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MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

F O R E W O R D

Agility Will Win J O C A R UA N A – E D I TO R , M a l t a C E O s 2 0 2 1

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

2020 was not the year we expected.

year, both of those maintained their important place on the leaderboard but were joined by ‘agility’. Agility, of course, means everything at the moment. If a company is agile enough, it can quickly adapt to changes in its market and focus on the possibilities rather than what has been lost. Agility, most business leaders attest, is what will set the winners apart from the losers when all of this is over.

As I reflect on my introduction to last year’s edition of this publication, it was clear that many of us anticipated 2020 would be a landmark of sorts. Some of the CEOs I spoke to then predicted that change was on the horizon and that something different might be brewing for the 12 months ahead. Was it a slowdown? A recession? A tangible shift in international order? Well, nothing could have prepared us for a global pandemic.

Digitalisation, too, was a term on everyone’s lips. As lockdown hit, it was clear that companies with any kind of online presence were able to shift their attention there and serve their customers in new ways. Those that didn’t had to move quickly and, as some of our CEOs declare, plans that may have taken years to approve pre-pandemic, were suddenly effectively rushed through in weeks!

We interviewed the CEOs you’ll come across in the pages of this edition long after COVID-19’s initial shock was felt. Most met with significant challenges – from dealing with dwindling sales and interrupted distribution channels, to keeping their teams and clients safe. There were long-term wounds too, and some admit it could be some time before things return to the normal we took for granted in 2019.

Yes, this was also the year that helped us come to terms with the fact that ‘old ways’ didn’t necessarily mean ‘only ways’, and most of us now do something differently than we did before. The ‘new normal’ is very much alive and well in the business world and some of us have even enjoyed embracing it.

Overwhelmingly, however, our CEOs’ stories are extraordinarily positive. They talk of the incredible camaraderie that was crafted in those early days of the pandemic. They recall how challenges were turned into opportunities to banish the status quo, and how inspiration hit them about how to pivot successfully. They talk of the surprise motivators that kept them going every day, no matter what was thrown their way. They laugh about how Zoom has replaced urgent one-day business trips and given them valuable time with friends and family. They acknowledge they now appreciate the little things; things that previously would have passed them by.

It’s been overwhelming but also exciting, and now 2021 is our new start. We know going into it that it won’t all be smooth sailing but hopes are high that the worst is behind us, and that a new dawn is before us. If our CEOs are anything to go by, opportunity is ripe for the picking. I trust that you will relish your time with our CEOs as much as I have.

Those who follow this publication will know I like to attribute a buzzword to the 365 days encompassed within it. 2019’s was ‘people’, while 2020’s was ‘sustainability’. This

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Happy reading.

EDITORIAL TEAM

Noella Abramovic, Angie Amato, Rebecca Anastasi, Laura Bonnici, Rebecca Cachia, Paula Fleri-Soler, Sarah Micallef, Martina Said

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HEAD OF DIGITAL & MARKETING

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CORPORATE SALES & BUSINESS DEVELOPMENT MANAGER

PHOTOGRAPHY

Bernard Schranz

Bernard Polidano

ADDITIONAL PHOTOGRAPHY

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MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Malta’s BUSINESS LEADERS

have their

say on

COVID-19

2 0 2 0 : A Y E A R D O M I N AT E D B Y T H E C O R O N A V I R U S P A N D E M I C . N O W , H E A D I N G I N T O 2 0 2 1 , A L L E Y E S A R E O N M A L TA ’ S K E Y I N D U S T R I E S . HOW WILL THEY FARE AFTER SUCH A PRECARIOUS YEAR? HERE, W E A S K S I X O F M A L TA ’ S M O S T E S TA B L I S H E D E N T R E P R E N E U R S F O R

T H E I R TA K E O N H O W B U S I N E S S H A S S H I F T E D A N D W H AT N E E D S T O B E DO N E TO S U R V I V E I N TO A P O S T - CO V I D - 1 9 W O R L D. T H E I R A D V I C E ? E M B R A C E T E C H , D I V E R S I F Y A N D I F I T ’ S B R O K E , F I X I T.

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

HELGA ELLUL Advise Ltd

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

HELGA ELLUL IS A LEADING BUSINESS THINKER AND DOER. A F T E R A C A R E E R A S P L A Y M O B I L M A L TA ’ S C E O , H E L G A E S TA B L I S H E D H E R C O N S U L TA N C Y F I R M A D V I S E L T D I N 2 0 1 2 . L I F E L O N G L E A R N I N G A N D C S R L I E AT T H E H E A R T O F HELGA’S ENTREPRENEURIAL ETHOS, WHICH IS WHY SHE IS A L S O P R E S I D E N T O F C O R E , A P L AT F O R M T H AT F A C I L I TAT E S D I S C U S S I O N A B O U T C O R P O R AT E C I T I Z E N S H I P A N D C S R .

“Most sectors have been hit,” continues Helga. “Governments are supporting businesses, but how long will that last and is it enough? We’re at a critical moment. Companies need to re-evaluate their business models and ask themselves, what must we change to survive? Take a look at your products, customers, employees and processes. Beyond that, who is ready and has the financial strength to implement the necessary changes?”

“We are living in a time we were previously not prepared to envisage,” begins Helga, bringing stark reality to the discussion. “What we first thought would be a controllable health issue spiralled into successive waves. Worldwide, cases and deaths are increasing, and even with a vaccine, the coming years will be difficult for all economies.” While some companies, particularly those in tech and e-commerce, have found 2020 to be a time of prosperity, Helga explains that most companies know that things will not return to pre-COVID-19 normality any time soon.

As a word of advice to companies in the current climate, Helga reiterates that money should not be thrown at attempts to keep old business models alive. “Hopefully, the restructuring has already begun,” she remarks. “Work closely with all management teams to create a new way forward and create alliances in your industry. Work with your peers to strengthen the sector and help all players survive.

Companies need to re-evaluate their business models and ask themselves, what must we change to survive?

“Now is a time for strong leadership. Accept our new hybrid working conditions and commit to re-skilling yourself and your workforce because the world’s new way of doing business will require new skills. Technology has helped and companies quickly adapted – but make no mistake, this new way will stick around, so accepting it is vital.”

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

ALEC MIZZI Alf Mizzi & Sons Marketing Group (AMSM)

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

A L E C M I Z Z I H A S I N J E C T E D I N N O V AT I O N A N D E N T H U S I A S M I N TO T H E F OO D D I S T R I B U T I O N B U S I N E S S . A S A FA M I L Y O W N E D CO M PA N Y , A M S M T R E A S U R E S S T R O N G VA L U E S A N D ETHICAL PRINCIPLES, AND BACK IN APRIL GRASPED THE O P P O R T U N I T Y TO S U P P O R T S O L I DA R I T Y M E A L S , A L I F E L I N E F O R P E O P L E S T R U G G L I N G B E C AU S E O F T H E PA N D E M I C .

One thing that has surprised Alec in 2020 has been the resilience of Malta’s economy. “While tourism and hospitality have taken a knock, other markets have held their ground,” explains Alec, “and with a vaccine on the horizon, so is positivity. Yes, some businesses are scrambling and there’s concern about how governments will act, but there is more reason to be optimistic now than there was back in spring. “My late father always spoke of cycles and that nothing favourable would remain indefinitely so. At AMSM, we’ve always sought diversification, which is proving to be crucial to survival, and now more than ever before. The old adage of not putting all your eggs in one basket has never rung truer.”

Photo by Rene Rossignaud

Despite his refreshing zeal, Alec refers to the indiscriminate hardship the pandemic has brought as the toughest time in his 40-year career. “Most businesses don’t fail because their concept is flawed; they fail because they run out of cash,” he explains. “Yet, when companies go out of business, they leave opportunities for the survivors, the cash-rich and the bold. Eventually, hindsight always reveals what should have been done, but when in the eye

of the storm, it takes courage, deep pockets and resolve to grab opportunities.” In his concluding thoughts, Alec explains that if a company’s fundamentals are sound, people should stick with them and perhaps seek new investors, but no good will come from funnelling money into deficient business models. “It’s a time to face some hard truths, but just like a gruelling marathon, there is an end in sight,” he says. “I expect most businesses, though weary and exhausted, to catch a second wind and hobble to the finish line. Let’s hope we all make it.”

The old adage of not putting all your eggs in one basket has never rung truer.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ANDY GATESY Toly AT T H E H E A D O F G L O B A L B E A U T Y P A C K A G I N G M A N U F A C T U R E R , T O L Y , A N D Y G AT E S Y L E A D S BASED ON AN AGILE, DIVERSE BUSINESS MODEL. 2020 HAS BEEN DIFFICULT FOR MANUFACTURING, BUT FOR ANDY, THE FUTURE R E M A I N S A N O P P O R T U N I T Y TO R E CO V E R , REINVENT AND REIGNITE.

reach out to customers, but there’s no denying that with fewer social occasions and the wearing of masks, the beauty sector has been affected. What’s more, beauty has a strong presence in the travel retail sector, which of course has reduced drastically. That said, we must rise up and calmly focus on what we can control, rather than what we can’t, by maintaining our passion, purpose and persistence.”

“My father always said that if you cannot get through the door, climb through the window, and if the window is closed, climb down the chimney,” confides Andy. “Nobody saw the pandemic coming or the scale of the medical and economic crisis that would follow. We’re living amid unprecedented unpredictability, so it’s high time we all started thinking outside the box.” For the manufacturing industry, the lockdown measures of the second quarter of the year had a major impact. “The lifting of restrictions in quarter three allowed companies to recover somewhat, but semi-lockdown towards the end of 2020 will once again affect consumer confidence right into spring 2021, by which time we’ll hopefully have a vaccine,” continues Andy.

Looking ahead, Andy asserts that businesses need to play to win rather than to simply stay in the game. “Companies must continue to adapt and reinvent themselves,” he says. “At Toly, we’ve maintained strong morale, which has been vital. Now, we must not lose our ambition. We need to remain positive, focus on costs and efficiencies, and be ready to take advantage of new opportunities once the pandemic is over.”

“Panic is contagious, but so is good leadership. All brands have stepped up their online presence to

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

If you cannot get through the door, climb through the window, and if the window is closed, climb down the chimney.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

LOUIS A FARRUGIA Farsons Group A V E T E R A N I N M A L TA ’ S B U S I N E S S COMMUNITY, LOUIS A FARRUGIA H A S B E E N O N E O F M A L TA ’ S M O S T VISIONARY ENTREPRENEURIAL MINDS FOR THE LAST 45 YEARS. AMONG HIS MANY ROLES, HE IS CHAIRMAN OF FARSONS GROUP AND HAS EVOLVED A S A S O C I A L L E A D E R I N M A L TA ’ S EVER-CHANGING SOCIO-POLITICAL AND ECONOMIC LANDSCAPE.

Out of adversity spring innovation and opportunities for growth if one maintains a positive mindset, according to Louis. “We can be cautiously optimistic that COVID-19 vaccines will be distributed in the first quarter of 2021, and then business confidence will grow,” asserts the Chairman. “The pandemic’s effect on the world economy will be long-lasting and profound. It has boosted the digital world, including online sales and delivery services, radically changed the office environment and threatened service industries with closure. Above all, the travel sector is facing the unprecedented possibility of being decimated.” But for Louis, there are always learnings to be gleaned. “Businesses must consider a post-pandemic survival plan that takes into account another crisis of this kind in the short

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Businesses must consider a post-pandemic survival plan that takes into account another crisis of this kind.

to medium-term,” he says. “Companies that have prospered in 2020 are those with robust digital infrastructures, such as Amazon, so there are lessons and growth opportunities to be had here. It would also be opportune to analyse one’s business model, to see how it has been affected and how it can evolve. “My advice is to remain calm and not shy away from professional help to ride out the storm. We can’t just think about our present predicament but must look to the future by reviewing one’s strengths and looking at new opportunities while also tackling one’s weaknesses. In a nutshell we will have to reinvent parts of our businesses.”

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

The pandemic has once again shown the value of diversification.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ALAN BORG Malta International Airport (MIA) S E R V I C E E XC E L L E N C E H A S B E E N C E N T R A L TO A L A N BORG’S VISION FOR MIA SINCE HE BECAME CEO IN 2015. BEFORE THEN, HE LED THE AIRLINE MARKETING TEAM A N D AC H I E V E D M A N Y M I L E S TO N E S F O R T H E A I R P O R T , I N C L U D I N G AT T R A C T I N G S E V E R A L N E W A I R L I N E S T O M A L TA A N D T H E D E V E L O P M E N T O F S K Y PA R K S B U S I N E S S C E N T R E . 2020 has dealt a heavy blow to the aviation industry, and recovery will be an arduous journey. “As a company, we’ve always sought to invest in strategic, non-aviation projects that complement our core business, and the pandemic has once again shown the value of diversification,” declares Alan. “When times are good, it’s easy to overlook longterm sustainability and prioritise quick gains. But crises remind us why it’s crucial to run a business as though it were a marathon, rather than a sprint. This has long been our strategy at MIA and the results have proven to be our life ring in this pandemic’s uncharted waters.” Above all, though, cultivating a strong, dedicated team has been indispensable. “We are fortunate to be a group that recognises the importance of flexibility and looking at the bigger picture,” continues Alan. “We had to implement costcutting measures, including wage reductions, but

the team’s understanding and support made this bitter pill a little easier to swallow. “We have also been able to explore a workingfrom-home set-up, which we’d been discussing before the pandemic. I still believe in the value of the office, mostly because of those spontaneous moments of human connection. I think our future will retain remote-work arrangements, as well as an office layout that facilitates valuable interactions and preserves the space as a breeding ground for ideas.” Reflecting on the future, Alan contends that airports are in for a tough six months before the industry bounces back. “Eventually, people will again seek new experiences abroad,” he concludes. “In the meantime, we’ll continue working with Government, airlines and all stakeholders to rebuild our network sustainably. When people feel comfortable enough to take to the skies again, we’ll be ready.”

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

MAURICE MIZZI Mizzi Organisation MAURICE MIZZI IS A S TA L W A R T I N T H E W O R L D O F BUSINESS. HE IS PRESIDENT O F M I Z Z I O R G A N I S AT I O N , WHICH HE JOINED IN EARLY 1964, AND HOLDS SEVERAL D I R E C TO R S H I P S , I N C L U D I N G F O R C O N T I N E N TA L C A R S L T D , M I Z Z I M O TO R S L T D , G E N E R A L SOFT DRINKS CO LTD, MIZZI E S TAT E S L T D , A R K A D I A L T D AND BNF BANK PLC.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“I lived through World War II when I slept 100m below ground in a rock shelter in our garden with many of our neighbours. We’d sleep at 6pm and wake up at 6am – often with water pouring in from the garden – to then go about our business, which for me meant going to school,” begins Maurice Mizzi, thinking back to the hardship of the time. “The pandemic, though, is worse. Instead of enemy planes, there’s an invisible virus and no warning of danger until it hits you. The jeopardy posed by COVID-19 has increased since spring, and that’s partly due to people being fed up of staying at home. They’re out mingling and putting themselves at risk of contracting the virus – but at this point, people are simply craving normality.” Considering the impact on businesses, Maurice explains that widescale adoption of technology to avoid meeting in person has been revolutionary. “When the pandemic is over, this system of communication will still be used. Online meetings might not always feel efficient, but there’s a lot less time spent travelling. There is no denying that our lives have been transformed.”

There is no denying that our lives have been transformed. In his concluding remarks, Maurice takes a moment to question what the future will bring. “Many businesses have closed and, without state funds, most other companies would have been in serious trouble by now, so that is disheartening. While the imminent vaccines are promising, the process of mass-producing them will take over six months, so our return to normality could take another year or two. The question is, with many companies eating into their reserves, which ones have the financial resources to last until then?”

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Opportunities of

Tomorrow

M O S T O F U S E N J O Y S P E C U L AT I N G A B O U T W H AT T H E F U T U R E H A S I N S TO R E : W H O W I L L W I N T H E E L E C T I O N ? W I L L T H E CO V I D - 1 9 VACC I N E B E E F F E C T I V E ? A R E R O B O T S TA K I N G O V E R ? B U T T H E R E A R E A F E W P E O P L E W H O R E A L L Y H AV E T H E I R F I N G E R O N T H E P U L S E , T R AC K W H E R E T H E W O R L D I S G O I N G A N D H AV E A N U N C A N N Y A B I L I T Y TO F O R E C A S T W H AT ’ S T O C O M E . H E R E , F O U R F U T U R I S T S S H A R E T H E I R I N S I G H T S I N T O W H AT L I E S A H E A D F O R T H E W O R L D A N D W H I C H O P P O R T U N I T I E S A R E R I P E F O R T H E TA K I N G . 53

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Leadership isn’t about having the answers; it’s about having great questions. G R A E M E CO D R I N G TO N, A N E X P E R T ON THE FUTURE OF WORK AND THE D I S R U P T I V E F O R C E S S H A P I N G I T.

Graeme Codrington jokes that futurists don’t predict the future. “They build the capacity to see and understand the meaning and implications of change,” he says. “In fact, we often look to history to help us understand what might happen in the future. It’s an approach that can help companies anticipate future trends and prepare for them. “We live in times of disruption, so we should expect and anticipate deep change – which isn’t necessarily negative. It just means that the old rules may no longer apply. Beyond COVID-19, more disruptions will come: AI, climate change, driverless cars, Mars colonies… the way we live and work will be transformed. To survive, businesses should switch on their radars and build adaptability and resilience into their corporate DNA. Do you have distributed decision-making? Are authority and responsibility closely aligned in your company? Are you responsible, flexible and agile?”

To this end, we must experiment and embrace diversity and difference, according to Graeme. “We need to build different worldviews into our system. To genuinely do so, we have to look beyond what we know and unlearn habits, actions, processes and systems, as well as attitudes and mindsets. Different countries do things in different ways, and some are miles ahead, especially in terms of technology. A case in point is China, which is 10 years ahead of the US in technology adoption. “The future will be better, worse and the same. Climate change is our next big crisis, but positives will come from technology and shifts in social values, especially from younger generations who seem to be more empathetic towards other people and the planet. History shows that it is our choices that can lead towards the better and away from the worse. Above all, though, think of others: create businesses that make the world a better place for as many people as possible,” he stresses.

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Always think in alternative futures. S O H A I L I N AYAT U L L A H , P R O F E S S O R AT T H E G R A D U AT E I N S T I T U T E O F F U T U R E S S T U D I E S AT TA M K A N G U N I V E R S I T Y I N TA I P E I A N D E D I T O R - I N - C H I E F O F T H E JOURNAL OF FUTURES STUDIES.

“A futurist thinks long-term, but also goes beyond that,” begins Professor Sohail Inayatullah, whose career in futurism is one of the most established worldwide and who was even awarded the inaugural UNESCO Chair in Futures in 2016 and the Laurel Award for the all-time best futurist by the Shaping Tomorrow Foresight Network in 2010.

intelligent and agile? How does this link to your vision of the future?”

“The futurist thinks through alternative futures via three horizons: the first is the very present ‘I’m too busy’ perspective; the second looks ahead with uncertainty around choices that impact what’s to come; the third sees a new vision of a preferred future.”

Reflecting on the decades to come, Sohail asserts that eventually we will need to work just a few hours a day because of technological advances. “Whichever way we look at it, technology must be for all and must increase equity, even though this somewhat depends on countries and regions across the world. Eventually, we will have global governance, but in the meantime, nations with too much history will find being optimistic or futures-oriented quite difficult,” he explains.

For Sohail, imagining possible futures emerges after tapping into one’s core narrative. “If you let it, your narrative will communicate what lies in front of you. Then, jump ahead to points in the future: what weak signals of emerging possibilities do you see? Let yourself be guided by your core metaphor: are you a crippled elephant or an octopus that is distributed,

“In the short term, we’ll face difficulties and contradictions, such as jobs vs automation, nation-state vs climate change. In the medium term, we’ll need to solve these problems or undergo long-term decline. Then, in the long run, the future could possibly look bright if platform cooperatives and the Earth were to become our operating narrative.”

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Be curious and seek new signals and information. S U S A N CO X - S M I T H , PA R T N E R A N D E X E C U T I V E P R O D U C E R AT C H A N G E I S T , A R E S E A R C H , A D V I S O R Y , E D U C AT I O N A N D C O M M U N I C AT I O N DRIVING FORCE FOR THE FUTURE.

There is no beating about the bush for Susan CoxSmith. “A futurist engages in active noticing,” she declares. “This means that one consumes other people’s perceptions and pays attention to shifts and changes in the wider world that may have implications for one’s enterprise. Curiosity is key.”

next phase, though, AI looks capable of replacing executive-level and white-collar positions, like lawyers, surgeons and financial managers. As yet, these roles still don’t anticipate that a well-trained AI could be more accurate or effective at their job than they are.”

Susan asserts that the futurist approach should never be the job of just one person within an organisation. Instead, to implement successful futureproofing, a company should provide training in the tools that support futures-oriented thinking for employees and stakeholders. “Futurist thinking benefits from having several people on board to consider the impacts of every decision, both positive and negative. And don’t be afraid to address failure as a possibility. Doing so will strengthen your business plan more effectively than ignoring situations in which failure might occur,” she advises.

Whatever the future looks like, Susan believes the world will continue to have “unevenly distributed” futures. “Business and tech trends will probably not align in a global fashion. However, this is not to say that companies that embrace lowtech, regionally-based approaches will not be successful or profitable,” she claims. “Placing ‘bets’ on which trends are most relevant to a country, region or business is a much better way to ensure success than trying to play catch-up with more technologically advanced areas or corporations. Remember: the unthinkable is still possible, so plan for those low-probability/highimpact shifts – like a pandemic – as it will make navigating the future a more resilient exercise.”

“Thinking about technology is paramount. Robots, machine-learning and AI have been taking over jobs for decades, and this will not abate. In the

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

Be an open-minded, curious person.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

YA S M I M S E A D I , L E A D D E S I G N E R AT E N V I S I O N I N G , T H E W O R L D ’ S F I R S T I N T E L L I G E N C E P L AT F O R M F O R EMERGING TECHNOLOGY.

“Keep an eye on signals, connect the dots, cross-check patterns and consider possible scenarios,” begins Yasmim Seadi, who forms part of Envisioning, which combines data visualisation with systematic research to help people see and prepare for the future. “Everyone needs to pay attention to subjects such as technology development, geopolitical events and demographic change. You should also read widely and listen to podcasts and talks by people from different backgrounds.” For Yasmim, curiosity is a trait that could serve companies well as they step into 2021. “Invite the people around you to be curious too,” she continues. “Empower your team and provide a safe place where people feel comfortable asking ‘obvious’ questions, exploring their imagination and being creative. Technology is obviously pivotal too, but don’t forget that technologies are not neutral because they always carry the bias of their developers. So, building a diverse team is important. Everybody has something to give and share, and we must listen more to create a more inclusive future.

“The pandemic has re-signified the form and fluidity of how technology can be implemented in corporations. Technologies are tools that can empower us, as well as help us to imagine and create narratives about tomorrow and build the future we want. We shouldn’t be afraid of losing jobs to AI. Instead, we should think about how to distribute the attributes of robotics more evenly to help workers prepare for and adapt to the upheaval it will bring.” Yasmim advocates for a ‘lifetime learning’ mindset to ensure people are always absorbing new skills and better preparing themselves for a wide array of futures. “The future can’t be predicted; it can only be imagined. It’s really important to understand that there isn’t only one possible future. The future of each person and place is going to be different. We need diverse people thinking about how to build a better, safer and more inclusive world for all kinds of people,” she concludes.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Skills Every CEO Needs in 2021 OUR ‘NORMAL’ HAS EVOLVED: HOW W E W O R K , W H AT W E L E A R N A N D WHERE IT ALL HAPPENS. AND, FOR THOSE LEADERS WITH A SHARP EYE, L E A R N I N G O P P O R T U N I T I E S H AV E EMERGED THROUGH THE COVID-19 C R I S I S . H E R E , F O U R O F M A L TA ’ S T O P C O R P O R AT E C O A C H E S S H A R E THEIR THOUGHTS ON THE SKILLS C E O S O U G H T TO E Q U I P T H E M S E L V E S W I T H TO R E V O L U T I O N I S E T H E I R LEADERSHIP STYLE IN 2021.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Marion Gamel Executive Coach at www.mariongamel.com A leader in marketing and business growth, Marion Gamel brings 25 years of experience to her coaching table. By partnering with both established and budding business leaders, Marion’s goal is to empower people to improve their efficiency, impact and confidence. Having long held C-level executive positions and a finger on the pulse of business trends, Marion Gamel does not beat about the bush. “The next year will be a challenging one,” she claims. “Without mastering the skills of agility, vision and communication, things will be even more difficult for corporate leaders.” Marion believes in continuous improvement and nurturing the power of transformation to discover new opportunities. “Right now, adaptation is essential. We have discussed a world characterised by VUCA – Volatility, Uncertainty, Complexity and Ambiguity – for a while, but 2020 has certainly taken this concept to unprecedented heights,” she remarks. “Leadership styles must adapt because the needs of customers and the workforce are changing. Executives should, of course, keep their eye on the ball, but they also need to adapt to their employees, who are feeling isolated and disconnected from colleagues and the company’s mission during the pandemic. As a first step, listen more, gather data and eliminate unconscious bias.” Delving deeper into key business skills for 2021, Marion explains that intellectual intelligence is a given at C-level, but “what makes the difference between good leaders and transformational ones is emotional intelligence. Soft skills – such as social and communication skills – are indispensable when handling audiences as varied as shareholders, investors, employees and customers, even more so while we’re in the midst of a health crisis in which we’re all deprived of human contact.” Quite often, though, soft skills are overlooked in favour of quick wins. That said, the nature of business in 2020 has brought their importance, as well as related coaching, to the fore of corporate

strategy. “I think leaders should reach out to independent coaches for two main reasons,” says Marion. “Firstly, trust and confidentiality are paramount; an independent coach will never divulge any information shared. And, secondly, people often feel more comfortable discussing certain topics with independent coaches rather than with their business’ internal ones. For coaching to really have an effect, there must be no taboo.” And, according to Marion, one topic that should be prioritised in 2021, whether through coaching or otherwise, is the psychological safety of teams. “Individuals should feel accepted, respected and able to function without fear of negative consequences. Effective leaders must establish this kind of psychological safety. Start by discussing risks and failures with your workforce to encourage them to push themselves further, learn from their mistakes and accept that it’s all part of the process,” she concludes.

Without mastering the skills of agility, vision and communication, things will be even more difficult for corporate leaders.

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Nathan Farrugia Managing Director at Vistage Malta Ever seeking that ‘aha!’ moment, Nathan Farrugia loves coaching and being coached. As Managing Director and Owner of Vistage Malta, an executive coaching organisation, Nathan Farrugia calls on over 20 years of business-leading experience. “A recent Vistage survey of over 20,000 global CEOs has shown that resilience is the top skill every business leader should master,” begins Nathan Farrugia, explaining that while keeping a level head is fundamental, focusing on a common purpose ensures all team members row in the same direction. “CEOs must communicate their vision clearly to unite the team in an environment of trust. Ultimately, it is emotional intelligence that encourages people to trust in your ability to keep them safe, and fear can only be overcome by high levels of trust.” A growth mindset and being open to proactively transform oneself together trigger a higher chance of succeeding than remaining in reaction mode, according to Nathan. “It’s easier said than done,” he smiles, “but not impossible with the right help. The economy is unpredictable, so those CEOs with a sounding board in the form of a coach or peer group will be better equipped to see the wood for the trees. In fact, executives who receive coaching or join peer networks perform 2.2 times better than their competitors.” According to Nathan, the reason is simple: we need to step out of our business to work on our business. From an objective viewpoint, people can take stock and make decisions with a clear mind. “Unfortunately, there’s the ‘I’m too busy’ excuse

and the guilt of leaving the firefighting to our managers. The solution? Take them with you!” he urges. “Find the space to think and plan together, rather than execute under pressure and without respite. And nurture a balance between personal, technical and leadership skills development. Based on average training spend, technical skills like finance, process and systems are prioritised over soft skills like emotional intelligence and communication. Yet without the ability to communicate, how can you explain decisions to stakeholders? Without emotional intelligence, how can you retain the best talent? Without leadership, how will people follow you and commit to your ideas?” Sharing some advice as the discussion draws to a close, Nathan asserts that people learn best by doing, and this is where coaching helps. “A coach works with you to help you grow,” he says. “Find yourself a coach in 2021. It’s an exciting journey with someone you learn to trust, someone who asks the awkward and testing questions. A coach makes you accountable to improve your commitment and is your reality check when you think the world is going insane and feel you’re slowly drifting in that direction yourself.”

The economy is unpredictable, so those CEOs with a sounding board in the form of a coach or peer group will be better equipped to see the wood for the trees.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jonathan Shaw Director Coach at Coaching Minds Transforming ideas into reality, driving projects, finding solutions, connecting people and adding value is what it’s all about for Jonathan Shaw. After a career as a business leader, in 2015 Jonathan opted for change. He embarked on a sabbatical, an intense Swimrun regime and training in cognitive behavioural coaching at the Association of Coaching in London. COVID-19 has dominated conversations across society for the past year, and Jonathan Shaw believes the reality and repercussions we are experiencing are here to stay – at least until next summer. “The best thing business leaders can do is to face reality head-on and equipped with the right skills,” he says.

“In the past, we used to refer to the term ‘managing people’,” he says. “Nowadays, a business leader doesn’t manage people; he or she empowers them. The reason is simple: such a leadership style creates opportunity to exploit potential. It is an agile way of letting top-level managers influence and empower everyone that comes below.”

“The way businesses have handled the pandemic has shown us the difference between a CEO and a brilliant CEO. The main issue is not the element of risk or loss, but that of uncertainty. As executives navigate this period, certain skills have become invaluable: regular communication, fostering and championing trust, and maintaining resilience in the face of the unknown,” which Jonathan also believes are the skills needed to survive into a postCOVID-19 world and beyond.

Focusing on and developing this ability among a business’ higher ranks, though, is challenging when people are pressed for time and pulled in different directions. According to Jonathan, this is where coaching comes in. By setting aside time on one’s calendar to commit to consistent improvement, accountability is brought into the mix. “Coaching aims to improve performance through a structured and collaborative approach with a present and future focus,” he explains. “Rather than telling people what to do, it is a process of helping individuals discover effective ways forward through discussion, challenging unhelpful thinking, and generating and evaluating options.”

Good coaches believe that the individual holds the answer to their own problems but may need help finding it.

For Jonathan, the beauty of coaching is that it is adaptable to the needs of each individual. “All leaders are human and have their own bias, experience and, at times, styles of unhelpful thinking, so each person requires a tailored approach. Good, external coaches help business leaders challenge the status quo both at organisational and personal levels. They believe that the individual holds the answer to their own problems but may need help finding it. If a coach works with this approach and holds back from telling people how to act, chances are they’re great at what they do,” he concludes.

MaltaCEOs 2021 THE ISLANDâ&#x20AC;&#x2122;S MOST INFLUENTIAL BUSINESS MINDS

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Emma Hogg Founder at A Life I Choose Emma Hogg lives, breathes and eats the science of joyfulness, wellness and achievement. She is the Founder of A Life I Choose, a self-development agency that guides clients to amplify their strengths and overcome challenges to create an exciting, meaningful and fulfilling life. “Whenever you hit a roadblock, seek opportunity; what you can do instead of what you can’t,” says Emma Hogg, starting with some sage advice as we get ready to set foot into 2021. “Now, more than ever before, the ability to create a clear vision for your business, maintain a mindset of resourcefulness and build the confidence to put yourself out there as a leader is pivotal when building a strong foundation of trust with your team and clients.” Emma’s perspective is rooted in the idea that when approaching a business with vision, resourcefulness and confidence, even a pandemic will not stop business growth. “You need to know where you’re going,” she adds, “so that when unexpected events make you swerve off route, your destination remains the same and you’ll find another way. At the same time, even with the most amazing strategy, if you don’t know how to be resourceful when challenges arise, moving forward will be difficult.” Throughout her career as a psychotherapist and lifestyle strategist, Emma has emphasised the power of amplifying one’s strengths and flexibility to empower oneself to overcome any challenge and spot opportunities. “People will invest in you when they trust that you can – and will – play to your strengths and deliver the results you promise,” she says.

Success is 80 per cent dependent on mindset and 20 per cent on strategy, but navigating the two often requires external help. 68

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“That said, many executives speak to me about their employees’ lack of motivation. The truth is that people are most driven when their achievements align with their sense of purpose. So, to get more from your employees, communicate with them. What is their vision for their career? How can you blend their vision with yours? You’ll see better results if they’re growing in the direction that they envision while also bringing value to your company.”

Thinking ahead to 2021, Emma asserts that success is 80 per cent dependent on mindset and 20 per cent on strategy, but navigating the two often requires external help. “As a coach, my job is to understand my client’s vision for their business, poke their blind spots and guide them to create strategies that realise that vision. We overcome self-doubt and fear together, and form a relationship based on trust. If I were to leave you with a single tip for 2021: find someone who can help you clearly see your vision, remain flexible and be the sounding board you can rely on.”

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Influential

CEOs TO WATC H W H Y DO W E L O V E S U CC E S S S TO R I E S ? S I M P L Y P U T , W E ’ D A L L L I K E T O B E L I V I N G A S I M I L A R TA L E , S O W E L O O K T O T H O S E W H O P R O S P E R F O R I N S P I R AT I O N . W H AT C A N W E D O B E T T E R OR DIFFERENTLY? ONE THING’S FOR SURE: THE WORLD’S MOST O U T S TA N D I N G P E O P L E D O N ’ T J U S T D R E A M A B O U T S U C C E S S ; T H E Y W O R K H A R D F O R I T.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

SUSAN WOJCICKI C E O , YO U T U B E

DRIVEN BY DETERMINATION Susan Wojcicki (pronounced ‘Wo-jitsky’) breaks the mould as an influential gatekeeper of the internet and is one of the most formidable people in technology. She is the longest-tenured CEO of the ground-breaking online videosharing platform, YouTube. Wojcicki stepped into the role in 2014 and, by 2016, had already met her target of getting people to watch a billion hours of video daily. While under fire for not ridding YouTube of all extremist and harmful content, Wojcicki forges ahead to nurture a platform focused on high-quality content and experiences for people to learn, laugh and explore. Over two billion active users later, Wojcicki is on a winning streak.

DID YOU KNOW? Google was founded in Wojcicki’s garage in 1998.

ELON MUSK F O U N D E R & C E O , S PAC E X ; CEO, TESLA

BRIDGING THE GAP BETWEEN VISION AND EXECUTION A man that needs no introduction. Revolutionising transport on Earth via electric car producer Tesla wasn’t enough for Elon Musk: space came next. SpaceX is Musk’s aerospace manufacturer and space transportation services company. In May 2020, it became the first private entity to send humans into orbit and to the International Space Station. But before his name became synonymous with transport breakthroughs, Musk founded X.com in 1999, which we know under its current moniker: PayPal. And to think that Musk’s success DID YOU KNOW? as a serial entrepreneur As children, Musk and his started at home in South brother made chocolate Africa, daydreaming, Easter eggs and then playing with home-made sold them for 20 times rockets and coding video their cost price. games. 73

MaltaCEOs 2021

Image credits Bumble

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

WHITNEY WOLFE HERD FOUNDER & CEO, BUMBLE

TRAILBLAZING IN TECH Leading the pack in online dating is Whitney Wolfe Herd. Still in her early 30s, Wolfe Herd is making the internet a safer place for women. She co-founded the now ubiquitous dating app Tinder, before going on to design the female-led dating app, and Tinder’s main rival, Bumble. Here is a CEO who is all about daring choices in business and technology. On Bumble, women make the first move in heterosexual pairings. This unassumingly bold concept led the original app to soar and later expand to help women meet new friends and expand their professional networks via Bumble BFF and Bumble Bizz.

DID YOU KNOW? Wolfe Herd championed legislation in Texas that has made digital sexual harassment punishable by law.

BRIAN ARMSTRONG CO-FOUNDER & CEO, COINBASE

COUPLING INVENTION AND PURPOSE “Most big breakthroughs DID YOU KNOW? are contrarian ideas Before even reaching that people dismiss his 40s, Armstrong was and ridicule at the valued at $1.6 billion. start” – a fearless and go-getting attitude has driven Brian Armstrong throughout his career. As CEO of Coinbase, Armstrong drives the world’s leading cryptocurrency trading platform. He co-founded the company at 29 and is responsible for introducing much of the world to cryptocurrency. Hot on the heels of Coinbase’s success, Armstrong opened GiveCrypto.org, a non-profit that distributes cryptocurrency to people living in poverty. His mission is to empower people financially so as to tackle the paradox whereby two billion people in the world have smartphones but still no access to essential financial services.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

LISA SU PRESIDENT & CEO, AMD

WHEN TREPIDATION BECOMES INNOVATION Think of your computer – what powers it? Quite possibly AMD technology. If we looked back a decade or so, AMD was on the brink of bankruptcy. Then, Dr Lisa Su came along. In her hands, the semiconductor firm has undergone one of the most remarkable turnarounds the technology sector has ever seen. From near bankruptcy to $100 billion market capitalisation in less than a decade, AMD is a leader in computer hardware. Taiwan-born and MIT-educated, Su’s mantra of “Run towards the hardest problems” has led to her dominating the tech sector as an unrelenting driver of innovation. Courtesy AMD

DID YOU KNOW? As a child, Su used to take apart her brother’s remote-controlled cars and then put them back together again.

MARC BENIOFF CO-FOUNDER & CEO, SALESFORCE

CONNECTING SUCCESS WITH PHILANTHROPY “You have to make tough decisions, you have to evolve, you have to change” – a mantra that guided Marc Benioff through ups and downs along the way to founding and leading one of the largest cloud computing companies globally. He is a self-made billionaire, emerging from humble beginnings to build one of the world’s most laudable companies. From working at Oracle, Salesforce’s largest competitor, to becoming the somewhat unlikely owner of Time Magazine, Benioff is full of surprises. Charity is also high on his agenda, and he and his wife have given the University of California $350 million for its children’s hospitals and research.

DID YOU KNOW? At 31, Benioff discovered his now lifelong interest in yoga while on a sabbatical travelling in India and Hawaii.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

METTE LYKKE C E O , TOO G OO D TO G O

FROM UNDYING PASSION TO ACTION Denmark’s start-up queen has got food waste firmly in her crosshairs. Back in 2007, Mette Lykke was solidifying a career in management consultancy but dreamt of creating a social network for fitness fanatics. The result was Endomondo, an app to motivate people to exercise more. Endomondo was eventually sold to Under Armour for a whopping $85 million. Now, Mykke is CEO of Too Good To Go, working with restaurants and food sellers to limit food waste by selling food at discounted prices. Working with 11 million users and 22,000 retailers in 11 countries, Mykke continues to impact the world positively.

DID YOU KNOW? A postcard reading “Whatever our wildest dreams may be, they only scratch the surface of what’s possible” made Lykke swap consultancy for her dream.

TIM COOK CEO, APPLE

REDEFINING THE LIMITS OF SUCCESS Tim Cook became Apple’s CEO in 2011 when co-founder, Steve Jobs, fell ill with cancer. What makes Cook’s leadership so resonant is his goal to keep Jobs’ legacy alive. He continues to guide Apple towards further growth, developing standout products like the iPad Pro, Retina MacBook and AirPods. Beyond shoptalk, Cook is admired for his firm stance on social and environmental issues. He is a notoriously private person, but publicly came out as gay in 2014 to inspire people to fight for equality. And, under his leadership, Apple unveiled widescale recycling programmes, and over 85 per cent of its global operations are now run on renewable energy. DID YOU KNOW? Cook is a fitness fanatic and loves the gym, cycling and hiking.

MaltaCEOs 2021

SUNDAR PICHAI CEO, ALPHABET/GOOGLE

TRANSFORMING VISION INTO EXCELLENCE Sundar Pichai lives the American dream. He emigrated to the US from India when he was granted a scholarship at Stanford University. Eventually, Pichai joined Google and quickly rose through the ranks, leading its most successful products, including Drive, Gmail and Maps. And it was upon his insistence that Google launched its web browser, Chrome. Pichai became CEO of $1 trillion Google in 2015 and later Alphabet – the parent company – in 2019. Pichai is at Google’s helm at a pivotal moment: how can he keep the company innovative while DID YOU KNOW? protecting user privacy, Pichai preps for his tackling regulation and day with a cup of tea, remaining competitive? an omelette and The Time will tell. Wall Street Journal.

Photograph by Christie Hemm Klok for Fortune

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

BRIAN CHESKY CEO, AIRBNB

REVOLUTIONISING HOLIDAY LETS Airbnb reinvented what it means to ‘find accommodation’ when going on holiday. What started as a way for Brian Chesky and co-founder Joe Gebbia to pay their rent has turned into a worldwide phenomenon. If you’ve ever wondered where the name came from, it started as AirBed & Breakfast, a nod to their beginnings charging people $80 per night to sleep on their air mattress in San Francisco. Unfortunately, the COVID-19 pandemic has not been kind to the travel industry, causing DID YOU KNOW? Airbnb’s estimated worth to drop Chesky is a great from $38 billion to $18 billion. The advocate of making question is, what comes next? No lists to remain doubt Chesky has got something productive. up his sleeve.

