MFSA appoints new person to take charge of Pilatus Bank

The Malta Financial Services Authority has appointed Robert Ancilleri to occupy the role of ‘competent person’ for Pilatus Bank.

“As communicated on 22 March 2018, the Authority appointed a competent person in terms of Article 29(1)(c) and (d) of the Banking Act (Chapter 371 of the Laws of Malta) and Article 15A(1)(b) and (c) of the Investment Services Act (Chapter 370 of the Laws of Malta) for Pilatus Bank plc. On 13 January 2021, Mr Lawrence Connell, i.e. the person occupying the role of competent person for the Bank since the Authority’s decision dated 22 March 2018, resigned from his role as competent person for the Bank with immediate effect.”

Connell had been tasked with taking charge of all the assets of Pilatus Bank Limited, which included any assets related to the investment services business of the Bank. He was also tasked with assuming control of the Bank’s banking and investment services business and to continue carrying on that business until such time as the MFSA may direct.

“In view of Mr Connell’s resignation, Robert Ancilleri has been selected by the Authority to occupy the role of competent person for the Bank in Mr Connell’s stead with effect from 13 January 2021.”

“For the avoidance of doubt, the Authority’s decision dated 22 March 2018 to appoint a competent person as mentioned above is and shall remain in full force and effect until the Authority otherwise directs.”

Any communication in relation to the Bank should be addressed to the Bank on the following number: 20145318, the MFSA said.

Robert Ancilleri is an auditor by profession and runs his own practice providing accounting, business, and regulatory advisory services. He holds a Bachelor of Accountancy (Honours) degree from the University of Malta and is a Certified Public Accountant with a practising Certificate in Auditing. Robert Ancilleri served as the Chief Accounting Officer at HSBC Bank Malta plc up to July 2018, representing the bank at the Executive Committee of the Malta Bankers’ Association.