This is the first time in its history that the MFSA will have a Chief Executive Officer and a non-executive Chairman following amendments to the MFSA Act announced by Government last year
Joseph Cuschieri has been appointed as the new Chief Executive Officer of the Malta Financial Services Authority, with effect from 24 April 20118, MFSA have said.
In a statement, the Authority said that he would also sit on the Board of Governors of the Authority.
This is the first time in its history that the MFSA will have a Chief Executive Officer and a non-executive Chairman following amendments to the MFSA Act announced by Government last year.
The new structure which is in line with other European financial services regulators was implemented following a consultation with the European Central Bank.
In his new role as Chief Executive Officer of the MFSA, Cuschieri shall be responsible for the overall management and performance of the Authority, strategy development/implementation including reforms in the financial services sector.
A Certified Public Accountant by profession and a fellow member of the Malta Institute of Accountants, Cuschieri is specialised in management accounting, corporate finance, economic regulation and general/business management.
Throughout his professional career spanning 25 years, he held various finance related roles, senior executive positions and directorships within the private and public sector amongst which Head of Corporate Affairs and then Chief Commercial Officer at Vodafone Malta, Chief Operating Officer at the Malta Communications Authority, senior consultant with EY and prior to joining the MFSA he held the position of Chairman and CEO at the Malta Gaming Authority since November 2013.
During his time at Vodafone, Cuschieri was involved in key regulatory projects both in Egypt and Turkey. Furthermore, he spent a period of eighteen months enrolled on the Vodafone Group’s global leadership development programme. He has vast experience in economic regulation particularly in the electronic communications and technology sectors where he was involved in major reforms in the telecommunications sector during his time at the Malta Communications Authority. Cuschieri is also a member of the Blockchain task force where he was involved in the development of a new regulatory framework for virtual currencies and distributed ledger technology. At the helm of the Malta Gaming Authority, Cuschieri focused on reforming the governance of the gaming sector including a major legislative overhaul which led to the tabling of a new Gaming Bill in Parliament.
The new Board of Governors of the MFSA shall now be composed as follows:
- Prof John Mamo – Chairman
- Mr Joseph Cuschieri – CEO
- Mr Mario Borg
- Dr Joseph Brincat
- Mr Frans Camilleri
- Dr John Consiglio
- Dr Lauren Ellul
- Mr Andre Psaila
- Dr Mario Vella
- Mr Herbert Zammit Laferla