TheInterviewsIndex 98 Norman Aquilina CEO, Farsons Group

102 Julian Mamo

154

214

Rose Anne Cuschieri

Arthur Calleja

Jesmond Mifsud

CEO, Malta Further and Higher Education Authority

CEO, WĂźrth Ltd

CEO, Malta Maritime Pilots

160

278

220

284

Jean Claude Muscat

Karl Azzopardi

Managing Director, GasanMamo Insurance

Charles Xuereb

CEO, St James Hospital Group

CEO, INDIS Malta Ltd

CEO, Trident Estates Plc

106

164

224

288

Jeremy Cassar

Joanna Delia

Matthew J Mercieca

Joseph Gerada Regulator, Family Business Office

CEO, Marsovin Ltd

CEO, People & Skin

CEO, Matthew James Mercieca Design Architects (MJMDA)

110

168

230

Enrico Bradamante

Kevin Chircop

CEO, Maverick Slots, and Founder & Chairman, iGEN

Executive Chairman, Enemed

Matthew von Brockdorff CEO, Atlas Insurance

114 Adriana Camilleri Vassallo

172

234 Jimmy Cutajar

294 Niki Travers Tauss Managing Director, Esprit Yachting

298 Carmel Cachia

CEO, Francis J Vassallo & Associates Ltd

Dana Farrugia

CEO, Global Freight Solutions (GFS)

Chief Administrator & CEO, eSkills Malta Foundation

CEO, Tech.mt

118

178

240

304

Jesmond Bugeja

Gege Gatt CEO, EBO

David Curmi

Felipe Navarro

CEO, MAPFRE MSV Life Plc

CEO, MAPFRE Middlesea

CEO, Malta Communications Authority

122

182

244

308 Miriam Teuma . . .

Dino Fino

James Calleja

CEO, Agenzija Zghazagh

CEO, Dino Fino Home + Contracts

Principal & CEO, MCAST

186

250

314

Anton Buttigieg

Beppe Muscat

Vasileios Kasiotakis

CEO, TradeMalta

CEO, NM Group

CEO, Maltco Lotteries

192

256

Rick Hunkin

Paul V Tabone

Michael Bonello

CEO, Bank of Valletta

CEO, Tabbingtons Ltd

Architect & Director, Natural Stone Workshop

CEO, Alliance Group

196

260

322

Christopher Busuttil Delbridge CEO, Evolve

128 134 138

Sebastian Ripard CEO, TXF Tech

318 Reuben Lautier

Michelle Piccinino

Sandro Zammit

Laura Jasenaite

CEO, Bull Europe Ltd

CEO, COOL Ride-Pooling

CEO, GO Plc

CEO, Environment and Resources Authority

142

200

266

326

Nikhil Patil

Andrei Grech

Andre Zarb

Gareth Genner

Senior Partner, KPMG

CEO, Trust Stamp

CEO, Halmann Vella

CEO, AG Group

146

206

270

Kevin Rapinett

Jeffrey Buttigieg

Paolo Catalfamo

CEO, RE/MAX Malta

Chairman, Lifestar Holding Plc

150

210

Jamie Houston . Managing Director, Carblu Malta

Reuben Xuereb CEO, QP Design | Engineer | Manage

Peter-Jan Grech CEO, BRND WGN

274 Johann Grech Malta Film Commissioner & CEO, Malta Film Studios

MaltaCEOs MaltaCEOs 2021 2021

MaltaCEOs 2021

THE THE ISLAND’S ISLAND’S MOST MOST INFLUENTIAL INFLUENTIAL BUSINESS BUSINESS MINDS MINDS

Meet

50 of

island’s THE

MOST

INFLUENTIAL BUSINESS minds 97 97

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Norman Aquilina

CEO, FARSONS GROUP

“ T H I S H A S B E E N A J O U R N E Y O F C O N S TA N T C H A N G E , NUMEROUS CHALLENGES, COLLECTIVE ACHIEVEMENTS, A N D G R E AT P E R S O N A L S AT I S F A C T I O N . ”

AS HE LOOKS BACK ON A DECADE AS CEO OF THE FARSONS GROUP, NORMAN AQ U I L I N A CO N T I N U E S TO R E S O L U T E L Y B R I DG E T H E G A P B E T W E E N T H E C O M P A N Y ’ S I N C R E D I B L E H E R I TA G E A N D I T S E X C I T I N G F U T U R E . W I T H 8 0 0 E M P L O Y E E S TO L E A D A N D A R E G I S T E R E D T U R N O V E R O F € 1 0 3 M I L L I O N , T H I S I S N O S M A L L TA S K , B U T I T I S O N E N O R M A N E M B R A C E S E V E R Y S I N G L E D A Y .

When it comes to a well-loved and recognisable portfolio of products, the Farsons Group delivers. With a history dating back to 1928, its core business remains as brewers and beverage producers, while the entire organisation encompasses subsidiaries in the importation of wines and spirits, water dispense supply, the importation of foodstuffs, and the franchise food business – all within the fast-moving consumer goods category.

of driving performance – particularly among our management but also across the entire Group – always prevail.” It’s an approach that has stood Norman in good stead as the first-ever non-family member to head the Farsons Group management team. He admits this did add some pressure in the early days, but actually served to inspire him to take on responsibility from Louis A Farrugia, who had successfully led the Group for many years. “I have always been conscious of the challenge of filling Louis Farrugia’s shoes, while knowing there were understandable expectations that needed to be satisfied,” he smiles. “When I took over in 2010, I believed it was important to strike the right balance; one that ensured continuity, while also addressing the necessary changes to the sectorial environment as a result of the

CEO Norman Aquilina describes his role as one of leadership and navigation, but adds a nod to the attainment of set corporate goals. “It’s a role fundamentally driven by means of ensuring that our Group’s strategic vision, along with our core values, are well rooted and maintained,” he explains. “On top of that, I also ensure that the right mindset and culture 98

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “My sporting endeavours help me achieve balance, and I try to ensure that my working and sporting time complement, rather than conflict with, one another. After all, sport provides the physical and mental therapy that indirectly helps me to deal with the daily pressures of work. I see it more as a way of life; a life I have chosen, and which motivates me and fills me with satisfaction.” 99

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

market liberalisation that took place just two years prior to my appointment.” From the get-go, Norman put heavy focus on continuity and pursuing the strategic vision that had been set. “My perspective here was fundamentally driven by one key consideration,” he says. “That while we have tremendous heritage behind us, we also have lots of opportunities ahead of us. As for my 10 years in the role, I can sum them up very succinctly: a journey of constant change, numerous challenges, collective achievements, and great personal satisfaction.” And despite leading Farsons Group as CEO for a decade now, Norman is quick to point out that being a CEO doesn’t automatically make you a leader. “You need to earn it,” he stresses. “You must walk the talk and learn to listen more, and not expect to only be heard. Beyond that, leadership is about setting direction and not relaying a form of dictation; it’s about seeking to influence and not to control; it’s about empowering and energising people, and not about issuing orders.”

Norman says he is most enthused by the competitive challenges of his role; it provides the adrenaline kick that drives him. “I am not short of challenges,” he quips. “But as long as we are on top of them, that’s fine and, indeed, motivating. As I like to say, challenges are there to be overcome and not overlooked.” Of course there are challenges, including the unfortunate reality of sometimes having to operate within an unlevel playing field, where Norman says the Farsons Group is faced with recurring and unfair competitive circumstances. “Here I am predominantly referring to us having to compete against operators who illicitly import and manage to maintain a good part of their business outside the fiscal radar,” he says. “Somewhat ironically, but also most frustratingly, because of our leading market position within the beverage sector, we are sometimes seen as easy prey by the authorities when considering the introduction of new measures given our compliance track record. We have always championed a competitive environment but have not, and will not, shy

And Norman goes one step further – highlighting that leadership challenges are not there to expose your weaknesses but to help you discover your strengths. “It’s my approach to be resilient and determined, and to always retain a ’can do’ attitude in whatever I set out to do. My motto is ‘believe and you will achieve’. After all, it is so much more energising to be surrounded by a team of believers and achievers.”

The coming months will be crucial in determining the long-term implications of the pandemic. I do believe its impact has been significant on most businesses and, going forward, will certainly result in lasting changes with regards to how many businesses are structured and how they operate.

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MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

away from condoning unfair competition in whatever form. What we should all be aiming for is an environment where fair competition and good governance prevail across the board. This sadly still remains a challenge.” It goes without saying that 2020 brought its own particular challenges too. However, in spite of all the woes that the pandemic brought about for the Group, it paradoxically also presented some opportunities. “This stems from my firm belief of the need to see opportunity in every scenario,” the CEO continues. “When experiencing challenging times and accelerated changes in a heavily subdued but nonetheless competitive environment, businesses are forced to brace themselves and endure the pressure, taking corrective measures to mitigate the impact and ensure they stay within, and ideally ahead of, the pack.” It is within this context that Norman believes this pandemic has brought on an opportunity for businesses to undertake a reality check, along with any required root and branch transformation. “During this year we responded by transforming, wherever possible, our set-up into a more flexible cost structure, to adapt and more efficiently satisfy seasonal and varying market demands.” And while Norman does see opportunities on the horizon, he admits the island will likely continue to experience some rising unemployment in 2021, as well as a fragile and smaller tourism industry, and a generally weaker economic and commercial climate for some time until a greater sense of normality is restored. “Clearly, the challenge is not over yet,” he says. “And the coming months will be crucial in determining the long-term implications of the pandemic. I do believe its impact has been significant on most businesses and, going forward, will certainly result in lasting changes in how many businesses are structured and how they operate.” Now, with his eye firmly on 2021, Norman says his outlook for the Farsons Group is one of cautious optimism, even if he falls short of talking about a rebound or recovery, especially within the first half of the year. “In my point of view, before talking about recovery we need to deal with the spillover that this pandemic will undoubtedly leave behind.”

Quick-fire Questions… with Norman Aquilina What is your morning routine? I work out, have breakfast, and review any emails, reports and calendar appointments before heading to the office. Did you have a hero when you were younger? No one in particular. Do you have one now? Yes, my dad, who has sadly passed away. He was exemplary in his ability to move forward no matter the odds. Where did you work from during lockdown? Mainly the office. Zoom calls or in-person meetings? In-person but currently Zoom. What tool (online or otherwise) do you use most in your business? Business Intelligence reporting and video conferencing. What’s your top tip for productivity? Fully commit and take pride in all that you do. If I gave you a magic wand, what would you do with it? Make Malta greener and cleaner, with much less construction. What’s your favourite time of day? Morning. What entertained you most during lockdown? Outdoor training. Does your life today look different to 2019? Yes, living a less social life, which is sad but will hopefully soon be overcome. Does your business today look different to 2019? Yes, and even if it is tough, it has given us all the opportunity to work towards more resilient and sustainable businesses.

Whatever the extent and market reach of that spillover, Norman firmly contends that the Group needs to remain constantly vigilant to always ensure it is ahead of the curve. “We must be best-placed to better exploit arising opportunities, while also being poised to address the challenges of today, but more so, of tomorrow,” he asserts.

Is success built on hard work or luck? Hard work, but some good luck always helps.

“We need to make sure that we remain well positioned to satisfy market demands within all the businesses we operate. We will continue to transform the way we do things, with a view to further strengthening all our competitive advantages and addressing any shortcomings. We will continue to constantly update and revisit our product portfolio and sales strategy, along with our distribution model. Finally, we will also keep redefining the best go-to market strategy, given the everchanging market scenario, for each of the companies within our Group,” he concludes. 101

What’s your top tip for running a business in Malta? Remain ambitious and challenging, stay strategic and informed, and be dynamic and results-driven. What do you hope the world achieves in 2021? Relative normality but with some lessons learnt. What’s next for you? I am always on the lookout for new challenges. Even before our year ends, my mind is well into the new year!

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “I consider myself to be very fortunate as I have, what I believe to be, a good work ethic. I consider it crucial to work hard and productively; balance is essential. I split my time between work, family and self. I keep myself relatively fit by going to the gym three times a week and I have two hobbies I am passionate about: playing polo and sailing.” 102

MaltaCEOs 2021

Julian Mamo

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

MANAGING D I R E C TO R , GASANMAMO INSURANCE

“ I N T I M E S O F C R I S I S , O U R J O B I S TO R E S P O N D POSITIVELY, CONSTRUCTIVELY AND IN LINE WITH O U R O B L I G AT I O N S . ”

T H E I N S U R A N C E S E C TO R WA S O N E O F T H E O N E S M O S T C A S T I N TO T H E S P O T L I G H T O F CO V I D - 1 9 A N D , L OC A L L Y , G A S A N M A M O I N S U R A N C E M A N AG I N G D I R E C TO R J U L I A N M A M O H A D TO S T E E R T H E S H I P O F U N C E R TA I N T Y W H I L E M A I N TA I N I N G L E A D E R S H I P F O R H I S TEAM AND CLIENTS. BUT IT HAS BEEN A SUCCESSFUL YEAR, AND ONE WHICH HAS EVEN HIGHLIGHTED NEW OPPORTUNITIES FOR T H I S L E A D I N G L O C A L O R G A N I S AT I O N .

There’s a legacy that comes from taking the helm of a decades-old family business – and especially one that’s a household name. Julian Mamo takes that legacy very seriously, and begins his interview by saying he is incredibly proud of the company’s achievements. “GasanMamo Insurance is the result of a 1999 merger of two insurance operations, Gasan Insurance Agency and Galdes & Mamo,” he explains. “When I completed my studies in business management, I joined the latter, which was a family-owned business too. After a few years it became clear that there were advantages to joining forces and benefitting from more scale; we knew it would bring a variety of positives. So, the Gasans and the 103

Mamos came to an agreement, and we haven’t looked back since.” Among the many highlights of his time with the company, Julian singles out the formation of GasanMamo Insurance as a real landmark, when he helped lead the team that built a single organisational structure out of two. But there have been others, such as the transition of the organisation from an agency to an insurance company, the expansion of operations beyond Malta, and the moment when he took over the Managing Director role from Albert Mamo upon his retirement. Today Julian assimilates his role with that of a conductor, who “alone can make no music.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

We are a sector people turn to in the event of a mishap. We operate in the risk business, so, by its very nature, insurance can be very challenging. But we have However, with a very capable group of musicians in front of him, transforms them into an orchestra producing wonderful music. Thus, my role is to set the company’s direction and tone, providing space for teams to work towards a common objective,” he smiles.

proven that we will be here for people no matter what.

He also derives immense satisfaction when, in the face of adversity, the company succeeds in achieving positive outcomes. “We operate in the risk business so, by its very nature, insurance can be very challenging. We are a sector people turn to in the event of a mishap and our job is to respond positively, constructively and in line with our obligations.”

maintaining a very grounded approach to business; seeking out profitable growth while at the same time being very prudent.”

Switching his attention back to the company he leads, Julian says that it has evolved beyond recognition in the time that he has been a part of it. “It has grown exponentially and seized opportunities for growth since Malta joined the EU,” he highlights. “While the core operation remains in Malta, operations outside Malta have continued to increase in importance. Currently GasanMamo Insurance is passported into France, Greece and Cyprus. In addition, over the years we have experienced major regulatory changes with Solvency II and now IFRS17, and we have seen markets boom and markets crash. We have moved forward by always

Julian also prides himself on the company’s excellent distribution network, which he says GasanMamo has invested heavily in to make it conveniently accessible to clients. “We offer great service and great value, and this is appreciated by clients – of whom the vast majority are very loyal. I would say consistency has been a key element of our success.” Still, 2020 was a very different year to the one that was expected by the company and the Managing Director takes some time to reflect on that. “The business sector 104

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

really did get a cold shower; suddenly all that was taken for granted was being called into question,” he muses. “Fortunately, as a regulated entity, a great deal of scenario-planning and stress-testing has been done. Of course, while doing them one assumes they are so farfetched that they will never happen! Well, in 2020 they did happen. International markets crashed, business paused, and staff could not come in to work.” To deal with this internally, Julian says focus immediately shifted to ensure the health and safety of GasanMamo’s staff and clients. “Once that was sorted, technology quickly became the focus to ensure we could operate well with staff working from home,” he recalls. “After that, we focused on business retention and servicing our clients; every effort was made to keep service levels in line with the high standards that have come to be expected of us. Thankfully, the situation has now settled down and we have all learned to cope with this new reality. We have learned positive lessons along the way and actually made changes that had been on the cards for some time.” Julian now looks back on this tumultuous period with pride at the overwhelmingly positive response by staff and clients to any significant disruption. “People adapted to changes and found a way to make things work,” he enthuses. “This was encouraging because the level of uncertainty, especially around March, was unprecedented and extremely challenging. The upshot is that we have found that our staff can work effectively from home, and we hope this will contribute to the well-being of those who choose to, and provide an avenue for improved flexibility.” For the Managing Director, this level of change will undoubtedly bring opportunities and threats, and he stresses it’s critical to be well-placed to seize any opportunities as they come. “The need for financial protection is likely to increase and accessibility will be key,” he says, with an eye on what’s to come in 2021. “I don’t think we have reached the end of the economic downturn. The question now is, how long will it be till the economy restarts and recovery kicks in? This in itself will stimulate innovation and opportunities and, with the right mindset, should be seen as a positive time.” CSR and sustainability will no doubt play an important part in that innovation, and Julian certainly doesn’t shy away from his hopes to make GasanMamo ever more sustainable. “All of us must be partners in our struggle against climate change,” he says. “Individuals, corporations and governments… no single element can do it alone. “As a company we are wholeheartedly committed to being more sustainable. We have introduced initiatives to reduce, reuse and recycle, and technology has assisted greatly in this effort. There is still much to be done and we’ll continue to work in this direction.” Finally, Julian concludes by saying he hopes that 2021 will be all about dusting the company off and getting back to where GasanMamo was at the end of 2019. “Given the circumstances, this in itself will be an amazing achievement. As for the coming 12 months, I sincerely hope that we will see signs of a recovery and that we can really participate in that. We will continue to explore opportunities for cautious profitable growth,” he adds. 105

Quick-fire Questions… with Julian Mamo What is your morning routine? I wake up at 6am, have a gym session and head to the office. Did you have a hero when you were younger? No. Do you have one now? No. Where did you work from during lockdown? My daughter’s bedroom, as she was away at university. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Nowadays it’s Microsoft Teams. What’s your top tip for productivity? Write a plan and cross it off as you go through your list. If I gave you a magic wand, what would you do with it? No idea! What’s your favourite time of day? The morning. What entertained you most during lockdown? Spending more time with my family. Does your life today look different to 2019? Yes, much less socialising. Does your business today look different to 2019? Not really. Is success built on hard work or luck? A healthy mix of both. What’s your top tip for running a business in Malta? Confidence backed by knowledge and humility. What do you hope the world achieves in 2021? Good leadership. What’s next for you? My journey continues.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “The idea of work-life balance is something that everyone chases but few achieve. Sometimes I achieve balance and sometimes I don’t – the question is whether you balance it out overall. As a father, I spend most of my time when I’m not at work with my kids. I genuinely enjoy spending time with my family, seeing my son and daughter grow up, and being there for them.” 106

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jeremy Cassar

CEO, MARSOVIN LTD

“ W E S H O U L D S H O W M O R E L O YA L T Y TO WA R D S QUALITY MALTESE PRODUCTS.”

R E P R E S E N T I N G T H E F O U R T H G E N E R AT I O N I N T H E F A M I L Y T O R U N M A R S O V I N , J E R E M Y C A S S A R ’ S M I S S I O N I S C L E A R : TO W R I T E T H E N E X T C H A P T E R I N T H E W I N E R Y ’ S I M P R E S S I V E H I S TO R Y A N D CO N T I N U E TO D R I V E I T F O R WA R D W I T H A T I R E L E S S E M P H A S I S O N Q UA L I T Y .

made the company stronger and helped establish it as a leading beverage supplier apart from a leading wine producer. Other highlights include being responsible for a number of new wines which the winery has introduced over the last decade. “These include brands which are very important to us, and which we plan to build on for many years to come,” he says, affirming that the quality of the wine that Marsovin produces has also experienced a marked improvement over the years.

Jeremy Cassar believes his primary role as CEO is to continue to steer Marsovin Winery – which has an impressive history spanning over a century – in the right direction. To do this, he relies on “a strong team of capable people who I can trust, and who, above all, hold the company at heart.” Marsovin finds its roots in 1919, when Jeremy’s great-grandfather, Anthony Cassar, set up a wine merchant business which would develop into a strong enterprise. Since taking the reins, Jeremy’s main goal, he reveals, has been to make large strides in the quality of the wine they produce and ensure that the business continues to stand strong for years to come. “We’re already 101 years old, and I am now launching it into the second century with new ideas for the future,” he says.

Looking at how the landscape has changed, Jeremy says that both standards and the way of doing business are different now to how things were done in his great grandfather’s time. “There were less operators in the market, and personal relationships with individuals were far more important – the way business was done was less formal. People helped each other a lot more. At the same time, it wasn’t an open market, so it was there for the Maltese to enjoy. Nowadays there’s a more corporate approach – apart

Looking back on his achievements so far, Jeremy recalls joining forces with Master Group to set up CassarCamilleri in 2013 – a move which he says 107

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Our aim is to continue to increase people’s perception of Marsovin as a leading wine producer, and always make better wines. We’re happy with what we’re doing today, but what we’re doing tomorrow has to be better.

from quality in the wine business having improved drastically,” he reveals. Over four generations, Marsovin has continued to go from strength to strength. Jeremy believes that this comes down to the right decisions being made at important junctures in the company’s history. Among these, he points out a more industrious approach being adopted in the 1950s to take the winery beyond its small business roots, and the decision, in the 1990s, to go for a long-term quality vision by planting its own estates and employing a team of people that could produce quality wine.

Affirming that looking at the long-term is a must in the wine business, Jeremy says that this has always been the case with Marsovin, apart from aiming as high as they can when it comes to quality. “Part of the success of our image as a quality wine producer is that we’ve always looked to the long-term; bringing new ideas and trying to do the best we can with them,” he says. Referring to 2020 as a “challenging yet fruitful year”, Jeremy says that it was a year in which wine sales were understandably down, yet the vineyard produced the same amount. “We had planned for a better year, which means that we had an excess capacity of wine,” he says, adding that certain events which were planned to promote different wines couldn’t happen. But while the company certainly took a hit financially, Jeremy and his team were adamant to keep all 148 employees on board despite the difficulties brought about by the pandemic. Speaking of his role during this period, the CEO affirms that he couldn’t have done it without a responsible team around him. “It was more about reassuring people and speaking to more of them one-to-one,” he maintains. 108

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

And while the majority of people working at the winery were able to carry on as normal, with the vast space affording a natural degree of social distancing, Jeremy says that, for others, a lot more time was spent working from home. “I’ve always believed that people should spend some of their time working from home. I don’t think it’s beneficial to spend too much time stuck in an office,” he says, adding that in 2020, it was especially important for parents who had to juggle work with caring for their children. Describing it as a positive experience overall, he says that remote working will continue to be embraced by Marsovin, where appropriate. “I think this flexibility needs to carry on.” On the business side of things, the winery saw a shift towards more home deliveries as a result of COVID-19 restrictions and was fortunate to have emphasised digitalisation at the outset. “Funnily enough, we were already working on our online shop and it was planned to be launched mid-March, so it was perfectly timed,” Jeremy reveals. The company also embraced innovation at CassarCamilleri, through which the team started producing hand sanitiser as a reaction to COVID-19. Looking ahead, the CEO says that the focus now is how to develop into an even more online-friendly business, which will enable customers – not just the consumer, but also restaurants and bars – to order online. “Currently, these orders are done via sales rep or over the phone, but there’s certainly an opportunity there,” he admits. In a broader sense, another opportunity which Jeremy feels has come out of the COVID-19 situation is a renewed appreciation and loyalty towards local products, which the CEO says should be built on and embraced. “There’s been a certain nationalistic feel that emerged,” he says, asserting his belief in supporting Maltese products. “We should show more loyalty towards local items. People should not be so eager to praise anything that’s foreign when there are many Maltese products and services that are equally good,” he maintains, adding that the unprecedented situation with COVID-19 has started to instil this appreciation for the local product in people. And while the pandemic has thrown long-term plans into disarray, Jeremy says that looking ahead, the indicators are that climate and health are going to be given more importance, which augurs well for Marsovin. “As a winery, we are on the green side of manufacturing,” the CEO explains, highlighting their practice of washing and recycling glass bottles, and investment in local farming, adding, “we support the environment by buying grapes from 250 farmers across Malta and Gozo.” As for what’s in store in the years to come, Jeremy reveals plans to set up a small winery on one of Marsovin’s own estates, and to continue on his tireless quest for quality. “Our aim is to continue to increase people’s perception of Marsovin as a leading wine producer, and always make better wines. We’re happy with what we’re doing today, but what we’re doing tomorrow has to be better.” 109

Quick-fire Questions… with Jeremy Cassar What is your morning routine? I make myself a cup of tea! Before my eyes can even start to read, I normally open my laptop. Did you have a hero when you were younger? My father. Do you have one now? There are wise people that I respect, but I wouldn’t call them heroes. Where did you work from during lockdown? Mostly from the office. Zoom calls or in-person meetings? I prefer face-to-face. What tool (online or otherwise) do you use most in your business? My phone. What’s your top tip for productivity? Delegate and trust. If I gave you a magic wand, what would you do with it? I’d make Malta more beautiful by removing some horrendous blocks of flats and replacing them with vineyards. What’s your favourite time of day? When I put my kids to sleep. What entertained you most during lockdown? Working on my family house, which we’re currently doing up. Does your life today look different to 2019? I’m at home more. I used to travel once or twice a month. Does your business today look different to 2019? We’ve lost a good percentage of our business due to the lack of tourism. There’s also more time for planning and looking ahead. Is success built on hard work or luck? Largely hard work. What’s your top tip for running a business in Malta? Having good ethical standards, and being fair and honest. What do you hope the world achieves in 2021? I hope that COVID-19 is no longer a threat to world economies and people’s health. What’s next for you? My priority is to pass on the winery to the next generation in a better state than I found it.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Matthew von Brockdorff

C E O , AT L A S INSURANCE

“ W E H A V E A S O U L A N D A P U R P O S E B E Y O N D P R O F I T. ”

M AT T H E W V O N B R O C K D O R F F T O O K O N T H E R O L E O F C E O AT AT L A S I N S U R A N C E J U S T W E E K S A F T E R T H E PA N D E M I C H I T , A N D Q U I C K L Y M A D E I T H I S R E S P O N S I B I L I T Y TO H E L P T H I S R E N O W N E D L OC A L B R A N D W E AT H E R T H E S T O R M . H E K N O W S 2 0 2 1 I S A D I F F I C U L T Y E A R TO P R E D I C T B U T H O P E S TO L E A D B O T H T H E CO M PA N Y A N D I T S C L I E N T S TO E V E N S T R O N G E R P O S I T I O N S I N T H E 1 2 M O N T H S A H E A D.

Matthew von Brockdorff rose through the ranks of the insurance sector to become CEO of one of Malta’s most recognised brands in 2020 – a responsibility he takes extremely seriously. “I see it as my job to lead our super team to achieve great things, and to enable Atlas to grow and move to the next stage of its evolution,” he says succinctly. Matthew absolutely relishes this position. As he takes a moment to reflect on his journey so far, he says that “every step has been an interesting challenge and learning opportunity. I have no regrets and appreciate the process that led me to my role today,” he smiles. Asked to pinpoint some of the milestone moments, Matthew immediately thinks of his early qualifications – completing his Associateship of the Chartered Insurance Institute (ACII) at 20, followed by his

Fellowship (FCII) at 25, all the while working in stints in practically all the departments of his family’s insurance business, which was then called R von Brockdorff Insurance Agency Ltd. “This definitely helped me to gain a good foundation for the later stages of my career,” he says with confidence. Then, in 1999, the merger with other insurance agencies led to the formation of Atlas, which eventually evolved into a local insurance company in 2004. Having played a key role in that merger allowed Matthew to widen his exposure and experience in new ways and he was then, in 2005, appointed Deputy Managing Director of the new Atlas Insurance company. That’s when he took on key areas of responsibility that enabled him to specialise and focus on particular aspects of the business. “Finally, of course, it was very exciting to be appointed Managing 110

MaltaCEOs 2021

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“The pandemic highlighted the importance of empathy with staff, especially in understanding and supporting those that had special challenges when it came to working from home, as well as those who experienced difficulty working in such extraordinary times.”

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I was thrilled to see certain individuals stand out and rise to the challenges faced, despite adversity. I was pleased to see that we managed to exceed customer expectations on so many occasions and, in fact, our Net Promoter Score actually increased during 2020.

insurance products, and for our no-nonsense and prompt claims settlement,” he continues. “We truly are leaders in customer experience on the island because of our dedicated and caring staff, who are known to go beyond the call of duty to assist our clients. We are a company with a soul and a purpose beyond profit.” ‘Purpose beyond profit’ is actually an ethos that’s very important to Matthew and his wider team. In fact, for many years Atlas has been contributing to the community as part of its CSR initiatives, which are mainly focused on three areas – the company’s contribution to the nation’s health and fitness, to its heritage, and to children’s charities. “We are now taking a very active approach to environmental social governance,” the CEO continues, “starting with our tree nursery planting initiative with Saggar this year, and there are others to be planned in the future. We will also carry out a sustainability audit of our office operations. We know it’s key to include our stakeholders in this part of the business, so we always try to involve our staff and clients in these CSR initiatives.”

Director and CEO early in 2020. The role carries great responsibilities for all stakeholders of the business.” Good leadership is critical to Matthew and, for him, it all comes down to one’s ability to inspire and empower others to achieve and be credited for the goals they successfully attain. “A leader has to balance all available resources and motivate their team to achieve business and personal objectives,” he says. “Effective communication and maintaining good relationships are key to success.” It’s with this in mind that Matthew says customer experience is an absolutely critical pillar of Atlas’ achievements. “Our customers put their minds at rest and trust us for our great reputation, for our quality

One important project to come out of those initiatives is the company’s wellness programme, which hosts activities that range from varied talks on health and wellness topics 112

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

to exercise classes in circuit training, boxercise, Pilates, yoga and Zumba. “Beyond that, our ICAS Employee Assistance Programme for staff then includes not just psychological support but also legal, financial and management support, in a totally confidential manner, for our teams and even their family members. We like to support our people when they need it most,” he says adamantly. It’s this tireless dedication to its stakeholders that has no doubt stood Atlas in such good stead over the last year – a year that could have been far more challenging for the organisation than it turned out to be. “While it’s true we didn’t achieve our targeted growth in 2020, there have been many positive moments,” he continues. “Our super team actually kept the business going reasonably well.” To facilitate this, Matthew himself had to quickly adapt to his new role as CEO and put ‘Team Atlas’ very much in focus. “Clear, transparent, and frequent communication to all our staff was essential for this to work,” he stresses. “And it was worth it because it did work. I was thrilled to see certain individuals stand out and rise to the challenges faced, despite adversity. I was pleased to see that we managed to exceed customer expectations on so many occasions and, in fact, our Net Promoter Score actually increased during 2020. Most of all, though, I was surprised to see the speed with which we adopted – and have now adapted to – remote working and a flexible-hours working environment.” Further digitalisation along these lines will no doubt become a cornerstone of the industry’s development in the years to come. In this respect, the rate of change we are witnessing during the current pandemic is unprecedented as the world adapts to the “new normal. The nature of the business will continue to evolve rapidly,” he adds, “and one will be looking back at this time as a period of great transformation in the way we operate and do things. “As with any crisis, there are opportunities for growth in specific lines of business, such as health insurance, and life and pensions. We are also seeing increased opportunity for growth in our international business through our cells.” Now Matthew remains confident that Atlas’ decision to keep investing in its digital transformation will benefit the company in the coming years and ensure it retains its leading position when it comes to customer experience and innovation. “There is no doubt that uncertainty lies ahead and it is difficult to predict what might happen next,” he says. “But, having seen how Atlas managed to overcome the challenges of 2020, I would like to see the company in an even stronger position to support our staff and to serve our customers under any eventualities at the end of 2021.” 113

Quick-fire Questions… with Matthew von Brockdorff What is your morning routine? Up at 6am, feed the dogs, have breakfast and catch up on the news. Did you have a hero when you were younger? Mahatma Gandhi. Do you have one now? Bill Gates for his NGO and charity initiatives. Where did you work from during lockdown? Home. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Microsoft Office 365. What’s your top tip for productivity? Plan your day using lists and prioritise what happens next. If I gave you a magic wand, what would you do with it? Assuming it could only be used twice, deploy the COVID-19 vaccine worldwide immediately but, more ambitiously, reverse global warming. What’s your favourite time of day? The morning. What entertained you most during lockdown? Family time. Does your life today look different to 2019? Yes, due to increased responsibility as Atlas CEO and the lack of travelling and socialising. Does your business today look different to 2019? While our objectives and initiatives have evolved, clearly, the pandemic has created a challenging new environment. Is success built on hard work or luck? Hard work combined with luck. What’s your top tip for running a business in Malta? Innovation and staff engagement. What do you hope the world achieves in 2021? A clear solution to sort out the mess it is in! What’s next for you? Making sure that Atlas continues to be resilient during and after the crisis.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “It takes a lifetime to build a good reputation, and seconds to destroy it – this is a way of thinking that we’ve embedded in ourselves and the staff.” 114

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Adriana Camilleri Vassallo

CEO, FRANCIS J VA S S A L L O & A S S O C I AT E S L T D

“ O U R S T R AT E G Y I S T O F O C U S O N W H AT W E D O B E S T A N D G R O W O U R B U S I N E S S L O C A L L Y A N D I N T E R N AT I O N A L L Y . ”

F O U N D E D I N M A L TA I N 1 9 9 8 , T H E F R A N C I S J V A S S A L L O & A S S O C I AT E S G R O U P ( FJ VA ) H A S G R O W N TO CO M P R I S E A T E A M O F O V E R 7 5 M U L T I - D I S C I P L I N A R Y P R O F E S S I O N A L S P R O V I D I N G C O R P O R AT E , TA X A N D F I N A N C I A L A D V I S O R Y S E R V I C E S T O I N T E R N AT I O N A L C O M P A N I E S , F A M I L Y O F F I C E S A N D P R I V AT E C L I E N T S . TA K I N G O V E R T H E R E I N S I N 2 0 1 9 , C E O A D R I A N A C A M I L L E R I V A S S A L L O I S D E T E R M I N E D TO S T E E R I T F O R WA R D TO WA R D S A S T R O N G F U T U R E .

“I was appointed CEO in 2019, and it couldn’t have been more of a challenging time, with the pandemic coming in shortly after,” reveals Adriana Camilleri Vassallo of her relatively new role within FJVA – a business she helped set up alongside her father, Francis J Vassallo, 22 years ago.

our ethical values, client satisfaction and relationship management,” she continues, and these have remained the company’s core values over the years since. “I believe that the relationship we’ve built with our clients has always been based on mutual honesty, transparency and ethics, and our strategy has always been to grow our core business over the years,” she adds – something the team has achieved, not necessarily by looking at quantity, but quality of clients.

“Our main goal was to create a company to provide tax and corporate services based on three principles: 115

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For us, it’s not just about increasing the bottom line and generating profits, it’s also about keeping our core values intact throughout the process.

Apart from this, the CEO affirms, FJVA has maintained a conservative approach to business over the years. “For us, it’s not just about increasing the bottom line and generating profit, it’s also about keeping our core values intact throughout the process.” Speaking of landmark career moments, Adriana insists on milestones she shares with the FJVA team as a whole, revealing that the majority of her career has been dedicated to building the company, and together with her father, taking it to a complement of over 75 staff. “The whole process has comprised of landmark moments throughout. We have also invested in an entity in Luxembourg – expanding outside of Malta,” she notes, adding that while they are no longer a family business strictly speaking, having since opened up to a number of partners, they still favour a close-knit family approach. As for Adriana’s role as CEO, her favourite aspect is motivating the staff to achieve the best results, as well as getting involved in every part of the business. “I’ve read that, as CEO, you have to wear a number of different hats. It’s true, and you need to juggle them. I love working with great talent, learning from people and building a fantastic workforce which is supportive of, and conducive to, the excellent work we want to deliver to our clients – I find that very exciting,” she adds. This doesn’t come without its challenges, particularly against the trying backdrop of the pandemic in 2020. “Our biggest challenge is being able to support 75 families and making sure that you’re there for each one of them,” Adriana explains, going on to point out that the financial services industry also has its own challenges. “We need to make sure that we are up to scratch with all our regulatory requirements; they are everchanging and becoming ever-more complex,” she notes. 116

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Another challenge is balancing business with personal life. “As a working mum, whatever your designation within the company, balance is never easy, although I think the support and patience of our family helps us achieve it as best we can,” Adriana says, and she promotes these values among the staff too. Highlighting the company’s introduction of half days on Fridays a few years ago, the CEO argues that restructuring the hours during the workday from Monday to Thursday helps give people additional personal time, which is in turn important to deliver and do a good job. “I delegate a lot and dedicate my weekends to the family. It is tough to do but having a good team who you can work with makes it a bit easier,” she says. Turning her attention to the financial services industry as a whole, the CEO reveals that the landscape has changed ‘drastically’ since FJVA started out. “The industry has really flourished over the years, however, in doing so, we have had a lot of regulatory scrutiny,” she says, pointing to numerous requirements for compliance and transparency which are welcome, but which also come at a cost which needs to be taken into consideration. “Since the compliance obligations are so dynamic and changing, it’s not always in sync with the clients’ expectations, and it requires educating the client to understand them. We are also not immune to the challenges which the credit institutions are facing, because what we do is also supported by them,” Adriana adds. And while 2020 certainly dealt an unexpected hand, the CEO maintains that the financial services industry hasn’t been impacted by the pandemic in the way that other industries have been. “We still have new client requests coming in, although they have perhaps slowed down. However, our existing clients are using the opportunity to invest, and these compensate for a reduction in new business,” she explains, revealing that the team at FJVA has worked to use 2020 to their advantage, taking the opportunity to look internally, consolidate and focus resources on ensuring that the company comes out stronger. “We have faced a bit of a slowdown in business but, for the sector, I think the pandemic has just accelerated the need for the further use of technology. In 2019, we had already spearheaded a whole IT infrastructure change and had put that in place before the pandemic, so we were one step ahead,” Adriana continues. Looking to the future, one of the CEO’s ambitions is for Malta’s advantages as a jurisdiction to be further emphasised. “In the past, Malta was seen to be attractive mostly due to the tax advantages of the jurisdiction, but I think this shouldn’t be the driving factor, because Malta has so much more to offer – tax should be an ancillary advantage”, she laments, pointing to other benefits like corporate flexibility. “We need to push Malta and the industry in this direction. Obviously, the regulatory and compliance aspects will continue to increase, and we need to embrace this rather than see it as a threat – it will allow the right business to come into the country, and that is an advantage for us.” Acknowledging that Malta’s reputation has taken a hit in recent years, the CEO concludes that, “as an industry, we need to come together to make sure that this perception changes. We cannot do this alone.” 117

Quick-fire Questions… with Adriana Camilleri Vassallo What is your morning routine? I like to read motivational material to get into the right mind frame for the day. Did you have a hero when you were younger? My grandmother. Do you have one now? I have two – my boys, Luca and Marcus. But I have to say that my father is my mentor. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most in your business? Zoom. What’s your top tip for productivity? Keep things simple. Complexity is the enemy of execution. If I gave you a magic wand, what would you do with it? Find a cure for cancer. What’s your favourite time of day? Bedtime with the kids, when I get to catch up on their favourite moments of the day. What entertained you most during lockdown? Watching Downton Abbey. Does your life today look different to 2019? Yes. No travelling and socialising has reduced but quality family time has increased. Does your business today look different to 2019? Yes, due to reinforced staff relationships. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Stay true to your core values. What do you hope the world achieves in 2021? Stability. What’s next for you? Pursuing an MBA.

MaltaCEOs 2021

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“My role is to ensure that I do not only create the structures and mechanisms for discussion but that I also have an effective decision-making process, because ultimately, the value of a company is the sum of the decisions it makes and executes.”

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David Curmi

CEO, MAPFRE MSV LIFE PLC

“ T H E I N S U R A N C E I N D U S T R Y I S E V O L V I N G AT A F A S T P A C E . ”

A T R U E V E T E R A N I N T H E I N S U R A N C E B U S I N E S S , DAV I D C U R M I B R I N G S H I S 4 0 Y E A R S ’ E X P E R I E N C E T O B E A R O N H I S R O L E A S C E O AT M A P F R E M S V L I F E . H I S V I S I O N I S TO K E E P D R I V I N G T H I S S U CC E S S F U L CO M PA N Y – T H E L A R G E S T P R O V I D E R O F L I F E P R O T E C T I O N , L O N G - T E R M S AV I N G S A N D R E T I R E M E N T P L A N N I N G I N M A L TA – E V E R F O R W A R D I N T O T H E F U T U R E .

in Malta, with a balance sheet in excess of €2.5 billion. Jointly owned by MAPFRE Middlesea plc and Bank of Valletta plc, the company also forms part of the MAPFRE Group of Spain.

“I hardly ever act alone,” says David Curmi, reflecting on his role as “one that provides clarity, direction, guidance and support to my team.” As CEO of MAPFRE MSV Life, David does not believe in making decisions alone – rather, he actively encourages those around him to challenge how he thinks to bring in diverse perspectives. “I like to invite disagreement as I think it’s healthy, and I enjoy having a mix of views and experiences,” he says.

Having worked in the insurance industry for over 40 years, David reveals that it is its sheer complexity that continues to attract him. “Insurance has evolved into a very complex business and I find that very stimulating,” he says. Crediting an “excellent management team” with helping him to resolve challenges, the CEO points to the current macro-economic and financial environment as one of the biggest challenges they face today. “I feel that the ‘low for long’ interest rate environment poses a serious risk to life insurance companies, by causing pressure on our solvency ratios and capital resources, and limiting our ability to be creative and innovative in our product offerings,” David laments, adding that the other big challenge is the technological change perpetuated by COVID-19.

His days are made up of short but effective meetings which allow him to engage with his team, customers, intermediaries and regulators. “I believe in an open and candid relationship with all our stakeholders,” he maintains, adding that by leading by example, he intends for MAPFRE MSV Life to be a conversational brand, “a company that discusses, listens and that is easily accessible to all.” Established in 1994, MAPFRE MSV Life has grown to become one of the largest financial services companies 119

New digital tools are providing ways for insurance companies to reposition themselves as relatable, personal and conversational brands, and we want to be the first to do this in the Maltese market.

unit-linked products and, more recently, we were also the first in Malta to launch insurance-based personal and occupational pension schemes,” he says. And the secret to their success? Focusing on solutions rather than products, according to the CEO. “We always change the conversation from price to service. What is most important to us is the customer experience.” Despite this, the business, as well as the insurance industry as a whole, have not been spared the turbulence and disruption of the COVID-19 crisis. “We are in the risk business, but the COVID-19 crisis was not foreseen by anyone,” David says, describing the crisis in insurance terms as a high impact exceptional adverse situation. “We’re not talking about the 2008 financial crisis, we’re talking of a much more severe crisis – one that hit insurance companies very badly, particularly life companies due to their long-term liabilities and guarantees,” he adds.

