Elizabeth Carbonaro has been appointed as a Non-Executive Director at ReAPS Management Limited, replacing Edward Cachia, who retired from the position at the company’s recent Annual General Meeting.

She joins the company, which is a wholly owned subsidiary of APS Bank plc active in fund and investment management services, after a stint at Willis Tower Watson (WTW), where she most recently served as Regional Managing Director for WTW Global Captive Practice for Western Europe.

Ms Carbonaro is a chartered certified accountant by profession and has worked for market leaders including PwC and Mapfre Middlesea.

The bank describes her as “an experienced professional especially in the financial and regulatory aspects of captives as well as in providing them with consulting services from incorporation through to their ongoing management.”

She also sits on various Captive and Insurance Company Boards, and is the Chairperson of the Malta Insurance Management Association.

“We welcome Elizabeth to the ReAPS Board knowing full well that her extensive experience and solid professional credentials will be of benefit to the APS Bank Group’s ambitions in this area of investment services,” commented APS Bank CEO Marcel Cassar.

Bidding a fairwell to her predecessor, the CEO thanked Mr Cachia “for his distinguished and dedicated contribution”, adding, “we wish him the very best on his retirement”.