Hunkin.

He will be joined by MeDirect Bank Malta plc Director of Commercial Strategy and Head of Legal Henry Schmeltzer, who has been elected Deputy Chair of the MBA.

Marcel Cassar (left) and Henry Schmeltzer (right)

Mr Hunkin commented that the association agreed that Mr Cassar’s extensive industry experience along with his long-standing presence on the MBA Board made him an “ideal candidate to continue to steer the Association through these challenging and rapidly changing times.”

Mr Cassar thanked Mr Hunkin for his support and stewardship of the MBA over last two years, as well as Lombard Bank Malta plc CEO Joseph Said, who is the outgoing Deputy Chair.

He was also grateful for the association's members' support and confidence in him.

As MBA Chair, Mr Cassar will also represent the Association on the European Banking Federation’s (EBF) Board, of which the MBA is a full member.

The EBF unites 32 national banking associations in Europe that represent around 3,500 banks employing 2.6 million people with over €23 trillion in lending to the European economy.

Additionally, the EBF is actively engaged in advocacy and the support of policies that foster economic growth and jobs.

Mr Cassar is a veteran in the banking and financial services sectors, with a career that has stretched to around 36 years. 

He was named APS Bank CEO in 2016, after serving as FIMBank plc’s First Executive Vice President and Chief Financial Officer for more than 11 years.

First established in 1962, the MBA represents the interests of banks that are licensed to operate in Malta, with its mission being to promote an “enabling environment” for the banking sector.