Indeed, change has been significant within the industry in recent years, the CEO reveals – most of which has been driven by regulatory changes. “The industry is also evolving at a fast pace in the wake of challenges and opportunities brought about by changing customer behaviours and consumption habits,” David continues, adding that the company strives to keep up with the pace of change in customers’ expectations.

And while no one was handed an instruction manual on how to deal with this unprecedented situation, the team’s focus instantly shifted to two priorities. “Our first priority was protecting the physical health of our people – we are a people’s business, and without people, we can no longer run the business. The second priority was to protect the financial health of our company,” the CEO affirms, explaining that companies like MAPFRE MSV Life, that hold very large investment portfolios, are highly exposed to market risk, and were heavily impacted by the market meltdown towards the end of March.

In fact, the CEO notes, MAPFRE MSV Life has historically led the life insurance market in Malta. “We were the pioneers in introducing Bancassurance in Malta; we were the first Maltese insurance company to launch

“A crisis is when it is most important for leaders to uphold a vital aspect of their role: making a positive difference in people’s lives,” David says of his experience during this difficult time, and despite

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being concerned about what was going on, he viewed his role as one that needed to inspire, galvanise and show empathy and compassion. “In the circumstances it was also necessary that I make decisions amid uncertainty, and also empower others to make their own decisions and communicate effectively and frequently,” he reveals. The situation also led the company to further encourage flexible working and modern employment practices, and at some points in 2020, this meant that over 90 per cent of MAPFRE MSV Life employees were working from home. But this wasn’t the only change brought about by COVID-19, David says, adding that the company also saw changes in customer behaviour, with more customers interacting with them digitally. Indeed, the CEO believes that a crisis such as this one can present both danger and opportunity, and while the pandemic has been a dreadful experience for the global economy, and tragic for those who have lost loved ones, it has required companies to change and innovate at a much faster pace – a consequence he deems positive. “The pandemic has accelerated the speed with which our company has acted on innovations that we had been talking about for some time,” he says. Looking to the future of the industry, David expects to see greater supervisory scrutiny as more regulations are expected to directly affect the life insurance sector. “The heavy agenda of regulatory change is likely to result in higher costs and distraction that could lead to damaging effects in areas such as product availability and consumer choice,” he maintains, noting a particular concern as IFRS 17, a new worldwide reporting standard which requires insurance companies to use a current discount rate to value liabilities. “Our indications are that compliance with this new reporting standard will require a major financial investment,” the CEO notes. As for MAPFRE MSV Life’s plans moving forward, David reveals that in the coming years, the focus will be on profitability rather than growth, and on the proper generation of capital and its disciplined allocation and appropriation. Affirming that growth should be profitable and sustainable, the CEO goes on to highlight the company’s continued investment in information technology and innovation. “In 2019, we initiated the replacement of our core life administration system. To this end, we selected Sapiens CoreSuite – a leading global provider of cutting-edge software solutions for the insurance industry – for our core and digital transformation project,” he explains, revealing that the first phase of implementation was completed after just 15 months, despite the interruption of the pandemic. “This first phase will consolidate our protection business onto a single administration platform, whilst the next phase will consolidate our savings, investments and pension business offering,” he adds. Looking ahead, David also lists digital transformation as one of the company’s key strategic objectives and says that, despite the disruption caused by COVID-19, in 2020, more than 60 per cent of applications for life insurance received by MAPFRE MSV Life, were underwritten digitally without human intervention. “New digital tools are providing ways for insurance companies to reposition themselves as relatable, personal and conversational brands, and we want to be the first to do this in the Maltese market,” he concludes. 121

Quick-fire Questions… with David Curmi What is your morning routine? I am an early riser. Coffee, music and discussing the day ahead with my partner is my normal morning routine. Did you have a hero when you were younger? My father. Do you have one now? Still my father. Where did you work from during lockdown? Home. Zoom calls or in-person meetings? I prefer Microsoft Teams. What tool (online or otherwise) do you use most in your business? Now definitely Microsoft Teams. What’s your top tip for productivity? Set goals on a daily basis. If I gave you a magic wand, what would you do with it? I would get rid of this virus so that we can return to some sort of normality. What’s your favourite time of day? When I return home in the evening after a day’s work. What entertained you most during lockdown? Music and long walks with my partner. Does your life today look different to 2019? In many ways it is simpler and calmer. Does your business today look different to 2019? We are now constantly doing things we previously thought could not be done. Is success built on hard work or luck? The only place where success comes before work is in the dictionary. What’s your top tip for running a business in Malta? Preserve and protect your reputation and integrity at all times. What do you hope the world achieves in 2021? Some form of return to normality, although we haven’t had that for a long time. What’s next for you? A very long bucket list.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Christopher Busuttil Delbridge

CEO, EVOLVE

“ T H E R E A R E B I G O P P O R T U N I T I E S O N T H E W O R L D S TA G E , AND WE SHOULD HELP EACH OTHER.”

H A V I N G B U I L T E V O L V E L T D W I T H I N T H E AT TA R D & C O G R O U P F R O M S C R AT C H , T R A N S F O R M I N G I T I N T O M A L TA ’ S F A S T E S T - G R O W I N G S C I E N C E CO M PA N Y , C H R I S TO P H E R B U S U T T I L D E L B R I DG E H A S B I G PLANS FOR ITS CONTINUED GROWTH, BOTH LOCALLY AND OVERSEAS.

Describing himself as a ‘kite’, Christopher Busuttil Delbridge uses an interesting analogy to define his role as CEO of Evolve, explaining that, “I see things from a distance, and the people in my team hold me grounded and actually make the things happen.”

his goal has remained unchanged since the outset: “to do the best I could, in whatever task.” As ‘Malta’s fastest-growing science company’, the CEO explains that dealing with people and building relationships is integral to Evolve’s success. Describing himself as a people person, Chris relishes seeing untapped potential and bringing it to the fore. “I love helping customers make their dreams come true and be successful in their line of work, and enjoy building long-lasting relationships with

Having built Evolve Ltd within the Attard & Co Group from scratch, offering services such as designing, equipping, and maintaining scientific workspaces and training industry professionals, Chris says that 122

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CEO INSIGHT “I care more about relationships than about outcomes. To me, it’s more about a customer or stakeholder being happy than it is about making a profit.” 123

Evolve has its own personality and its own requirements – in fact, during meetings, I famously leave an empty seat for ‘Evolve’.

suppliers, both locally and internationally,” he says, admitting that managing people, along with their requirements and agendas, can also be tiring. Describing what differentiates Evolve from other laboratory services providers, Chris says that “Evolve has its own personality and its own requirements – in fact, during meetings, I famously leave an empty seat for ‘Evolve’. I tell my colleagues that this is Evolve, and we all work for Evolve.” Noting that a company’s growth is measured in stages, the CEO believes that Evolve’s biggest milestones centre on introducing new technologies, such as molecular biology, to the market. “We have helped to establish the pharmaceutical industry in Malta, taking it from one company to 15 companies today. We were there at the forefront, upping our game to match the expectations and requirements of this new regulated industry,” he affirms, noting that this is also Evolve’s focus when it comes to the medical cannabis sector, supporting Government’s vision and the investors to make this a reality. “In fact, Evolve designed and built the only EU GMPcertified medical cannabis processing facility in Malta,” Chris continues. Despite these milestones, the CEO highlights two achievements of which he is proudest. The first is refining the company culture through a year of training and workshops on positive psychology, leadership, communication and mindfulness, through which “we defined what our BHAG (Big

Hairy Audacious Goal) is, and what became our vision: to be an internationally-recognised, award-winning thought leader in the scientific and healthcare markets. This is something that inspires us every day because we, as a team, came up with it,” he says, going on to list the company’s core values. “Our values do not describe what we want to achieve, but how we make all our decisions. They are a testament to who we are and act as a template for us in times of doubt, and for all those who will come after us, if we want to keep what Evolve represents to our customers and stakeholders,” Chris maintains, revealing the anagram ‘PRIDE’, which stands for Positivity, Respect, Integrity, Dedication and Exceeding Expectations. The second milestone the CEO is proudest of is when the company managed to break through internationally, becoming the first company in the world to design and build an EUstandard laboratory in West Africa. “Nowadays we consider ourselves a local and international company, and we already have a number of prestigious projects abroad,” he states. 125

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Yet while Chris admits that 2020 wasn’t quite the year the company projected, “people didn’t stop dreaming”. Naming the main differences as courage and caution, the CEO admits that while the numbers weren’t what they were in previous years, the opportunities remained, and projects were shifted by 10 months to a year. “It affected us primarily when it comes to timeliness,” he notes, pointing to several orders in Ghana which should have been completed in 2020, but had to be put on hold. Speaking of the business’ evolution during this important time, Chris highlights the unique opportunity to market products to a wider audience. “Operating in such a niche market, you have a very limited number of customers locally. So, for the first time ever, COVID-related products opened a door which we had never knocked on before – the B2C market,” he says. This coincided with an emphasis on marketing – another new avenue for Evolve. “We rebranded and launched our new website in November 2019, and started populating it in early 2020,” the CEO explains, adding that an external company was also engaged to help with marketing throughout the pandemic. “It had a huge impact on how people perceive us, and it’s been a great experience,” he continues. Describing the biggest opportunity to come out of the COVID-19 scenario as “introspection”, Chris says that Evolve has also embarked on a business process re-engineering exercise to prepare for its next phase of growth post-COVID. “I have personally taken Evolve into an active role within The Malta Chamber and we have created what is known as the Quality Committee,” he says, which is working towards influencing and creating an agenda for quality

and changing the mindset of people, companies and, hopefully, administration. Apart from this, Chris has also been involved in the creation of a new business section for medical cannabis within The Chamber, working on being more active on a national level, in line with Evolve’s vision of becoming a thought leader. The situation with COVID-19 also precipitated a mentality shift, according to the CEO, who goes on to emphasise the importance of collaboration. “What got us here won’t get us further. It’s been good, but we now need to unite our strengths to be more successful and competitive, especially in international markets,” he maintains, On a company level, the CEO notes that Evolve has moved away from being an importer to being a solution provider. “We used to sell products, now we do projects. To us, that also means that we have to change our mindset as employees of Evolve, and bring in additional skill sets which we require,” he affirms, adding that the company’s biggest challenge for 2021 is making sure that the leadership team in particular is aligned with the needs and requirements of the company. “There is so much more to be done, and we are our greatest critics,” Chris says, highlighting his wish for Evolve to be recognised as a key contributor in industry in Malta. Apart from that, his gaze remains fixed on further internationalisation, and in order to succeed, he’d like nothing more than to see the mentality of businesses in Malta shift to one of collaboration. “The word is co-ompetition: to collaborate or cooperate with your competition. We may compete in Malta, but on the world stage there are such big opportunities, and we should help each other.” 126

Quick-fire Questions… with Christopher Busuttil Delbridge What is the most important part of your morning routine? Giving my wife a kiss. Did you have a hero when you were younger? My dad. Do you have one now? I wouldn’t say so. Where did you work from during lockdown? Mostly from the office. Zoom calls or in-person meetings? In-person! What tool (online or otherwise) do you use most in your business? My mobile. What’s your top tip for productivity? Know and map out your energy patterns throughout the day and assign tasks accordingly. If I gave you a magic wand, what would you do with it? Remove greed. What’s your favourite time of day? Late afternoon. What entertained you most during lockdown? My philanthropic work with the Equestrian Order of the Holy Sepulchre of Jerusalem. Does your life today look different to 2019? It’s unrecognisable. I’d be out and about every day and travelling 12 times a year. Does your business today look different to 2019? Yes, our ambitions and the company’s needs are bigger and clearer. Is success built on hard work or luck? The harder you work the luckier you become! What’s your top tip for running a business in Malta? It’s more who you know than what you know. What do you hope the world achieves in 2021? Unity. What’s next for you? More international work.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “Success comes from working towards a common vision that leads you along a commonly agreed and approved strategic path. It’s critical to give trust and commitment to your team, and to receive it in return. I always knew my people were good but I was so impressed by their work throughout the COVID-19 period and now trust them more than ever.” 128

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Vasileios Kasiotakis

C E O , M A L TCO LOTTERIES

“ 2 0 2 0 WA S A L L A B O U T B R I N G I N G M A L TCO ’ S T H R I L L I N G GAMING EXPERIENCE ONLINE.”

W I T H M O R E T H A N 2 0 0 S H O P S , 7 5 0 T E A M M E M B E R S A N D A S E V E N - DAY - P E R W E E K O P E R AT I O N , M A L T C O L O T T E R I E S I S B O T H T H E I S L A N D ’ S N AT I O N A L L O T T E R Y O P E R AT O R A N D A T O P H O U S E H O L D B R A N D . C E O V A S I L E I O S K A S I O TA K I S H A S L E D T H E C O M P A N Y S I N C E 2 0 1 1 A N D S P E A R H E A D E D M A N Y O F I T S M O S T I M P O R TA N T D E V E L O P M E N T S , I N C L U D I N G T H E L A U N C H O F I T S L O N G - A W A I T E D O N L I N E P L AT F O R M I L O T T E R Y I N O C T O B E R L A S T Y E A R .

Innovation has long been critical to Maltco CEO Vasileios Kasiotakis’ approach to leading one of Malta’s most impactful entertainment companies. But he doesn’t work alone and takes a clean-cut approach to leading his substantial team. “I love to train people and facilitate them to achieve their personal targets,” he says with a smile. “I guide my people to excel – both at company level and personally. It’s important to live and let live.”

multinational firms including Unilever, Nestlé and INTRALOT. “I gained hands-on knowledge of retail, sales, marketing, innovation and business strategy, and operations, while working across Europe, Africa, Asia, and Latin America,” he explains. “It really strengthened my understanding of global operations, and it has influenced my time and vision at Maltco Lotteries.” After all, Maltco has long been a trailblazer in its sector, having been awarded an exclusive licence to operate all national lottery games in 2004. Since then, the company has developed an unmatched retail network (the largest on the island), and has launched numerous games over and above its original portfolio

It’s an ethos he has used throughout his time with Maltco – a company he joined in 2011. He brought vast expertise to the role thanks to his Master’s Degree in Marketing followed by 20 years’ experience at top

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This year digital will grow at double the speed, while retail will sustain itself and grow in terms of image and service. 2021 will be marked by a major drive towards customer care and the upgrading of our facilities.

of SUPER 5 and the LOTTO. “I remember preparing and introducing the UBET sports betting games back in 2004 and 2005 as INTRALOT Marketing Director,” the CEO continues. “It was fantastic to bring a new range of activities to our players and to provide fresh opportunities to our Maltco agents. And we didn’t stop there, later introducing Quick Keno, Bingo 75, Fast Bingo, Quaterno+, Horse Racing and Ambo on SUPER 5 with INTRALOT’s Systems.” However, despite this high-end and consistent roll-out of games and entertainment, nothing could have prepared Vasileios for the changes 2020 would bring, when all of Maltco’s outlets would be shut due to COVID-19. Thankfully, the company’s digitalisation plan had already been conceptualised and the team opted to bring its implementation forward by a couple of years. “Aside from concerns about our own activities, we were also very worried about our agents, whose livelihood was at stake when their shops had to shut their doors. So, aside from working with the Government to secure the COVID-19 grant for this sector, we also launched our games online over the INTRALOT Lotos Xi platform and gave our agents the opportunity to earn commission that way.” 131

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Thus, it was a big day for Maltco when, in October, a number of its games launched online over Lotos Xi, including SUPER 5, LOTTO, Quaterno+, SUPERSTAR and Quick Keno under the iLottery umbrella. “We now see it as an extension of our existing retail channels,” Vasileios continues. “It’s all about bringing Maltco’s thrilling gaming experience online, and curating an ever-changing mix of cutting-edge games based on responsible gaming principles. The result has been very exciting, and the platform offers players a state-of-the-art, intuitive digital gaming experience that provides full access to the island’s favourite draw number games. Beyond that, the commission system we introduced for our agents is absolutely unique in the world and we are very proud of it.” There’s no doubt about the challenges that 2020 brought, but there were many high points for Vasileios, who says he was obliged to become ‘captain’ of the ship when the pandemic hit. “I led the way and was an innovator, but I couldn’t have done it without my team. Everyone brought brilliant new ideas to the table, while I was the one taking the reins and steering the ship. I believe I was able to bring it into a safe and stable port,” he says. Impressively, he was also able to manage all this while working from home in his native Greece. “All of our people switched into work-from-home mode,” he continues. “And I think they thrived under this new system. Everyone will keep working from home until at least the first quarter of 2021, and then we’ll reassess after that. Meanwhile, from a personal perspective, my return to Greece turned out to be the catalyst for me to then relocate my family to Malta. We all moved back here a few months ago and it has been so positive for our way of life.” In fact, the CEO notes that many prospects have been created by what’s come to light in the past 12 months – not least the endless opportunities created by the online world. “Work that would normally take two-to-three years to complete was achieved in six months,” he enthuses. “Now that we have experienced that stride forward, we won’t hold back, and there is going to be a lot of new development required to meet our players’ need for entertainment. Thus, digital will grow at double the speed, while retail will sustain itself and grow in terms of image and service. 2021 will be marked by a major drive towards customer care and the upgrading of our facilities. We plan to invest heavily in training for more and more of our employees, and to increase the number of people working for us, both in retail and online. Responsible gaming will, of course, also be key and another one of our major development areas.” So with excitement in the air about the opportunities ripe for Maltco to take on, and a clear path for digitalisation and expansion in place, Vasileios is looking forward to 2021. “Maltco is an organisation that belongs to the Maltese, cares for the Maltese, and drives the Maltese to enjoy responsible entertainment. Helping to develop that more and more is what gets me out of bed every morning, and it’s something I know will propel us even further in the months and years to come,” the CEO concludes. 132

Quick-fire Questions… with Vasileios Kasiotakis What is your morning routine? I watch sunrise with a coffee. I do some strategic planning at 5.30am, spend time with the family at 7.30am, and then start work. Did you have a hero when you were younger? My father. Do you have one now? No. Where did you work from during lockdown? At home in Athens. Zoom calls or in-person meetings? Microsoft Teams calls. What tool (online or otherwise) do you use most in your business? Outlook, SMS and Microsoft Teams. What’s your top tip for productivity? Don’t look at the clock. If I gave you a magic wand, what would you do with it? Create many entertaining events, for people to dance and enjoy together. What’s your favourite time of day? 6.30-7.30am – planning time. What entertained you most during lockdown? Being with my family, and cycling around our home. Does your life today look different to 2019? Yes, I now live with my family again and I work from home. Does your business today look different to 2019? Yes, it’s more exciting, faster paced, and more rewarding in terms of quick results and success in implementation. Is success built on hard work or luck? Hard work and a lot of luck. What’s your top tip for running a business in Malta? Accept that it’s a tough market with endless work. What do you hope the world achieves in 2021? Peace of mind and health. What’s next for you? Company growth and increased friendship with my teammates.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Michael Bonello

CEO, ALLIANCE GROUP

“ E A R L Y O N , I R E A L I S E D T H AT T H E O N L Y W A Y T O G R O W S U S TA I N A B L Y I S T O S H A R E M Y S U C C E S S W I T H O T H E R S , E V E N I F T H AT M E A N T E A R N I N G L E S S F O R M Y S E L F I N T H E SHORT TERM.”

L A U N C H E D I N 2 0 2 0 , A L L I A N C E G R O U P I S A N E W R E A L E S TAT E B R A N D B U I L T ON A LEGACY OF MORE THAN 15 YEARS, A TEAM OF 175 PROFESSIONALS AND A N E T W O R K O F B R A N C H E S I N V A R I O U S L O C AT I O N S . M I C H A E L B O N E L L O , I T S CEO, IS CLEAR IN HIS VISION OF SEEING ALLIANCE BECOME THE LEADING R E A L E S TAT E C O M P A N Y I N T H E I N D U S T R Y , W H I L E C O N T I N U I N G T O I N V E S T A M B I T I O U S L Y I N T H E C O N S TA N T T R A I N I N G R E Q U I R E D T O P R O V I D E S E R V I C E S T H AT S AT I S F Y H I S C L I E N T S AT E V E R Y T O U C H P O I N T.

Michael Bonello’s initial attraction to the real estate industry was borne of necessity. Following a change in his family’s circumstances, he took charge of selling his mother’s house in Sliema and, having met with several estate agents and developers in the process, immediately identified a business opportunity which he seized in 2006. His former training within the hospitality industry had also instilled in him the importance of quality service, which he still values and applies to this day.

to it by now, joking: “you know what they say about time flying when you’re having fun.”

Today, as CEO of Alliance, Michael’s role is very much that of managing the different aspects of the business with the people that run the day-to-day operations across the network. His day starts early and ends late, but he’s used

His love for his work has led to several major landmark moments throughout his career, most notably the launch of the Alliance brand during COVID-19. “After years of planning, months of preparation and several weeks of

Michael, a self-proclaimed people person and networker, says one constant challenge he faces is maintaining a healthy work-life balance and, for someone whose biggest passion remains his family and especially his growing children, this can only be achieved by making sure he blocks out calendar slots for them.

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CEO INSIGHT “Considering some of the worst-case stories we hear from around the world, I’m somewhat pleasantly surprised that, in Malta, we have generally remained together through it all. For many, 2020 was almost business as usual.” 135

Our results in these past few months are very encouraging and they fuel our determination to be the best we can be to serve our market.

lockdown, having made it far enough to launch the brand with my team fills me with pride and a sense of satisfaction that’s hard to top,” he states. The network is managed by Michael as Founder and CEO, together with his founding Partners, Paul Sammut, Gordon Valentino, Angelo D’Arrigo, Mario Gauci, Aidan Xuereb, Fabien Debono, Jay Jay Micallef, Brian Magri, Dylan Micallef and Francois Spagnol; all of whom possess unparalleled experience within the real estate industry. The executive and management teams, in turn, work hand in hand with the company’s large team of property advisors. The Alliance corporate structure is supported with the very latest business tools used by a team of professionals, all experts in their fields. This Alliance Executive Team includes Corporate Business Advisor Ivan Bartolo, Chief Operations Officer Gordon Attard, Chief Financial Officer Leslie Xerri, Chief People Officer Frank Borg and Chief Marketing Officer Pierre Mizzi. A top management team that includes George Tabone, Jeremy Borg Grech, Raphael Degabriele, Ana-Marija Zafirovska, Nicky Sammut and James Mallia, oversees the running of the branches. At this initial stage, Alliance operates from branches in Tigné Sliema, Gzira, Pieta, Swieqi, St Julian’s, San Gwann, Santa Venera and Mosta, as well as online; with more growth forecast for the near future. “We value the vast experience, diversity and personal contacts of each and every one of our advisors,” Michael says, before explaining that the Alliance tagline ‘Real Estate People’ is much more than just a saying for him, as everything he does revolves around his team. This is why Michael and Alliance are investing heavily in across the board training, within the Alliance Academy. Malta’s property market is undergoing significant and rapid changes, he continues, and corporate agility is a must. This agility was clearly demonstrated in Michael and his partners’ move to break away from forming part of an international franchise and to forge an independent way forward. “My business partners and I took the bold decision

to lean forward and immediately embraced the need to become far nimbler, as it’s very hard to be agile in a multi-layered structure such as that of an international franchise.” Now, as an independent brand, Alliance is better positioned to convert the challenges ahead into opportunities and the team is now constantly in the process of realigning their business strategy to address new business realities. “Our results in these past few months are very encouraging and they fuel our determination to be the best we can be to serve our market,” he says. What was also encouraging was the way property sales fared in 2020 in spite of COVID-19, according to the data published by the Malta Developers Association, which saw 2020 become a record year. This success can be attributed directly or indirectly to Government incentives, according to Michael, however he adds that it also shows that the property market is largely based on local consumption, as these record results were reached without much activity from international buyers. Nevertheless, Alliance did face some challenges during this period, and Michael’s strategy was to think outside the box and adapt rapidly to overcome them. “The biggest change was on the channels of communication,” he says, and the team held regular Zoom sessions to maintain the usual working environment and motivate one another at both management and property advisor levels. 136

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On the other hand, launching a new brand in the midst of the pandemic put them in the ideal position to build-in certain features that would improve their sustainability and give them more resilience in the longer term. One example of this is their property 3D walkthrough videos, along with good-quality photography, which facilitated remote viewings and proved to be a great timesaver for buyers, sellers and agents. Remote working for their property advisors was another area that they implemented from the start, especially for people with underlying conditions. This also changed the way some home viewings and meetings were conducted. One silver lining that came out of COVID-19, according to Michael, who speaks about the matter with the most respectable sensitivity, is the fact that it created an opportunity for the agency to find more recruits from badly affected service sectors, such as hospitality, catering and retail, to join their training programme and start working as property advisors. Michael says that Alliance has already welcomed more than 40 people who succeeded in reinventing themselves, after having been given extensive training at the Alliance Academy. Moving forward, during the recovery stage in 2021, he believes that the property market will eventually revert back to a buyers’ market, while both sales and rental prices will adjust naturally to stable levels. The foreign buyers’ market may take more time to recover, but one advantage is that, due to Malta’s small size, the economy could recover earlier than others, giving us an added competitive advantage, he foresees. With regards to development and his hopes for sustainability in 2021 and beyond, Michael explains that, over the past few years, there has been a major push towards new regulations and increased compliance costs to promote more sustainability and environmental consciousness, although there is much more that still needs to be done. However, he notes that from a geographical and social standpoint Malta is what it is, and this cannot be changed. “If we are to return to the trajectory we were on before COVID-19, with so many international people coming here for work and the population growth we had, then controlled land reclamation and high-rise buildings are the future for Malta to compete with other countries in terms of quality and life amenities, including an overall greener Malta,” he asserts. Nevertheless, on a micro level, the main opportunity for Alliance moving forward remains that of sustainable growth, along with coming up with innovative ways of selling their properties, such as ‘Alliance Selected’ – their flagship product launched in August. Alliance Selected properties are more accurately appraised by professionals, much better presented with higher-quality photography, 3D walkthroughs and videos, and then persuasively promoted for the period they are listed exclusively with Alliance, Michael explains. 2021 will also be the year that sees estate agent licences become mandatory, something Michael says his property advisors are looking forward to. “This opportunity for regulation is expected to elevate the quality of service of our industry and strengthen brands like ours that value human resources training and support,” he says. Michael concludes by reiterating his earlier objective: Alliance becoming the recognised market leader in the field. “I am very confident that my entire team is highly motivated to achieve this, and making that happen will be our main drive,” he concludes. 137

Quick-fire Questions… with Michael Bonello What is your morning routine? I first catch up on news and the messages of the morning, then have my daily training session. Did you have a hero when you were younger? No, not really. Do you have one now? Ironman. Where did you work from during lockdown? I worked from home but also visited the office almost every day. Zoom calls or in-person meetings? In-person meetings, definitely. What tool (online or otherwise) do you use most in your business? After calendar and email, our property database. What’s your top tip for productivity? Stay positive and push yourself harder. If I gave you a magic wand, what would you do with it? End poverty. What’s your favourite time of day? Early morning. What entertained you most during lockdown? My children on TikTok. Does your life today look different to 2019? Why? This year I am much more in control of my destiny and the well-being of my team. Does your business today look different to 2019? It is very different under the new Alliance brand. Is success built on hard work or luck? 90 per cent hard work and 10 per cent luck. What’s your top tip for running a business in Malta? Reputation is key. Be good and good things will happen. What do you hope the world achieves in 2021? Eradicate COVID-19 and make sure we don’t get COVID-20. What’s next for you? Consolidation and growth, mergers and acquisitions.

MaltaCEOs 2021

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“Whether you work for a large organisation or a small one, you can’t do everything on your own. You have to create an environment where people feel they can take their own decisions for the greater good; they are empowered, have opportunities for growth, and know that mistakes aren’t a negative but an opportunity to learn.”

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Nikhil Patil

CEO, GO PLC

“ W E A R E D R I V I N G A D I G I TA L M A L TA T H AT L E A V E S N O O N E B E H I N D . ”

A S H E P R E P A R E S T O B E G I N H I S T H I R D Y E A R A S C E O O F M A L TA ’ S B I G G E S T N A M E I N T E L E C O M M U N I C AT I O N S , N I K H I L P AT I L I S PUTTING MORE FOCUS THAN EVER ON BUILDING AN ENVIRONMENT WHERE HIS WHOLE TEAM CAN GROW AND THRIVE. THIS YEAR NIKHIL WILL ALSO BE FOCUSED ON MAKING GO MORE CONNECTED T H A N E V E R T H A N K S TO I T S M U L T I - M I L L I O N - E U R O I N V E S T M E N T S I N I T S I N T E R N AT I O N A L I N F R A S T R U C T U R E .

GO CEO Nikhil Patil joins our interview from his home office in the UK. That’s where he spent most of lockdown, while effectively leading his Maltabased team and keeping Malta as connected as possible.

by the opportunities created by COVID-19. “It provided us with the impetus to rediscover our purpose,” he continues. “We were able to ask: why does GO exist? What are our values? And what does all that mean for us as a team? Group-wide we embarked on an exercise to really understand our role in society.”

Throughout this time, Nikhil never veered from his CEO ethos: to create an environment that unlocks the potential of everyone around him. “I see myself as driving a culture where other people can thrive,” he says.

After months of work in this vein, the CEO says it became clear that GO’s purpose is to drive a digital Malta where no one is left behind. Now Nikhil and his team want to enable their clients to participate in the digital economy as much as possible. “I am really enjoying working together

Nikhil – while understanding of the challenges posed to so many organisations – was enthused

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to unlock the digital potential for Malta,” he continues. “So, besides my usual day job, 2020 has definitely been all about purpose and values.” Going into further detail about how he created a work culture that best unlocks potential, Nikhil explains that GO has three resolute values: to obsess over its customers, to act like owners, and to be one team. “I was pleased with how things were able to keep moving when the pandemic struck, because we had already done a lot of the background work needed for the operation to carry on remotely. We are used to trusting each other to make the right decision as a wider team, so this wasn’t a challenge. COVID-19 has really been an extension of the culture we had already created – one of empowerment.” Still, there is no denying that 2020 wasn’t quite the year that Nikhil had planned. He says that the circumstances around the pandemic challenged every assumption that the company had made about how to serve customers and interact with people. “It wasn’t a gradual shift that we had to make but a binary one; we had to figure out a completely new way of living. I have to admit that I saw this coming slightly ahead of the curve,

We’re now ‘remote first’ - we reduced the number of desks, introduced digital desk booking systems and limited the number of days that employees could work from the office to three days per week. We are set up for COVID-19 but know that everything we do today will serve us long after the pandemic is over.

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though, when I was in touch with friends in China. It meant we could prepare ourselves a little earlier.” The CEO explains that ‘stopping or slowing operations’ simply wasn’t an option for GO because so many people rely on the company for their connectivity to critical aspects of their lives – from business functionality to chatting with friends and family. “We had to become a digital company very quickly, and began sending things to our clients rather than having our technical staff visit them in person. Getting all that organised was a challenge at the start, but I know it will serve us long-term. We’re now ‘remote first’ - we reduced the number of desks, introduced digital desk booking systems and limited the number of days that employees could work from the office to three days per week. We are set up for COVID-19 but know that everything we do today will serve us long after the pandemic is over.” Similarly, Nikhil says many of the changes made have allowed the telecommunication giant’s customers to pivot at this time. “Previously, a lot of them weren’t fully reliant on working digitally or in the digital world, and I think that’s changed too. This year we have been able to support our customers on this journey to transform their working habits, and that will also benefit them into the future.”

Quick-fire Questions… with Nikhil Patil What is your morning routine? Five minutes of some kind of exercise and a cortado coffee from my favourite café, regardless of whether I am in the UK or Malta. Did you have a hero when you were younger? My mother – she made every challenge optimistic and raised us with positivity. Do you have one now? It hasn’t changed. Where did you work from during lockdown? My office in London and GO HQ. Zoom calls or in-person meetings? It greatly depends on the nature of the call. In-person can be hard to replace early on in a relationship. What tool (online or otherwise) do you use most in your business? Microsoft Teams and Office 365. What’s your top tip for productivity? Zero your inbox every day.

With this in mind, he believes Malta has a lot of potential in this area, as digitalisation will help the island to play more effectively on the world stage. “From our perspective, we haven’t only focused on improving digital infrastructure but on increasing digital education and creating digital jobs too. We kept rolling out TrueFibre, investing in start-ups through GO Ventures and improving connectivity to mainland Europe by building Malta’s first cable to France.”

If I gave you a magic wand, what would you do with it? I’d give people the power to reverse climate change. What’s your favourite time of day? Early morning before the world wakes up. What entertained you most during lockdown? My Peloton bike.

Looking back for a moment, the CEO says 2020 certainly highlighted the importance of connectivity in ways many could never have imagined. “It posed the question of how we can best use data to benefit human life going forward. For instance, how can we use it to change human health, or to make the environment greener? In the future we will increasingly see telecoms companies playing an important role in sectors like AI and the IoT. “As for GO, we will doubtlessly focus most on ensuring everyone is brought along on this exciting digital journey. To achieve this, we will be investing in the best infrastructure and the best education. In the next 12 months I see us walking the talk as a company that is even more digital, while meandering the path of living our purpose and acting on our values,” Nikhil concludes. 141

Does your life today look different to 2019? I got to spend a lot more time with my family and feel very blessed about that. Does your business today look different to 2019? The business feels even more energised and connected. Is success built on hard work or luck? Most successes require both. What’s your top tip for running a business in Malta? Surround yourself with people better than you in some aspects, and create an environment where they can thrive. What do you hope the world achieves in 2021? I hope it moves more towards the centre. What’s next for you? Becoming fluent in Maltese. That was a major COVID-19 project for me.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Kevin Rapinett

CEO, HALMANN VELLA

“ T H E PA N D E M I C H AS C A L L E D F O R S T R O N G B U S I N E S S L E A D E R S H I P , U N WAV E R I N G CO N S I S T E N C Y , A N D E X C E L L E N T C O M M U N I C AT I O N . ”

F R O M A T I N Y O P E R AT I O N I N M G A R R , T O A G A R A G E I N M O S TA , T O A S TAT E O F - T H E - A R T FAC TO R Y A N D S H O W R OO M I N L I JA , H A L M A N N V E L L A I S O N E O F M A L TA ’ S M O S T S U C C E S S F U L M A N U F A C T U R E R S . I N M A R C H 2 0 2 0 , J U S T A S T H E P A N D E M I C S TA R T E D T O TA K E H O L D L O C A L L Y , K E V I N R A P I N E T T S T E P P E D I N TO H I S N E W R O L E A S C E O O F T H I S FA M I L Y - R U N CO M PA N Y AND HE HAS SINCE SET IN MOTION A STRONG VISION FOR ITS FUTURE.

The old adage that ‘a change is as good as a rest’ rings true for Hallman Vella CEO Kevin Rapinett, who joined the company at the start of 2020. In that moment, he took the helm of one of Malta’s strongest manufacturing brands; an organisation established in 1954 and which has since crafted an unparalleled portfolio of local and international projects, specialising in bespoke surfaces.

“I believe in building a corporate culture that’s very much based on sound ethical principles,” the CEO states. “People talk about reputation loosely, but the company’s reputation and standing are absolutely critical to me.” It’s an ethos that Kevin brings to the table from a long career with HSBC, a global organisation that he says taught him a lot. There his career was split into three areas: Treasury and Stockbroking, Risk, and Corporate Banking. “Through the different stages of my career, I worked closely with Malta’s top corporate companies, and a key aspect of my work was to build long-lasting relationships based on mutual trust and understanding,” he continues. “It was very defining, and I loved my time with the bank.”

As a relatively new member to this established team, Kevin’s immediate goal was to set and lead the long-term strategy of the Group for the benefit of its shareholders, employees, clients and wider stakeholders. He sees himself as a driver of positive change; setting the tone through his actions or inactions for the improvement and sustainability of the company going forward.

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CEO INSIGHT “I schedule my diary well in advance. My focus is on people with regular one-toones and coffee catch-ups with the team; strategy and stakeholder meetings regularly feature on my agenda as do visits to some of our ongoing projects. It’s important to keep up-todate with what’s happening in the diverse areas of the business and a very strict schedule enables me to succeed at that.”

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Kevin says he chose to change career and join Halmann Vella when the opportunity came knocking. “It felt like the right time to embrace a new challenge,” he confidently states. “And the transition has been very positive so far. There’s always more to learn, especially as this is a completely new sector for me, but the expertise, experience and professional background I have does lend itself very well.” For Kevin, leading his team is not about self-gain and he firmly believes in the philosophy of being a ‘man for others’. “That’s the integral formation of an Aloysian,” he smiles, thinking back on his education at St Aloysius College. “I am very fulfilled by this approach and it underlines that my purpose is to better the communities I form part of.” He relishes the fact that his role allows him to be involved in a variety of elements within the business, from decision-making and business dealings to overseeing the company’s many projects at their different stages of development. “Decision-making

isn’t easy, and I always consider the long-term benefits for the organisation and our people. That said, navigating the uncertainties of the current economic landscape does take significant time and energy,” he says. He goes into detail about what he thinks differentiates the companies that will last the distance in the next few years. “It will come down to resilience and perseverance,” he believes – and Halmann Vella is on track to achieve both. “COVID-19 created a crisis unlike anything we have anticipated or experienced,” the CEO continues. “It called for strong leadership, unwavering clarity and consistency, and excellent communication. It was critical that I could provide the necessary support and assurance to our people at the start of the pandemic and in recent months.That’s what strong leadership is all about. You have to be on top of what’s happening – sometimes with very short reaction time – and take decisive action when necessary.”

Manufacturing makes such a significant contribution to the country’s GDP and is one of the main and most stable sources of employment on the island. To thrive, it now needs to diversify, be more innovative, more environmentally sustainable, and adopt more advanced technologies.

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Keeping all stakeholders safe was, of course, Kevin’s primary objective, and many changes have been made to the operation and factory to focus on this. The company services many sectors of the economy, some of which were directly and immediately hard hit by the crisis. “While much of our business carried on throughout, we know there is a lag effect for most of the other sectors of the economy that will be impacted in the months to come. Agility will differentiate companies and determine how they emerge from this unprecedented crisis. Of course the uncertainty around how things evolve remains to be seen.” To safeguard Halmann Vella at this time, the CEO says the team has developed a very robust business continuity plan, which, supported by a strong balance sheet, can withstand shocks and enable the company to navigate the crisis. “You have to have a structure that enables you to weather the storm. I am committed to these goals for the long-term overall sustainability of the company, and we are very much on track.” He says there are opportunities to be gleaned from this too, including the future of ‘Industry 4.0’ – a term that is increasingly heard in manufacturing circles and which refers to automation and data exchange in manufacturing technologies. “It’s an exciting topic with huge potential, with the ultimate goal of making businesses perform better and more efficiently. However, the focus right now is on ensuring manufacturers survive first; Industry 4.0 will hopefully come next.” In the meantime, Kevin says the company is looking forward to a mixed workbook of projects in 2021, including retail, residential, corporate and even some flagship developments. These include the completion of the Trident project in Mriehel, the continuation of work on the Gozo Museum, and the commencement of work on the façade of St John’s Co-Cathedral, among others. The future of the island’s manufacturing sector is also here to stay, the CEO stresses. “It makes such a significant contribution to the country’s GDP and is one of the main and most stable sources of employment on the island. To thrive, it now needs to diversify, be more innovative, more environmentally sustainable, and adopt more advanced technologies. The challenge here, of course, is the capital investment needed, which is significant. Human resources are also critical though, as we need more technically competent people. This is not about employing someone to press a button, but about employing more qualified, professional people so that the labour force will have the right competences and skill sets to make the best of any future opportunities. This will mean the island can also compete internationally more than ever before.” For Kevin, the next 12 months of leading Halmann Vella are all about ensuring success for the long term. “The environment is continuously evolving, consumers are becoming more sophisticated, competition is increasing, and stakeholders’ needs are more diverse,” he says. “As a company we are here to invest in meeting those needs, and will continue to expand our manufacturing plant, while rolling out exciting new products too. Within that context, my own goal is for us to end 2021 in a stronger position than we started and ensure Halmann Vella is on an even more solid footing to embrace its exciting future,” the CEO concludes. 145

Quick-fire Questions… with Kevin Rapinett What is your morning routine? I am an early bird, up at 5.15am. I shower, have breakfast, catch up on the markets and news, meditate and have a shot of espresso. Did you have a hero when you were younger? The 1982 FIFA World Cup winning team, mostly made up of Juventus players. Do you have one now? I look up to volunteers who help others selflessly. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? Face-to-face is better. What tool (online or otherwise) do you use most in your business? My mobile and laptop. What’s your top tip for productivity? Wake up early, plan well, and have a ‘power hour’ when you really need to get things done. If I gave you a magic wand, what would you do with it? Eradicate poverty and hunger across the world. What’s your favourite time of day? Definitely mornings. What entertained you most during lockdown? My wine cellar. Does your life today look different to 2019? Yes, I hardly travelled at all. Does your business today look different to 2019? I now am in a new career and our business is constantly evolving, and we continuously need to adapt to the changing environment. Is success built on hard work or luck? Hard work, however a little luck never hurts. What’s your top tip for running a business in Malta? Keep cashflow strong and understand leverage. What do you hope the world achieves in 2021? More global stability and international cooperation for greater economic prosperity. What’s next for you? Making a success of this, my new role.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “If you’re good at what you do, good will come back to you. If you don’t procrastinate, hard work will bring you wonderful results. In fact, one of my landmark career moments was when Kevin and I won RE/MAX’s Global Region of the Year in 2017, an award we’d previously been nominated for three times. After so much hard work, winning that award was the validation we needed: it showed that we were doing things right.” 146

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jeffrey Buttigieg

CEO, R E / M A X M A L TA

“ B E A S P E C I A L I S T ; C A RV E O U T A N I C H E F O R YO U R S E L F. THEN, SUCCESS WILL FOLLOW.”

