Victor Gusman has informed APS Bank plc of his intention to retire from his role as Non-Executive Director at the end of the year, the bank announced on Friday.
Joseph Rapa has been appointed in his stead, joining the bank on 1st January 2023, as regulatory approval has already been obtained. He will also be sitting on APS Bank’s risk committee and conduct committee.
The bank’s board of directors thanked Mr Gusman for his “commitment and contribution” throughout his 10 years as Non-Executive Director, and also wished him well for the future.
Throughout his career, Mr Gusman has gained a significant amount of experience, particularly 35 years at the helm of Lemco Group, where he was responsible for leading the administration team of a workforce of over 650 staff. He was also tasked with servicing international companies with custom-made products to accommodate their own brands and dealing with governments for their specialised requirements within their hardware and manufacturing sectors.
APS Bank Chairman Martin Scicluna welcomed Mr Rapa to the bank’s board, adding that his appointment will “broaden and deepen expertise in risk management, internal controls and finance strategy”, and is “looking forward” to working with him.
Mr Rapa started his career in 1990 at the Economic Policy Department within the Ministry for Finance. In 2012, he was appointed Director General, where he was tasked with leading teams providing technical economic and financial analysis, including providing advice to the Ministry on macroeconomic management, fiscal policy, and macroprudential matters.
From March 2013 until May 2022, he served as Permanent Secretary at the Ministry for Health, and was particularly responsible for general management functions, such as human resources management, strategic management, financial budgeting, planning and management, as well as the exercise of internal control.
Mr Rapa is currently tasked with carrying out duties of oversight over the management of EU funds in Malta within the Ministry for the Economy, European Funds and Lands.
APS Bank is one of the oldest banks in the Maltese Islands providing personal, business, and investment solutions, with the aim to make the banking experience “simpler and more personal” through its “commitment to social, economic and environmental progress”.
