Manfred Galdes has been named as the replacement for John Bonello as HSBC Bank Malta's Chairman, the bank announced on Tuesday (today).

Mr Bonello had announced his decision to retire after 11 years of service during the Annual General Meeting held last week. His retirement and Dr Galdes’s appointment are done with effect from 23rd April 2024 (today).

Dr Galdes was first appointed Non-Executive Director of the bank in January 2021. He is vastly experienced in the area of regulatory and Anti-Money Laundering (AML) compliance and has held leading roles in both the private and public sector. He is Managing Partner at ARQ Malta.

HSBC Bank Malta Executive Director and CEO Geoffrey Fichte said: “I would like to pay tribute to our Chairman, John Bonello, after 11 years of service, five years of which as Chairman.”

“Mr Bonello has chaired our bank with unwavering commitment, dedication and integrity. For this we are grateful, and we wish him and his family well for the future,” he added.

Mr Fichte also proceeded to congratulate Dr Galdes on his appointment, stating that he already knows HSBC Bank Malta very well.

“The high regard with which he is held locally and across HSBC Group makes him ideally placed to lead HSBC Bank Malta’s Board for the coming years,” Mr Fichte continued.

From his part, Mr Bonello said that it was an honour for him to serve on the Board of Directors of a subsidiary of such a large international bank. He remarked that he is grateful for the support he received from fellow colleagues on the Board, executives, and bank employees.

“I have met with only professionalism and dedication in a very respectful working environment. I know that Manfred Galdes will lead the Board of the bank with enthusiasm and integrity. I wish him and this bank every success. I will look back at this chapter with fond memories,” Mr Bonello affirmed.

Dr Galdes said that he is deeply honoured to have been entrusted with the position. He expressed his gratitude to Mr Bonello who served as a “truly inspirational figure” for the bank and its people.

Dr Galdes added that he looks forward to working with the other Directors and the bank’s executive team to “continue to improve the bank’s offering” in a bid to better serve its customers.

HSBC Bank Malta stated that the replacement to fill the vacant position of Dr Galdes as Non-Executive Director will be announced in due course.