F I R M I N T H E B E L I E F T H AT A T E A M O F T R A I N E D A N D A D A P TA B L E P E O P L E L I E S AT T H E C O R E O F A N Y S U C C E S S F U L B U S I N E S S , R E / M A X M A L TA ’ S N E W C E O J E F F R E Y B U T T I G I E G I S R E P L A C I N G H I S O P E R AT I O N S H AT W I T H O N E O F S T R AT E G I C V I S I O N . F O R 2 0 2 1 , H E I S S H I F T I N G H I S F O C U S T O W A R D S C O N S O L I D AT I O N W H I L E I N V E S T I N G I N T H E B E AT I N G H E A R T O F R E / M A X M A L TA : I T S P E O P L E .

The end of 2020 has brought about a significant change for RE/MAX Malta and its internal structure. After years as the company’s COO, Jeffrey Buttigieg has taken the helm as CEO, following his brother Kevin’s tenure. Now, Jeffrey is looking to the future with fresh tenacity and enthusiasm about what this next chapter has in store.

ahead. But, more than anything, I strive to continue learning. I’m a lifelong student, so in many ways, my journey is just getting started.” From milestone to milestone, Jeffrey has consistently applied real-life lessons to secure new opportunities. In his late teens, he was working in real estate when he got poached by one of his clients to work in an advertising company. But the call of real estate remained strong, and when his brother, Kevin, called a few years later with a proposal to set up their own property agency, Jeffrey jumped at the opportunity.

“I’ve been engrossed in implementation for a long time, but my focus is being recalibrated,” Jeffrey says, as he reflects on his transition to CEO, and Kevin’s move to Chairman. “It’s a different ballgame, but to be captaining the ship is an exciting challenge through which I am making sure that our sails are trimmed, everything’s ticking along and we’re all sailing in the right direction. I’m meticulous and determined to forge a new path

“I had always wanted to run my own business, so we decided to set up JK Properties together, a small operation that then grew into RE/MAX 147

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I am meticulous and determined to forge a new path ahead. But, more than anything, I strive to continue learning. I’m a lifelong student, so

is a staunch advocate of specialising in one’s career. “A specialist knows everything there is to know about a particular kind of property or town, including what has and hasn’t been sold and all relevant details. As a specialist, you’re the go-to person and this boosts the trust factor from the client’s perspective,” he explains.

in many ways, my journey is just getting started.

“On the contrary, a generalist does a bit of everything, everywhere – but it will often take longer to sell a property if you don’t specialise in the building’s particular area. The real estate sector has a lot of generalists and just a few specialists. At RE/MAX Malta, the reverse is true, and this has been quite a pivotal strategy behind our success.”

Malta within five years,” he smiles. “When we were JK Properties, we were known as the island’s Lettings Specialists, which is something we still hold close to our hearts. With RE/MAX, we’ve progressed into becoming experts in sales as well as lettings.”

For the new CEO, it all comes down to knowledge and expertise, and the ability to share both with clients proactively. “Property is often the biggest investment in one’s life, so I believe in arming people with the knowledge they need to make sound decisions,” he says. “I’ve applied this concept at RE/MAX, too, through conducting thorough market research, which isn’t

The generalist vs specialist discussion in real estate is something that is often spoken about quite zealously. While Jeffrey sees the benefits of both approaches, he

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necessarily the norm on the island. In fact, we’re still in a position where the Maltese Government does not have a system in place to distribute robust statistics about the property sector. As a result, without proactively seeking that data and knowledge, all a company can do is walk ahead blindly.” One initiative Jeffrey set up to funnel market knowledge to the public is The Real Estate Conversation, an online video series. Asked about his decision to take the plunge, Jeffrey says that he had spent a while contemplating innovative ways of giving solid, unbiased knowledge to the community. “I settled on the idea of letting experts do the explaining,” he says. “In each video, I sit down with a consultant or other expert – someone who lives and breathes the subject in their profession – to discuss a particular topic so that the public can hear the ins and outs from the horse’s mouth, so to speak. Especially after doing the series, my advice to people is that if you’re serious about investing in property, seek information from a trustworthy source, rather than through hearsay.” Following his many successes, Jeffrey is now driven by the strategic opportunities that lie ahead for both the company and the team. “I like building relationships with people and understanding their psyche,” he says, “and above all, I believe in empowering people and giving them chances to explore abilities and establish expertise. “Of course, 2020 has been difficult and our performance in some respects has been hit: we are currently at 85 per cent of where we were last year. It’s been tough for our agents, who have had to work even harder for the deal. Buyers have not been in abundance and property owners are wary. But in contrast to popular belief, prices haven’t really decreased, and we’ve had a few excellent luxury market sales. That said, foreign clients have slowed down and many agents have had to re-focus as a result. “Overall, though, the entire team has really come together and picked each other up to get through this period. I am incredibly proud of how well our agents have adapted to working remotely and using new tech systems and processes. The unity and camaraderie across the whole company have been truly inspiring.” And it is RE/MAX Malta’s agents that lie at the core of Jeffrey’s vision moving forward. “2021 will be all about consolidation and taking our training to new heights. RE/MAX Malta’s learning programmes are unparalleled among our competition on the island. Besides the obvious benefits, this is proving to be fortunate for us because all agents in Malta will need to be fully licensed by the end of 2021, as per recent legislation. Thankfully, our agents have been doing the kind of training needed to obtain the licence for years. But across the wider local sector, this new requirement will mark a turning point.”

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Quick-fire Questions… with Jeffrey Buttigieg What is your morning routine? Wake up, go for a walk or jog, and get breakfast going for the kids. Then, I get ready, see my son off on the bus, take my five-year-old twin girls to school and head to work. Did you have a hero when you were younger? Hulk Hogan. Do you have one now? Gary Vaynerchuk is someone I look up to. Where did you work from during lockdown? At the office when it was empty, and home. Zoom calls or in-person meetings? In-person meetings. What tool (online or otherwise) do you use most in your business? My iPad Pro. What’s your top tip for productivity? Plan your day the night before. If I gave you a magic wand, what would you do with it? I’d bring the world back to normal. What’s your favourite time of day? Probably the morning when I’m walking. What entertained you most during lockdown? The kids and home life. Does your life today look different to 2019? It does because I’m a social animal. I like meeting people and organising events, so that’s currently missing from my life. Does your business today look different to 2019? I think it’s much stronger because we’ve consolidated, patched up cracks and started to appreciate the benefit of doing things now rather than later. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Be transparent, honest and innovative. What do you hope the world achieves in 2021? We’re all in this together, so I hope everyone gets a fair run at the vaccine and people don’t get left out. What’s next for you? An exciting but challenging time lies ahead. My brother preceded me. I am keen to fill my brother’s shoes while making my own mark.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jamie Houston

MANAGING D I R E C TO R , . C A R B L U M A L TA

“NOTHING COMES FOR NOTHING: PUT IN THE WORK AND MAKE THE MOST OF EVERY OPPORTUNITY.”

2 0 2 0 M A Y H A V E T H R O W N A H E A L T H C R I S I S T H E W O R L D ’ S W A Y , B U T W H AT I T TA K E S T O L A U N C H A B U S I N E S S H A S N O T C H A N G E D . I N F A C T , W I T H R E M O T E W O R K O N T H E R I S E A N D TA L E N T P O O L S E X P A N D I N G , W A I T I N G U N T I L N E X T Y E A R S E E M S C O U N T E R P R O D U C T I V E A N D C E R TA I N L Y N O T . R I S K - F R E E . J A M I E H O U S T O N , M A N A G I N G D I R E C T O R O F C A R B L U M A L TA , S H A R E S H I S S TO R Y O F L AU N C H I N G A CO M PA N Y I N 2 0 2 0 . H I S V I E W ? T H E R E IS NO TIME LIKE THE PRESENT, SO ADAPT, PERSEVERE AND PRESS AHEAD.

Managing Director, I work closely with my business partner Clive on strategy, but I firmly believe that I’m only as good as the weakest link in the chain, so I encourage, support and love seeing my team feel empowered and getting creative.”

Aboard a boat in Italy, Jamie Houston rings in to . talk about CarBlu Malta, his yacht management and charter company based in Birgu. Right now, Jamie is in Tuscany refitting a boat. This is what the past year . has been like for the CarBlu Malta Managing Director: building a Malta-based company from the ground up, while sometimes being kept away from Maltese shores.

It soon becomes clear that Jamie is a people person through and through, and he does not shy away from any task when it comes to propelling his business forward. “Every day is different,” he smiles. “I could be in a meeting with a board of directors one day and then driving a boat or getting my hands dirty doing repairs the next. We are currently a team of eight and we all enjoy the varied nature of the job. No one operates in a silo; we’re . all learning from each other and getting to know CarBlu Malta and the charter industry inside and out.”

“In March 2020, we were stuck in Oman trying to get to Malta,” Jamie begins. “Initially, instead of being able to work from our. new office in the Grand Harbour, Mara and I set up CarBlu Malta from our dining room table in Oman with Clive and Will. Finally, the airports opened and we could reach Malta in July. It’s been quite a ride! But we’ve got a fantastic team, and that’s been crucial. In my role as 150

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “With perseverance on your side, very few obstacles are insurmountable. My grandfather, Dr Ronald Houston, is evidence of this. He worked immensely hard to reach his goals despite his dyslexia and colour blindness. In fact, he became the Chief Medical Officer of Shell Petroleum and was one of the world’s experts on the bends (decompression sickness) – a condition that can impact scuba divers. And he was also a painter. I believe that if you’ve got the fire to fuel purpose, little can stand in your way.” 151

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We’ve all realised that we are not infallible. If the world closes down, it does so for all of us. We’re lucky to have been given the opportunity to sit back, breathe and reflect. building a touristic development with hundreds of apartments, villas, a golf course and marina.

Jamie, though, is hardly new to the sector. He has worked in the marine industry for over 20 years, going from shore-based logistics and operations to boat-building and yacht management. He was the General Manager of the Olympic Sailing Village at the London Olympics in 2012, and then moved to Oman to work with Oman Sail, and later as a Director in a tourism construction company, 152

“My passion has always been the sea, so that called me back,” continues Jamie. “I’ve always had a vision of running a charter business that shows full respect to the boat owner and . enables them to run their boat at a profit.” So, CarBlu Malta was born and the decision to come to Malta was made. The island and its language even inspired the name, a play on . words: car meaning ‘clear’ and blu meaning ‘blue’. And from the get-go, the company has been all about blending Malta’s Mediterranean sensibility into boutique-style charter experiences, replacing the over-the-top formality of many superyachts with the more casual formality of sailing.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

The business, though, did not launch quite as expected. The team was meant to be refitting boats from March through June 2020 in anticipation of a first charter season later in the year. “The pandemic hit us before we managed to pick up pace, so we’re about five months behind schedule and, of course, the world still hasn’t reopened to travel,” explains Jamie. “That said, in some ways, COVID-19 has also brought positive pressure because people have innovated and thought outside the box. For us, it’s been important to remember that it is also OK to take some of the pressure off. We have re-evaluated, changed some plans and when the world is ready to play once again, we’ll set sail.” In fact, Jamie is optimistic about the future impact the pandemic will have on the charter industry. He explains that when people start travelling again, a charter yacht will provide a perfect bubble, allowing them to holiday in a safe environment when things might still be up in the air. “We’ll be in a position to offer a family of four the opportunity to come aboard a yacht for a week for the same price as going to the Maldives,” he says. “I believe that the charter industry will provide an opportune alternative to people who no longer feel safe going on holiday amid crowds and who want more space and seclusion. We’re also implementing health and safety processes that will see crew members and guests being rapid tested for COVID-19 prior to setting sail. From day one, I have wanted to create experiences and memories for people, so now I’m looking forward to giving our guests the opportunity to get out and remember what it means to be with family and friends, and to live again.” . As he looks ahead to CarBlu Malta gaining momentum, Jamie explains that there are many learnings from 2020 to be gleaned. “I think we’ve all realised that we are not infallible. If the world closes down, it does so for all of us. We’re lucky to have been given . the opportunity to sit back, breathe and reflect. For Carblu Malta, this means that we have honed a vision that will take us forward as a fully sustainable company, refitting and managing boats for investors and welcoming guests aboard on charters,” he says. “Perhaps even more importantly, though, 2020 has taught us the value of human connection and a sense of place. Malta has been integral to our brand identity from the start. We have Maltese team members and all other company employees have relocated to the island. I am driven to give back to . the community that is home to CarBlu Malta and to bring genuine employment opportunities to young Maltese residents who are keen on working in yachting and the wider marine sector. To be able to give people a leg up in their careers is one of my main long-term goals, and then seeing them establish themselves within the sector will be a great moment for me,” Jamie concludes. 153

Quick-fire Questions… with Jamie Houston What is your morning routine? Up at 5am, exercise and head to the marina early. Did you have a hero when you were younger? Gavin Hastings, a Scottish rugby player. Do you have one now? All auxiliary workers who have kept the world turning in 2020, and my grandfather. Where did you work from during lockdown? An apartment in Oman until we were repatriated to Malta in July. Zoom calls or in-person meetings? Nothing beats sitting around a table together. What tool (online or otherwise) do you use most in your business? My phone. What’s your top tip for productivity? Be passionate about what you do. If I gave you a magic wand, what would you do with it? Remove social media and uninformed opinion. Create more space for sensible journalism. What’s your favourite time of day? Sunrise at the Grand Harbour with a coffee. What entertained you most during lockdown? My partner, Mara, and our neighbours. Does your life today look different to 2019? Yes. In 2019, I dreamt about what I wanted to do. In 2020, I’m doing it. Does your business today look different to 2019? From a seed in my head in 2019, the business became a reality in March 2020. Is success built on hard work or luck? Hard work to make the most of opportunities. What’s your top tip for running a business in Malta? Respect existing organisations, be aware of your surroundings and give back to the country. What do you hope the world achieves in 2021? Stability and a return to normalcy. What’s next for you? Building the business organically.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Rose Anne Cuschieri

C E O , M A L TA FURTHER AND HIGHER E D U C AT I O N AUTHORITY

“ O U R T E A M S T R I V E S TO P R O M O T E A M O R E E D U C AT E D C O M M U N I T Y , R E A D Y F O R T H E CHALLENGES OF THE FUTURE.” A WOMAN WITH MANY TITLES UNDER HER BELT WITHIN THE REALM OF E D U C AT I O N A N D M A N A G E M E N T , R O S E A N N E C U S C H I E R I I S T H E C E O AT M F H E A , A N E D U C AT I O N A U T H O R I T Y T H AT F O S T E R S F U R T H E R A N D H I G H E R E D U C AT I O N I N M A L TA . H E R U L T I M AT E G O A L I S T O G E T T H I N G S DO N E , A N D 2 0 2 0 WA S N O E XC E P T I O N .

But, when she’s not working, you’ll find her in the kitchen. She loves to cook, while enjoying an occasional glass of wine, but mostly, she loves to bake. “My father was a baker; he ran a confectionery,” she reminisces. “It was a wonderful upbringing,” she recalls.

Rose Anne Cuschieri started a career in education that would span over three decades by sheer coincidence. In 1990, she was enjoying life as a mother and housewife, until an unfortunate accident left her family’s finances in dire straits. Compelled to seek employment, Rose Anne started out as a grade three school teacher and has never looked back since.

Equally wonderful, she continues, were her scholastic years, which gifted her with two remarkable teachers who taught her English and Maltese, and encouraged her growth. She credits them with inspiring her choice of career: teaching.

This twist of fate saw her master various other titles within the sector, including coach, counsellor, trainer, director, lecturer, and public speaker. Throughout, however, she says her greatest accomplishment was achieving her doctorate while working and raising her children. “That remains my proudest accomplishment. It was hard. But that didn’t stop me,” she shares.

Today, Rose Anne leads a team of 40 at the MFHEA. Established in 2012, the MFHEA focuses on research, effective licensing, accreditation, quality assurance and recognition of qualifications established under the Malta Qualifications Framework. It is also a regular contributor to the European forum regulating the European Qualifications Framework and to the European meetings of Directors General for Higher

Today Rose Anne is the CEO at the Malta Further and Higher Education Authority (MFHEA), previously known as the National Commission for Further and Higher Education (NCFHE) – a role she took on in 2018. 154

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“COVID-19 didn’t really change my leadership skills. Overall, I’ve always been a compassionate and reasonable leader. I listen and work with my team, not above them. I never shout, and I’m quick to give a compliment. In all senses, I may have an unorthodox style of leadership, but I get things done.”

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Education, as well as represents Malta on the European Training Foundation Governing Board. “The mutual recognition of professional qualifications is an important aspect of the free movement of citizens throughout the EU,” she says, underlining one of the key functions of the entity she heads. The law lays down the framework through which regulated professions are to be recognised by designated authorities as the entities responsible for each individual regulated profession, she elaborates. “To mention a few developments since its inception in 2012,” Rose Anne continues, “the MFHEA advanced the diploma supplement, learning outcomes, ECTS and ECVET (the European credit system for vocational education and training), the Malta Qualifications Framework, and, recently, the Malta Qualifications Database,” she states. The Malta Qualification Database, launched in November 2020, is considered by Rose Anne to be a milestone for the year as it was a laborious project to roll out and, due to COVID-19, resources were limited. Co-funded by the European Commission, this online database is publicly accessible and provides detailed information on further and higher education qualifications and awards that are accredited and can be obtained in Malta. This database will contribute to making information on accredited programmes in Malta more readily available to learners both locally and abroad, whilst ensuring that anyone who wants to further their education has the correct information at hand. The information provided on accredited programmes is comparable and compatible with that provided by other countries, thereby ensuring the transparency of the system of accreditation carried out in Malta, whilst facilitating the recognition of Maltese qualifications abroad.

To mention a few developments since its inception in 2012, the MFHEA advanced the diploma supplement, learning outcomes, ECTS and ECVET (the European credit system for vocational education and training), the Malta Qualifications Framework,

Her role clearly carries great responsibility but she is not daunted by it; focus and determination drive her to deliver results and lead her team effectively. She believes that the key to successful leadership is to be a good listener and a good team player. “I always had an inclination to listen to people. Leadership is all about people.”

and, recently, the Malta Qualifications Database.

Being a people’s person, and valuing nothing more than to establish a good rapport with her staff and clients, Rose Anne’s main goal was to make the MFHEA more personal. 157

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

When she took on the role of CEO in 2018, the entity had seen major shifts in form and structure, and she was determined to provide a sense of job security. Rose Anne recalls that her biggest challenge at the time was to gain their trust. “But I managed, and today we work in perfect synergy. It’s very enriching,” she says, explaining that she succeeded by establishing clear roles and parameters for her staff from the get-go. Another initial goal was to shift an old-school mentality about the Commission’s relationship with the licensee providers, namely the people licensed by the MFHEA to provide further and higher education to their students. The entity’s business style with the providers was rather transactional. Nowadays more value is given to the entity’s relationship with the providers. “It simply wasn’t the company’s philosophy,” Rose Anne says. Finding this approach too impersonal, she made it her goal to establish a relationship with all of them, and today, she enjoys a good rapport with all of the institution’s licensees. Her challenges, however, were far from over. Less than two years after taking on the role, and slowly getting the company to reach its full potential, COVID-19 hit. From an internal perspective, it was a challenge to shift the frequent meetings online, particularly for Rose Anne, who values nothing more than face-toface interaction. The vivacious staff meetings were traded in for little boxes holding dozens of faces on a laptop, and the ‘good mornings’ shared over coffees were replaced with remote working in an empty kitchen, Rose Anne says, as she paints the grim picture. On a larger scale, she had to ensure that, since courses had shifted online, the students were still receiving the highest possible quality of education. To

achieve this, she consulted with a number of experts to provide clear parameters on what constituted ‘quality online education’, and the team was prompt in drafting a policy document on the matter. “We worked quickly but thoroughly,” she says proudly. On a personal level, 2020 also saw Rose Anne being elected as a member of the Steering Committee for Education Policy and Practice (CDPPE); a committee which oversees the programmes of the Council of Europe in the field of education and gives advice to the committee of ministers on educational issues. She has also been elected as a member of the Governing Board of the European Wergeland Centre (Royal Norwegian Ministry for Education and Research). Overall, however, Rose Anne is most proud of the team’s tireless work towards the MFHEA becoming an Authority, rather than a Commission; a long and difficult process which started in February 2019, and which would put it in a position of more power and more responsibility when it comes to fruition. “I am nothing but proud of what my team and I have managed to accomplish with regards to this, and in spite of the circumstances,” she states. “We worked hard.” Rose Anne hopes that come 2021, she will be able to increase the staff complement, rendering the MFHEA a bigger and more effective entity, with more online prominence too. Other than her aspirations for gaining this independence and expanding her workforce, Rose Anne sees 2021 as a year of hope. She’s confident that whilst certain elements will inevitably change as a result of COVID-19, such as online courses overriding classroom sessions, things will slowly settle into a new normal and the educational sector will continue to grow, now more than ever. 158

Quick-fire Questions… with Rose Anne Cuschieri What is your morning routine? Having a coffee whilst I check my emails. Did you have a hero when you were younger? My father. Do you have one now? Still, my father. Where did you work from during lockdown? The kitchen. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Emails. What’s your top tip for productivity? Be yourself and enjoy what you do. Productivity then comes natural. If I gave you a magic wand, what would you do with it? I would ensure that children are not left neglected and parentless. What’s your favourite time of day? Night. What entertained you most during lockdown? Watching comedies. Does your life today look different to 2019? Why? Yes, I’m more settled in my job, and 2020 also saw the birth of my second granddaughter. Does your business today look different to 2019? Why? Absolutely. We are also more settled now, with clearer parameters. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Take care of your people. What do you hope the world achieves in 2021? Peace of mind. What’s next for you? More time with my grandchildren.

MaltaCEOs 2021

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“This year was all about working well with my small and focused team. We put our energy into achieving key objectives and, in particular, worked to deliver the project within the agreed-upon parameters, while understanding our business partners. We always strive to obtain a winwin situation for all.”

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Charles Xuereb

CEO, TRIDENT E S TAT E S P L C

“BUSINESSES WILL FOCUS MUCH MORE ON THE QUALITY OF THE OFFICES THEY CHOOSE. TRIDENT’S QUALITY WILL N O D O U B T G I V E U S A C O M P E T I T I V E A D V A N TA G E . ”

WHEN PROPERTY DEVELOPMENT BECAME A KEY GROWTH OPPORTUNITY FOR T H E F A R S O N S G R O U P , T R I D E N T E S TAT E S P L C W A S B O R N . C H A R L E S X U E R E B H A S L E D T H E C O M P A N Y S I N C E T H E V E R Y S TA R T , A N D I S N O W E A G E R T O B R I N G I T S I N I T I A L D E V E L O P M E N T V E N T U R E – T H E €50 M I L L I O N T R I D E N T PA R K P R OJ E C T – TO M A R K E T I N 2 0 2 1 .

The business world is bursting with stories about how coincidences can turn into opportunity.

expenditure versus budget, to make sure the funding structure was adequate.”

Charles Xuereb’s career aligns with that; in fact he never planned to be involved in property investment. As an accountant by profession, he started his career as a qualified accountant with one of the ‘big four’ firms, and then joined one of the Farsons Group subsidiaries as Chief Accountant.

Charles then moved on to the Farsons Group as Group Financial Services Manager and, in 2004, formed part of the team that handled the administrative and financial set-up of a newly acquired food importation business for the Group. Shortly after, in 2005, he was asked to deputise the CFO role for the Group but this was short-lived and he effectively started the role as CFO within a couple of weeks.

“I actually witnessed the introduction of Pizza Hut, Burger King, KFC and TGIF in Malta,” Charles says, smiling at the memory. “At that point, I was already indirectly involved in the acquisition of properties to house the franchised outlets, and my role also entailed the monitoring of capital

This was a milestone for Charles because, as CFO, he also sat on the Board of the Group’s property companies and witnessed a number of property transactions. “And then, in

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It’s about tactfully exercising my authority while retaining high moral ground. Ultimately, to deliver adequate return to our shareholders, correctness is key.

2017, I was offered the role of CEO of the Trident Group – the Group’s standalone property pillar, spun off from Farsons Group - and I haven’t looked back since.” Today Charles explains his role is dedicated to delivering the vision of the Board in transforming the Group using a successful business model that takes the correct corporate decisions. “It’s about tactfully exercising my authority while retaining high moral ground,” he says. Ultimately, to deliver adequate return to our shareholders, correctness is key. Currently, much of the CEO’s time is focused on the completion (and populating) of the mammoth Trident Park project, which is well underway – although the Group actually has 10 properties in its portfolio. Once launched, it will be a leading office complex establishing the identity of the new Central Business District (previously known as Mriehel) and one of the Island’s most iconic landmarks. Trident Park is a project Charles is justifiably proud of – a unique green office campus that blends historic and contemporary architecture, and which is inspired by the traditional character of Maltese palaces. “I love how much green and open space it will bring to the area,” continues Charles, “specifically the gardens and internal courtyards. This is all reflected in the low-density and low-rise terraced office buildings that make up the project, and the result is an office space with an abundance of natural light and fresh air.” There’s no doubt that this is a landmark development on the island. Aside from the features mentioned above, Trident Park’s cutting-edge building management technology also guarantees exceptional energy efficiency combined with the unique cooling technology 162

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of chilled water, which circulates in the ceiling slabs. This makes the construction environmentally sustainable, aiming to be prominently stamped with an ‘excellent’ BREEAM certificate – a first for Malta. “Climate change is very much an international concern,” Charles continues. “However, greenhouse gas emissions are only part of the overall environmental impact from the built environment. Buildings clearly contribute to natural resource depletion, while the materials and components selected also have impacts arising from manufacturing and transportation. “As a result, Trident Park has been designed to balance and minimise environmental impacts as much as possible. Our design team has extensive experience when it comes to low-impact development and quickly identified that robust, long-life materials would be key in the Maltese context. These materials are both durable and have low recurring maintenance requirements as opposed to, say, steel, glass and cladding. I am proud of the decisions we have made as a team.” Charles is also pleased with the progress the project – and Trident Group in general – made during 2020, despite the obvious upheaval. “Our biggest decision was whether to continue with the development or to embark on a phased development approach,” he explains, adding that it was the project’s potential tenants who were impacted by COVID-19, more than the Group’s work itself. “Thankfully, the Board approved the expeditious completion of our development because of the quality of the design, its outstanding

environmental credentials, and the unique campus-style offering. Together, this will result in a finished product that will have a competitive advantage as and when the market recovers.” But when he casts his thoughts over the future of the property market in general, the CEO says that, unfortunately, the country hasn’t given proper attention to sustainable development growth. “Some have opted to be greedy without being sensitive to the impact they have made on our skylines or the density of the project, and this is most evident in the residential market,” he continues. “I hope this will be rectified going forward. “As for the future prospects of the office market, there is a high probability that there will be an over-supply of space coming on-stream. This will cause downward pressure on rental rates, especially as businesses may well need less room because their team is teleworking. For us, though, it could present great opportunity, as I think businesses will focus much more on the quality of the offices they choose. Trident’s quality will no doubt give us a competitive edge.” Finally, Charles says that he looks forward to all of the challenges and opportunities that 2021 will bring Trident, and he plans to keep using his role to lead by example. “I believe businesses that preserve cultural heritage should be supported by expediting the relative processes and being granted incentives to encourage them further,” he says. “With or without that, we will be proud to lead at the very forefront of the green office and sustainable development evolution,” he adds. 163

Quick-fire Questions… with Charles Xuereb What is your morning routine? I check my emails, shower, have breakfast, phone my mum on the way to work, and plan the day ahead. Did you have a hero when you were younger? Bill Gates. Do you have one now? Jacinda Ardern, the New Zealand Prime Minister. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? A mix. What tool (online or otherwise) do you use most in your business? Microsoft Teams. What’s your top tip for productivity? Focus. If I gave you a magic wand, what would you do with it? Eradicate COVID-19. What’s your favourite time of day? Immediately following a gym session. What entertained you most during lockdown? Netflix. Does your life today look different to 2019? Not really, I have just adapted to change and am socialising less. Does your business today look different to 2019? Not really. Is success built on hard work or luck? Definitely both – lots of hard work with a sprinkle of luck. What’s your top tip for running a business in Malta? Being correct and above board. What do you hope the world achieves in 2021? I hope it learns from past mistakes. What’s next for you? Growing the Group – there is great capacity and opportunity for it.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Joanna Delia

CEO, PEOPLE & SKIN

“WORK IS LIFE, AND IT SHOULD BE A W O N D E R F U L PA R T O F YO U R L I F E .”

WHEN A TRADITIONAL MEDICAL CAREER NO LONGER FELT LIKE A F I T F O R D R J O A N N A D E L I A , S H E S TA R T E D O N T H E P AT H T O W A R D S S E T T I N G U P H E R O W N B U S I N E S S . S E V E R A L Y E A R S L AT E R , S H E NOW LEADS ONE OF THE ISLAND’S MOST SUCCESSFUL MEDA E S T H E T I C C L I N I C S , P E O P L E & S K I N – A R O L E S H E S AY S I S D R I V E N B Y P U R P O S E F I R S T , R AT H E R T H A N J U S T T H E B O T T O M L I N E .

Dr Joanna Delia fell into business in a rather alternative way. Those that know her will say this is no surprise – many things about this young CEO are alternative, and that’s exactly the way she likes them.

Joanna explains that she discovered the path to aesthetic medicine and running her business by accident. Her early medical income as a new doctor could barely cover her mortgage when she was buying her first home, so she decided to supplement that revenue with a part-time job in the med-aesthetic field. “I immediately loved how cutting-edge the industry is,” the doctor enthuses. “So much research is put into it, and I love helping people to feel their best as they get older. Image can betray us as we age and I enjoy giving people that extra quality of life as they get to relish the successes of their younger years. I am truly grateful for every aspect of this role.”

“I trained as a doctor and was set to take a normal doctor’s path,” she explains. “But I have to admit that, soon after graduating in medicine, I realised the lifestyle wouldn’t be the best fit for me. I wanted to use the skills and knowledge I had gained but I also wanted to enjoy other aspects of life, including having a fantastic social life and time with my family, as well as being in an environment that is upbeat and happy. So, as much as I am in absolute awe of the doctor’s role and my friends who do that every day, I knew I had to do something a little different.”

It’s certainly a position that has developed since those early days, as Joanna quickly found her feet in business. She first went into partnership on a

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C E O I N S I G HTHE T ISLAND’S MOST INFLUENTIAL BUSINESS MINDS “We will never stop growing as a team. An always-learning mentality is something that really underpins who we are and I hope it is what will allow us to stay the distance as we continue to grow as people and as a business.”

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I enjoy being the source of inspiration and motivation for the team, and tackle my position as CEO a bit experimentally. I try to bring my values to everything we do, and ensure they are the foundation of all of our decisions along the way. Joanna says she now craves the excitement that business brings; the planning that goes into starting an enterprise and watching an idea flourish, as well as seeing it succeed – something that People & Skin did almost from the word ‘go’. She stresses that experimentation plays a huge part in all this and she is rarely afraid to try new things. Instead, she is resolute that it’s all about learning from others and then putting that into action. “Our values, again, are so important – such as our ethos for really building relationships with and caring about our customers. When you keep that in mind, things develop naturally and that’s really beautiful and clean. I find it honourable when people talk highly of my company, and that naturally transforms into turnover. We have been nominated for, and won, several awards over the years and that’s great, but the absolute best feeling is when a client recommends us; nothing

clinic, before, five years ago, opting to go her own way and launch People & Skin. Today she remains the lead med-aesthetic doctor on the team, and also enjoys the creative sides of the company, like developing the brand. “It’s more exciting than I ever imagined,” she says. “I enjoy being the source of inspiration and motivation for the team, and tackle my position as CEO a bit experimentally. I try to bring my values to everything we do, and ensure they are the foundation of all of our decisions along the way.”

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beats it. It’s the kind of acknowledgement I love for the team, too.” That team is made up of six women, some of whom have been working with Joanna for over 15 years. What began as a two-person unit has tripled and the CEO believes that it is this small, closeknit and dedicated band that makes the company what it is. “I don’t have much experience with big cohorts of staff and I like that we are small,” she continues. “I don’t think of my team as workers or employees; people are people. They come with everything that a person comes with – shifts in moods, relationships, families, priorities. You can’t expect people to just forget who they are because they are at work. Work is life, and it should be a wonderful part of your life. Yes, my profession is important to me, but that doesn’t mean I am willing to sacrifice everything else for it. It’s part and parcel of something so much bigger.” With this in mind, Joanna put one of her ideas to the test in 2019: a three-day working week for the company. She wanted to see if People & Skin could bring in as much turnover while working fewer hours, and the results have been phenomenal. “We’re more effective, more efficient, and more excited than ever before,” she says. “COVID-19 aside (when we closed for a while), we have mostly stuck to our plan and it’s worked very well; we actually increased turnover this year,” she says. Beyond that, Joanna also spent lockdown working more on a personal project she is looking forward to bringing to life – although she isn’t giving too much away just yet. “It’s a new business idea that I am so excited about,” she smiles. “I know it’s something people will want and everyone uses it every day, so I am hopeful it will really grow into something special. You’ll definitely hear more about it soon.” So with 2021 beginning, Joanna is resolute that it’s going to be a good year – one that will see some paused projects get back on track, and that will continue her vision of empowerment, both within her team and further afield. “This year will be all about retaining what works, continuing to improve, and even widening our portfolio. The world will still be a little uncertain for a while, no doubt, so I don’t think this next period is going to be about transposing our hopes for 2020 into 2021, but taking things as they come and being extremely grateful for what we have achieved so far. 2020 certainly made us appreciate the simple things a lot more and I am going to stay in that mindset for a long time to come.”

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Quick-fire Questions… with Joanna Delia What’s the most important part of your morning routine? Flying over the water on the ferry from Valletta to Sliema. I don’t have a car and love the freedom of that. Did you have a hero when you were younger? Not really – women need more heroes. Do you have one now? Ruth Bader Ginsburg and Regina Catrambone. Where did you work from during lockdown? We didn’t; we were closed. Zoom calls or in-person meetings? In-person definitely! What tool (online or otherwise) do you use most in your business? A syringe. What’s your top tip for productivity? Don’t overwork; have all the free time you can. If I gave you a magic wand, what would you do with it? Stop people from seeing skin colour. What’s your favourite time of day? The middle of the night. What entertained you most during lockdown? My closest friends and our intellectual conversations. Does your life today look different to 2019? Yes, I miss a room full of people so much. Does your business today look different to 2019? A little; we actually connect more and take care of each other more. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Do things properly, pay all your taxes, and find the most trustworthy professionals to help you. What do you hope the world achieves in 2021? Better distribution of wealth. What’s next for you? Launching my new project globally and it becoming a household name.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Enrico Bradamante

C E O , M AV E R I C K S L O T S , AND FOUNDER & CHAIRMAN, iGEN

“ B U S I N E S S A L W A Y S TA K E S P R I O R I T Y F O R M Y T I M E A N D AT T E N T I O N . ”

W O R L D T R A V E L L E R , F AT H E R A N D H U S B A N D , N AT U R E - L O V E R A N D S P O R T S M A N , L E A D E R A N D C O M M U N I C AT O R ; T H E R E A R E M A N Y F A C E T S T O E N R I C O B R A D A M A N T E . B U T AT H E A R T H E I S A B U S I N E S S M A N , A N D HE HAS BECOME A TRUE PILLAR OF THE IGAMING INDUSTRY.

Enrico Bradamante spent most of his life travelling, driven by a childlike curiosity and intellectual interest in other cultures.

a big sportsman, and his father remains someone Enrico speaks very fondly of. In fact, the CEO explains how his family was supposed to go to Italy for Christmas to celebrate his parents’ 80th birthday. “But 2020 had other plans,” he says, expressing how much he misses them, and how this strange year has only heightened that sentiment.

He is now settled in Malta, together with his wife and three daughters, because an interesting job offer intrigued him to relocate here eight years ago. It was a move that would see him embark on a thriving new career within the iGaming industry.

Still, spending Christmas in Malta is not without its plus points, especially since Enrico now considers the island to be his home. “I love living here,” he says, adding that he doesn’t plan on moving. “If I look back on my career, I changed roles and jobs every four or five years prior to this. Today, though, my family and I are very settled here.”

Born in Geneva, Enrico and his Italian family moved back to his hometown, Trieste, when he was six years old, and would continue to commute between countries for a decade. This is probably where his love for travel and moving around stems from. “I’ve been fortunate to travel from a young age. It’s a big part of my personality,” he reveals.

Enrico’s career in iGaming started with NetEnt in 2012, when he was appointed Head Account Manager and Deputy Managing Director. He would work there for over five years, the last three as Managing Director. Following his stint at NetEnt he no longer wanted to

Enrico’s passion for sports and outdoor activities – which are essential for him to balance the stresses of business – also started earlier on in life. He has very much followed in his father’s footsteps to become 168

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“Leadership is the common denominator of all my activities. I am, primarily, a communicator. My daughter once commented on the fact that all I do for work is talk. That observation summarises my role perfectly.”

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execute corporate roles. “Being the full time CEO of a large organisation is an all-absorbing role, not only from a time perspective but from a mental one too. It took up the vast majority of my resources,” he says, explaining that he felt the need to diversify. “I had never been an entrepreneur,” he continues, adding that this eagerness to go it alone pushed him toward a number of projects in 2018, including the start-up of Maverick Slots. “Maverick is a super exciting project: we have developed a very modern platform and optimised the game development process that makes creating games very quick and efficient. We hope to revolutionise the game,” he enthuses. He shares that setting up his own company has helped him change perspective on what makes a career successful nowadays, and that it’s more satisfying to work in a small start-up where everyone is equal and everybody brings their competences, skills and abilities to the table. “It is providing me with a business diversity, a personnel diversity, and an intellectual diversity that I very much enjoy,” he states. 2018 also saw the inception of iGEN, a trade association aimed at giving a voice to the iGaming industry. “I feel that, because Malta is my home, I wanted the industry to have its say and make a positive difference in the environment we are working in,” he says.

Thus, the set-up of iGEN came after the simple realisation that as an industry, iGaming represents 15 per cent of Malta’s GDP. And, while the companies within it were all very busy being successful, growing, and making money, no one was addressing the sectorial challenges that remained ‘lunchtime conversations’ with his peers. iGEN became the place he could have meaningful conversations with all stakeholders about the common challenges gaming companies face, most famously the difficulties in setting up bank accounts and finding the right staff, to name but two. On this last point, he elaborates, there are still some 700 open positions that are yet to be filled in the sector. This, in part, provided the motivation behind iGEN’s launch of whyiGaming.eu – an online resource on all things iGaming, including a showcase of job vacancies. Since its launch in September 2020, Enrico says, whyiGaming.eu has become even bigger than Linkedin, already boasting some 350 vacancies within the sector. More than that, however, the aim of this portal is to evolve into a hub of communication between the industry and those interested in finding out more about it. “iGaming is an entertainment industry that is extremely exciting. It’s a lot of fun to work in,” he continues, recalling

Founding iGEN was then not just a way to put down roots on an island he loves, but also a way to safeguard an industry he is fully absorbed in.

Going forward, companies that will be successful in attracting and retaining staff post-COVID-19 are those that will find the right balance between working from an office and working remotely. Companies that can offer that flexibility will win.

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how refreshing it was to be able to come to Malta to operate various successful businesses without taking himself too seriously. But it’s not all fun and games. Other than being a pleasure to work in, Enrico defines the iGaming industry as ‘pandemic-resistant’. He states that, overall, operators and suppliers in Malta were not as affected by COVID-19 as other industries, adding that it actually had a positive impact on some of them. The proof of how flexible the industry really is lies within the quick and seamless transition it made from office to remote working in 2020. This way of working will become the new norm for the iGaming industry, according to Enrico. It also makes for an interesting change given that gaming companies are renowned for their beautiful and inspiring work environments, sometimes outdoing each other to offer better offices and benefits to their employees. “Think Google and Silicon Valley,” he says. Still, it’s all about balance, he continues. “Going forward, companies that will be successful in attracting and retaining staff post-COVID-19 are those that will find the right balance between working from an office and working remotely. Companies that can offer that flexibility will win.” Overall then, with its intrinsic fun factor, good remuneration, and job security, it’s logical that the iGaming sector continues to attract people the world over. And with Malta being the hub in Europe for iGaming, Enrico only expects it to keep growing. “I find it surprising, however, that the vast majority of the iGaming companies in Malta are foreign owned,” he states, explaining that while the Maltese have been very good at servicing the industry, they seem disinterested in capitalising on business opportunities. He wonders if the reason behind this, along with the fact that most iGaming posts are filled by expats, is because Malta is a very Catholic country with a disdain towards what most perceive to be an unethical industry. “We are trying to close this gap, especially with whyiGaming.eu,” he says, hoping that more Maltese, including women, will take to it. Enrico also has a vision of a more sustainable Malta, stating that, over the last eight years, the betting industry has changed the make-up of the island and the living environment they operate in has improved. However, while praising various infrastructural projects that were carried out to facilitate moving around, Enrico also feels there is need to prioritise the environment. His suggestions include reduced use of private transport, increased use of electric scooters, and overall, a plan to make Malta greener. Finally, to understand what’s in store for Enrico come 2021, one has to look at a broader picture of the entire industry, especially in light of Moneyval. While he admits that a grey-listing for Malta might make it harder for betting companies to continue to operate here, he believes the outcome will be favourable and Malta will remain a white-listed jurisdiction. Maybe his optimism stems from iGEN having worked closely with the Government to make sure it fully understood all implications at the early stages. In the end, he’s unequivocal: “iGaming is here to stay,” he says. 171

Quick-fire Questions… with Enrico Bradamante What is your morning routine? Coffee first, then I check the numbers to keep tabs on the business and finally prepare my daughters’ school lunches. Did you have a hero when you were younger? No. Do you have one now? No. Where did you work from during lockdown? Home. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Excel and Skype. What’s your top tip for productivity? Don’t be busy. Be productive. If I gave you a magic wand, what would you do with it? I’d return home for Christmas. What’s your favourite time of day? Night. What entertained you most during lockdown? The comedian Jonathan Pie. Does your life today look different to 2019? Other than not travelling, no. I’m used to working from home. Does your business today look different to 2019? Yes. Being a start-up, it was affected negatively by COVID-19 Is success built on hard work or luck? Luck. But the harder you work, the luckier you get. What’s your top tip for running a business in Malta? Be connected. What do you hope the world achieves in 2021? To be in a new, normal state. What’s next for you? To take it day-by-day.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Dana Farrugia

CEO, TECH.MT

“ T H E G L O B A L T E C H S E C TO R M O V E S A N D G R O W S FA S T , THUS SO MUST WE.”

