Daniel Cassar has been appointed to the position of Business Solutions Specialist at Izola Bank.

Mr Cassar previously worked as a solutions delivery specialist and as a business analyst at software development, it services and financial services companies.

Izola Bank is an online bank that has been operating from Malta and provides corporate and personal clients with niche product lines.

Recently, the shareholders of Izola Bank entered into a share purchase agreement with Azure Financial Limited, where subject to regulatory approval the latter would acquire 100 per cent of the bank’s issued share capital.

The bank, in an announcement on the Malta Stock Exchange, had said that the transaction will also provide for a €2.8 million capital injection into the bank by Azure through the subscription of newly issued shares expected to take place shortly following the signing and subject to regulatory and board approval. The transaction also contemplates the group’s current owners retaining an involvement in the bank, as the Van Marcke Group, which is the bank’s existing shareholder, would acquire a minority shareholding in Azure Financial Limited.