Malta Development Bank appoints new CEO

The Board of Directors of the Malta Development Bank announces the appointment of Paul V. Azzopardi as the Bank’s Chief Executive Officer. Azzopardi is taking over from Rene Saliba following the latter’s retirement.

Azzopardi has been involved with the Bank since its inception and was part of the 2016 Working Group mandated to prepare the recommendations for the setting up the MDB and the related legislative and operational framework. Early in 2020, he joined the MDB as its first Deputy Chief Executive Officer.

Azzopardi trained and worked as a Certified Public Accountant and later obtained an MBA at first class standing from the University of British Columbia in Vancouver, Canada, specialising in finance and investments.  He is a Fellow of the Malta Institute of Accountants.

During his career, Paul worked at the Malta Development Corporation, and later as a financial adviser, stockbroker, and as a portfolio manager of private client accounts and investment funds both in Malta and in Canada.   For a number of years, he lectured at the University of Malta and the University of Toronto, School of Continuing Studies. Subsequently, between 2016 and 2020, Paul served as director on the Board of Director of Bank of Valletta plc, BOV Asset Management Ltd., and BOV Funds Services Ltd., in which roles he chaired various board committees. 

Moreover, Paul has authored and published a number of academic books in the fields of finance and investments as well as a novel.

The Board of Directors is confident that Azzopardi’s wealth of experience will help in building on the strong legacy of his predecessor so that the MDB will continue to play an ever-growing supportive role within the Maltese economy.

The Board extends its appreciation to retiring CEO Rene Saliba for his sterling work and leadership since the inception of the Bank and for his drive throughout the past years, transforming the institution into a respected stakeholder in Malta and abroad.