T E C H . M T W A S C R E AT E D I N 2 0 1 9 A S A F O U N D AT I O N I N P A R T N E R S H I P B E T W E E N T H E G O V E R N M E N T A N D T H E M A L TA C H A M B E R , T O P R O M O T E T H E N AT I O N A L S T R AT E G Y F O R T E C H N O L O G Y A N D I N N O V AT I O N . I N J U S T O V E R A Y E A R , C E O DA N A FA R R U G I A H A S G R O W N T H E CO N C E P T F R O M PA P E R TO R E A L I T Y , M A K I N G T H E T E C H . M T B R A N D I N S T R U M E N TA L I N TA K I N G M A L TA ’ S E V E R - G R O W I N G T E C H N O L OG Y I N D U S T R Y TO T H E N E X T L E V E L .

Dana Farrugia entered the technology sector in Malta at a time when SMS messaging didn’t yet exist. In the near two decades since, she has watched the tech world grow to previously unimaginable heights, while her own career in the sector has evolved alongside it; a fitting journey towards becoming the CEO of Malta’s technology-oriented public-private partnership, Tech.mt.

never be bored, especially as learning will always be an ongoing part of the process. That is the key to success in the technology world: by appreciating its speed as well as embracing the learning curve needed to keep abreast with the latest products and systems.” Following the completion of her MBA in 2017 – a real feat considering Dana was simultaneously working with the Ministry for the Economy – Dana became the ideal candidate to head up a new promotional arm for the technology sector. “When I was appointed CEO of Tech.mt in 2019, it was just me with a logo on a piece of paper,” she shares. “But taking on the role of CEO and building the brand from the ground up has become my most career-defining moment. The milestone of forging Tech.mt has taught me that if you work hard and never lose focus of your target, then you will make it happen. Nothing is impossible.”

“I joined the technology sector when tech was still very new in Malta,” Dana recalls. “When the island’s first telecoms company was established, I applied for a junior role and worked upwards from there. I was instantly fascinated by the continuous evolution of the technology world. When I joined the sector, even SMS technology hadn’t started yet! While, today, we are looking at the possibility of robots replacing human relationships. The sector is so dynamic that I could 172

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CEO INSIGHT “By nature, I am a planner with my life set out very systematically, but the pandemic has taught me that life is not like that. I’ve learned to keep an open mind; that you can’t always control what is happening and that, instead, you need to lean into it. I have new appreciation for the value of life, human interaction and mental health, and of the importance of slowing down and doing things that make you happy. Life won’t be the same after the pandemic – and that’s OK.” 173

Taking on the role of CEO and building the brand from the ground up has become my most careerdefining moment. The milestone of forging Tech.mt has taught me that if you work hard and never lose focus of your target, then you will make it happen. Nothing is impossible.

Just a year later, Dana now leads a team of eight people who live and breathe the Tech.mt brand. Together they meet the daily challenges of the ever-evolving technology sector in Malta, which includes Artificial Intelligence (AI), blockchain, cloud software development, business analytics, robotics and quantum. “This year we needed to quickly establish the processes, relationships and company culture within the team, while also outlining the company vision and keeping up with the expectations of the Board,” Dana explains. “But the global tech sector moves and grows fast, thus so must we. We have no choice but to maximise every second of the day. It’s remarkable what can be delivered in an eight-hour working day with that mindset.” To motivate her team to achieve the focus required to reach these daily goals, Dana believes in a leadership style that is inclusive, direct and facilitates open communication. “My daily target, as CEO, is to improve and be better than the day before – and that goes for the team too. Every team member is given a chance to play to their strengths, creating a team effort

that delivers results that are greater than the sum of its parts. As a leader, part of my role is to capitalise on the strengths and differences of our teams to facilitate innovation, collaboration and commitment; to cultivate an inclusive culture that empowers a person to say, ‘I fit in here, I feel valued and I can contribute to this organisation’. Fostering trust will create confidence, inspiration and a sense of belonging that will bring out the best in any team.” Alongside teamwork and mutual trust, equality and diversity are the cornerstones of the Tech.mt ethos. “Diversity of all kinds is around us, and it is up to us as leaders to determine how to make the most of it,” shares Dana. “The technology 175

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industry has a reputation for being a man’s world. Although there have been great strides toward progress in this maledominated industry, gender bias remains an issue for many. As a woman in the tech industry, I have been fortunate not to have personally experienced these barriers – I believe a successful career should be genderless – but Tech.mt is also addressing this through facilitating the introduction of young women to the digital workplace as part of the Woman4IT project.” The many strengths of the diverse team have formed the foundation of Tech.mt as it supports sector growth and assists businesses in expanding their potential and reaching niche markets. “The local technology sector is thriving but very niche, and the demand for workers with the specific skill set it requires is not being met. Equal to our other goals of driving forward the sector through international promotion, research innovation and facilitating information sharing, we believe that education and community engagement are vital to sustain Malta’s technology sector. We aim to be instrumental in taking the technology industry to the next level, positioning Malta as a quality, creative, tech-savvy country.” And in the short time since its inception, Tech.mt has already excelled in doing exactly that. The agency was confirmed as the main highlight for ‘Tech in 2019’ in the DESI Malta Study 2020; it represented Malta during the ‘World Summit AI’ in 2019; it participated in multiple international events; it partnered with the Malta Chamber of Commerce, Enterprise and Industry – and by extension the Enterprise Europe Network (EEN) – and it was recognised in the eBusiness Awards, which celebrates the work of locally developed eBusiness solutions.

“The eBusiness Awards established an important international affiliation with the World Summit Awards in 2016, offering a global platform for those who think beyond the box,” Dana elaborates. “This is a unique opportunity for our entrepreneurs to showcase their efforts in an international contest.” With the onset of the COVID-19 pandemic in Malta in early 2020, the demands of the technology sector radically shifted again and the work of Tech.mt adapted accordingly. “We pledged our commitment to helping local businesses, the elderly and lowerincome families cope with the digital transformation COVID-19 created,” the CEO continues. “As many services have been rapidly pushed online, we have been ensuring that the elderly – who were particularly asked to isolate as a precaution – have the digital skills to complete tasks like shopping or connecting online. We have also increased the number of free WiFi hotspots across the islands and supported businesses as they explore e-commerce solutions for consumers.” In 2021, Dana continues to embrace the ‘new normal’ – and advises other business leaders to do the same. “One of our biggest accomplishments in the last year has been transforming the team, changing mindsets regarding the technology sector, and embracing and adapting to change. The key to business survival and longterm prosperity has again proven to be resilience and efficiency in order to absorb a shock and to come out of it better than the competition, while finding the silver linings and opportunities, as hard as that may be considering the human and economic toll wrought by the pandemic. But more than that, a culture of collaboration in 2021 will reestablish the momentum of positioning Malta offshore as the tech hub of choice.” 176

Quick-fire Questions… with Dana Farrugia What is your morning routine? I’m not a morning person. Did you have a hero when you were younger? I preferred cartoons with female heroes or role models. Do you have one now? Michelle Obama. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most? Social media platforms. What’s your top tip for productivity? Focus. If I gave you a magic wand, what would you do with it? I’d try to ease the struggles that many people are facing at the moment. What’s your favourite time of day? Evening. What entertained you most during lockdown? Rediscovering nature through long walks. Does your life today look different to 2019? Definitely. Today my life moves at a slower pace. Does your workplace today look different to 2019? Indeed, changing strategy made us change our positioning and direction. Is success built on hard work or luck? Hard work. What’s your top tip for running an entity in Malta? Network as much as possible – it’s an investment. What do you hope the world achieves in 2021? A culture of collaboration. What’s next for you? Effecting positive change at a national level.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “Ever since the partial lockdown, I have been sending a weekly letter to all staff, mainly to share my experience beyond the management perspective – how I spend my time, my interests, the movies, books and music I enjoy, and I’ve been receiving proposals back, which created a new kind of dialogue that goes beyond the workplace. This was my way of maintaining relationships and trying to make people feel that they belong.” 178

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Felipe Navarro

CEO, MAPFRE MIDDLESEA

“ M A I N TA I N I N G O U R L E A D P O S I T I O N I S O N L Y P O S S I B L E T H A N K S TO T H E F U L L CO M M I T M E N T O F T H E M A N A G E M E N T , C O M M I T T E E , A N D S TA F F . ”

O N M A N Y L E V E L S , 2 0 2 1 I S G O I N G TO B E A Y E A R O F C H A N G E F O R F E L I P E N AVA R R O , C E O O F M A P F R E M I D D L E S E A . W I T H A N E V E R - C H A N G I N G E CO N O M I C L A N D S C A P E W I T H I N A N D B E YO N D M A L TA ’ S S H O R E S , A S W E L L A S A N E W P O S I T I O N T O L O O K F O R WA R D TO F R O M A P R I L , H E H A S P L E N T Y O F I N S I G H T S W H E N I T C O M E S T O T H E L AT E S T I N S U R A N C E M A R K E T P R O S P E C T S . H E R E H E H I G H L I G H T S K E Y L E S S O N S F R O M T H E PAS T M O N T H S , A N D S T R E S S E S T H AT H U M A N C O N TA C T C A N N E V E R B E R E P L A C E D .

Since taking the helm of insurance company MAPFRE Middlesea in 2015, CEO Felipe Navarro has witnessed its growth from an industry leader to an undisputed front-runner in the local insurance market. Despite the extraordinary events of 2020, this hasn’t changed.

Felipe asserts that, since the start of his tenure, his aim has been to bring MAPFRE Middlesea back to high profitability, “and we accomplished this. We are a sound, well-managed and technically controlled insurance company, and this is of huge significance to us,” he says.

He insists, however, that getting the company to where it is now is not solely down to him. “Maintaining our lead position is only possible thanks to the full commitment of the management, committee, and staff. When I started my new role in Malta in 2015, we were already leading the market and right now, we are in a stronger position than when I arrived.”

As CEO, Felipe highlights his passion for working with people, especially those who are ready to service others, and he shares a strong appreciation for every staff member of the company, saying “without the involvement of everybody, and without them understanding that they are important for the company, its profitability and viability for the long term, it is impossible for us to look forward to the future.” 179

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Discussing the challenges of the role, he asserts that they are various on any given day. On one day, it could be an issue within a department and, on another, he may be dealing with a difficult personality, he says. “But whenever there’s a problem in the company and everybody comes together to try to solve it, then it becomes just a hiccup.” Looking at business performance in 2020, Felipe says that, as their half yearly report has shown, despite being exposed to the market and the slowdown of the Maltese economy due to COVID-19, MAPFRE Middlesea has remained steady – an achievement that shouldn’t be underestimated in these times. He goes on to highlight that the company’s insurance products have performed differently under the exceptional circumstances, with its biggest market, life insurance, taking the hardest hit. “The life insurance market was impacted by the change of pace in investments and this has affected the overall solvency of the Group. However, we experienced strong

performance in the non-life insurance market, namely motor insurance, partly due to a lower level of activity throughout the summer months with fewer tourists on the island, which resulted in less accidents and therefore fewer claims,” says Felipe. “On the other hand, we are finding that some of our commercial clients and SMEs are struggling, and we are trying to adapt to this new reality,” says the CEO. “Insurance companies are counter-cyclical and tend to perform well in a crisis or economic downturn, as demand for our services doesn’t stop. Nonetheless, there will be challenges, such as getting clients to renew their policies, and adapting to the real needs of the client and their financial situation at the time.” Felipe recalls that 2020 was off to a solid start with strong growth levels in January and February, but everything changed in March and April. That’s when selling or renewing policies became more challenging than they could have anticipated. “In terms of sales, 2020 will be a repetition of 2019 and we hope that, if the economy bounces back as the Central Bank of Malta is projecting, we will return to levels of growth that we are used to in 2021.”

Whenever there’s a problem in the company and everybody comes together to try to solve it, then it becomes just a hiccup.

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Beyond its profits and losses, the CEO adds that another major challenge the company had to face in recent months was the sudden overhaul of its set-up, to ensure that business could continue after COVID-19 struck. “Once in partial lockdown, we had to deploy many new tools to ensure that we maintain a relationship with our clients, and to provide them with enough flexibility to communicate with us. Most clients adapted to the new digital reality quite quickly,” he explains. “Internally, we had 95 per cent of our staff ready and set up to work from home within one week, so we were back to business in no time. We believe this reflected the commitment of the team, the trust of our clients, and the flexibility of the technology we’re using.”

Quick-fire Questions… with Felipe Navarro What is your morning routine? I say good morning to my wife and children, listen to the news on the radio and try to have breakfast as a family before everyone leaves the house.

Undoubtedly, 2020 has gone down for many as a year of personal and professional hardship, a time of immense change and adjustment, during which time, good leadership has not only been needed, but valued and appreciated. From his experience of leading a team in a time of crisis, Felipe reflects that while staff worked well remotely, there was a noticeable disengagement between teams.

Did you have a hero when you were younger? Not really, but if I had to pick somebody it would be my father. Do you have one now? There are people I admire, such as Pope Francis, who is an example of openness and sincerity, and Rafael Nadal – a very humble and hard-working man. Where did you work from during lockdown? My home office.

“We noticed that teams started to lose that sense of belonging, and we tried to stress internal communication between and within teams to ensure that everybody knew they were important and needed at that point in time,” says the CEO.

Zoom calls or in-person meetings? In-person, without a doubt. What tool (online or otherwise) do you use most in your business? Email, and lately video conference tools.

2021 will be a year of even more change for Felipe, who will be moving on from his role as CEO in April, to assume the role of Assistant General Manager for Administration in MAPFRE Spain. Reflecting on his tenure in Malta, he says one of the most valuable outcomes from his time here is how much he’s grown and matured as a CEO, and even more so as an individual, thanks to the various challenges he’s faced and the many people he’s had the opportunity to cross paths with over the last five years.

What’s your top tip for productivity? To have a well-managed agenda and be prepared before meetings. If I gave you a magic wand, what would you do with it? To make the day longer – I could use at least four or five more hours a day. What’s your favourite time of day? The morning for work, and the evening to spend time with my family. What entertained you most during lockdown? A weekly Zoom call with a group of friends, where we discussed a documentary that someone would have recommended.

Meanwhile, shifting focus to insurance market prospects for the coming months, Felipe is certain that Malta has room to grow in this sector. “I believe there are opportunities for Malta to service other countries and increase its capacity as an insurance market for the rest of Europe, particularly southern Europe and even north Africa,” he asserts. “However, such opportunities depend on other developments, namely passing the Moneyval assessment, as without a positive outcome, the country will have big challenges ahead of it.”

Does your life today look different to 2019? Why? I communicate with people differently, I no longer travel, and social distancing has completely changed how I work. Does your business today look different to 2019? Why? Business looks more or less the same. Is success built on hard work or luck? A lot of hard work, but nothing happens without a little bit of luck.

As for the prospects of MAPFRE Middlesea in 2021, Felipe says the company is committed to further strengthening the service it offers to its customers. “I believe we can continue to improve our quality of service – there is always more to be done in this area. We are already renowned for our service, such as our roadside assistance, but we can continue to do better and be what our clients expect an insurance company to be. This, along with our constant drive and ambition, will ensure that we continue to be the market leader in Malta.”

What’s your top tip for running a business in Malta? To listen and understand people’s needs. What do you hope the world achieves in 2021? To eradicate COVID-19 – firstly to save lives, and because economically, we cannot afford to have another year like 2020. What’s next for you? Giving a handover to the new CEO in the coming months and getting acquainted with my new position in Madrid.

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Dino Fino

CEO, DINO FINO HOME + CONTRACTS

“ 2 0 2 0 TA U G H T U S T O B E R E A D Y F O R ANYTHING, AND WE WERE.”

W H E N D I N O F I N O L E F T H I S E S TA B L I S H E D F A M I L Y B U S I N E S S I N 2 0 1 7 T O S TA R T H I S O W N F U R N I T U R E R E TA I L C O M P A N Y , H E W A S D E T E R M I N E D T O C R E AT E A B R A N D T H AT W O U L D R E S O N AT E W I T H T H E Y O U N G E R P O R T I O N O F T H E M A R K E T A N D H I G H - E N D C O M M E R C I A L C O N T R A C T O R S . T H AT V I S I O N H A S L E D TO S U CC E S S I N A S H O R T P E R I O D O F T I M E A N D H E I S O N T R AC K TO ACHIEVE SOME VERY AMBITIOUS GOALS IN THE NEXT COUPLE OF YEARS.

Dino Fino is both a man and a brand; a name synonymous with furniture retail in Malta. He started his career in his well-known family business, C Fino & Sons Ltd, as a sales consultant when he was 17 and he loved the sector instantly. So much so that he was hooked from the get-go, quickly relinquishing any former ambitions to become an architect.

Dino made that move three years ago, originally going into partnership with another investor. But he finally bought them out a few months ago and is now sole owner as well as CEO. “I am elated that the company is finally all mine,” he smiles. “Of course I now have full responsibility, which puts some added weight onto my shoulders. But I also love the fact that I am able to drive all aspects of our strategy and guide my fantastic team. It’s a very exciting time.”

Dino worked in that business for over 20 years and, while he learnt volumes, he admits it had its ups and downs. “Working with family isn’t easy,” he says. “Especially when things are complicated, with a large number of shareholders and Board members. In such a fast-moving sector as retail, I felt that decisions needed to be taken quickly as, otherwise, opportunities would pass us by. Eventually I knew I had to move on. The switch to setting up my own business was a search for freedom, and I believe I have achieved that.”

Describing his role today, Dino says he considers himself a colleague. “Above all else I like being on the ground with my team, rather than in an office giving orders. I love that I get to be the leader of an amazing group of hardworking people.” He’s also very strategic about his use of time: Monday is always dedicated to internal meetings and setting 182

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“I give my team enough space to express their abilities, but they know they can always come to me if they need guidance. I tell my team that they need to try to succeed and not to worry if they make mistakes on the way. Mistakes are the best way to learn and improve.”

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If we are quoting for something, then our goal isn’t to take our client’s money but to ensure they have a

The CEO describes the brand as ‘young and fresh’, with a vision that is attracting younger clients. His showroom’s location on Valley Road – following on from its original base in Hamrun – has also been a plus-point. “Today we cater for those clients who are doing up their home, as well as for contract clients working on a hotel or commercial project. The sectors are quite separate; we have a residential sales department, and a contract office for B2B work. We have eight salespeople in total, supported by admin staff and management, and I am thrilled with the strong team we have curated.”

very positive experience from start to finish. Everything we do has to reflect our name and reputation.

the agenda, while Tuesday to Saturday he is on the ground with the sales team. Dino believes in structure and says it has really shaped the way things have developed across the company. And it certainly seems to be working, as Dino Fino Home + Contracts has grown quite substantially in the three short years since it was launched. 184

Together, Dino says this team focuses on customer satisfaction above all else. “If we are quoting for something, then our goal isn’t to take our client’s money but to ensure they have a very positive experience from start to finish. Everything we do has to reflect our name and reputation. I chose to use my own name as the brand because I wanted it to feel personal, and for our clients to know there is a real person behind it who wants them to be happy. I believe this commitment is paying off because, while we started from nothing, we have

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

reached a level of turnover that shows just how much of the market we have managed to capture in three years. I am very pleased with the results.” In fact, despite the obvious challenges of the year, Dino says his company has achieved considerable growth in 2020. While the pandemic has created undeniable misery for so many – a fact he hugely regrets – he says it has also made businesspeople aware that continuous economic growth isn’t sustainable. “Just because last year was good doesn’t mean next year will be too,” he continues. “It’s taught us to be ready for everything. We realised the value in having time to sit, think, restructure and plan. We have learnt a lot and it has made us stronger.” The CEO’s own role changed too, with him spending fewer hours in meetings or weeks overseas and more time in the office or showroom. “I spent more time with the team and got to know them better,” he goes on to say. “They knew I was there with them, working through the crisis when it hit and not sitting in my office upstairs. I think that was important.” One surprise of the period came from an operational shift that saw the showroom open for shorter hours: 10am till 6pm, as opposed to 9am till 7pm. “We shortened our hours during the pandemic and have decided to keep them that way. Our clients have adapted, and it’s actually helped our bottom line. Plus, our staff have more time at home, which makes them more invested when they are at work. It’s a win-win.” Online opportunities were also created. For instance, clients were able to have online consultations with the Dino Fino staff even during lockdown, and this has continued. “Beyond that, our staff were also able to receive training online from our foreign suppliers, which meant they could keep up-todate on the latest product developments. On top of that, the company also launched its online shop, giving customers the choice to both plan their décor and buy their furniture online. Our significant digital development has been a definite plus,” the CEO says. Dino predicts this development will be important for 2021 too, as the world continues to adapt to recent changes, more people choose to telework, and less offices are built. “Contract work will be reduced, but there are opportunities in other areas,” he enthuses. “People are looking for quality more than ever and we are able to provide it. We have so many plans in place – both for our own growth and development as a company, and for the clients we service. It’s definitely going to be a busy and exciting year.” So it seems there’s no holding the young and vibrant Dino Fino Home + Contracts brand back, and the CEO’s own plan is to forge ahead with more energy and determination than ever. “Since 2017, my vision for this company has been to make it one of the top three furniture retailers in Malta by 2022. We’re now two years away and there’s lots to be done, but I believe it can be done. 2022 is firmly in sight,” he says with a smile. 185

Quick-fire Questions… with Dino Fino What is your morning routine? A 5am jog and some time with my children. Did you have a hero when you were younger? My father. I now know and understand why he worked so hard. Do you have one now? My house is full of superheroes. My children love them! Where did you work from during lockdown? A mix of home and the office. Zoom calls or in-person meetings? I prefer Zoom calls, as you can achieve more. But the nature of our business means in-person is important. What tool (online or otherwise) do you use most in your business? WhatsApp. What’s your top tip for productivity? Focus on the job at hand and not on what you need to do next. If I gave you a magic wand, what would you do with it? Add more hours to the day. What’s your favourite time of day? Early morning before everyone gets to the office. What entertained you most during lockdown? My kids, Federica (8) and Beppe (5). Does your life today look different to 2019? In 2019 we complained about being late, and in 2020 we complained that we couldn’t meet. Does your business today look different to 2019? We are definitely more organised thanks to the time we had to think and plan. Is success built on hard work or luck? Nothing comes for free. If you work hard, you will get luckier. What’s your top tip for running a business in Malta? Networking is key. What do you hope the world achieves in 2021? Better leaders. What’s next for you? Building on the good the company has achieved so far.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Anton Buttigieg

CEO, T R A D E M A L TA

“ M A L TA M A Y H A V E A S T R AT E G I C A N D L O G I S T I C A L A D V A N TA G E I N T H E C O M I N G Y E A R S , REGARDLESS OF OUR SMALL SIZE.”

E S TA B L I S H E D I N L AT E 2 0 1 4 , T R A D E M A L TA I S A P U B L I C - P R I V AT E P A R T N E R S H I P B E T W E E N T H E G O V E R N M E N T O F M A L TA – U N D E R T H E REMIT OF THE MINISTRY FOR THE ECONOMY AND INDUSTRY – AND T H E M A L TA C H A M B E R O F C O M M E R C E , E N T E R P R I S E A N D I N D U S T R Y . A S C E O , A N TO N B U T T I G I E G L E A D S T H E E X E C U T I V E T E A M I N S H O WC A S I N G M A L TA A S A B U S I N E S S H U B O F E X C E L L E N C E , W H I L E S U P P O R T I N G M A L TA - B A S E D B U S I N E S S E S A S T H E Y TA K E T H E I R F I R S T S T E P S I N T O T H E I N T E R N AT I O N A L M A R K E T.

A fascination with the dynamics of international trade, coupled with an aptitude for the mechanics of business management, forged the foundations of Anton Buttigieg’s career early on. “I have always enjoyed following how markets operate around the world, so learning more about economics and business management seemed a natural choice,” he shares. Following his graduation from the University of Malta in 2000 with an Honours Degree in Economics, Anton

refined his skills with a Master’s Degree, achieved a little further afield. “In 2004, I gained my Master’s Degree in International Economics and Marketing, specialising in industry analysis, from SDA Bocconi School of Management, Milan – a business school renowned for empowering people to transform themselves and so drive the future of organisations and communities the world over.” Having had such a front-row seat throughout his studies to the substantial impact individuals and 186

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“I’ve always had the ability to switch off completely from work when I’m home and around my family. Obviously, there are still lots of distractions – especially if your phone is next to you, which can be very tempting. But if I don’t manage to take these regular breaks, I won’t function to the best of my abilities when back at work, not to mention missing out on precious time spent with my family. Time off is a win-win for everyone.”

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There are many factors that have allowed Malta’s economy to thrive thus far. Malta offers a diverse range of expertise in varying sectors, with a largely Englishspeaking workforce, an attractive climate and an easy Enterprise and the Chamber of Commerce,” Anton explains. “But I saw this as a start-up opportunity, in that the TradeMalta brand had yet to be expanded and promoted. However, at that time one of my main priorities had to also be ensuring a smooth transition for every individual and business that was already receiving support, so that they would be cleanly and fully embraced by the new TradeMalta brand.”

lifestyle – all of which attracts many foreign investors.

businesses can have on global commerce – and, by extension, upon society in general – Anton began pioneering his own similar transformation back in Malta. Initially working as an Economist at the Central Bank of Malta, his colourful career has also included stints as a Management Consultant with market research and training firm MISCO, as Business Development and Administration Manager at Panta Marketing and Services Ltd, and as Operations Director with Business Leaders Malta. Then, in 2015, mere months after TradeMalta was established, Anton was offered the position of CEO at the budding organisation designed to offer a springboard for Maltese businesses to launch into foreign markets. “When I became CEO at TradeMalta, I had the privilege of finding a team that was already operational, with some team members having migrated over from the previous entity of Malta 189

Anton also quickly set about moving the organisation from being paper-based to becoming almost entirely paperless, opting instead to engage further into the digital world that he believes better serves the needs of TradeMalta clients. “Going digital has enabled us to be better facilitators between Malta-based companies and others internationally. I like to think of TradeMalta as a matchmaker between local businesses and those across the globe – we build the bridges through extensive networking that they can then choose to cross towards internationalisation.” In fact, one of Anton’s favourite aspects of his role as CEO at TradeMalta is that it affords myriad opportunities to connect with people both in Malta and worldwide. “I love meeting people, hearing their stories and helping them to improve,” he shares. “Even more so, there is great satisfaction when we have facilitated an exchange between a successful local company and someone overseas who can help them achieve the results they want. Our ability to do that has inspired people to recommend our services and has kept them coming back to us for our assistance repeatedly over the past six years. I am outrageously proud of our team here, which works so hard and

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

with such dedication to make such incredible successes happen.” And Anton’s approach to leadership is made far simpler by heading up such a great team, he says. “I am one of the lucky leaders. Someone who leads needs to be surrounded by good people, as I certainly am. But the role of a leader is to provide that team with a clear vision of what they need to achieve, along with the right tools to allow them to perform at their best and plenty of leeway to let them finish a task or solve a problem their own way. My job is to share with them where we need to go and then move out of their way so that they can get there. People tend to be happier working in a live-and-let-live environment such as this. The success of this approach is shown in the team’s motivation to give their best and in the work they produce as a result – if there’s a will, there’s a way!” This busy team of dedicated professionals provides a wide portfolio of services that enable local businesses to explore opportunities outside of their comfort zone and establish partnerships in non-traditional markets. Through the team’s efforts, TradeMalta is also responsible for strengthening the island’s reputation from a commerce perspective across Europe and beyond. “Europe will always be our largest trading market,” shares Anton. “However, often overlooked is the fact that there is a huge continent to the south of Malta as well, with a market of some 1.3 billion people there. We are moving fast in pursuing the huge opportunities available throughout Africa, but so is most of the rest of Europe, so Malta may have a strategic and logistical advantage in the coming years, regardless of our small size. Just because we are a small country, doesn’t mean we can’t do business with larger countries, or that they are not willing to do business with us.”

And Anton predicts Malta’s own strong economic outlook will also continue to make the island a key player on the world’s business stage in the future. “There are many factors that have allowed Malta’s economy to thrive thus far. We built our economy from scratch after we became independent, so we have the human resources willing to adapt, train, upgrade their skills and grow. Likewise, Malta offers a diverse range of expertise in varying sectors, with a largely Englishspeaking workforce, an attractive climate and an easy lifestyle – all of which attracts many foreign investors.” Yet, like that of every other country and industry in the world, Malta’s economy took a hit with the arrival of the COVID-19 pandemic. “There was an inevitable slowdown in our economy, as we are a part of a larger global economy that was also feeling the effects of the pandemic. The whole world was in recession and Malta is not immune to that,” Anton continues. “Nevertheless, the use of technology has opened many doors, particularly in terms of research and in people being more receptive to requests to connect. Plus, there are exciting times ahead particularly in the ICT sector, I believe, thanks to the new tech start-up opportunities being spotted and seized by young entrepreneurs everywhere.” And that may not be the only positive outcome of the pandemic, as TradeMalta embraces the ‘new normal’ in 2021. “We had to adapt quickly to the new realities brought about by the pandemic in our own processes – and so did everybody else. On an international level, progress was made at an unprecedented pace. The pandemic pressed fast-forward for international trade and TradeMalta will continue to work and innovate to keep Malta punching above its economic weight, both locally and internationally,” concludes Anton.

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Quick-fire Questions… with Anton Buttigieg What is your morning routine? Shower, breakfast, take my daughter to school, then off to the office. Did you have a hero when you were younger? Bugs Bunny (he always got his way!) Do you have one now? I don’t have one. Where did you work from during lockdown? From my kitchen table. Zoom calls or in-person meetings? In-person, when possible. What tool (online or otherwise) do you use most? Outlook and LinkedIn. What’s your top tip for productivity? Focus and prioritise. If I gave you a magic wand, what would you do with it? Teleport. What’s your favourite time of day? Evening – I’m a night person. What entertained you most during lockdown? Spending time with my wife and daughter. Does your life today look different to 2019? I used to travel constantly, but I haven’t been on a plane in months. Does your workplace today look different to 2019? Very, as now we work remotely. Is success built on hard work or luck? Hard work with a sprinkling of luck. What’s your top tip for running an entity in Malta? Go out and meet people. What do you hope the world achieves in 2021? Some sanity. What’s next for you? I love what I do, so I’m going to keep doing it. .

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Rick Hunkin

CEO, B A N K O F V A L L E T TA

“ B Y T H E E N D O F 2 0 2 1 , I L OO K F O R WA R D TO R E F L E C T I N G ON A MUCH EASIER YEAR THAN 2020.”

AS THE OLDEST FINANCIAL SERVICES PROVIDER ON THE ISLAND, BANK O F V A L L E T TA H A S N E A R L Y 2 , 0 0 0 E M P L O Y E E S A N D A S S E T S A M O U N T I N G T O € 1 0 . 6 B I L L I O N . D R I V I N G T H AT P O R T F O L I O A N D I T S 2 0 1 9 P R E - TA X P R O F I T O F € 8 9 . 2 M I L L I O N I S R I C K H U N K I N , A C E O E N T H U S E D B Y TA K I N G C H A L L E N G E S A N D T U R N I N G T H E M I N TO S U CC E S S E S .

The start of 2020 marked a major milestone for Maltese banking giant Bank of Valletta, when it appointed its first CEO from outside its ranks – Rick Hunkin.

plays such an important role within its own market. It is absolutely critical to the economy and plays a significant part in so many lives here. So, aside from the excitement of the challenge itself, I was also enthused by the significance the bank has and eager to help safeguard that.”

It was a landmark moment for Rick too, who was just settling into the position when the COVID-19 pandemic hit, casting many of the bank’s carefully laid plans into disarray and presenting him with his first challenge very early on. But more on that later.

Rick has always had a hunger for learning and growth. Throughout his career he sought opportunities that would help him develop, and that approach led him on a fantastic professional journey at institutions in the UK, New Zealand, Asia, the US and now Malta. “I never expected my career to take the twists and turns it has,” he says warmly. “I have worked with people from all over and across all strata of society – from government to royalty. My passion to keep experiencing the best that my career could offer meant I didn’t stop educating myself for a single moment.”

For Rick, his role is all about vision and delivering on it in a sustainable way. To him, success comes down to setting a clear direction for BOV and making sure the bank is at its best for its customers, staff and stakeholders. “I love a challenge,” he smiles, while explaining his journey towards accepting this important position at BOV. “I visited the island a number of times and really got to know the bank before I accepted. I have worked in numerous big banks in the UK – some 10 or 20 times the size of BOV – but I have never experienced a bank that

The CEO certainly brings a wealth of international and banking experience to the table, from both the retail 192

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CEO INSIGHT “We need to take cash out of society. Malta has a high rate of cash usage, which brings potential for money laundering. As a bank, we are automating and digitising as much as possible to move this process forward. As it improves, we will be able to serve our customers’ needs better when it comes to the most important things – lending, savings and investments.” 193

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and corporate sectors. He has extensive expertise in retail banking, mortgages and savings, risk management, change programmes and corporate governance infrastructure and, prior to joining BOV, was the Chief Risk Officer of Chetwood Financial. Before that he also occupied senior management positions at GE Money, Northern Rock, Tesco Bank, Williams & Glyn (Royal Bank of Scotland) and Provident Financial. “I do have a few grey hairs from all of that,” he smiles again. “But it’s taught me everything I need to lead going forward.” And it’s that learning that has doubtlessly helped Rick to jump into his role at such a critical time. After all, he was barely in his position for two months before COVID-19 took hold locally and upended all plans. In response to that, Rick immediately focused on helping his team and their customers weather the 2020 storm. “We know some of our customers have struggled to survive,” he says, “and we have put proactive strategies in place to help them as much as possible.” And although this is the first pandemic Rick has managed in his career, this is not the first crisis of his time. “When

you’re in banking for 40 years like I have been, crises come and go. I have learnt that the key thing is to adapt to think about the needs of your customers and staff as soon as possible, which we did immediately. My key concern was to make life as easy as it could be despite the difficulties of the period.” Now, with yet another learning chapter under his belt and the hope of a more settled 2021 in sight, Rick plans to lead BOV into its next chapter. This will include the implementation of the BOV 2023 Strategy that has been designed to make it a more resilient and more profitable bank: better, simpler and faster. “There are three pillars to that,” the CEO continues. “Our first is dedicated to the digitalisation of our products and services so that we can simplify internal processes and make it easier for customers to transact with us; it is very much at the heart of the strategy. We need to adapt to deal with the changing way in which people interact with their bank these days. “Then, the second pillar focuses on the rebalancing of our balance sheet. We know that interest rates on deposits will remain low on a global scale, and this means our customers won’t get the rate of return that they might

I have never experienced a bank that plays such an important role within its own market. BOV is absolutely critical to the economy and plays a significant part in so many lives here in Malta.

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hope for for a while. Then, at the same time, the bank incurs a huge cost when depositing these funds with overseas institutions. We will guide a segment of our customers to achieve a better balance in their portfolios by helping them to identify alternative investment products that give them better returns than their deposit accounts. These considerations will of course be proposed within the risk profile of the customer.

Quick-fire Questions… with Rick Hunkin

“And, finally, our third pillar relates to improving our customer experience by reforming unnecessarily long and complex processes, and updating systems that do not usefully support customer interactions. We have already started making changes and you’ll see further changes in the coming months,” he explains.

What is your morning routine? I go through my iPhone to catch up on messages. Then it’s coffee, the news and straight into work quite early. Did you have a hero when you were younger? I played rugby growing up, so anyone on the England rugby team.

Meanwhile, he doesn’t downplay the impact COVID-19 has had on Malta, and admits it has likely set the economy back a number of years. “The pandemic will probably have the biggest bearing on our lives since the Great Depression, if not worse,” he says. “I believe it will cause a big reset and I don’t expect there to be a massive global rebound for the next few years at least. I do think Malta will have opportunities to recover quicker but that will depend on how the next few months pan out with COVID-19. Thankfully, the island has shown its resilience and I hope that will hold out long enough for us to avoid a surge of business failures or an explosion of personal customer indebtedness.”

Do you have one now? There are lots of people I admire and respect, including people who have guided me in my career. Where did you work from during lockdown? A little room off our hallway became my impromptu office. Zoom calls or in-person meetings? I prefer in-person meetings every day of the week, but it doesn’t mean I would choose them in place of safety. Safety comes first. What tool (online or otherwise) do you use most in your business? Search engines to read international press and global banking magazines.

Rick also places great importance on Malta’s ability to improve its reputation going forward. “In my first local interview, I was called out for citing Malta as ‘high-risk’ – almost as if I’d broken a seal because no one in my sector has said it so blatantly before. But the island is high risk; that’s the reality. It is critical that Malta comes through Moneyval without being grey-listed, and that it shakes off the negative perception around it. To improve the situation, the Government, political parties, banks, regulators and even individuals will have to work together to earn a better reputation. I think it can be done, even though we don’t know what the Moneyval outcome will be yet. At BOV specifically we have made massive strides forward and I know many other institutions are committed to putting this right. Frankly, we have to.”

What’s your top tip for productivity? Keep it simple, especially when it comes to processes. If I gave you a magic wand, what would you do with it? Whisk the family away to an Indonesian island for a month. What’s your favourite time of day? 8 or 9pm, when the day’s work is done and I can find an hour to relax. I am not a morning person. What entertained you most during lockdown? I resorted to Netflix. Does your life today look different to 2019? My goodness yes. I was in the UK a year ago, at home with family. I miss the kids, grandkids and dogs. Does your business today look different to 2019? Even COVID-19 aside yes, thanks to de-risking further and building a stable base on which to move forward.

Meanwhile, Rick looks towards what he hopes will be a better 2021. “Firstly, I hope it will be free of COVID-19, because that will provide opportunities for everybody.

Is success built on hard work or luck? Hard work. My path’s been grafted out rather than gifted out.

“That aside and speaking about BOV specifically, I already have Board approval for some major, strategic improvements to the bank that will come to light in the months to come. As per our 2023 Strategy, we are getting ready to redesign so many of our customer processes and digitise to take them forward.

What’s your top tip for running a business in Malta? Move to digital and keep costs down. What do you hope the world achieves in 2021? A return to some sort of normality, with less distress – financial or otherwise.

“Finally, by the end of 2021, I look forward to reflecting on a much easier year than 2020. I hope to have cemented our new frameworks so that everyone – from our customers and our staff to the wider stakeholders – will have growing faith in the future sustainability of BOV,” he concludes.

What’s next for you? Short-term, to get to the UK for a few weeks and to work from home with my family nearby.

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Michelle Piccinino

CEO, ENVIRONMENT AND RESOURCES AUTHORITY

“ M Y P H I L O S O P H Y I S TO E M P O W E R T H O S E A R O U N D M E A N D T O S H A R E K N O W L E D G E . C O N S U L TAT I O N I S I M P O R TA N T , B U T W H E N A D E C I S I O N I S R E Q U I R E D , I T M U S T B E TA K E N . ”

S E T U P T O S A F E G U A R D A S U S TA I N A B L E Q U A L I T Y O F L I F E , T H E E N V I R O N M E N T A N D R E S O U R C E S A U T H O R I T Y I S M A L TA ’ S N AT I O N A L R E G U L AT O R F O R T H E E N V I R O N M E N T. C H I E F E X E C U T I V E O F F I C E R P E R I T M I C H E L L E P I C C I N I N O I S R E S O L U T E L Y P A S S I O N AT E A B O U T A C H I E V I N G T H AT O B J E C T I V E , A N D S H E TA K E S A N O - N O N S E N S E A P P R O A C H T O G U I D I N G B O T H H E R T E A M A N D T H E A U T H O R I T Y ’ S M A N Y R E L AT E D S TA K E H O L D E R S .

“I had no idea I would end up here,” she smiles when asked about her role and her path towards it. “As an architect by education, I had dreams like all young people do and planned to have a firm of my own one day. I was actually more interested in creating better urban spaces than anything else, and was excited about being a perit so that I could contribute towards better and more liveable urban environments for our neighbourhoods.”

Never has the environment been so critically high on the agenda – not just locally, but internationally. As the risks of climate change continue to feel evermore pressing and the global conversations about what must be done to safeguard our planet get ever louder, policy-makers and environmental leaders across the world are working hard on long-term solutions. Locally, Michelle Piccinino is one such leader. As the Chief Executive Officer of the Environment and Resources Authority (ERA), she is the person vested with the responsibility of a public entity to protect ‘the most valuable asset the country has’, and she is there to offer guidance and technical advice to policy-makers and decision-takers on the topic of environmental protection and planning.

Upon graduating, though, Michelle took on her first of several positions with the then Malta Environment and Planning Authority (MEPA). This included being a member of advisory bodies that coordinated large-scale projects of national interest, as well as representing MEPA on various boards and committees. 196

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“I am the one to challenge things; I don’t take ‘no’ or ‘it can’t be done’ as answers most of the time. I demand professionalism and commitment. Yes, that can be interpreted as stern, however I am very tolerant and flexible as long as deliverables are achieved. We have an important job to do and I want to make sure that it gets done.”

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Decisions are hard to take, especially when different stakeholders have diverging opinions. However, my chief concern is to safeguard the interests of the environment. I will make every effort to explain our decisions, especially as we follow through on the National Strategy for the Environment 2050 and further

Soon after the 2013 election, the decision was taken to split MEPA. “At the time, environmentalists felt that the environment wasn’t given due importance, while those in the development sector claimed that environmental concerns were holding back decisions on development and planning,” Michelle explains.

invest in the digital sphere.

“Thus, the setting up of ERA gave a stronger identity to environmental regulation. And, since then, there has been a marked increase in jobs and investment related to the environmental sector at policy-making level. ERA has grown substantially too, and now employs over 230 officers. It has simultaneously built its regulatory role by establishing itself as the environmental permitting Authority with an enforcement arm and by giving direct input into various policy and legislative documents. ERA has had a crucial part to play in Malta’s EU Council Presidency and in the negotiations on the environment acquis.”

statement,” she continues. “It also required the fostering of new relations with other entities and the integration of environmental aspects into other decision-making spheres. “Huge strides forward have been made but, as yet, our work is not done. To be honest, it’s very difficult to say that we will be ever done – partly because there’s always room for improvement within the Authority to handle the ever-changing pressures on our natural environment, but also because science and data drive our policy-making processes. That in itself will always bring with it new challenges.”

