Joining any established company in a senior role requires a delicate balance of blending in and bringing fresh ideas. Claudio Bondin, the recently appointed Chief Financial Officer of Bay Street Group, appears to have mastered his latest transition with ease. Having joined the local household brand at the end of January, he has seamlessly integrated into the company's well-oiled machinery, a feat he credits to the exceptional team at Bay Street, describing it as “one of the best environments I've ever worked in.”

These are certainly no small words from someone who's enjoyed an excellent career path, which included serving as CFO with GG Hospitality and Troo Hospitality in the UK, where he worked alongside popular figures like former Manchester United footballers Gary Neville and Ryan Giggs, as well as collaborating with renowned celebrity chef Tom Kerridge. During his five-year stint in the UK, he gained invaluable experience, particularly enjoying the diverse cultures and perspectives he encountered. However, despite his success abroad, Claudio ultimately chose to return to his roots in Malta, recognising that, in the end, home always holds a special place in one's heart.

“In one of my initial conversations with Bay Street CEO Albert Galea, he shared his vision for doing something different within the organisation. I am now witness to the unique culture of the Bay Street Group, a culture that puts the wellbeing of its employees and clients first,” Claudio reveals. “Having experienced working in a different culture with diverse perspectives, I recognised my ability to introduce a fresh viewpoint within the team. It's not rocket science. Sometimes a new perspective on an issue or challenge can unlock the right solutions.”

Claudio explains that his role encompasses a wide range of financial responsibilities across the group's diverse portfolio in retail, hospitality, and food and beverage. His key duties stem from setting the group's financial strategy in collaboration with the CEO and maintaining bank relations, to ensuring accurate reporting, audits, budgeting, and employing the best digital tools to optimise efficiency. He describes the role as “a very diverse one, which I absolutely love. It keeps me excited about coming to work at the beginning of each week.” 

Given the group’s hotel operations, including the 4-star be.HOTEL at the heart of the Bay Street Shopping Complex in St Julian's as well as the 5-star Hyatt Regency,  Claudio also emphasises that collaboration between the financial and operational sides of the organisation is paramount.

“Our financial team collaborates closely with the operations arm of the business. This collaboration is pivotal for the agility and precision of our overall strategy as a Group,” he explains. “The culture at the Bay Street Group is one of unison, one where everyone works towards the same goal, and whilst feeling proud of forming part of this group, I also feel extremely lucky and thankful to form part of this team.”

Claudio also explains that he makes sure that the finance department is attuned to the dynamism of today's market, providing timely and accurate information. This ensures that management can take the best decisions to meet optimal room occupancy at the best rates. With the help of the leaders with the various companies of the group, monthly planning and forecasting are coupled with weekly, even daily, monitoring of occupancies and rates without never losing sight of the main goal in hospitality, that is, of ensuring that guests have the best experience in their hotels. Utilising Business Intelligence tools, the financial department gains precise insights into bookings, costs, and competitive positioning, ensuring a data-driven approach behind the decision-making process.

Beyond the realm of numbers and digits, Claudio has particularly enjoyed delving into another aspect of his CFO role, that of fostering talent and leadership among his team. “One of the main aspects of retaining and motivating staff is through continuous training and education. This is crucial to ensure that everyone in the financial department fully understands their roles and are equipped to take on more significant responsibilities,” he explains, before adding: “My approach is deeply embedded in Bay Street’s culture, starting from the top, with our owners and our CEO, adamant about creating a family-like work environment where all employees have opportunities to advance their careers.”

Within the finance department itself, Claudio has been encouraged by the willingness of everyone on the team to pitch in and learn together. Younger employees who wish to take their financial training to the next level can take advantage of the guidance of three highly experienced senior accountants who are happy to serve as mentors. Claudio also highlights how the group is keen to spot talented and dedicated individuals and provide them with the opportunities for growth and development across the organisation. 

Now that he’s fully settled in, Claudio is looking towards leveraging technology and data analytics to improve financial decision-making. “I am fixated with efficiency and am always looking for ways to use IT and FinTech better so that we can improve our processes across all our business segments.”

“I think 2024 will be a year for us to evaluate how we can further enhance our operations whilst always keeping our clients and employees at the forefront of our decision making. I am genuinely excited about the prospect of not just performing better but adapting and excelling in the face of evolving challenges,” he concludes.