Karl Azzopardi has been named the new CEO of Malta Government Investments. 

Mr Azzopardi previously led INDIS, the state industrial parks agency, and was the first CEO of the Building and Construction Authority before stepping down a year later.

He was appointed MGI's CEO in January by the board, a spokesperson for the economy ministry, said, and succeeds Jesmond Gatt as CEO. 

Malta Government Investments manages various financial investments of the government. It is a holding company that includes Malta Air Traffic Services, Enemed, WasteServ and Gozo Channel among its assets. The entity employs 50 people and holds assets totalling €27 million according to the latest published accounts in 2021. 

Mr Azzopardi has worked in private and public sectors in managerial roles, and holds a Masters in Business Administration from Wales University.  

The appointment comes as MGI is set to adopt a bigger role in policy-making, and absorb the work of Mimcol, a government agency that manages government investments. 

It is unclear what position Jesmond Gatt will take within these restructuring procedures.