Michelle says ERA’s function has greatly matured in the last few years. It grew healthily from a Directorate within an Authority, into the main regulatory Authority for environmental protection. Its achievements have been varied, such as the launch of the Natura 2000 Management Plans in 2016, the compilation and publication of the State of the Environment Report for Malta in 2018, various strategies such as the Single-Use Plastic Strategy, and the Strategy for the Control of Invasive Alien Species, designation of protected areas and the launch of the National Strategy for the Environment: Wellbeing Vision 2050, at the end of 2020.

Michelle has obviously been central to the Authority’s development so far and she says it is her strategic approach that has helped her to lead successfully. “Whatever the challenge I have, I always strive to consider the bigger picture,” she explains. “My philosophy is to empower those around me and to share knowledge. I keep myself involved both on the technical and the administrative matters while doing so. I also enable those around me to take the lead. Consultation is important, but when a decision is required, it must be taken. Unfortunately life shows us that it’s better to take a wrong decision in good faith than taking no decision at all.”

“These achievements required serious investment in ERA’s resources to ensure it could sustain its mission 198

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Of course that approach isn’t without its challenges. Michelle explains the many stakeholders involved mean there are many conflicting views to contend with. “That’s why I focus on the bigger picture and not the single challenge that has been brought to my attention,” she continues. “Yes, it has its difficult moments, but I love bringing different people together to make something happen. The results are usually worth it.” One such result was the launch of the Environment Resources Information System (ERIS), an online system that makes it easier for the public to apply for environmental permits for their operations or activities. This is still in its infancy but it is a first step in the direction to ensure good governance and to increase transparency. “The COVID-19 experience has made us realise the importance of further enhancing and simplifying our user interaction,” the Chief Executive Officer continues. “We have also launched our new website which has lots of improved e-tools, such as a new payment gateway for fines, enhanced live air-quality monitoring, and access to all the relevant public consultation processes led by the Authority and the Malta Environment Platform and Services (MEPS), which is a geoportal with all the environmental information available to the Authority. We’ve also added lots of educational audio-visual material and a customer care platform.” This digitalisation exercise was actually critical to ERA’s handling of pandemic-related challenges, and Michelle hopes that the positives achieved in this area in recent months will continue. “All our staff are equipped to be able to work from home now, and during the pressing moments of the pandemic, management encouraged staff to do so as much as possible,” she explains. “Clients also interact with us differently and are given a choice as to what will work for them, such as a phone call, online solution, or even coming into our offices to use one of our laptops here. COVID-19 really was the push we needed to go digital and the results have been fantastic. It’s been proven how much can be done well online. Plus, it’s better for the environment to have fewer cars on the road, making it a win-win situation. Accelerated digitalisation is definitely the silver lining to all of this.” Thus, with these new steps forward in online living and working, plus with the Wellbeing Vision for the National Strategy now launched, Michelle is hopeful about the future of the environment in Malta. “Yes, the strong economy we’ve experienced in recent years has impacted the environment substantially, but all is not lost. More than ever – thanks to social media and other modes of education – we understand the value of the environment and our role in protecting it, and things are changing. We are seeing increased environmental sensitivity across every sector and that’s commendable.” As for her own future at the helm of such an important Authority, Michelle says she will be putting more focus than ever on boosting communication channels with all related stakeholders. “Decisions are hard to take, especially when different stakeholders have diverging opinions. However, my chief concern is to safeguard the interests of the environment. I will make every effort to explain our decisions, especially as we follow through on the National Strategy for the Environment 2050 and further invest in the digital sphere. “With that in mind I would say that, yes, Malta is on course to have a good environmental future, where everyone understands and is invested in the importance of a healthy environment. I think COVID-19 has opened our eyes in ways we couldn’t previously have imagined and we know more than ever that our environment is critical to our own survival. We need tangibles to achieve that and it is now time to deliver,” Michelle concludes. 199

Quick-fire Questions… with Michelle Piccinino What is your morning routine? I shower, have a mug of tea and look at the agenda for the day. Did you have a hero when you were younger? As the youngest of six siblings, I always had someone to look up to. My brother graduated well before I did and proved I could do it as well. Do you have one now? Barack Obama as a leader; Greta Thunberg as an inspiration. Where did you work from during lockdown? The office and my home. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most in your business? Too many online ones to mention! What’s your top tip for productivity? Clear deliverables. If I gave you a magic wand, what would you do with it? Create greener and better neighbourhoods. What’s your favourite time of day? Early morning. What entertained you most during lockdown? Family walks and cooking. Does your life today look different to 2019? It doesn’t really. Does your business today look different to 2019? Yes, I am in a completely different role. Is success built on hard work or luck? A lot of hard work but luck helps. What’s your top tip for running a business in Malta? Be focused; keep yourself updated. What do you hope the world achieves in 2021? Resilience. What’s next for you? Hopefully something different but I wouldn’t mind staying in the environmental sector.

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CEO INSIGHT “It’s the difficult moments that make you in business. As a company we are successful because we have been through those difficult moments. They have tested us but we have made it to the other side. It’s like fitness training; today you can lift 10kg and tomorrow you’ll be able to lift 20kg. You keep working, trying and learning.” 200

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Andrei Grech

CEO, AG GROUP

“ M Y P L A N I S TO W O R K H A R D E R A N D S M A R T E R , A N D TO R E M A I N O P E N T O E V E R Y O P P O R T U N I T Y T H AT C O M E S M Y W A Y . ”

F R O M M E C H A N I C A L A N D E N G I N E E R I N G W O R K S T H R O U G H TO M A I N T E N A N C E , T R A D I N G A N D E V E N F U M I G AT I O N S O L U T I O N S , AG G R O U P H A S G R O W N TO B E CO M E O N E O F T H E M O S T T R U S T E D CO M PA N I E S I N T H E S E C TO R . A S I T S F O U N D E R A N D C E O , A N D R E I G R E C H E X P L A I N S T H I S I S N O ACC I D E N T – B U T DO W N TO H I S A N D H I S T E A M ’ S B O U N D L E S S E N E R G Y F O R G R O W T H , I N N O V AT I O N A N D OPPORTUNITY.

sharing his knowledge is critical to the company’s success. “The more we all know, the more we benefit,” he stresses.

Andrei Grech belongs to the category of CEO that has crafted his company completely from scratch. He started his career as an electrician with just one assistant, and has since grown his company to a 70-strong, multi-skilled team.

Reminiscing about the early days of his career, Andrei says he was always interested in the electrical side of things. By 16 he was already tinkering on basic projects and, by 19, he was employed as a foreman. “That’s when I decided to do my own thing,” he remembers. “I started to be more productive and proactive, and things grew very organically. I found I could handle having a

It was his early days in the business that taught him everything, Andrei says – from how to design an effective system to how best to organise the accounting aspect. He learnt how to be an allrounder, and he has since passed this approach on to his management team because, for him,

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We’ve grown to the point that we handle many of the major projects on the island; we’re almost always shortlisted for – or go on to win – the top jobs, and we have clients who have been engaging us for the full 16 years we have been operational.

number of projects on the go and it quickly grew from a job to a business. I have never looked back, and I think our success today stems for the passion we bring to the sector and the fact we really love what we do. That love made us want to be the best, and then it was simply about becoming as effective and efficient as possible so that the business became truly sustainable long-term.” Asked about his milestone career moments, Andrei says that every day – and every project – has its landmarks. “There are targets to be achieved daily and things to get done every week. But that’s a good thing. It’s what keeps us active and always striving for what’s next. It’s never good to settle into your comfort zone; the challenge is to stay focused and be sharp. Yes, it’s tiring sometimes and you can take one step back to take two forward, but the result is always worth it. That approach has meant we have always been able to take on projects that are bigger and better, and we resolutely embrace the challenges that come with that. There is a solution to every client need.” Going into further detail about what he enjoys most about his role, Andrei says it is the coordination and communication side of the business that keeps him motivated. “I am very much a people person,” he says. “I have clients who are my father’s and grandfather’s 203

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age, and it has always delighted me to sit with them and understand the needs of their businesses, and then to share my experience and give input. I learn as much from my clients as I hope they learn from us. “Then there’s the team coordination element that is also so interesting. I guide our people when they go wrong, and celebrate with them when things go right; I share my experience where I can and gain their respect. The challenge, of course, is that you cannot manage everyone. There are always going to be people who aren’t manageable, whether that’s in your team or among your clients, and you have to accept that. After all, what’s true of life is also true in business.” In fact, despite being such a technical business, Andrei’s success doubtlessly comes from his people-focused tactics. “We never really talk about ourselves,” he says, “but let our clients do the talking and have thus grown by word-of-mouth. We’ve now expanded to the point that we handle many of the major projects on the island; we’re almost always shortlisted for – or go on to win – the top jobs, and we have clients who have been engaging us for the full 16 years we have been operational. Marketing is critical, of course, but it’s far more crucial to be remembered by our clients for all the right reasons and for them to be happy to recommend us.” It’s likely to be this approach that has seen the team at AG Group stand strong throughout 2020; the CEO says the company took the rough with the smooth over the course of the year. Yes, the team is working harder than ever, but Andrei is also focused on

streamlining the business and making the entire company more productive. “I am adding more management positions and we’re expanding too,” he continues. “It’s certainly keeping us focused, and we’re pedalling harder than ever and finding a solution for any test that comes our way.” Admittedly, Andrei says the construction sector is being hit, and will continue to be hit into 2021. With tourism and hospitality feeling the brunt of things, he expects there to be a slowdown, with many businesses going into survival mode to stay afloat. “But once we get through that,” he says, “there will be a lot more opportunities, including hotels and tower projects being built, as well as the development of Bormla and more renovation work in Valletta. It’s going to be quite exciting.” As he looks back on 2020, Andrei explains that, despite everything, it was still AG Group’s best year yet. Aside from the company’s core services of plumbing and electrical work, it introduced fumigation services to help bring in COVID-19-related business, and the team has already built a strong reputation around that, with a full set-up of trained personal and chemical engineers to help businesses keep their staff and clients safe. “As for 2021… no, we can’t make projections in the way we have done over the past few years but that doesn’t worry me too much. We have to work harder through the challenging moment and know that, while nothing is certain, we will overcome the hurdles. My plan is to work harder and smarter, and to remain open to every opportunity that comes my way. I am very positive about what’s to come,” he concludes.

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Quick-fire Questions… with Andrei Grech What is your morning routine? I am up by 6am and work out most days. Did you have a hero when you were younger? My parents. Do you have one now? Still my parents. Where did you work from during lockdown? From my mobile – most things kept going. Zoom calls or in-person meetings? I like Zoom now. The online world is so efficient. What tool (online or otherwise) do you use most in your business? Emails and Excel. What’s your top tip for productivity? Really detailed planning, down to the hour. If I gave you a magic wand, what would you do with it? Remove COVID-19, especially from our minds. What’s your favourite time of day? Training after work. What entertained you most during lockdown? My home gym, for two-to-three hours a day. Does your life today look different to 2019? I am more careful these days. Does your business today look different to 2019? Yes, it’s less wasteful, especially time-wise. Is success built on hard work or luck? Good things come but you have to work hard to make them work. What’s your top tip for running a business in Malta? Projecting and planning, and sticking to them no matter what. What do you hope the world achieves in 2021? A vaccine for COVID-19, so that people can get back to normality. What’s next for you? Staying focused on the day-to-day. That’s enough.

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CEO INSIGHT “My role didn’t change much during the pandemic and I focused on being receptive to the needs of my team because their needs did change. In hindsight, I think it was a positive time for us because it really unified everyone, even if we were suddenly working remotely. I think the level of cohesion increased and I was pleased with how receptive everyone was to new processes.” 206

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Paolo Catalfamo

C H A I R M A N , L I F E S TA R HOLDING PLC

“OUR NEW NAME REFLECTS THE POSITIVE CHANGES W E H A V E M A D E A N D O U R S TAT U S A S A T R U S T E D A N D R E S P E C T E D P L AY E R . ”

W I T H 3 4 , 0 0 0 P O L I C Y H O L D E R S , L I F E S TA R – P R E V I O U S L Y G L O B A L C A P I TA L – I S O N E O F M A L TA ’ S B E S T - K N O W N I N S U R A N C E C O M P A N I E S . H A V I N G A C Q U I R E D T H E F I R M I N 2 0 1 5 , C H A I R M A N P A O L O C ATA L F A M O H A S S P E N T THE YEARS SINCE TRANSFORMING IT FOR THIS EXCITING NEW PHASE, READYING IT FOR BOTH GROWTH AND NEW OPPORTUNITIES IN 2021.

a more active role in business once again. That’s when I saw the opportunity of life insurance and started to look for a small company I could buy in Europe. Contacts highlighted an acquisition opportunity in Malta and here we are! I reconnected with then-MFSA Chairman Joe Bannister and he was central to supporting my purchase of GlobalCapital in 2015 and our investment on the island.”

Paolo Catalfamo, the charismatic Chairman of the recently rebranded insurance company LifeStar, describes his journey towards running a business in Malta as ‘a mix of coincidences’. He studied to be an economist and his first job was as a university professor. His varied career then kept him busy between the worlds of business and academia, before he set up his own asset management company in 2000. Having made a success of that, he sold it in the late 2000s and moved to the United States, where he was a full-time professor at Villanova University.

That was just over four years ago, and Paolo says a lot has changed for him and the company since. “I originally thought I could commute to Malta from our home in Italy,” he quips. “But I quickly realised that wouldn’t work and we moved the family over. I spent the first two years being heavily involved in the operation before starting to hand over more and more to my fantastic management team in the two years since, enabling me to focus almost solely on the company’s transformation for the future.”

“That time was exceptionally rewarding,” he smiles, adding that he likes working with students and showcasing not just the theory of business but realworld examples. “I enjoyed my time in Philadelphia very much but, at the end of three years, was ready to take 207

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the management structure to bring about better performance and improved corporate governance,” the Chairman continues. “Our new name reflects the positive changes we have made and our status as a trusted and respected player in this segment.

The result of that transformation was unveiled towards the end of last year, with its rebranding to LifeStar. Paolo explains that GlobalCapital Life Insurance Ltd is now LifeStar Insurance Ltd; while GlobalCapital Health Insurance Agency Ltd is now LifeStar Health Ltd; and GlobalCapital plc is now LifeStar Holding plc.

“We also took a strategic decision to concentrate on what we do best: insurance. We have been a proud country representative of one of the world’s leading health insurance principals, Bupa, for many years and have established a solid reputation as a leading provider of insurance products in Malta.”

“We went through a restructuring process in the runup to rebranding by streamlining our procedures, introducing efficient working practices, and reorganising

With the re-launch now successful, Paolo’s focus is set to be far less on the day-to-day of the LifeStar operation and more on crafting the guiding strategy for the Group and its long-term growth. “My intention was always to have the very competent management team run the company, as my time is far better spent on growth activities and strategy,” he says.

The only way to make leadership work is to listen a

For Paolo, leadership is all about service. “I resolutely disagree with a top-down approach,” he continues. “The only way to make leadership work is to listen a lot, understand your people, and – of course – pay close attention to your customers. I am always ready to provide whatever is needed and whatever works, and to really be of service to my team and our customers.”

lot, understand your people, and – of course – pay close attention to your customers. I am always ready to provide whatever is needed and whatever works, and to really be of service to my team and our customers.

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Paolo is enthused by so many aspects of his role, but none more than his regular interaction with his top management. “When you’re involved in the day-to-day running of your company, it’s very hard to find time to think strategically too. But now that I am focused on that full-time, we can share thoughts and I can spend time thinking them through. I love this kind of coordination and being the carrier of ideas.” One of the company’s main decisions has been to focus exclusively on the insurance side of the business. Previously, GlobalCapital was also known for the distribution of financial products, but LifeStar marks the move away from that and is now particularly focused on life and health insurance. “As the exclusive agents for Bupa in Malta for the past 50 years, we have witnessed excellent growth for that brand and maintained it as a successful health insurance provider on the island. Meanwhile, life insurance has grown tremendously, even in the last 12 months, and we are very dedicated to that side of the business.” It’s a decision that has already borne fruit, with the company maintaining its growth in 2020 with no less than 34,000 policyholders who depend on LifeStar, as well as 2,000 shareholders and bondholders. “We handled 2020 well,” Paolo continues. “Yes it was full of surprises, but one of those surprises was how well we coped with all the changes, including shifting our physical operations online in just a matter of days. Under normal circumstances such a move would have taken months of discussions and Board meetings, but on this occasion it all got done very quickly and seamlessly. “Beyond that, I was also surprised by how quickly the market reacted when lockdown first ended and we were back to more normal operations. Clients returned quickly and people got back to their own life with ease. Overall, my opinion of how both we and the island in general handled the pandemic so far is very positive.” The Chairman also sees the future of the insurance sector collectively as positive. The past few months have highlighted its resilience, as well as its importance for the overall economy. “People want to feel protected,” he says. “More and more individuals are taking this part of life seriously and we are here to help. In fact, we recently launched our pensions products and they are really taking off. Our goal is to tailor what we do to our individual clients; we take advantage of being small and that means we can be adaptive and agile.” And LifeStar has ambitious plans, both locally and internationally. “As the largest non-banking related insurance company on the island, we want to keep growing, and we will. But things won’t stop here in Malta; we have international aspirations too and will either expand to other markets or acquire companies that suit our goals.” With all of that in mind, there’s no doubt that 2021 will be a very important year for LifeStar – particularly when it comes to growth. “We hope that the COVID-19 crisis will be over at the start of the year thanks to the arrival of the vaccine and, if that is the case, I believe it will be an exceptional 12 months with things ramping up again. Sadly some industries will still suffer but I believe most will be able to get back on track. As for us, we plan to reap the rewards of the hard work put in over the past few years and that is very exciting,” he concludes. 209

Quick-fire Questions… with Paolo Catalfamo What is the most important part of your morning routine? Breakfast – I take it easy, read three or four newspapers, and plan the day. Did you have a hero when you were younger? My father. Do you have one now? It hasn’t changed. Where did you work from during lockdown? My home office. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most in your business? Unfortunately, my cell phone. What’s your top tip for productivity? Think first. If I gave you a magic wand, what would you do with it? I would end useless fighting. It’s a huge waste of energy and time. What’s your favourite time of day? The evening. What entertained you most during lockdown? My three daughters. Does your life today look different to 2019? Yes, I am more conscious that anything can happen at any time. Does your business today look different to 2019? We are more adaptable than ever. Is success built on hard work or luck? Both. What’s your top tip for running a business in Malta? Cultivate personal relationships and don’t listen to gossip. What do you hope the world achieves in 2021? Economic growth. What’s next for you? Growing LifeStar and enjoying Malta.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Reuben Xuereb

CEO, QP DESIGN | ENGINEER | MANAGE

“THE WORD ‘IMPOSSIBLE’ DOESN’T EXIST IN MY VOC A B U L A RY, O N L Y ‘C H A L L E N G E’.”

OFFERING SPECIALISED EXPERTISE IN THE DESIGN, ENGINEERING AND MANAGEMENT OF CONSTRUCTION, INFRASTRUCTURE AND E N V I R O N M E N TA L P R O J E C T S , Q P M A N A G E M E N T L T D I S R E N O W N E D F O R I T S A B I L I T Y TO C A R E F U L L Y G U I D E A N Y P L A N F R O M CO N C E P T TO R E A L I T Y – A N D B E YO N D. C E O R E U B E N X U E R E B L E A D S T H E M U L T I - D I S C I P L I N E D Q P T E A M A S I T P R O V I D E S A VA S T A R R AY O F S E R V I C E S TO A D I V E R S E P O R T F O L I O O F L O C A L A N D I N T E R N AT I O N A L C L I E N T S .

For Reuben Xuereb, life is not simply a plan to be executed. Indeed, he believes that making the most of life – and what you do along its journey – is more about fearlessly embracing every opportunity that presents itself.

Merchant Bank plc, he went on to lead the listing of the bank on the Malta Stock Exchange. Then, a few years later, an opportunity to head a real estate investment fund was offered to him – in the Middle East.

“Life is a combination of everything that you do along the way,” he smiles. “Following my late father’s example, I have always worked extremely hard to succeed. That was the only way I knew. It is that mindset that has meant that I have never actually applied for a job. If I had not taken the chance on offers that I was not actively seeking at the time, I would have had an entirely different career.”

“Moving to the Middle East was another part of my career journey that I would never have planned,” Reuben shares. “Working the long hours at the bank put me in close contact with shareholders – and their recommendations became opportunities. When the offer came through, I was told I had to be in Kuwait the following week, so I travelled there on a one-way ticket and with the barest essentials of a plan.

Reuben studied international banking, finance and accountancy, before starting his career with KPMG. Shortly after he was appointed CFO of First International

“Living and working in the Middle East wasn’t the easiest but it gave me the opportunity to network and to grow. Although I was only there under two years, its benefits 210

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“Looking back, I have less personal life than business. I am always working, simply because I love what I do, with a drive to do more and to build more. While in the past I have devoted most of my life to work, I now have two young children so my priorities have changed and I’m finding a balance. Through the year, we love to travel on family skiing or sailing holidays. I am passionate about sailing – I relax the most when I’m at one with water on a boat.”

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were equal to five or six years of work. It’s not about the months, years, or hours – it’s what you achieve in the time that you have. So, by the age of 28, you could say I had the skill and experience of a 40-year-old.” Back in Malta, Reuben was appointed Executive Director of the Corinthia Group in 2005, joining a dedicated team of talented and passionate professionals recruited by Corinthia Group Chairman Alfred Pisani to assist in managing the development of Corinthia projects – a team that would later evolve to become QP (Quality Projects).

It is surprising how quickly the world can be disrupted and grind to a standstill; how easy it is to stall progress, development and the way we live. The boy scouts’ motto of ‘be prepared’ has stayed with me through my life – and I have seen how being prepared makes you ready to change, to act and to be creative.

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“Over the years, QP supported Corinthia in delivering and managing developments in Tripoli, St Petersburg, Budapest, Lisbon, Khartoum and Prague, for example,” he explains. “In 2014, we acquired a firm of architects and structural engineers to become our own independent entity, with a fullyfledged suite of design, engineering and management services all under one roof.” QP, therefore, makes the most of Reuben’s passion for real estate development and for seeing projects through from start to finish, while utilising his extensive experience in guiding this multi-disciplined team. “I have always been in a position to lead people throughout my career, so I’ve learned to be a good listener and to give everyone a chance,” he says. “I like to look at myself as a father figure: nurturing and supporting my colleagues and clients while giving them direction and encouragement. I believe in setting clear goals and objectives, and being firm but not tough.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Unless you set goals, you have nothing to measure your progress against. Rewarding success is hugely important too – we are all human beings and love to be rewarded for our achievements.” Reuben’s legendary mountain-moving drive and sense of responsibility towards his team is so strong, he has even sailed into a war zone to assist them. “Back in 2011, the civil unrest in Libya against the regime surged while our team was in Tripoli managing a project there. In a few months, we went from being able to get there via a direct 45-minute flight, to it becoming a far longer journey with two flight connections plus a 10 hour drive; then it became impossible to get there because of the conflict. I knew I needed to get there urgently to support my team, so, in August, I chartered a fishing vessel to sail out to Libya, obtaining papers from NATO to be able to enter the country once I arrived following the 32-hour journey. I was young enough not to even think of the risk. Looking back, it was highly risky – and yet, these days the word ‘problem’ still doesn’t exist in my vocabulary, only ‘challenge’. My body and mind simply go into solution-sourcing mode.” This challenge-oriented facet of Reuben’s approach to leadership and business has been particularly useful as QP faced the challenges wrought by the COVID-19 pandemic throughout 2020. “On the plan for 2020 was growing the company with new talent, but the pandemic completely disrupted the way we do things here. It created uncertainty, not just in the industry itself but in how we manage ourselves and our departments, so good leadership has become crucial in keeping the team focused and motivated,” shares Reuben. “Incredibly, within just a few days we were set up to work remotely as if nothing had happened. The situation gave us a valuable opportunity to look inwards and to innovate, to educate the sector, to promote growth in a sustainable way, and to implement sustainability guidelines.” Yet, as it unfolded, the situation surrounding COVID-19 strengthened Reuben’s resolve regarding the importance of preparedness and teamwork. “It is surprising how quickly the world can be disrupted and ground to a standstill; how easy it is to stall progress, development and the way we live. The boy scouts’ motto of ‘be prepared’ has stayed with me throughout my life – and I have seen how being prepared makes you ready to change, to act and to be creative.” As QP continues to serve Malta’s still-buoyant real estate and development sector, Reuben’s planning foresight expands the company’s mission to include helping to educate the public, developers and the authorities about industry best practices. “In real estate and construction, the difference between mediocrity and excellence is sometimes down to the smallest details. At QP, we begin any design process by taking into consideration the building’s purpose, adopting a bespoke approach to each and every project so that our clients get exactly what they want, when and how they want it. Likewise, we believe Malta’s real estate industries should consider heritage, the environment, the people and their lifestyle when designing and constructing a building.” And it’s this commitment to innovation and quality that is the continued focus of QP for 2021. “We want to be the authors of change. Our methods already set the standard thanks to our detailed dedication to the client relationship, while I’m still a firm believer in innovation and drive. This philosophy has elevated QP into becoming an industry leader – and the best is yet to come.” 213

Quick-fire Questions… with Reuben Xuereb What is your morning routine? 4.45am wake-up, then gym, breakfast and office. Did you have a hero when you were younger? My mother. Do you have one now? Still my mother. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? I prefer meeting in person, if possible. What tool (online or otherwise) do you use most? AutoCAD. What’s your top tip for productivity? Focus and do more with less. If I gave you a magic wand, what would you do with it? I would eradicate all stress and anxiety that cause such psychological damage. What’s your favourite time of day? Early morning. What entertained you most during lockdown? I spent more time with my children. Does your life today look different to 2019? I used to travel all the time, but now I haven’t travelled in over nine months. Does your workplace today look different to 2019? We are more proactive, adding value more than just service. Is success built on hard work or luck? Hard work and sweat – but being in the right space at the right time helps. What’s your top tip for running an entity in Malta? Honesty, integrity and being solution-driven. What do you hope the world achieves in 2021? Freedom of movement without restrictions. What’s next for you? I plan to perfect what I have been doing so far.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Arthur Calleja

CEO, WÜRTH LTD

“BEING A VISIONARY WHILE REMAINING HUMBLE IS THE RECIPE FOR SUCCESS.”

F O U N D E D B Y A DO L F W Ü R T H I N 1 9 4 5 TO S E L L S C R E W S , W Ü R T H H A S B E C O M E T H E W O R L D ’ S L E A D I N G R E TA I L G R O U P , W I T H O V E R 1 2 0 , 0 0 0 P R O D U C T S , 7 9 , 0 0 0 E M P L O Y E E S A N D T H R E E M I L L I O N C U S TO M E R S . L O C A L L Y , C E O A R T H U R C A L L E J A H A S TA K E N W Ü R T H ’ S U N D E R P I N N I N G G L O B A L S T R AT E G Y A N D E T H O S , A N D U S E D I T T O S U B S TA N T I A L L Y G R O W T H E M A L T E S E O P E R AT I O N I N H I S F I V E Y E A R S AT T H E H E L M .

to achieve each target by 9pm every day. Sales underpin absolutely everything that we do here; we love selling because it inspires our customers.”

When Arthur Calleja was appointed CEO of Würth Ltd five years ago, there was one aspect of the job he planned to take more seriously than any other: safeguarding the jobs of the 70-plus people employed by the company, and hopefully creating even more. “Keeping our workforce in a job is my driving principle,” he begins.

Pausing to reflect for a moment, Arthur admits he never dreamt that he would be managing a sales-driven company. His forte at the Jesuit school where he was educated was maths, and he assumed he would work in accounting or a similar profession. As he progressed, he developed his statistical brain too, and this led him to his first role, at KPMG, where he also gained international experience, including in Switzerland and Ireland. “I loved the numbers game but realised I could also step outside that to specialise in management functions too,” he says.

Arthur explains that, as a German company in Malta, Würth has a particular attitude and approach to discipline. “Yes we adapt to Malta, but our DNA, our objectives and the way we think are primarily inspired by the German way of doing things. We have daily targets split into different divisions – from automotive and metal, to wood, construction, maritime and trade – and we aim 214

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CEO INSIGHT “I had to adapt to so many new realities in 2020. As someone who believes in inperson interaction, I accepted that many things had to shift online to keep our team and clients safe, so we invested in that. Where we couldn’t work online, we invested in changes to keep those in our premises just as safe. I was there every step of the way: a captain should always be the one to steer the ship.” 215

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This realisation led him to Würth in 2002, where he was appointed Finance Manager. It coincided with an important time for the company in Malta and, as Arthur worked his way up the ladder, he was also entrusted with the company’s sales function – leading to a 14-year stint as Sales Manager. “I set the sales strategy for a number of years,” he continues. “In that time I helped grow the sales team from nine to 20, and opened our second shop. So, when the time came for a leadership change, I had proven myself and gained experience across the organisation. I was the choice to change question marks into exclamation marks, and was thrilled to be appointed CEO. I am in my fifth year now and, thankfully, it has worked out very well.” Effectively leading his 70-strong team is critical to Arthur’s success. His own boss – Reinhold Würth, the now-Chairman and owner of the global enterprise – has written about his belief that 50 per cent of success depends on the management of your human resources. With this in mind, the local CEO places great importance on being there for his staff. “I am extremely hands-on,” he says. “However I have learnt to delegate and to trust my

When you set a vision, you have a strong strategy. The Würth founders knew that, so it’s carved into our way of doing things. We set milestones and make clear paths for the months and years to come. I truly believe it’s the only way that things can be achieved.

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management team. Overall, it’s communication that is most critical in all of this. Sometimes, as a team, it’s possible to speak the same language while not really understanding one another. Common goals and a clear vision are so important.” It’s that vision that helps Arthur to stay focused in such a fastpaced environment, where he and his team help over 500 clients on a daily basis. “There are new opportunities and new challenges every day,” he says. “But I definitely feel part of the larger Würth family, and am in regular contact with other managing directors and CEOs from across the international group. So, although the responsibility is on my shoulders for Malta and Gozo, I have a ‘bigger brother’ that I can talk to and share with at any time. That has made all the difference.” Relationships in general are crucial to Arthur and the wider Würth philosophy. Locally, the company has over 2,300 active ongoing customers, many of whom have been clients for over 10 years. “Pleasing and inspiring our clients is central to everything we do and is the very basis for our reputation,” the CEO stresses. “I think our success stems from the 10-year vision that every company within the Würth Group has to present and update annually – and which I have been submitting for the past 19 years. When you set a vision, you have a strong strategy. The Würth founders knew that, so it’s carved into our way of doing things. We set milestones and make clear paths for the months and years to come. I truly believe it’s the only way that things can be achieved.” That said, even with a very clear plan to follow for 2020, nothing could have prepared Arthur and his team for the crisis that hit in March. “As an international group with a strong base in

Asia, we were getting plenty of information about what was happening there in January and February, so we knew what to expect. We were also able to look to our contacts in Italy and Spain to learn about how they were coping with things closer to home. “On our end, things were balanced at that time. The pandemic hit certain sectors very harshly, such as the hospitality industry, with hotels needing far less maintenance this year. But then other parts of our business did extremely well, such as our shops, which were full of people who were doing up their homes. Yes it was tough to work out all the different scenarios at the start; and I did have some sleepless nights. But in the end it wasn’t as bad as I thought it would be and we have adapted and fared rather well.” And with 2020 complete, Arthur is now putting his focus on digitalisation for 2021. “We’ve already made a great start, having launched our online shop at just the right time in 2019,” he says. “That really helped us last year! Now I see the opportunities that digitalisation could bring to our future too, and we have a month-by-month plan for the next few months.” Finally, the CEO also details his plans for growth, despite the fact that he does foresee a few more bumps to ride out in the short term, not just locally but globally. “We will be growing our workforce by two or three people and innovating using new technology, but we will also stay focused on our bottom line. One of the underpinning Würth beliefs is that ‘growth without profit is fatal, but profit without growth is fatal too’. So we’ll be keeping that in mind as we move forward – using our German principles, helping our people, and doing whatever it takes to keep growing Würth in Malta.” 218

Quick-fire Questions… with Arthur Calleja What is the most important part of your morning routine? Helping to get my children off to school, while implementing our dog Timmy’s routine too. Did you have a hero when you were younger? Not really, except in my family. Do you have one now? I do have a favourite sports star, Jurgen Klopp. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? In-person, always. What tool (online or otherwise) do you use most in your business? My Outlook calendar, email and WhatsApp. What’s your top tip for productivity? Work hard. If I gave you a magic wand, what would you do with it? Improve the attitude of employees in general. People have to be more tolerant. What’s your favourite time of day? Morning. What entertained you most during lockdown? Thinking about what might happen next, and Netflix movies. Does your life today look different to 2019? Yes, I am not travelling and I have much more time with my kids. Does your business today look different to 2019? It’s a bit tougher but still very positive. Is success built on hard work or luck? Definitely hard work, but a bit of luck does help. What’s your top tip for running a business in Malta? Adaptation – our local market is what it is. What do you hope the world achieves in 2021? A successful vaccine. What’s next for you? More enthusiasm to continue the growth path of Würth interests in Malta and Gozo.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jean Claude Muscat

CEO, ST JAMES H O S P I TA L G R O U P

“ S U R R O U N D YO U R S E L F W I T H P E O P L E YO U C A N T R U S T ; P E O P L E W H O U N D E R S TA N D Y O U R V I S I O N A N D C A N I M P L E M E N T YO U R I D E A S TO D R I V E T H E B U S I N E S S F O R WA R D. ”

S T J A M E S H O S P I TA L M A Y B E O N E O F M A L TA ’ S M O S T E S TA B L I S H E D A N D W E L L K N O W N P R I V AT E H E A L T H C A R E P R O V I D E R S , B U T C E O J E A N C L A U D E M U S C AT STILL SEES OPPORTUNITIES FOR ORGANIC GROWTH AND MEANINGFUL E X P A N S I O N AT E V E R Y T U R N – T H E T R I C K I S K N O W I N G W H I C H O N E S T O P U R S U E . H E I S E A G E R T O C O N T I N U E D E V E L O P I N G A S O N E O F M A L TA ’ S M O S T I N N O V AT I V E A N D D Y N A M I C CO M PA N I E S , A N D H A S E XC I T I N G P L A N S TO E V O L V E T H E B U S I N E S S ’ I N T E R N AT I O N A L R E A C H .

Jean Claude Muscat has worked in private healthcare since the age of 19, over 30 years ago, when he got a job at St James, a private hospital in Żabbar that started as his father’s home clinic in 1986. Now, St James Hospital is a stalwart of Malta’s private healthcare sector and remains one of the island’s premier healthcare providers.

workings helped me to start pinpointing areas for improvement.” The drive to enhance the business was inherited from his father and the company’s Founder, Dr Josie Muscat, who remains Chairman of the Group. “My father was very avant-garde. In the 1980s, Malta’s healthcare – both the Government system and private sector – was unrecognisable and quite basic,” says Jean Claude. “People travelled overseas for treatment if they could afford to, while others looked to the local private sector. My father took bold, innovative decisions. He introduced new services to the island, such as IVF, and was one of the first to offer underwater childbirth, video

“My father wasn’t impressed when I stopped studying, so my first job was in the washroom!” Jean Claude begins. “That said, I wouldn’t replace those first years for anything. The washroom was close to the doctors’ quarters, and I spent lots of time chatting to and helping the medical staff. Seeing the hospital’s inner 220

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CEO INSIGHT “As I developed in the business, I found myself needing to take more and more decisions. My father once said: ‘Always decide. Never leave anything undecided. It’s better to take a wrong decision than no decision at all because at least you’ll keep moving forward. If out of 10 decisions, eight are wrong, then you’re in the wrong position. But if out of 10, eight are right, you’re moving forward.’ I still apply this advice every day.” 221

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You’re only as good as the people around you – this is my mantra. I seek the right talent: motivated people who can grow with the company. clinic, physiotherapy centre, a small hospital and plans for a larger one. And three years later, we opened an eye clinic in Hungary.”

endoscopy, keyhole surgery, MRI services and eye laser treatment.” Jean Claude explains that his sister, Maria, also joined the business at a very young age and continues to drive the operational side. Business development, however, was Jean Claude’s calling. In 2000, he directed his first major project, expanding out of Żabbar by establishing an eye clinic in Sliema. This proved to be a very successful initiative and captured 90 per cent of the private ophthalmic market within its first year of operation. Then came Capua. “We bought St James Capua in 2002, which is also when I became CEO,” continues Jean Claude. “In 12 months, we turned the hospital around and registered a profit. Then, in 2006, we ventured to Libya, where we now have a dental

Talking through the business’ milestones, Jean Claude is clearly proud of the St James team. “My role is to strategise, but my biggest challenge is selling my vision to those who can help me take the business to the next level. Connecting with people is crucial. There has to be chemistry, connection and respect,” he declares. “You’re only as good as the people around you – this is my mantra. I seek the right talent: motivated people who can grow with the company. Luckily, I’ve had low staff turnover, which helps. My greatest satisfaction is seeing these individuals embracing their roles and taking the same decisions I would have taken – sometimes even doing it better than I could have.” With St James’ new hospital in Żejtun nearing completion, having a well-established team is working in the business’ favour. In Malta, the healthcare provider has two topquality hospitals in addition to its outpatient clinics, and its size relative to that of the country has enabled it to offer excellent, comprehensive services. Evolution has been key, 222

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particularly with the move to Żejtun where lessons learned from Capua in terms of layout, automated systems, technology and functionality have been applied. But, of course, 2020 has not been without its challenges. Jean Claude explains that St James has faced two sides of the pandemic: the clinical side and the impact on business. “Our staff have been superb. We rallied the troops, got our policies, training and equipment in place, and pressed ahead knowing we’d be handling COVID19-positive patients,” he says. “This was all unproductive when talking in terms of private enterprise, but we needed to switch to 100 per cent critical mode. It was impressive and quite an amazing experience.

Quick-fire Questions… with Jean Claude Muscat What is your morning routine? The dogs get me up at 6.30am. After tea with my wife, I clear my emails, exercise, shower and leave the house at 9am. Did you have a hero when you were younger? Richard Branson.

“The reality, however, is that business dropped by 50 per cent in March and non-clinical staff – top management included – took a pay cut. Fortunately, the banks gave us a moratorium, so what we lost in revenue, we made up for with reduced expenditure. Today, things are getting back to normal. We are quite close to our pre-pandemic state, but now with the knowledge and ability to tackle such a situation, and that is a good thing. We also used this period to fast track work on the new hospital, so a new wing will be completed earlier than previously expected, in the first quarter of 2021.”

Do you have one now? Statesmen who have strong moral values and conduct tough negotiations. Where did you work from during lockdown? We pretty much continued as usual since we’re a hospital. Zoom calls or in-person meetings? Some meetings must happen face-to-face, but Zoom calls are more efficient 75 per cent of the time. What tool (online or otherwise) do you use most in your business? Email – I try to answer them within an hour.

The pandemic also triggered the integration of technological solutions within St James’ operations. Telemedicine was in the pipeline, but pre-COVID-19 routine prevented immediate investment. Now, the business is taking a much more technological approach, developing its own online platform for doctor-patient services and investigating how AI can further support processes. “We’re no longer on the highway we were on before. Our mindset has shifted. How patients are registered in the system, how check-ups are done, how information is distributed to patients… this has all changed,” Jean Claude confides.

What’s your top tip for productivity? Manage your time and prioritise: don’t delay work that can be done today. If I gave you a magic wand, what would you do with it? Fill the cellar with great quality red wine! What’s your favourite time of day? I love long summer evenings. What entertained you most during lockdown? Wine, Netflix and family – but not necessarily in that order!

Thinking of 2021, Jean Claude explains that the greatest challenge in Malta remains economies of scale. “Malta is small, so it’s difficult to find worthwhile investment opportunities, especially since we function in a very labour- and capital-intensive market,” he says. “This drives up our prices, and we’re only hitting a particular market segment. We can improve our economies of scale by moving beyond Malta and partnering with international organisations to offer our specialised services, even surgery, remotely. Through improved medical expertise we can also attract patients from other countries, which will introduce a new tourism niche.

Does your life today look different to 2019? I’m more grounded and aware of how quickly things can change. Does your business today look different to 2019? We were 60 per cent down between March and June, but things are stabilising. Is success built on hard work or luck? Well-timed good luck is undoubtedly useful, but the secret is perseverance. What’s your top tip for running a business in Malta? Keep pushing, network, be innovative and surround yourself with good people.

“Now is also the time for us to expand overseas, but with an adapted business model. We’re looking at developing markets, such as in Africa, where we can be effective and deliver quality. Rather than direct investment, though, our idea is to utilise the management capabilities we have perfected to offer management services to thirdparty facilities abroad. I see a lot of opportunity around us and hope to be instrumental in taking the company in this direction.”

What do you hope the world achieves in 2021? More awareness of climate change and support for the environment. What’s next for you? Finish the new hospital and develop ourselves as a healthcare management company for third parties overseas.

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Matthew J Mercieca

C E O , M AT T H E W JAMES MERCIECA DESIGN ARCHITECTS (MJMDA)

“ D U R I N G M Y T I M E O N E A R T H , I H O P E TO L E AV E T H I N G S BETTER THAN I FOUND THEM, FOR THE BENEFIT OF ALL.”

E S TA B L I S H E D I N 2 0 0 3 B Y A R C H I T E C T A N D C E O M AT T H E W J M E R C I E C A , M AT T H E W J A M E S M E R C I E C A D E S I G N A R C H I T E C T S ( M J M D A ) I S T O D A Y R E N O W N E D F O R O F F E R I N G A CO N C E P T - TO - R E A L I T Y D E S I G N S E R V I C E V I A I T S I N T E G R AT E D T E A M O F M U L T I - D I S C I P L I N E D P R O F E S S I O N A L S , N I C K N A M E D T H E ‘JA M M E R S’. CO M B I N I N G E N E R G Y, E X P E R T I S E A N D A N U N WAV E R I N G E Y E F O R Q UA L I T Y A N D VA L U E , M J M DA CO N T I N U E S TO L E A D W I T H I T S U S E R - F OC U S E D M I S S I O N TO U N I T E A N D I M P R O V E ARCHITECTURAL SERVICES.

