Bank of Valletta plc (BOV) on Thursday announced that it is set to make a series of changes to its senior management, with Chief Financial Officer (CFO) Izabela Banas and Chief Technology Officer (CTO) Joseph Agius both set to depart in the coming weeks.

Ms Banas will be resigning from the bank with effect from 29th February 2024, and will be thus relinquishing her position as CFO with effect on the same date.

On the other hand, Mr Agius will be taking up voluntary retirement from the bank on 31st March 2024, and will therefore be leaving his role as well.

BOV announced that over the past few weeks, it has undertaken a recruitment process with the aim of filling the two positions. “Suitable candidates have been identified and will be appointed to the roles upon receipt of regulatory approval,” the bank stated.

It added that a company announcement will be issued once regulatory approval is obtained.

BOV proceeded to thank Ms Banas and Mr Agius for their “invaluable commitment and dedication to the bank’s success” over the years.

Ms Banas is a seasoned finance professional and has held a number of senior positions within the financial services industries in the UK and Switzerland. She was appointed CFO at BOV in March 2021 and also served as Deputy Chair of the Asset and Liability Management Committee and is also a Member of the bank’s Executive Committee and a number of management committees.

She holds a degree in Economics with a specialisation in Finance from University of Illinois at Urbana-Champaign and is a certified Lean Six Sigma Black Belt.

Mr Agius first joined the bank in 1985, garnering almost four decades of experience in IT and financial services. During that time, he has been actively involved in the implementation of various mission critical projects, including the core banking transformation programme. He was appointed CTO in October 2014 and became a Member of the BOV Executive Committee two years later. As CTO, he is responsible for driving the bank’s IT strategy and is a crucial figure when it comes to the modernisation of BOV’s IT infrastructure and applications.

He holds a Bachelor of Science (Hons) in Computer Science from University of Reading, as well as a Master of Business Administration in eBusiness from Grenoble Graduate School of Business. Mr Agius is also a Chartered Engineer and a Member of the British Computer Society.