Alfred Calamatta, the founder of leading local financial services firm Calamatta Cuschieri and a pioneer of the sector in Malta, passed away on Thursday.

The firm he founded announced the news by saying that Mr Calamatta, who had been retired, was an inspiration to staff and to others he worked with, “while his wisdom and guidance made people look up to him and gained the respect of many along the years”.

“It is with deep sorrow that we announce the passing of Mr Alfred Calamatta, a visionary who pioneered the local financial services industry in 1971,” it said in a statement.

“The story of this successful firm started to unfold many years ago, long before the advent of stockbroking and fund management in Malta was even a dream, by a young and aspiring Mr Calamatta.”

It said Mr Calamatta was regarded as a visionary who put his trust in people.

“He was considered to be a true gentleman by all those who knew him and leaves behind him a lifetime of achievements.”

Mr Calamatta began his career with Barclays Bank DCO in 1955 and later joined Edwards Chandler Wagstaffe & Co. in 1967 as a ‘Blue Button’ on the floor of the London Stock Exchange.

In 1971, he established A. Calamatta & Partners to provide investment and stockbroking services in the Maltese islands, even prior to the regularisation of the Maltese financial market.

In 1971 he also launched a board in Valletta showing the daily prices of stocks and shares on the London Stock Exchange as well as prices of Maltese equities.

The latter provided a useful guide to Maltese investors in the absence of a stock exchange, which happened some twenty years later.

In 1992, Alex Cuschieri joined in partnership to form Calamatta Cuschieri & Co. Ltd., while at the same time, the company also assisted in establishing the Malta Stock Exchange, of which it is a founding member.

“Mr Calamatta built the very foundations and core principles which Calamatta Cuschieri continues to carry to the present day”, the firm said.

“He was an inspiration to staff and to others with whom he worked, while his wisdom and guidance made people look up to him and gained the respect of many along the years.”

“He taught others about the importance of ethics as well as integrity and dedication.”

It said he leaves behind an incredibly strong legacy, noting that even after his retirement he was proud to see Calamatta Cuschieri continue to grow.

“Calamatta Cuschieri and the financial services industry have lost a visionary, a splendid person of great intellect and big heart and his spirit will forever be ingrained in the CC Finance Group.”

“No words can adequately express our sadness at Alfred’s passing or our gratitude for the opportunity to work with him and to have enjoyed his great company which left us intrigued.”

“Mr Calamatta’s memory will be honoured by the continuation of the flourishing of the company he loved so much,” it concluded.

Calamatta Cuschieri is inviting those who knew him to share their thoughts, memories, and condolences by sending an email to [email protected].

The funeral service will be held on Friday 9th July, 8:30am at the San Gwann Parish Church.