For Matthew J Mercieca, being an effective CEO depends upon being as multi-faceted, multi-skilled and multidimensional as the very team he leads at MJMDA. “A CEO needs to turn things around, to bring people together and to see projects through to their rightful completion,” begins Matthew. “My role involves considering everything from our past lessons and present actions to our future plans. It means being a fair and authentic leader; inspiring peak performance in the best skilled people. And all this while cultivating a culture of excellence and ambition to always improve, even if just a little at a time. This is how we deliver dreams to our customers. And this is how I lead my team to deliver those dreams.”

As he motivates his team with this spirit of continuous improvement for the good of the collective, Matthew himself lives and breathes that ethos. “My next project can always be better,” he insists. “In my limited time as a human being here on earth, I would like to leave things better than I found them, for the benefit of all.” Following his graduation, Matthew began working towards his plan to impact the world of architecture and design through a series of related roles. Then, in 2003, he unseated the building industry’s long-held and fragmented ecosystem with the launch of MJMDA. “When I first joined the industry, it tended to skip straight to the application for a permit from the Planning 224

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CEO INSIGHT “Being able to use time wisely is so important for a CEO – and not just for work. At present, I am working on changing my morning routine, having had the same one for the past eight years or so. A new, more positive routine will create more time for me and my pursuits that help keep my mind clear and focused, including reading and writing poetry, buying and riding vintage motorcycles, and spending time with my family, particularly my two sons.” 225

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Better customer education begets better contractors, while better contractors enable better To achieve this trailblazing usability, Matthew dedicated an early focus to MJMDA team’s structure: “we deliver customised architecture as a product. By seeking a deep understanding of their needs, we offer people all the components required to take their individual projects from the first design to the final finish. The full contingent of professionals required for a project’s every stage are united and integrated under one roof at MJMDA, with a dynamic awareness of the project and a shared goal of providing value and quality.”

customer education. It is a selffulfilling cycle that will ultimately improve the industry both in the short- and the long-term.

Authority, without much consideration as to the design, functionality or the user experience of a building. Although I hadn’t intended at first to start my own business, I saw an opportunity to inspire real change in the sector by channelling a more humancentred approach.” And in the 17 years since Matthew established MJMDA, the company’s efforts have borne fruit indeed. “Generally, through our innovation and our determination to remain user-focused, we have impacted and improved the industry. Many others have joined the bandwagon of this approach over the years and the industry has developed significantly as a result, which is hugely satisfying.” 227

The arrangement breaks the somewhat disjointed norms that Matthew had previously found in the architectural world. “In the past, a client would have had to coordinate with many different entities and professionals to complete a project, which was ridiculous – it was the equivalent of having to buy various car parts from different suppliers in order to build your own car,” he shares. “It’s a lot to ask of clients and quality is rarely the result in that scenario.” Since working in unison to create projects that are of value to clients is key, the team at MJMDA are as energetic, vibrant and innovative as their unique nickname implies. “I call my team the Jammers, as we are at our best when we are jamming ideas to help transform our clients’ visions into reality,” says Matthew. “The momentum that we have as a team under the banner of MJMDA is something which we are all very proud of, including myself as their CEO!”

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

With these solid foundations of expertise and unity firmly underfoot, Matthew and the team at MJMDA were able to take the sudden challenges brought about by the COVID-19 pandemic in their stride, without losing too much of their signature momentum, he explains. “We were exceeding our past performance during Q1 of 2020. Then, when Q2 arrived, so did COVID-19. I shifted my focus more onto the psychological health of everyone on the team when our advantage of all physically being in one place was taken away for a time. We then replicated it, as much as we could, online.”

quality, with independent contractors increasingly capable of delivering high-end finishes.” As the industry becomes more focused on operating to a higher standard, there must be more effective education for clients about the value this added quality represents for them, adds Matthew. “Better customer education begets better contractors, while better contractors enable better customer education. It is a self-fulfilling cycle that will ultimately improve the industry both in the short- and the longterm.”

Nevertheless, he and the team had an unexpectedly positive surprise when their overall results for the year turned out to be marginally better than the year before. “This, to me, was a validation that what we do as a team every day – in terms of our hard work and determination, alongside the business’s inherent sustainability – serves us well in times of crisis. I’m extremely proud of our team and impressed by their resilience and dedication in the face of great adversity,” smiles Matthew.

And it’s not just MJMDA’s quality-fuelled approach that is having a ripple effect in the architectural sphere. “In our viewpoint, our human-centred approach is interlinked with one that is ecologically-centred. Both are a vital part of our role as human beings on this planet,” affirms Matthew. “At MJMDA, we are forerunners in terms of keeping environmental concerns at the core of our work, carefully considering the source of products and adding proponents such as insulation, roof gardens or green roofs, for example.”

While the key focus for 2020 was keeping momentum on ongoing projects as well as maintaining the team’s personal well-being during the pandemic, in the pipeline for MJMDA into 2021 are more opportunities to magnify the emerging positives in the industry. “I hope that the crisis will expose those architectural projects that are of less merit and quality to customers, so that we can reinforce a better cycle of quality in the industry, moving forward,” Matthew elaborates. “The industry has been very quantity-oriented in recent years and I expect it will soon move instead towards

As MJMDA enters its 18th year pioneering the architecture, construction and design industries, Matthew plans to keep evolving, improving and pursuing his dream of leaving the world in better shape than he found it. “We are exploring the international market further at MJMDA. Meanwhile, I am completing my studies for my MBA, which has taught me a lot about myself, what I want and where we stand as a company,” he concludes. “There’s a lot going on as always, but through persistence, prioritisation and taking a step back to see the bigger picture, we can continue building the future.” 228

Quick-fire Questions… with Matthew J Mercieca What is your morning routine? I’m working on creating a more positive and invigorating routine. Did you have a hero when you were younger? Many, and none. Do you have one now? I appreciate the deeds and hard work of all those who hold our society together. Where did you work from during lockdown? Many different places – the office, home, the roof. Zoom calls or in-person meetings? Both have their benefits. What tool (online or otherwise) do you use most? Outlook – I’m fighting WhatsApp as it dilutes focus. What’s your top tip for productivity? Divide, prioritise and conquer. If I gave you a magic wand, what would you do with it? Dress up as a wizard and go to a fancy-dress party. What’s your favourite time of day? Lunch, when I can take stock of the day. What entertained you most during lockdown? Reading, riding motorcycles and time with family. Does your life today look different to 2019? Yes, due to travel and human tactility being so restricted. Does your workplace today look different to 2019? Yes, for the same reason – travel fuels the business and the people in it. Is success built on hard work or luck? The best form of luck is hard work. What’s your top tip for running an entity in Malta? Building and maintaining relationships is crucial. What do you hope the world achieves in 2021? Better balance in our lives and work. What’s next for you? Persistence and pushing through this challenging time.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Kevin Chircop

EXECUTIVE CHAIRMAN, ENEMED

“ O N E O F T H E C O L L E C T I V E C O M P A N Y A C H I E V E M E N T S T H AT I’M PROUDEST OF IS SEEING OUR EMPLOYEES WEAR THEIR UNIFORM WITH PRIDE.”

2020 H AS B E E N M A R K E D B Y H I G H S A N D L OW S F O R F U E L CO M PA N Y E N E M E D , W H O S E B U S I N E S S WA S S E V E R E L Y H I T B Y T H E E F F E C T S OF COVID-19, BUT, POSITIVELY, HAS SEEN ONE OF ITS TWO MAJOR I N V E S T M E N T P R OJ E C T S G E T O F F T H E G R O U N D , W I T H T H E O T H E R TO S H O R T L Y F O L L O W S U I T. E X E C U T I V E C H A I R M A N , K E V I N C H I R C O P , S H A R E S T H E L AT E S T D E V E L O P M E N T S I N H I S B U S I N E S S A N D S E C T O R , A S W E L L A S H I S I N S I G H T I N T O W H AT I T T O O K T O G E T E N E M E D T O W H E R E I T I S T O D A Y .

Since its establishment in 2014, Enemed – a major player in Malta for the importation, distribution and wholesale of petroleum products for the inland market and the aviation sector – has become a widely recognised company within the local fuel, oil and gas industry. After de-merging from a larger national corporation, Enemed has come a long way in its service offering and, equally important, in its overall company culture.

company,” while also challenging ideas and decisions in a never-ending search for improvements to the company. Over five years into his role, Kevin says there have been several satisfying accomplishments which, initially, appeared to be the greatest hurdles to overcome. “One of the collective company achievements that I’m proudest of is seeing our employees wear their uniform with pride. Another is the rapid change in culture, from an extension of a larger corporation to a fully commercial company that is competitive and works hard to develop new ideas that challenge the status quo.”

Since taking the helm in 2015, Executive Chairman Kevin Chircop, who oversees the management of the company and is also the Chairman of the Board, says that “within my capacity as Executive Chairman, I like to see myself as being a mentor and facilitator, with the aim of maximising the potential of each and every individual within the

Sharing his views on the state of the sector, Kevin says it is currently at a crossroads due to the rapid technological 230

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “I don’t believe that productivity is measured by the number of hours spent at work, but by the valueadded you create when you’re working. I also don’t believe that you have to work from an office to deliver – one can work from anywhere, as long as they enjoy what they do.” 231

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

As a company, we took the initiative to develop our own e-diesel, which produces 20 per cent fewer emissions compared to regular diesel.

developments taking place within the field of electric vehicles. “Five years ago, the electrification of vehicles was considered to be a distant achievement whereas today, with increased focus on environmental issues, it is high on the agenda,” he asserts. Kevin is of the opinion that the fuel industry hasn’t taken enough of a lead role in developing products that are less harmful to the environment. Enemed, however, has done so on its own steam. “Diesel – which is used by approximately half the vehicles in Malta – is believed to be the highest pollutant. As a company, we took the initiative to develop our own e-diesel, which produces 20 per cent fewer emissions compared to regular diesel,” says Kevin. “Enemed is shouldering the burden of the costs to produce this product, rather than transferring it to the consumer, in order to carry its responsibility towards a cleaner environment.” He is also sceptical about whether electrification is the best alternative to fossil fuels. “Back in the late 1990s, it was decided that a certain amount of renewable content must be used in fossil fuels, so palm oil started being used,

only to discover 20 or so years down the road that palm oil farms have led to the widespread destruction of the world’s rainforests, which turned out to be even more damaging to the environment. With electrification, the production of batteries and the deep mining of rare metals that are used to produce them, we don’t know what environmental damage is being and will be caused. In my opinion, electrification is a transition towards the use of hydrogen.” Reacting to the impact of COVID-19 on the company, Kevin says Enemed’s business has been affected badly, particularly the aviation side of the business, as suppliers of aviation fuel. “The aviation sector is experiencing 10 per cent of the sales it registered in 2019 – a huge loss that we are still trying to grasp. As for the inland fuel sector, there was a decline in demand of around 30 per cent between March and June compared to 2019. This has since improved to a 20 per cent decline. We’re not out of the woods yet – and anticipate that the numbers might start to recover by mid2021.” From a leadership perspective, Kevin explains that, during the partial lockdown, working remotely proved challenging at first. However, this turned out to be a real opportunity to change the work practices of the Enemed team. In fact, working remotely throughout lockdown provided an opportunity for the Executive Chairman to have a case at Board level in favour of remote working as a way forward for the future, which bore fruit. 232

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Despite the major challenges, there have also been significant achievements for the company in 2020 with the inauguration of one of its major investment projects; the upgrading of its airport facility. By early 2021, a second major project will be completed – the underground fuel storage facility in Has-Saptan, limits of Hal-Ghaxaq, which will replace the 31 March 1979 facility in Birzebbuga.

Quick-fire Questions… with Kevin Chircop

Kevin says both projects were the result of much-needed technological upgrades as well as greater environmental safeguards. Such investments ensure that the new facilities are in line with the latest EU regulations, while having a future-proof infrastructure. With regards to the airport facility, Kevin explains that the previous fuel tanks were designed in the 1950s, and changes in the demand of fuel as well as the transformation of Malta’s economic landscape have necessitated the upgrade.

What is the most important part of your morning routine? Making coffee for my wife and I. Did you have a hero when you were younger? No, but I always admired my parents. Do you have one now? Still my parents. Although my father passed away years ago, I still seek his advice wherever he may be, and my mother is a true fighter.

As for the storage facility in Birzebugga, the safety of nearby residents was another concern. “The 31 March 1979 installation was set up 100 years ago. Back then, it was isolated but, in time, residents started settling nearby and it was no longer a suitable location for storing fuel,” he asserts. “We’ve had a dedicated team working on both sites for three years, and it’s been exciting for the whole company to see them take shape, knowing that facilities of this kind will be around for at least 50 years.”

Where did you work from during lockdown? I worked from whichever room I felt like at home, depending on my mood and the weather. Zoom calls or in-person meetings? Both. Zoom calls allow you to be more focused, but in-person meetings allow you to read a person’s body language. What tool (online or otherwise) do you use most in your business? WhatsApp – it has become the fastest way to communicate with people.

Another successful venture for Enemed has been the establishment of its franchise network – with its noticeable red and white signage appearing on many a fuel station’s façade. Kevin says the network was set up in 2018, and since the start, the aim was to improve the overall quality of service provided by fuel stations. “I dislike entering a fuel station that is dirty and run-down, so our primary aim was to improve the service as well as the expectations of the motorist. Currently, we have 28 fuel stations under the franchise agreement and the greatest benefit for fuel station owners is that, through a state-of-the-art station, they are better positioned to attract more business,” says Kevin.

What’s your top tip for productivity? Being passionate about what you do. If you don’t love your job, quit! If I gave you a magic wand, what would you do with it? I’d throw it away, because I don’t believe in magic, only hard work. What’s your favourite time of day? My reading time just before getting to bed. What entertained you most during lockdown? Nothing specific – I like to take on any challenge that comes my way. Does your life today look different to 2019? It is a little more stressful, because we don’t know when COVID-19 will be over.

The Executive Chairman explains that Enemed demands high standards through the franchise agreement and carries out four audits per year per fuel station, two of which are unannounced. If there are shortcomings, the fuel station owner is given time to address them, but failure to do so will terminate the agreement. “For the motorist, this offers peace of mind that the quality being provided is consistently maintained because it’s been certified by our company.”

Does your business today look different to 2019? Yes, our numbers have been affected, we’re nearing the end of our infrastructural projects, and we have now introduced remote working as a permanent part of our structure. Is success built on hard work or luck? I don’t believe in luck, but rather working hard with a positive attitude.

Looking ahead to 2021, Kevin is eager for Enemed to get back to where it left off pre-COVID-19. “By the end of 2021, we would like to see ourselves positioned as we were in 2019, or better.” He adds that the company will certainly be stronger than before with both of its new facilities up and running, as the team prepares to move into the Has-Saptan facility by the end of Q1. “Through these investments, we will be capitalising on the efficiencies gained, which will act as a springboard to catapult Enemed towards achieving the results we are aiming for.”

What’s your top tip for running a business in Malta? Bring trustworthy and keeping your word. What do you hope the world achieves in 2021? The realisation that money can’t buy everything. What’s next for you? Concluding our projects on time to start focusing on exporting Enemed products to other countries.

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Jimmy Cutajar

CEO, GLOBAL FREIGHT SOLUTIONS ( GFS)

“KNOWLEDGE IS THE BASE OF EVERYTHING. W H E N YO U CO M B I N E I T W I T H H A R D W O R K , YO U C A N B U I L D A C A R E E R T H AT Y O U L O V E . ”

E S TA B L I S H E D I N 2 0 1 4 , L O G I S T I C A L C O M P A N Y G L O B A L F R E I G H T S O L U T I O N S ( G F S ) H A S E V O L V E D I N T O O N E O F M A L TA ’ S M O S T RESPECTED LOGISTICS PROVIDERS, COVERING A WIDE RANGE OF C A R G O A N D A VA R I E T Y O F F R E I G H T M O V E M E N T S B Y A I R , S E A A N D L A N D , B O T H T O A N D F R O M M A L TA . W I T H F O U N D E R A N D C E O J I M M Y C U TA J A R AT T H E H E L M , G F S C O N T I N U E S T O S E T N E W S TA N D A R D S O F SERVICE QUALITY IN THE LOGISTICS INDUSTRY.

For Jimmy Cutajar, the journey towards becoming one of Malta’s foremost logistical providers began through a combination of coincidence and a lifelong love of learning.

excellent reputation. He inspired me to take the leap of faith into setting up GFS.” Alongside Mr Cini’s experience and support, it was Jimmy’s steady determination to grasp every opportunity – and the example he wanted to set for his children – that gave him the confidence to take the leap into the unknown and establish GFS in 2014. “Carmel is an excellent partner and his expertise forms the backbone of the company. But beyond his guidance, the decider was my drive to do what is best for my kids. Children are the most precious gift we have. I wanted to create opportunities for them while

“I was always eager to learn,” he shares. “After I finished school and had the odd job here and there, I moved to Libya and upon contract completion returned to Malta where I was employed by DHL as a courier; it was then I developed a passion for logistics. Besides learning on the job, I went to university to learn the business side of managing a company, and it was also around then that I met Carmel Cini, a haulier with an

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CEO INSIGHT “Every problem has a solution – and it is an opportunity. My role as a CEO is to teach how to turn bad experiences into good ones, and help everyone learn from their mistakes so they can develop further. It helps that I love what I do. Life is too short not to be happy, and I want my team to feel the same about what they do. If it’s clear you love what you do, then this happiness is transmitted to everyone you work with.” 235

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

As CEO, my role is to ensure the company thrives and grows, but I can’t work alone. I need to lead people with my ideas and help them to

As CEO, my role is to ensure the company thrives and grows, but I can’t work alone. I need to lead people with my ideas and help them to develop their own skills and business personality, so that we learn from each other and grow as a company together. I believe that if you take care of your employees, then your employees will look after the company.”

develop their own skills and business personality, so that we learn from each other and grow as a company together.

That shared knowledge, individual expertise and understanding of the importance of teamwork has successfully taken GFS from an emerging logistical company in 2014, to one of the leaders in Malta’s busy and ever-demanding logistics services sector today. Operating in collaboration with a range of expert partners and alliances, once established, GFS was able to quickly offer a wide spectrum of logistical solutions, while applying Jimmy’s signature flair for personalised service.

showing them that hard work pays off,” he shares. “I’ve always believed that every opportunity, whether good or bad, always results in experience. That experience, that knowledge, is the base of everything – and when combined with hard work, you can build a career that you love.”

“We have grown exponentially over the last six years, both in terms of personnel and financially. When you start at zero and turn that into a multi-million euro turnover, something right is happening. And it’s not luck that achieved that, but hard work and our firm belief in offering clients competitive pricing and, more importantly, exceptional service standards,” Jimmy explains. “It’s not that the company reinvents the logistics wheel – the wheel was already there and turning fast – but what GFS brings to the table is the quality of our client and partner relationships, and our ability to provide quality products and solutions designed to cater for each customer’s needs. We do everything to stay efficient and proficient. Those are my ideologies; I’m old school!”

It is this philosophy that today continues to guide Jimmy in his role as CEO at GFS. “From my perspective, I’m a worker not a CEO,” he continues. “I forged my career from the ground up. In fact, my mentor is Richard Branson, who also started from nothing and, like me – although, of course, on a much larger scale – he builds his future as part of his company and understands that without his employees, he is lost. Like him, I try to be a leader not a boss, and set the tone of positivity in everything we do. 237

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

While unparalleled customer service is one of the core values at GFS, Jimmy believes that it is customer retention that solidified the foundations of the company over its first five years of operations, until 2019. “The first five years are crucial to any business, particularly in terms of revenue or client base. Society generally believes that people tend to trust companies more after five years, but I don’t agree with that. A new company has more to give, and we thank the clients that have grown with us. “Now, six years later, we are a firm part of the market and our customer retention remains of the highest importance. We don’t want our customers to work with us one day and disappear the next, so we drive to build solid relationships and leave a lasting memory of quality service and expertise. After all, the customers pay our salaries – without them, there would be no business. But thanks to them, the company keeps flourishing both locally and internationally.” And it was these ongoing customer relationships – combined with Jimmy’s unshakeable positivity – that assured the continuity of GFS throughout 2020; a year that presented a plethora of challenges, not just to the logistics sector but to all industries across the globe due to the COVID-19 pandemic. “2020 was an interesting year; COVID-19 stuck the nail in the coffin of many businesses worldwide,” Jimmy says. “Certainly, when the first cases were announced in Malta it was a shock and brought everything to a sudden standstill. I had, by chance, already been working on installing a teleworking system in the office, so we were quickly able to set up the team to work remotely and safely from home, and continue to meet the individual needs of our diverse clientele. “But I believe survival in such situations all depends on perspective, turning the negative into the positive and recognising the opportunities that arise. The logistics industry requires us to be adaptive and flexible to the market anyway. But, when the pandemic hit, it drove us to become even quicker and more responsive, to create better results, and place less financial burden on the client. As always, the key to success is staying on your toes, with an adaptive mindset and the ability to always look at what is possible; to keep going, asking and learning.” As GFS continues to grow – having employed a sixth team member at the height of the pandemic – and adapt to the everchanging landscape of Malta’s logistics sector, Jimmy is also focused on directing the company towards greater sustainability in all its operations. “As humans, we seem to be doing everything to kill our world but there is no plan(et) B,” he stresses. “Since new opportunities and challenges are always on the horizon for GFS as a logistics company, it is our responsibility to use common sense – another great gift – to keep sustainability at the heart of everything we do and explore more planet-friendly freight solutions along each link in the logistics chain. No business model should be restricted to the inside of a box – and neither should your mind. It’s amazing what you can achieve by thinking outside the box,” he concludes. 238

Quick-fire Questions… with Jimmy Cutajar What is your morning routine? I’m not a morning person! I start with coffee though. Did you have a hero when you were younger? Mazinger Z. Do you have one now? My parents. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? I love meeting people in person. What tool (online or otherwise) do you use most? Email and WhatsApp. What’s your top tip for productivity? Happiness. If I gave you a magic wand, what would you do with it? Break it. Magic doesn’t exist – you have to work for it. What’s your favourite time of day? Evening. What entertained you most during lockdown? Resolving work challenges due to the pandemic. Does your life today look different to 2019? Every day is a different day. Yesterday’s sundown will not be today’s sundown. Does your workplace today look different to 2019? Completely different, as we evolve to meet market demands. If you don’t evolve, you die. Is success built on hard work or luck? I don’t believe in luck. Jeff Besos, Elon Musk and Richard Branson all started from nothing. You make your own luck. What’s your top tip for running an entity in Malta? Never give up, be fair, work hard and learn from your mistakes. What do you hope the world achieves in 2021? Peace and serenity, and respect for the earth. What’s next for you? More hard work, more growth, with a positive outlook always.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jesmond Bugeja

C E O , M A L TA C O M M U N I C AT I O N S AUTHORITY

“ I N 2 0 2 1 , W E A R E E X P E C T I N G TO S E E E X T E N S I V E R O L L - O U T S O F 5 G . T H I S T E C H N O L OG Y H A S T H E P O T E N T I A L TO C H A N G E T H E WAY W E L I V E , W O R K , A N D P L AY . ”

F O R M A L TA ’ S C O M M U N I C AT I O N S S E C T O R , 2 0 2 0 W A S T H E Y E A R I T D E M O N S T R AT E D I T S S T R E N G T H A N D R E S I L I E N C E – A N A C H I E V E M E N T T H AT M A L TA C O M M U N I C AT I O N S A U T H O R I T Y C E O , J E S M O N D B U G E J A , S A Y S I S T H E C U L M I N AT I O N O F Y E A R S O F H A R D W O R K . H E S H A R E S T H E S E C T O R ’ S SUCCESSES AND ITS MANY EXCITING DEVELOPMENTS IN THE MONTHS AHEAD.

“The events and challenges of 2020 have been a true testament to Malta’s robust communications sector,” says Jesmond Bugeja, CEO of the Malta Communications Authority (MCA), who explains that, as an industry it saw an unprecedented rise in demand, showcasing more than ever the importance of uninterrupted telephone, internet, mail and delivery services.

The strength of Malta’s communications sector was amply demonstrated in the European Commission’s Digital Economy and Society Index (DESI) 2020, which monitors the digital progress of EU member states in the field. With an overall connectivity score of 58.7, Malta ranks 10th among member states in connectivity – and fifth overall – and performs better than the EU average in all coverage indicators.

“The strain on the sector was inevitable – yet telecommunications and postal operators alike rose to the challenge and took it in their stride. In fact, disruptions to communications services have been minimal, and the sector remains as strong as ever,” says Jesmond. “This would not have been possible without the reliable communications infrastructure that the MCA has fostered over years of careful regulation, close industry cooperation, ongoing investment, promoting innovation and futuredriven initiative.”

Jesmond explains that the results Malta achieved in DESI have shown that Malta has a well-established and competitive communications industry, reliable networks and enhanced connectivity, all of which put the country at the forefront of digital progress in the EU. “However, technological advancements are constantly transforming our immediate and long-term future. Therefore, maintaining our competitive edge with regards to the digital sphere is extremely important.” 240

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CEO INSIGHT “The MCA plays a crucial role in ensuring that people and businesses in Malta get the best from their communications services. In my position as CEO, I oversee the regulatory functions under MCA’s remit, and I lead and support the MCA staff in their work to meet the MCA’s strategic objectives every step of the way.” 241

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The CEO says it is positive to note the continued investment in the communications sector, especially in new technology areas such as IoT (the Internet of Things), high-speed networks and 5G. “This continued enhancement of the local communications infrastructure will open the door for opportunities for local investment as well as to attract new opportunities for international business, including start-ups, and research and development companies.” Speaking of 5G, Jesmond asserts that Malta’s telecommunications infrastructure is more than ready for the market to develop. “Back in 2017, when the European Commission published the 5G Action Plan, the MCA began preparing a five-year work plan with the aim of facilitating the deployment of 5G networks in Malta. A national risk assessment of 5G networks was also carried out in 2019,” he explains. Currently, Malta boasts three mobile phone network providers that offer 4.5G services nation-wide, with one of the operators having already invested in 5G-ready infrastructure. “In 2021, we are expecting to see extensive roll-outs of 5G. This technology has the potential to change the way we live, work, and play. 5G does not simply enhance mobile coverage and data speed. It is purposely designed to be the first generation of cellular networks to enable the digital transformation of society and the economy at large.” Turning towards the Authority’s activities in 2020, Jesmond explains that, indeed, all of what the MCA had worked towards in the past was put to the test during the year that will go down in history. “Communications infrastructures, including postal, have taken the load in their stride despite

the inevitable strain stemming from various quarters. Communications players focused almost exclusively on ensuring an ongoing supply of communications services to their clients, and they also reacted by providing additional services and solutions to assist people in their business and social lives under the new forced regime.” As the national regulator, the MCA has been the liaison between operators and Government, and throughout the past year, the focus has shifted to uninterrupted service provision. “Meanwhile, in terms of regulation and measurement, the Authority continued with the required coordination with the European Commission, as well as other bodies, such as the Body of European Regulators for Electronic Communications (BEREC) and the European Regulators’ Group (Postal), which see that the results are gathered, summarised and made public.” From a leadership perspective, the CEO asserts that, when the pandemic was first reported in Malta, the MCA was swift to react and shifted its operations remotely. As the concept of remote working wasn’t new to the Authority, the transition was smooth, and its work was able to continue without interruption. “Adapting is key in these critical situations and, as the National Regulatory Authority for communications, it was important to be vigilant and react instantly in case of any fall-out in communications, whether electronic or postal.” Despite the challenges of the past year, 2021 is already shaping up to be an exciting one for the CEO, who will begin his role as Vice-Chair of BEREC for the duration

Being elected as Vice-Chair is a sign of trust from our European colleagues in the regulatory work that the Authority is doing, both in the national and international spheres.

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of one year. “I am humbled and honoured to be occupying such a prestigious position. Being elected as Vice-Chair is a sign of trust from our European colleagues in the regulatory work that the Authority is doing, both in the national and international spheres. It is a challenge which we face with a high degree of responsibility, commitment, and determination.” Jesmond explains that this appointment marks the first time that the MCA and Malta will be occupying such an esteemed position within BEREC. “It is a significant step forward for us as we continue steering the discussion in the telecommunications industry and shaping the European agenda towards a forward-looking digital society for the benefit of Europe and its citizens.” Furthermore, the Authority will have its hands full following the imminent transposition of the European Electronic Communications Code (EECC) Directive into Maltese law. This, the CEO asserts, is in fact one of the key priorities of the MCA in 2021. “The EECC updates the regulatory framework, dating back to 2009, to reflect evolving technologies and developments in the way people communicate. It aims to encourage investments in very high-capacity networks, by relieving service providers from some of their regulatory burdens. Additionally, it will bring a renewed focus in communications markets, taking into account new, over-the-top services (such as WhatsApp and Skype) to increase regulatory stability, promote investment in very high-capacity networks and enhance consumer protection.” In its capacity as advisor to Government on communications policy and regulation, the MCA has over the past two years provided advice to Government on the transposition of the Directive into Maltese law. “We understand that Government is expected to consult on the transposition of the EECC shortly,” says Jesmond. “The EECC places a stronger emphasis on incentivising investment in very highcapacity broadband networks; promoting more efficient spectrum management to support 5G rollout; and ensuring effective consumer protection and engagement.” Among the series of new objectives and tasks set out by the Directive are strengthened consumer rules to make it easier to switch between service providers, affordable and adequate broadband internet access to be available to all consumers, irrespective of their location or income, and for people with disabilities to have equivalent access to electronic communications services. “The MCA has commenced work on a number of new initiatives to implement the relevant provisions of the EECC, which should gain traction in 2021 following transposition.” 2021 will also see the continued evolution of the regulatory landscape, including the introduction of new initiatives, namely a review of the roaming regulations, eCommerce rules, and the Postal Services Directive, as well as the announced Digital Services Act for Malta, which is earmarked to be a cornerstone for regulating digital services in the EU. “Additionally, the new Von der Leyen Commission announced an ambitious programme that, among other measures, aims to tackle online platforms that have remained largely unregulated until now,” says the CEO. “Exciting times are ahead of us, and as the telecoms sector begins the journey towards ‘intelligent connectivity’, we have to continue ensuring that the right regulation is in place in this regard, for the benefit of society.” 243

Quick-fire Questions… with Jesmond Bugeja What is the most important part of your morning routine? Going through our offices to say good morning to the staff. Did you have a hero when you were younger? No. Do you have one now? No. Where did you work from during lockdown? Both from the office and from home. Zoom calls or in-person meetings? Definitely in-person. What tool (online or otherwise) do you use most in your business? A smartphone. What’s your top tip for productivity? Good planning. If I gave you a magic wand, what would you do with it? Feed the world and spread the wealth. What’s your favourite time of day? Late morning. What entertained you most during lockdown? My TV. Does your life today look different to 2019? Why? Yes, because I’m busier. Does your business today look different to 2019? Why? Yes, most of the work is being done remotely. Is success built on hard work or luck? A little bit of both, but a great team plays a huge part in success. What’s your top tip for running a business in Malta? Take care of customers and make them your priority. What do you hope the world achieves in 2021? I hope the world unites and works harder towards becoming carbon neutral. What’s next for you? I am enjoying what I’m doing, so, for now, I will continue to focus on my current task at the MCA.

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CEO INSIGHT “My role had to change in 2020, from leading through experience to leading through intuition and dialogue with stakeholders. In the past, I based my management on what had worked, but 2020 was different. I adopted new approaches based on what could work most effectively and efficiently, and by bringing people together to agree on the best way forward. At the heart of my decisions is the well-being of students and staff members.” 244

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James Calleja

P R I N C I PA L & C E O , MCAST

“THE WORLD OF EMPLOYMENT IS CHANGING AND L E A R N I N G H A S T O C H A N G E A S A R E S U L T. ”

E S TA B L I S H E D I N 2 0 0 1 A S M A L TA ’ S L E A D I N G V O C AT I O N A L C O L L E G E , M C A S T H A S B E C O M E T H E E D U C AT I O N A L H O M E F O R 1 2 , 0 0 0 F U L L - A N D P A R T - T I M E S T U D E N T S . AT I T S H E L M , J A M E S C A L L E J A L I V E S H I S O W N V O C AT I O N : L E A D I N G A N I N S T I T U T I O N T H AT H E L P S P E O P L E O F A L L A G E S L E A R N I N A M A N N E R T H AT S U I T S T H E M B E S T A N D H E L P S F U T U R E - P R O O F T H E M F O R T H E C A R E E R S O F TO M O R R O W .

There is no doubt in James Calleja’s mind about what drives him: watching young people succeed and find jobs, and seeing older people return to education to reskill and retrain. And that’s exactly what he leads MCAST – Malta’s College of Arts, Science and Technology – to do.

based in Thessaloniki, Greece. He was probably the first Maltese to be appointed director of an EU agency, and this one in particular focuses on research in European vocational training. It was after that, in 2018, he joined MCAST as Principal and CEO, a job he largely considers a lifelong vocation. Today he describes his role as ‘decision-maker’, and he’s also the person who gives direction to the College’s management on several day-to-day issues. “The Board of Governors establishes the vision and my task is to implement it,” he says. “Of course, my input in this rolling vision is extremely important to ensure continuity and change.”

“I chose education because I absolutely love it when young people succeed in life. I believe very strongly that there is no one size that fits all in education; it’s not the child that has to fit into an educational system but the other way round. Every single person has the capacity to live a lifelong journey with dignity if those in education can find a way to transform dreams into personal and professional goals.”

Chatting about his views on education, James stresses that learning shouldn’t be something that ends with your higher degree or formal education. “In fact, encouraging people to keep learning is the biggest challenge today,” he

In fact, training and education have been the common denominators throughout James’ career. One of his landmark roles was as Director of CEDEFOP, an EU agency

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says. “The world of work is a great teacher but, with advancements in technology, it often isn’t enough to help people to keep a job. Continuous professional development is an important feature in everyone’s career. You cannot stop learning in the age of technology and when work practices are changing so rapidly. Learning by experience and through training are very invaluable partners for success in today’s world.” This of course means that educational establishments of all sorts are important as the world of work continues to evolve. But institutions like MCAST in particular – which is the island’s leading destination for vocational learning – are critical. “People learn in different ways,” the CEO continues. “Some by listening to someone speaking, others by reading, others by doing. This is exactly what vocational learning and training is all about – learning by doing. Work-based learning is an essential part of vocational education, and what it means to me is that I see successes at different levels; from Level 1, which is normally a basic success story, to Level 7, which is the equivalent of achieving a Master’s degree. Seeing that happen at our College at every level gives me a huge sense of satisfaction.” It is a success story that many see the value in – especially its student base, which has grown from 970 when MCAST opened its doors, to 12,000 today. Its training provision has grown too, and the College now boasts 187 full-time courses, over 300 parttime courses, a staff population of over 1,200, and impressive new infrastructures such as its Institute for Engineering and Transport, its Institute for Information and Communication Technology, and its newly constructed Resource Centre.

You cannot stop learning in the age of technology and when work practices are changing so rapidly. Learning by experience and through training are very invaluable partners for success in today’s world.

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James is proud of so many of the College’s milestones. “One that stands out was when MCAST embarked on home-grown qualifications, leaving behind a legacy of British qualifications,” he says. “Another important milestone was when the College introduced higher education qualifications, such as Vocational and Professional Bachelor and Master’s degree programmes. Very few people in 2001 would have thought that this could actually happen.”

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

And, of course, MCAST’s success has had some very real positive knock-on effects for Malta as a whole, by helping the country to diversify its workforce since the start of the 21st century. “Yes, it’s important to have a good supply of lawyers, doctors, architects and teachers,” the Principal says. “But you need diversification, and the economy has been diversified in no small measure thanks to new qualifications that people have acquired. For instance, we have responded to an increase in jobs in the pharmaceutical sector, in aviation, in the maritime sector, in information technology, in financial services, in business management and in agribusiness. This diversification has helped our economy to grow. It has offered a variety of jobs to our young population and those who wanted to change career. People can do different jobs today, and MCAST has largely become a main contributor to an economy that leaves no one behind.” The importance of education has been further underpinned by the challenges of 2020 – during which MCAST ‘went online’. “It’s as if we had had the best training in the world and that everything had been planned that way,” he says. “Nobody complained. Many worked happily from home. We all became familiar with Zoom, Teams and with sitting in dining rooms to work. It was a crash course in how quickly things can change, and how you have to adapt to them. “Yes, there were challenges. We had to rethink how to bring the academic year 2019/20 to a close, while at the same time conducting practical sessions and assessments. But we did it, and found that we were able to roll out 180 courses at the start of the new academic year, which was a real achievement

when you consider everything that stood in our way.” There has been a lot of change in that time. The College is managing hands-on learning by having smaller groups in workshops and laboratories. Student interaction, meanwhile, is being kept alive using a bubble system, while wearing masks became obligatory early on. “We invested over €85,000 to ensure a safe environment for everyone,” James says. Now, the CEO sees much of what has been changed and learnt as an opportunity for the future – especially the future of education. “The world of employment is changing and learning has to change as a result,” he stresses. “Innovation is becoming the order of the day and research is becoming part of what vocational training is all about.” Going forward, James would like to see a good mix of faceto-face and online learning; the latter, he says, has proved how much time can be saved when things are done effectively online. “I would like my lecturing staff to embark on making more contacts with industry stakeholders, and to spend more time learning about how industry is developing, so we can reflect that in our courses. I would also like industry to be present, so they too can share their latest insight and needs. I believe this is the time to invest in reviewing our courses, to do more research, and to find more ways of assisting our students as they prepare to join the workforce. I would like more apprenticeship pledges from industry and the public sector. “This year has shown us that we must embrace change in all its forms. I firmly believe that we will enact that change and bring success from it,” he adds. 248

Quick-fire Questions… with James Calleja What is your morning routine? I am normally at work by 7.30am and I go through my emails first. Coffee is a must. Did you have a hero when you were younger? Footballer Sir Bobby Charlton. Do you have one now? Pope Francis, who speaks for humanity. Where did you work from during lockdown? I was in my office. Zoom calls or in-person meetings? Face-to-face, but online does work. What tool (online or otherwise) do you use most? Email definitely – fortunately or unfortunately. What’s your top tip for productivity? Commitment. If I gave you a magic wand, what would you do with it? As a football fan, it would have to be seeing England win the FIFA World Cup. I live in hope. What’s your favourite time of day? The evening to relax and unwind. What entertained you most during lockdown? Music and gardening. Does your life today look different to 2019? Yes it does as travel is restricted and therefore interaction is more virtual than real. Does your workplace today look different to 2019? Yes because of social distancing measures in place. Is success built on hard work or luck? Hard work definitely, with little elements of luck. What’s your top tip for running an entity in Malta? Vision, hard work and dedication. What do you hope the world achieves in 2021? Rationality, fairness – keener sense of social justice and entitlement. What’s next for you? To take MCAST to fresh and higher peaks.

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CEO INSIGHT “I believe that every leader needs to formulate a vision and then communicate that vision in such a way as to make the entire team embrace it. Together you can then move forward to achieve it – that’s the very basis of effective leadership.” 250

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Beppe Muscat

CEO, NM GROUP

“ T H E A C C O U N TA N C Y S E C T O R I S V E R Y C O N S E R V AT I V E A N D P R O C E D U R A L , B U T I W A N T T O C H A L L E N G E T H AT. ”

E S TA B L I S H E D I N 1 9 9 1 , N M G R O U P H A S M AT U R E D F R O M A O N E M A N B A N D F O C U S E D O N A C C O U N TA N C Y S E R V I C E S , T O A F U L L Y F L E D G E D P R O F E S S I O N A L S E R V I C E S F I R M . C E O B E P P E M U S C AT H A S B E E N I N S T R U M E N TA L T O T H I S G R O W T H , TA K I N G O V E R F R O M H I S F AT H E R , A N D S T E E R I N G T H E O R G A N I S AT I O N T O W A R D S A V I S I O N B A S E D O N T H R E E V A L U E S : I N N O V AT I O N , Q U A L I T Y A N D P E O P L E .

“I have evolved within my role as Chief Executive Officer in the family firm in a very informal manner,” Beppe Muscat smiles. After graduating from university in 2012 and acquiring his Certified Public Accountant (CPA) warrant, as well as his practising certificate in auditing, the youthful leader took the reins of the company, intent on keeping a close relationship with the company’s staff and championing change within the business that had been started by his father 30 years ago.

to introduce an international aspect to our business, and that has become a major source of growth over the past few years.”

“Over the years I’ve grown with the firm, as has our team, of which I’m very proud. When I joined, I inherited a system that had been used over the past 20 years, and which focused mainly on local clientele seeking accountancy services. This system worked but it wouldn’t allow us to grow any further, so I have strived

“We had to change the mindset and culture of the firm. I would say we’ve managed and that this has been an accomplishment, allowing us to onboard a very diverse clientele. Today, we are no longer simply a company that provides accountancy services, but we have widened our offering to various corporate functions,

This approach challenged the entrenched mentality of the company’s shareholders, as well as Beppe’s family and loyal employees, who had been with the firm since its early days. However, in time, the mindset has shifted and – as Beppe says – while people resist change, in this case, adaptability has been the name of the game.

