Malta Business Review Issue 12 by Adrian Friggieri

Malta Business Review

CELEBRATING MALTA’S BEST ENTREPRENEURS

Malta Business Review

Experience, Excellence & Value by George Carol

Ray Busuttil from IIG Bank presenting Roderick Psaila from AgriBank PLC with his award

The reason for the prestigious nature of Malta’s Best Entrepreneur of the Year Awards is the independence, rigor, impartiality and transparency of the evaluation process. The award programmes are run by a team of research judges who conduct extensive desk and field research, including interviews with nominees. This year the judges were unanimous in their choice for Malta’s Banking Entrepreneur of the Year Award, which they awarded to Roderick Psaila, CEO, AgriBank. Peter Bonavia from Carmelo Caruana Ltd presenting Christine Pace from Dorkins Ltd with her award

Commitment, Team Building & Dedication by George Carol

Christine Pace – Dorkins Ltd has been the judges choice for this year’s award as Malta’s Best Retail Entrepreneur & Firm of the Year. In this interview we learn one of Christine’s driving and winning virtue is a calm and down-to-earth approach.

MBR: How does it feel to be recognised as the winner of Malta’s Best Retail Entrepreneur & Firm of the Year? CP: I’m very proud of this achievement. When one’s hard work, commitment and sacrifice have been truly recognised by such an award, it is a great personal satisfaction. MBR: What are the key initiatives in your opinion that have made the difference to win such prestigious awards? CP: A few years back , I won an award in Amsterdam at a Clarks International Conference, this was ‘Best Partner of the Year’. Certainly, the same objectives describe this award: Commitment, team building and dedication to my business. MBR: The organisers clearly sate that, “The awards program recognises entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, healthcare innovation, personal commitment to their businesses and communities.” Do you agree with this and what is your experience after having participated and ended up carrying away one of the most important awards? CP: I totally agree, and with this gratifying award winning experience it gives me more courage and ambition to pursue higher levels of achievement in my career. My experience as a businesswomen who participated and was awarded by the judges for having demonstrated a visionary business leadership role fills me with more courage,

determination and impetus to accomplish more in the future. MBR: How inspiring is it to see what you have accomplished together with the DORKINS team? CP: It is one of the most rewarding experiences to achieve such a positive result from a team that I have invested so much in, both from a personal and professional level. It is one of the greatest inspirations to future achievements.

Having demonstrated a visionary business leadership role fills me with more courage, determination and impetus to accomplish more in the future MBR: What has been your biggest challenge as a top Female Entrepreneur so far and what steps did you take to overcome these challenges? CP: We operate in a very demanding and fast moving environment and there are so many challenges that you can’t really opt for one as THE challenge. When you deal on a daily basis with various business partners, a certain number of staff members, several outlets and financial institutions the challenges are all big and your steps need to be fast and steady. From experience I have found that a calm and down-to-earth approach will solve most of your issues. MBR All Rights Reserved | Copyright 2015

MBR: How does it feel to win Malta’s Best Banking Entrepreneur of the Year Award? RP: It feels great. It was an honour in the first place, to be nominated for the Award and it’s even better to win it, particularly with the exposure the event has been given this year. Moreover, the fact that the Award refers to the Banking industry means a lot to me. I am a banker both academically and by profession, so being presented with an award related to my area of expertise is the ultimate compliment. MBR: How significant is this to you and to the whole AgriBank team? RP: It is significant both for me and the team at AgriBank. We are a very small team at the Bank and I feel that we have achieved a great deal from its inception. These achievements have to be considered in a scenario where together with the CFO of the Bank, Paul Grech, I started working on the bank license application from scratch, way back in 2011. After obtaining the license in 2012, we were also responsible for setting up the Bank, which was reasonably demanding given that the Bank is completely new and not a subsidiary or branch of a foreign parent bank. Shaping the Bank in a manner to start operating in a relatively short term and making important strides forward in the two years of existence is something we take pride in. MBR: What do you attribute this award to… is it due to the technical ability to be able to provide banking services in a specific area or is it due to your

intellectual capital and capacity to position yourself as a thought leader to your prospective clients?

MBR: What is your feedback on the event, its organization and how will you remember the night of the 10th July?

RP: It is probably a bit of both. I have been a banker for 25 years, practically my whole working life. In all those years, one gains considerable experience, is exposed to new situations on a continuous basis and improves technically, both through academic studies and also from knowledge gained on the job. I have been lucky enough to manage different teams at the Central Bank and also led a few banks within the industry and such experiences may have provided me with the nous to do well.

RP: The event was very well organised from every perspective. Exquisite setting, video and photo coverage were excellent, good food and service, and we were also treated to a pleasant entertainment programme. It was obvious that the organising team went to great lengths to ensure a high level event. MBR

I would like to think that the prominence assigned to such awards continues to increase one year after the other MBR: How important do you consider such awards are and what are its contributions towards the enhancement of entrepreneurship in Malta? RP: I would like to think that the prominence assigned to such awards continues to increase one year after the other. As with all other awards in the different industries and sports, getting recognised for the contribution one is bringing to his/her business niche is flattering and should encourage entrepreneurs to think out of the box and come up with even better innovative ideas.

EDITOR’S NOTE Roderick Psaila is a qualified banker, having graduated as an Associate of the UK Chartered Institute of Bankers (ACIB) and subsequently read a Masters in Economics at the University of Malta. He joined the Central Bank of Malta back in 1990 and had an eighteen-year career at this highest financial body in Malta, where he held various positions related to Banking, Monetary Policy Statistics and Financial Stability. In 2004, Roderick was engaged by the European Central Bank in Frankfurt to work as an expert on a specific assignment. In his last three years at the Central Bank, Roderick managed the Financial Stability Office. In 2008, Roderick joined Nemea Bank and as COO, he led the management team and was responsible for the setting up of the Bank. In 2010, Mr Psaila was engaged as General Manager by a prospective bank to obtain the banking license and develop the bank from scratch, before he moved on to set up his own consultancy firm, specialised in licensing and setting up of banks and financial institutions. Roderick started working on the AgriBank project in 2011, when the Firm was engaged to obtain the bank license and set it up. The license was granted in October 2012, at which point Roderick was appointed CEO of the Bank, a position he still holds.