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while still assisting our local client base and also ensuring diversification in other new avenues.” Beppe’s success in leading the company through this transformation is in no small part a result of his ability to juggle and to encourage a healthy work-life balance for himself and all his staff. “It’s useless trying to solve problems if you don’t have a clear mind to do so, and this is the attitude I have tried to instil in our company culture. It’s important to have your own interests, whether that’s practising a sport or a particular hobby, since this can help you relax and face the issues you’re anyway going to have. It’s something my father always taught me.” And, Beppe certainly practises what he preaches. He is an early riser, sometimes starting

his day at 4am. “I have two kids,” he says, “and I like to answer any emails which come in overnight before I head to the office.” Then, Beppe’s day is taken up with meetings with clients and his team. “I have always had an open-door policy with our staff at NM Group. It’s important to have that line of communication with the team, as well as with our clients, and I think solidifying these relationships is crucial to the growth of the company,” he insists. Indeed, nurturing relationships is one of the aspects of his role he loves the most. “My passion is helping people to develop themselves and to grow, and I enjoy the interaction with my clients and the staff at NM Group. I am constantly trying to refine the company’s vision which is based on three pillars: innovation, quality and people.” Beppe credits this vision for the steep growth of the company. “NM stands for Noel Muscat – my father. The firm owes its beginnings to the death of my six-month-old brother, who passed away of heart failure following a protracted illness – and all the stress that my parents experienced travelling to London for medical opinions. When my brother passed away, my parents thought

We believe we’re only as good as our people, so it’s important to choose them carefully, train them up, and prepare them to be able to offer the level of service we expect to give to our clients.

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there couldn’t be anything worse and if they were to take any chances in life, then they should. So, my father quit his stable job and set up on his own, with my mother helping.” The firm operated out of the family home for many years, moving from garage to basement and even expanding to the dining room table upstairs. “When I joined, we were five people working from a large basement. But when we grew to 15 staff, the place was literally full up. So, at one point, I had six people working from my parents’ dining room table. My mother drew the line at the kitchen table,” he laughs.

Quick-fire Questions… with Beppe Muscat What is the most important part of your morning routine? Replying to emails received overnight before taking my children to school. Did you have a hero when you were younger? My father and uncle.

While 2020 challenged the 35-strong firm, it has also been replete with opportunity, Beppe says. “Our clients were impacted last year, though there were industries which flourished, such as the medical and homeware sectors. What 2020 did was precipitate change that was coming at any rate,” he explains, pointing to the firms’ increasing reliance on technology. “And, jobs will transform because of this, with technology taking over many tasks. There is much that human beings can do, which technology cannot, and that includes increasing value in personal interactions, customer service, as well as identifying problem areas and issues which go beyond numbers and the output produced by our technological tools,” he outlines. And this is the motivation behind Beppe’s commitment to ensuring his clientele get a personalised service. “This is the reason for our insistence on adding value, on adding quality to our service, in terms of going that extra mile and being better than our competition. We don’t want to be just another firm in the sector. The industry is very conservative and procedural, but I want to challenge that,” he asserts.

Do you have one now? I still look up to my idols and strive to be the best possible example and influence on my kids and my team. Where did you work from during lockdown? Mostly home. Zoom calls or in-person meetings? Nothing beats a personal meeting. What tool (online or otherwise) do you use most in your business? Definitely email. What’s your top tip for productivity? Along with working hard, one must work smart. A little planning and strategic thought can significantly improve levels of productivity. If I gave you a magic wand, what would you do with it? In a COVID-free world, I would use it to eradicate poverty in its various forms. What’s your favourite time of day? The typical Sunday afternoon family gatherings. What entertained you most during lockdown? Definitely the kids and the home-schooling drama. Does your life today look different to 2019? Yes, because we are now expecting our third child and that has already created new dynamics.

Looking towards the coming year, Beppe is aware that uncertainty still hovers on the horizon. “We have to see how this pandemic is resolved and how long it’s going to take for things to get back to normal. As a firm, we’re aligned to our vision, and, since 2021 is our 30-year anniversary, we will be marking that milestone,” he says.

Does your business today look different to 2019? Yes, because 2020 has seen us hit record numbers in our 30-year history. It has been a year where we have set a clear direction for the years to come. Is success built on hard work or luck? Being unlucky won’t help. But I am a firm believer that success cannot be achieved without hard work.

To this end, the firm is embarking on a process of rebranding, which is going to be a reflection of “the perception we want to create around NM Group,” he explains. Moreover, company-client relationships – as well as the interactions between the firm’s staff – will continue to be key to the success of the company, and are a particular source of pride for the young leader. “We believe we’re only as good as our people, so it’s important to choose them carefully, train them up, and prepare them to be able to offer the level of service we expect to give to our clients,” he concludes.

What’s your top tip for running a business in Malta? Don’t work solely ‘in’ your business but be sure to dedicate the time to work ‘on’ your business. What do you hope the world achieves in 2021? Health, stability and serenity. What’s next for you? A couple of exciting years that will be crucial to achieving our vision.

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Paul V Tabone

CEO, TA B B I N G T O N S L T D

“ I T H R I V E O N T H E S AT I S F A C T I O N O F M A K I N G S O M E T H I N G UNIQUE AND BEAUTIFUL FOR EACH PERSON.”

F O U N D E D I N 1 9 8 1 , TA B B I N G T O N S L T D H A S E V O L V E D F R O M S O L E L Y M A N U FAC T U R I N G C A N E F U R N I T U R E I N TO A N A L L - R O U N D T R A D I T I O N A L W OO DW O R K S A N D J O I N E RY C A PA B L E O F D E L I V E R I N G T U R N K E Y P R O J E C T S O F E X C E P T I O N A L Q U A L I T Y . F O U N D E R A N D C E O P A U L V TA B O N E CO N T I N U E S TO S T E E R T H E CO M PA N Y T H R O U G H T H E P R O D U C T I O N O F U N I Q U E P R O D U C T S T H AT A R E C U S T O M I S E D B Y E X P E R T C A R P E N T E R S A N D CO N T R AC TO R S TO T H E I N D I V I D UA L N E E D S O F E V E R Y C U S TO M E R .

While most of us may define a cancer diagnosis and seriously injuring the spine – twice – as enough to bring anyone to a grinding halt, for Paul V Tabone these major events have been just ‘setbacks’ on his journey through life. That his prostate cancer diagnosis came mere weeks before Malta began its own battle against the global COVID-19 pandemic was, for Paul, simply another challenge to overcome.

“My philosophy of life is to practise my Christian values and put them to work in all aspects of everything I do,” he explains. “They are there whether I’m dealing with clients, employees, business associates, family or friends, and they can be seen in every piece of furniture I make. I am in the business of creativity. Every piece we create is made individually for that client – not massproduced – and I thrive on the satisfaction of making something unique and beautiful for each person. That is my passion and it’s one I wish to keep doing, at least for a few more years.”

This extraordinary approach to life reveals the measure of Paul as a person, who credits his faith for his many achievements. These include the founding of Tabbingtons – the company he grew from scratch into one of the most respected woodworking specialists in the country.

In fact, the entirety of Paul’s extensive career has been crafted around his passion. Fresh out of school, he kick-started his professional development in a

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CEO INSIGHT “I would be nothing without my super-dedicated wife, Liz – she’s been my girlfriend for 47 years! I am so proud of her and she never lets me do anything that will stress me. She is my boss and always right. My wonderful children have also given me such a boost by taking over the workshop to do what I couldn’t this past year. They know what the business means to me. I am incredibly blessed to have such a wonderful family.” 257

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position at Forestals. Here, while overseeing sales and shipping, he also spent a year in the UK learning manufacturing techniques, draughtsmanship, store keeping and sales for catering and industrial cooking equipment through a work-study course with Creda International, Hobart Manufacturing, Foster Refrigeration and Bartlett. Paul followed this with roles that not only expanded his manufacturing knowledge, but also sharpened his expertise on business management. Between 1971 and 1980 he worked as Manager at plastic injection and blow moulding factory Model Hobby Ltd; Purchasing and Traffic Manager with Japanese electronics manufacturing company Shin-Shirasuna Malta Ltd; and Manager in the locally formed international TIR road haulage company, Islander Trucking Ltd.

However, Paul’s enduring passion for creativity steered him towards a new career path into his own business, when an unexpected opportunity arose. “Every role I experienced in those early days helped me to learn and grow, but I still wanted to do more creative work,” he recalls. “As it happened, I had been working with a man who had exported cane furniture to France and had gone bankrupt. I was fascinated by the idea and the adventure, so I left Islander Trucking and took on the company – debts and all. We turned it around and our cane sofas can still be found, decades later, in some hotels.” When plastic chairs became more popular than cane furniture, Paul changed direction again. “People began to ask us to make other items, such as kitchens, so we switched to woodworking, often working into the night to meet demand.” And so, Tabbingtons Ltd the ‘traditional woodworking company’ was born, with its name coined by Paul as a fun Anglified play on his own surname, in recognition of the company’s growing popularity in the UK as well as in Malta. Over the near-40 years since, Paul has overseen all the operations of the company, from sales to administration, as well as his team of around 30

If the contractor or carpenter were paying money to have this item in his home, would he accept it with any defects? I doubt it. So, if it’s good for them, it’s good for the client.

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employees. Paul’s most careful focus, however, remains on the details of every woodworking project that is manufactured through Tabbingtons. “Every person working with us must acknowledge that each product coming out of our workshop is going to be used by a client in their home, and that they have paid money for it,” he continues. “If the contractor or carpenter were paying money to have this item in his home, would he accept it with any defects? I doubt it. So, if it’s good for them, it’s good for the client.”

to be a better year for him, for Tabbingtons and for the other goals and opportunities that he still tirelessly pursues. “In 2010, I was in a spinal brace and feeling very low, so I spent that time researching how to convert waste into energy,” he says. “Ten years later, in 2020, besides looking after Tabbingtons, I have collaborated in the formation of a company in Sweden that has been set up to build waste-to-energy plants – and it already has a memorandum of understanding to build two such plants in North Africa.”

His insistence on quality and detail also impacts Paul’s leadership style, he admits. “I’m obsessed with quality. There are multiple cameras around the workshops so that I can take notes when I’m not there and regularly follow up with the contractors about the quality of each product. There have been a few times that I have directed my people to start a project again if I’ve believed the quality wasn’t up to scratch.”

And with these values of sustainability and quality firmly at heart, Paul is determined to keep building, learning and creating beauty in a world that is increasingly massproduced. “There’s so much technology now, with machines replacing humans. And it is nearly impossible to pin down where the materials have been sourced from on mass-produced furniture,” he notes. “We pride ourselves on being the opposite. We always consciously purchase our approved, farmed timber from local markets, never from endangered wood species or from unknown sources. And we also offer our clients veneers and finishes that they may not be able to find in shops anywhere else.”

This singular technological arrangement has proved essential in another way throughout 2020, following Paul’s diagnosis of advanced prostate cancer that made him particularly vulnerable to the added health risk of the COVID-19 pandemic. “It has been a difficult year, since I’ve had to cope with keeping the workshop going while receiving treatment and contending with the pandemic,” he shares. “I am still directing all the needs of my company – whether technical, quality control, accounts, sales, or prep – but everything is done from my little office on the roof of my home via video calls, emails and messenger. It has been about survival, on every level.” By contrast, and to balance the many challenges that Paul and his team have overcome throughout 2020, 2021 promises

Client expectations, meanwhile, remain at the forefront of Paul’s mind. “People don’t tend to look at the detail on something that has been mass-produced, but they will often look for the defects in something handmade, so the standard has to be that much higher on our part. But we will always be proud of the exquisite and unique quality of the custom-made products we create. Our clients know that their Tabbingtons item is entirely one-of-a-kind and has been made for them and them alone – so it won’t be found in anyone else’s house in the world,” he concludes. 259

Quick-fire Questions… with Paul V Tabone What is your morning routine? Coffee, phone calls and checking up on the factory. Did you have a hero when you were younger? No. Do you have one now? Jesus. Where did you work from during lockdown? My home office. Zoom calls or in-person meetings? I always prefer in-person when possible. What tool (online or otherwise) do you use most? Messenger. What’s your top tip for productivity? Quality. If I gave you a magic wand, what would you do with it? Be 100 per cent cured from cancer. What’s your favourite time of day? After the morning break. What entertained you most during lockdown? Doing online exercises with Richard Geres. Does your life today look different to 2019? Not really, thanks to the support of my family. Does your workplace today look different to 2019? Yes, but only a minor setback caused by the pandemic. Is success built on hard work or luck? First comes hard work, then hard work again. Luck never comes into it. What’s your top tip for running an entity in Malta? Honesty. What do you hope the world achieves in 2021? Overcoming COVID-19, but more importantly, reducing our dependence on fossil fuels and cleaning up the earth. What’s next for you? To reduce my working hours and spend more time with my wife (who I still call my girlfriend!).

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Sandro Zammit

CEO, BULL EUROPE LTD

“ W I T H H A R D W O R K , D E D I C AT I O N A N D S O M E FORESIGHT, ONE CAN ACHIEVE HIS DREAMS.”

E S TA B L I S H E D I N 2 0 1 5 , B U L L E U R O P E L T D – A P A R T N E R S H I P F O R G E D BETWEEN BULL OUTDOOR PRODUCTS INC (USA) AND THE ZAMCO GROUP – HAS UNLEASHED AN OUTDOOR LIVING TREND ACROSS THE EMEA MARKETS. BACKED BY DECADES OF EXPERIENCE AND HIS THREE SIBLINGS’ SUPPORT, SANDRO ZAMMIT LEADS BOTH B U L L E U R O P E A N D Z A M C O A S C E O . T H E L AT T E R ’ S M A N U F A C T U R I N G A R M R A D I C A L L Y D I V E R S I F I E D I T S O P E R AT I O N S T O B U I L D O U T D O O R K I TC H E N S T R U C T U R E S F O R B U L L .

“With hard work, dedication and some foresight, one can achieve his dreams,” asserts Alexander George Zammit, as Sandro’s official name goes.

Sandro’s first real-work experience was also catalysed by his father. “When I was 14, my dad asked me to help in the factory because it was understaffed due to the village feast. I remember not batting an eyelid and saying ‘sure’. It seemed to mean a lot to him as he said, ‘today, to me, you have become a man.’ I carry that memory with me to this day.”

Coined by his late father George P. Zammit, this family motto has become the cornerstone of Sandro’s life and work, following a childhood that gave him a front-row seat to the power of hard work and seizing opportunity. “My father founded Zamco in 1975, when I was just five years old. He was always full of ideas and dreams, working long hours with three hugely different active businesses on the go. We all became involved at a young age; some of my earliest memories were of shop talk at the dinner table, where we religiously gathered daily as a family.”

Alongside his schooling, Sandro’s work in the family business kept developing. “I had earned so much experience in manufacturing that I needed to be involved in the set-up of the machinery and offices when we moved to the new factory in San Gwann. But that led to me failing my accounting exam – much to the dismay of my teacher. Nevertheless, 260

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CEO INSIGHT “Since installing a Bull barbeque at home, I have discovered what US-style grilling is all about. One of the Bull slogans is ‘changing the way you barbeque’ – it makes grilling faster and easier. The Bull philosophy for grilling is to cook with your guests and not for them. Personally, my favourite activity is gathering with my friends and family, having a laugh and eating together. With work taking up so much time in my life, I treasure these gatherings immensely. Plus, I make a mean pork hock with crackling!” 261

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I receive a mountain of support and encouragement from my team, who are my second family. They are the driving force behind the many achievements of the company. I very much believe in teamwork and will always get my hands (and clothes!) dirty working beside them, particularly when it comes to meeting a deadline. I’m

the then-BOV Executive Chairman Tonio Depasquale looking directly at me and saying, ‘now you have everything you need, do not let anything prevent you from doing whatever you dream of’. There are very few people whose statements have stayed with me throughout my career, but this was one of them.”

not their boss; I’m their teammate.

six years later I was made responsible for the company accounts, when my passion for Excel flourished while I decoded the web of interlinked spreadsheets it was based on. To this day, I still personally prepare full management accounts up to audit stage.” Aged just 20, Sandro found himself leading a 20-strong team at the factory when his father took the first of his three retirements. Later, his father came out of retirement to set up a new venture, manufacturing and supplying lace paper doyleys internationally, while Sandro’s technically skilled brother Simon diversified into the packaging machinery business that would become AG Packaging Systems. Meanwhile, Sandro took on modern production lines for film, foil, baking paper, toilet rolls and kitchen towels in the manufacturing plant. “My father returned to the business in 2002 and set his sights on a showroom in Qormi that would raise our Group’s profile exponentially. I remember 263

The new set-up saw the four businesses previously run by each of the Zammit siblings now pooling their skills. While sharing a common office for the first time, they explored new ventures in sourcing, supplying and installing food service equipment, culminating in two major contracts supplying a new complex with multiple kitchens, as well as another state-of-the-art kitchen for a premium hotel. “It was a baptism of fire as all the installations coincided in the same month, but, as always, our great team made it work,” Sandro recollects. A chance call from one of these customers in 2013 asking him to source two industrial barbeques then paved Sandro’s path towards Bull. “I came across Bull Outdoor Products online. Their grills looked sturdy, powerful and hard-wearing, with very encouraging specs and warranties.” Sandro contacted the US supplier and arranged for three massively heavy Bull Grill Carts to be shipped to Malta by air freight, two for the customer and one spare. “Two weeks after delivery the customer called and my heart skipped a beat – but he went on to compliment us on our product, advising that they were thrilled with its

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performance, and reporting they had grilled for 1,500 guests with perfect timing and food finish,” he shares. “We decided to set up the spare Grill Cart in our showroom in Qormi and the feedback received from customers was amazing. Interest became enquiries and enquiries became sales, but mostly for private home users.” After air freighting Bull Grills from the US for 18 months, Sandro pitched the idea that they might supply Bull products beyond Malta. “I knew that if Malta had such a keen interest in this product, it was likely to be reflected across Europe, so I engaged in discussions with the California-based Bull operation about a representation agreement that would enable us to supply customers outside of Malta.” Following a visit by Sandro and Simon to Bull Outdoor Products in California in late 2014, Bull Inc owner Mark Nureddine and his VP Frank Mello, agreed that they would indeed lead the Bull brand and manufacture outdoor kitchens in Europe. By June 2015, the Malta factory was rolling out the first Bull European-made Bull Outdoor Kitchens – a quick success that Sandro credits to his siblings and his hard-working team. “I had called our warehouse manager after that US meeting and jokingly said that we were going to need the warehousing area we used to use for the doyleys. I returned the Monday following and was completely gobsmacked to find the entire warehouse of 300sqm cleared of everything to enable this to happen! But that is the mountain of support and encouragement I receive from my team, who are my second family. They are the driving force behind the many achievements of the company. I very much believe in teamwork and will always get my hands (and

clothes!) dirty working beside them, particularly when it comes to meeting a deadline. I’m not their boss; I’m their teammate.” And it was this unparalleled work ethic of the Bull Europe team that bolstered it as the company rode the tsunami of new demand created by the COVID-19 pandemic. “Since people were staying at home, suddenly there was a surge of customers seeking Bull products and outdoor kitchens for their properties,” Sandro explains. “Once the first cases were announced in Malta, I offered everyone the option of taking time off to shield or care for family members, without any loss of earnings or benefits, but no-one accepted since the workload had increased so much. Instead, we ‘isolated together’ as a team and made it work. And because of that, we never missed a beat.” While the pandemic presented new opportunities for Bull Europe, it also offered Sandro fresh perspectives. “This year has given us more confidence and the courage to hold large amounts of stock in Malta. Personally, it has also reaffirmed that gathering as a family is priceless. It’s so satisfying to know that we provide a means of bringing families together, which will be of even greater importance to so many in the future.” And the future certainly looks bright for Bull Europe Ltd, with Sandro at the helm. “We are becoming more self-sufficient, investing heavily in IT to further improve the customer experience, and exploring new products such as water features, fire pits and fire tables. We are also building a grilling school that will provide professional masterclasses for local enthusiasts, to share the fun of outdoor living even further.”

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Quick-fire Questions… with Sandro Zammit What is your morning routine? I’m up early for a gadget-free hour with coffee, before heading to the office at around 6.30am. Did you have a hero when you were younger? Maverick and my late father, George P. Zammit. Do you have one now? Still Maverick and George P. Zammit! Where did you work from during lockdown? The office. Zoom calls or in-person meetings? I always prefer personal contact. What tool (online or otherwise) do you use most? Microsoft Excel. What’s your top tip for productivity? Don’t procrastinate – get done what you have to do today. If I gave you a magic wand, what would you do with it? I would instantly transform the factory building. What’s your favourite time of day? In the afternoon at around 4pm, when production stops and I take a small breather with the team. What entertained you most during lockdown? Having all my family members around when I get home. Does your life today look different to 2019? Yes, as now I can delegate more. Does your workplace today look different to 2019? Yes, we renovated all the staff amenities as a sign of gratitude for their support. Is success built on hard work or luck? A lot of hard work and little bit of luck. What’s your top tip for running an entity in Malta? Work closely with the people around you and trust them. What do you hope the world achieves in 2021? People are generally losing perspective on what’s right and wrong – I hope that changes. What’s next for you? Preparing the next generation to take leadership in the business.

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CEO INSIGHT “I start my day by going over my schedule as it puts everything into perspective. This is important when trying to establish a sustainable work-life balance. I track the amount of time I spend at work and with my family because I can then quickly realise when the balance is off. I sometimes block off time in my calendar for family activities; otherwise, it can be difficult to shift gears and not continue working.” 266

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Andre Zarb

S E N I O R PA R T N E R , KPMG

“NOW, MORE THAN EVER BEFORE, STRONG LEADERSHIP IS CRUCIAL.”

H A V I N G R E C E N T L Y TA K E N O V E R T H E R E I N S A S K P M G ’ S S E N I O R P A R T N E R , A N D R E Z A R B I S A L R E A D Y H A R D AT W O R K O N S T R E N G T H E N I N G T H E F I R M ’ S V I S I O N I N A N E R A O F T R A N S F O R M AT I O N . H E I S L O O K I N G T O 2 0 2 1 W I T H A C L E A R F O C U S O N F I N E T U N I N G K P M G ’ S D I G I TA L E V O L U T I O N A N D B O L S T E R I N G A P O S I T I V E E N V I R O N M E N T F O R T H E P R AC T I C E ’ S CO R N E R S TO N E : I T S P E O P L E .

“Last year, we celebrated our 50th anniversary after also inaugurating our refurbished offices. We invested €5 million in creating 5,400sqm of office space to house our ever-growing team. It’s astonishing to think that we’ve evolved from 50 employees in 1979 to over 500 a few decades later.”

A half-century ago, an accountant by the name of Joseph Tabone set in motion what would eventually become one of Malta’s most renowned audit, tax and advisory companies. By 1997, Joseph Tabone & Co had been accepted as a member of KPMG’s global network of independent firms and rebranded to KPMG. Skip ahead a couple of decades, and KPMG in Malta is now headed by Andre Zarb, the firm’s Senior Partner.

KPMG has certainly been on the up and up, growing at an impressive rate. The increase in personnel is tied to a range of new services that have been added to the firm’s portfolio over the last few years, including a People and Change practice, Digital Solutions, and the KPMG Learning Academy as well as growth in core tax and audit offerings.

“I took on the role in October 2020 at a very exciting time for the firm,” says Andre, who stepped into the position after building a career leading KPMG’s tax function and advising prominent businesses, international clients and the public sector on tax and EU-related fiscal matters. As Senior Partner, Andre is now keen to build on KPMG’s strong fundamentals: its team of talented experts, solid leadership group and the clients and stakeholders who place their trust in the firm.

“I strongly believe in combining KPMG’s business expertise with leading technology to meet the challenges and opportunities of our digital age,” the Senior Partner 267

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The pandemic has highlighted the importance of driving enterprise evolution by using technology as an enabler. Embracing new technologies is no longer about

explains. “We have become more agile in innovating, growing and supporting our clients in doing the same. Innovation is vital, but perhaps even more so is keeping a steady focus: to survive and thrive, we must never lose sight of our values.”

doing things better, faster or cheaper; it is now crucial to survival and growth in a new business reality

In fact, for Andre, culture is what drives the organisation. “Trust and quality are our top priority, and they must remain at the core of everything we do,” he continues, steadfast in his view that KPMG’s sound reputation and success are thanks to its team of professionals – who, despite now working remotely, have remained as connected as ever.

– one that isn’t about going back to what once was. We’re moving forward in an era of transformation.

“We invest in our people because it is their dedication that gives us the ability to operate and specialise across sectors, including banking and finance, private enterprise, family businesses, insurance, iGaming, investment management and funds, shipping, yachting and aviation.” Andre – ever mindful of the very present challenges facing businesses – also places people and culture at the heart of KPMG’s ability to 268

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adapt to the challenges of 2020. “COVID-19 changed corporate strategies and priorities overnight, and it has reinforced the need to look after the well-being of our people, clients and wider society,” he asserts. “Beyond that, the pandemic has highlighted the importance of driving enterprise evolution by using technology as an enabler. Embracing new technologies is no longer about doing things better, faster or cheaper; it is now crucial to survival and growth in a new business reality – one that isn’t about going back to what once was. We’re moving forward in an era of transformation and are inevitably going to face many tough decisions.”

Quick-fire Questions… with Andre Zarb What is your morning routine? Wake up early, read the news and spend time with my family over breakfast – then I review my agenda for the day. Did you have a hero when you were younger? Not particularly.

And the key to coming out on top? Adaptable and robust leadership, according to Andre. “Leaders have had to respond at a record-level pace. They are the crucial conduit that directs an organisation’s strategy and its people towards reducing the impact of COVID-19 and flattening the curve.”

Do you have one now? Bill Gates – he owns one of the largest global companies but is also a philanthropist, dedicating his life to helping people through his foundations. Where did you work from during lockdown? At home. Zoom calls or in-person meetings? In-person meetings. Video calls are convenient, but the effectiveness of meeting in person is undeniable and generates stronger human connections and fewer distractions.

Strong leadership has always been central to Andre’s business life philosophy. He explains that a leader holds the responsibility of establishing a clear vision that can be transmitted across the entire business and bought into by the team.

What tool (online or otherwise) do you use most in your business? Microsoft Outlook.

“The pandemic has solidified the importance of visionary leadership, which requires clear goals, a strategic plan and the ability to empower each member of the team,” remarks Andre, explaining that KPMG has had to quickly adapt to face the challenges of our once-in-a-generation crisis – certainly the biggest since the 2009 global financial crash.

What’s your top tip for productivity? Set strict time limits for meetings. Embrace routine to help you get more things done. If I gave you a magic wand, what would you do with it? Help the environment by ceasing and reversing the negative effects of global warming and our impact on nature.

“The professional community has been given the opportunity to rethink how traditional businesses operate and diversify to increase resilience,” he continues. “At KPMG, we’ve empowered our people with an unmatched deployment of technology, enabling them to come together and work more efficiently and effectively.”

What’s your favourite time of day? Mornings – a time for intention-setting that helps me focus on the day ahead. What entertained you most during lockdown? Spending more time with my family, particularly my grandson. Does your life today look different to 2019? Significantly, as my responsibilities now lie across the entire firm.

Looking ahead, KPMG’s Senior Partner is mindful that our current health concern is overshadowing another, equally important issue: the climate crisis. “COVID-19 has accelerated our digital transformation and unveiled emerging technology initiatives – and I’m sure the professional services sector will consequently continue to evolve at a rapid pace. At the same time, though, we can’t ignore our environmental predicament, and the responsibility companies face in this regard.

Does your business today look different to 2019? Not really – except we are, of course, now working remotely. Is success built on hard work or luck? Hard work – there are no shortcuts to success. What’s your top tip for running a business in Malta? Know the market you are operating in, understand your financials, and build a strong, goal-focused team.

“Together, we can trigger positive change. As a global firm, KPMG is set on becoming a net-zero carbon organisation by 2030, aiming for a 50 per cent reduction in the organisation’s direct and indirect greenhouse gas emissions. We want to lead by example and be at the forefront of environmental initiatives. I believe that each one of us – both professionally and personally – must and can shoulder the burden to champion real, tangible change.”

What do you hope the world achieves in 2021? A COVID-19 vaccine that can be mass produced for the entire world. What’s next for you? To continue strengthening the fundamentals of our organisation. We are relentless in our drive to be the most trustworthy and multidisciplinary professional services firm.

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Peter-Jan Grech

CEO, BRND WGN

“THE WORLD HAS CHANGED AND, FOR THOSE R E A D Y T O E M B R A C E T H AT C H A N G E , T H E F U T U R E I S E X T R E M E L Y B R I G H T. ”

O R I G I N A L L Y S E T U P A S A N E T W O R K O F F R E E L A N C E C R E AT I V E S A N D S T R AT E G I S T S , B R N D W G N H A S G R O W N T O B E C O M E O N E O F T H E B E S T K N O W N A N D S U C C E S S F U L C R E AT I V E A G E N C I E S O N T H E I S L A N D . A S T H E C O M P A N Y D E V E L O P E D I T S R E P U TAT I O N A S A ‘ C H A L L E N G E R AGENCY’ RENOWNED FOR BUILDING STRONG BRAND IDENTITIES, C E O P E T E R G R E C H H A S B U I L T H I S O W N R E P U TAT I O N A S A V I S I O N A R Y C R E AT I V E L E A D E R A N D C H A N G E - M A K E R .

Peter Grech is one of those people who just seems to be good at everything he puts his mind to. Leading a business. Performing in a band. Running marathons (that’s an understatement). Raising a family. Regardless of the topic at hand, Peter always comes to it with an ease and unaffectedness that makes him a pleasure to chat to and a radical to look up to.

and enabling the vision he and his team come up with so that it can ‘become something’. “‘Dream it, make it, create it, and make it happen’ is the ethos we live by,” he says of his 28-strong team. But Peter didn’t always know he was going to run a business, although he has been walking the path towards a creative career for some time.

It’s no surprise then, that Peter plays the role of visionary at the branding agency he set up in 2006 with coFounder Kris Vella Petroni, BRND WGN. The duo was later joined by two other partners, Chris Knights and Gareth Sciberras.

When he was 13, he was part of a four-person team that published a supplement in The Malta Independent newspaper, called Teen Talk. “We wanted to give teens a voice,” he recalls with a smile. “It may have been a little project at the time, but it started my love affair with advertising. I saw it as an opportunity to get a message

Peter describes himself as ‘the guy who collects data and sets the course’, adding that he loves empowering 270

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CEO INSIGHT “Given the choice between being rich or happy, I have always wanted to be happy. I know I work best when I am rested and inspired, and that means various elements have to be aligned – health, friends, and family, as well as the excitement of working towards a business goal. Our time on this planet is very short and I want to be sure I live it to the absolute full.” 271

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out there and found myself fascinated by the arts, design and communication. I remember considering three career paths: architect, journalist, or advertising executive. The three are still pertinent as I do think I will write a book one day, and I would also love to go back to university to study architecture. As for the interim, advertising and branding it is!” One thing led to another and Peter moved from job to job in the advertising sector, starting at a magazine and then joining an agency. “I was the youngest kid in town and they made me cut my hair for that job,” he laughs. With both agency and corporate experience behind him, Peter realised he wasn’t keen on working on ‘just one brand’ and left a job in the drinks sector to start a network of creative freelancers, which he really enjoyed for a while. That’s when BRND WGN came to be. “It was probably the first proper branding agency on the island,” he says. “I originally got into it because no one else was doing it, and the industry needed to be fixed. Brands were crying out for guidance and I knew I could bring the right people together to help.

Peter says he and his fellow directors built BRND WGN on a foundation of three main principles: challenge everything, be brutally honest, and have fun. “Everything comes back to that,” he continues. “Leadership is all about setting a vision and making it actionable with the right people. I wouldn’t say I am a great leader; I know I am a good leader for the company at the moment, but I might not be in the future. Leadership is about inspiration. If it can inspire people to be better and to fulfil their purpose, then that’s a job well done. It’s not about fame or ego; that’s irrelevant.” Last year was on track to be a big one for the company. In 2015, the team sat down to draw up a vision for 2020, and it has since been the year they were working towards. “That vision was very important to us as it got us out of the weeds and changed us as an organisation. We worked on so many things – like making sure we could all work remotely while supporting our employees at the various stages of their lives (such as while studying or raising a family), and we were crafting a space known as the

“Back then there were just six of us, although things grew quickly. There were 42 of us when we were at our largest. Now there’s 28, and that feels right for now.”

Leadership is all about setting a vision and making it actionable with the right people. It’s about inspiration. If it can inspire people to be better and to fulfil their purpose, then that’s a job well done. It’s not about fame or ego; that’s irrelevant.

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Creative Campus to invest in new ways of thinking. We planned to earn more and pay more, while also investing in new business ideas we believed in.” So, when 2020 did come to pass and the pandemic hit, Peter admits the company was shocked to the core. “The good news is that we had achieved some of the things on our list a while ago. But we had also made investments along the way that we believed would pay off in 2020, and of course they didn’t.” While the BRND WGN team did anticipate an economic downturn of some description, nothing could have prepared them for what was to come. “I’ll never forget 9 March 2020, when we brought the whole team together to assess how best to support our staff and clients through what was to come. Some clients thought we were making a fuss, but we realised then that challenges were on the horizon and we had to hit back head on, so we did.” One of Peter’s only regrets of the period is that the company did have to let some of its newest recruits go. “Pre-2020 I was always adamant that we would never make anyone redundant,” he says. “And I’ll never forgive the fact that we had to, but I can justify that action. We helped to find them new jobs and have remained close to them, but I still feel bad about it. The sad truth is that no one could have seen this coming.” Meanwhile, BRND WGN’s leadership team met to tackle the challenge head-on, slashing what they could in terms of budget and pulling back in anticipation of what was to come. “We set up a daily leadership call, and that lives on today,” he says. “It’s been so good at bringing us together and helping us to monitor the highs and lows, and react to everything as soon as possible.” Meanwhile, the CEO says he stayed ‘sane’ by running and training every day, something he has long been passionate about. “My wife Gabby and family were fantastic as everything developed, and so patient. Like in so many households, Gabby became headmaster while I was head of tech, and we pulled together to home-school our three children. My training time made all the difference as I was able to get outside our four walls and think; plus I got to see Malta like never before, with no cars on the road and far less pollution. That opportunity definitely led to better leadership.” Now Peter and the company are putting 2020 behind them and reflecting on the new opportunities it has created. “They’re huge,” the CEO says. “We’ve never been closer to our clients and have been able to support them in so many ways. Plus, we were able to pivot and become so much more agile than we were, which helped us. “The world has changed and, for those ready to embrace that change, the future is extremely bright. The fact we are now remote-first means we can work with anyone and hire from anywhere, and that’s so exciting. Already we are working for clients across the globe, from the US to Australia and it’s fantastic.” Peter also says the end of 2020 wrapped up the agency’s ‘big reset’ and the leadership team are now focused on what really matters – clients they want to work for and projects they know they can take to the next level. “I love the fact that 2020 has shown us what really matters. I for one am never going to forget the lessons I have learnt,” he concludes. 273

Quick-fire Questions… with Peter-Jan Grech What is the most important part of your morning routine? Training at sunrise. It’s a new opportunity every day. Did you have a hero when you were younger? I had many, including my dad. Do you have one now? I am not one to idolise. Where did you work from during lockdown? An office in a rented apartment in Mtarfa as we were between houses. It had the nicest view of Chadwick Lakes. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most in your business? Slack. What’s your top tip for productivity? Plan and do it now. Better today than tomorrow. If I gave you a magic wand, what would you do with it? Re-plan the whole country. I’d take it back to just after the war and draw up a plan. What’s your favourite time of day? Depends what time sunrise is. What entertained you most during lockdown? My kids. Does your life today look different to 2019? Oh yes. Does your business today look different to 2019? Absolutely. Is success built on hard work or luck? The harder you work, the luckier you get. What’s your top tip for running a business in Malta? Forego the island mentality. What do you hope the world achieves in 2021? A massive reset on climate change. It’s the only thing we should be thinking about. What’s next for you? Lunch. And I am really excited about what I am calling the ‘great reset’. I hope people don’t go back to old ways.

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CEO INSIGHT “We are not just investing in our film studios’ infrastructure; we are investing in our people, in the generation to come. We want to create full-year employment in the film industry and an infrastructure that is self-sustained. And we need to ensure that the creative industries remain part of the ‘build back better’ narrative and are recognised as a crucial part of our economic and social infrastructure.” 274

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Johann Grech

M A L TA F I L M COMMISSIONER & C E O , M A L TA F I L M STUDIOS

“ M A L TA H A S T H E P O T E N T I A L , A N D W E W A N T T O AT T R A C T E V E N M O R E P R O D U C T I O N S TO O U R I S L A N D S . W E W I L L N O T S TO P D R E A M I N G TO AC H I E V E M O R E . ”

A S A S E C T O R T H AT I S D E P E N D E N T O N T H E P R O G R E S S A N D S U C C E S S O F T H E G L O B A L F I L M S C E N E , M A L TA ’ S F I L M I N D U S T R Y H A S B E E N I M PAC T E D B Y T H E E F F E C T S O F COV I D -19. H OW E V E R , P E R S E V E R A N C E A N D H A R D W O R K H A V E G I V E N A S U R E S TA R T T O R E A C T I V AT E T H E L O C A L F I L M I N D U S T R Y , S A Y S J O H A N N G R E C H , M A L TA ’ S F I L M C O M M I S S I O N E R A N D C E O O F M A L TA F I L M S T U D I O S , W I T H P L E N T Y T O L OO K F O R WA R D TO T H R O U G H O U T 2 0 2 1 .

For close to a year now, the global film industry has been suffering under the unwavering weight of the COVID-19 pandemic – productions have been postponed time and again, cinema ticket sales have slumped, and the fear of returning to closed spaces has raised the question whether streaming services will phase out the good old ‘trip to the movies’.

throughout the turbulent months of 2020. “Despite the global film industry being affected by the pandemic, Malta was one of the first countries to reactivate its film industry and open for productions,” he explains. “We worked very hard to not lose any productions that were planned to come to Malta. Unfortunately, some did lose their financing and/or move to a future date, but most were postponed by a few months, and some already wrapped their shooting in Malta – including Jurassic World: Dominion.”

Lovers of cinema and theatre, however, will beg to differ, and although the local film industry too has been affected by global events, it has continued to work hard over the past year to maintain and boost Malta’s competitiveness as a film location, in preparation for better times ahead.

Throughout 2020, in just seven active months, 11 productions from Belgium, Italy, Finland, Spain, United Kingdom, United States and Canada filmed in Malta. “We even had a couple of co-productions – Malta, UK and Canada respectively. Moreover, preparations are underway

This has been the focus of Malta Film Commissioner and CEO of Malta Film Studios, Johann Grech and his team 275

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to host a sci-fi Apple TV Series and the third season of the German drama series, Das Boot, both of which will be shooting at the Malta Film Studios.” All this is on the back of notable achievements for Johann since taking the helm of the Malta Film Commission in 2017, namely raising the cash rebate for filmmakers from 27 per cent to 40 per cent, making the financial guidelines more attractive for the film industry and enhancing Malta’s competitive advantage. “We also launched the masterplan for the Malta Film Studios, which will rebuild the studio facilities to ensure that Malta becomes a world-class film industry,” says the Commissioner. “We’re proud of attracting more people to the industry as we find solace in the arts during these challenging times. We’ve worked hard to start turning the industry from a seasonal one to having back-toback productions shooting in Malta.” Addressing the impacts of the pandemic on the Maltese film sector, Johann explains that productions halted between March and July 2020, during which time Malta’s borders were closed. “We’ve shown how Malta continues to be a great place to shoot with the added essential element of demonstrating how to do so in a COVID-secure way. That’s why we were able to reactivate the industry as soon

as the airport opened and two productions began shooting in August, including Jurassic World: Dominion,” he asserts. “Productions were somewhat interrupted due to the number of cast and crew allowed on set, other countries being closed for travel, as well as the closing of theatres and cinemas, which resulted in the postponement of productions’ release dates. However, productions had their own guidelines and protocols, and we worked hard together with our health authorities to ensure everyone abided by them.” While work on location slowed down dramatically, it provided an opportunity for the Commission to turn its attention towards other pressing matters. “We focused on the implementation of the Malta Film Studios’ masterplan and working further on Malta’s first soundstages. This is a really exciting time for us as we work towards ensuring an ever-larger percentage of productions can be shot in Malta.

We were able to reactivate the industry as soon as the airport opened and two productions began shooting in August, including Jurassic World: Dominion.

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Everyone knows Malta for its stunning landscapes and water tanks. But with the studios’ masterplan, we can offer so much more.” 2020 also saw the launch of Screen Malta, a collaboration between the Malta Film Commission and the Ministry for Tourism and Consumer Protection, which aims to create new methods for the financing of local productions. With an annual budget of €600,000, Screen Malta’s objective is to nurture and support the development and production of Maltese films and scripts, creative documentaries, and high-quality TV series, which in turn contribute towards building an indigenous film industry. “Screen Malta takes into consideration projects which can boost various economic aspects in the country, while providing direct help to Malta’s indigenous film industry, with the aim of promoting investment by local producers towards this national project,” says Johann. “This is an initiative which, for the first time ever, is open to the production of films as well as television, and which includes drama and documentaries, among others.” Various elements are considered when assessing applications for funding, including the creative, cultural and economic benefits of the production, as well as the development of skills in audiovisual productions, with the aim of boosting and encouraging employment in this sector. An independent evaluation is carried out by a panel of experts, including foreign industry professionals, while applications are open for film and script projects in all genres, including animation, for new and established filmmakers in Malta. “The Malta Film Commission follows up on the outcome of these productions on a commercial level, particularly as regards distribution, both locally and internationally, as well as for theatrical activities, festivals and TV broadcasts. We’ve managed to make some excellent local productions become a reality and I want to ensure that audiences at Cannes, Berlin and London film festivals see ‘supported by Screen Malta’ as a mark of quality and a reminder of where they should be making their productions too.” Turning his attention towards the opportunities and outlook of the industry for 2021, Johann asserts that the Commission will keep working and striving to attract more productions to Malta, to reach new milestones and to start leading in new film sectors, such as VFX and animation. “We’re also working to attract more people to join this exciting industry, while maintaining momentum to upgrade our facilities and implement more projects from the Malta Film Studios’ masterplan, and of course accommodating the different needs of any production being filmed here,” he explains. “We’re also eager to continue work on building soundstages. This is our next step, and it will create huge opportunities for our industry, including the creation of more jobs which will fulfil our ambition of seeing more people join the industry,” says Johann. “The challenges are clear. We’re looking at how the industry can be more inclusive, both in front of and behind the camera. We know we need to play our part in the fight against climate change by building a sustainable industry. And we need to ensure that the creative industries remain part of the ‘build back better’ narrative and are recognised as a crucial part of our economic and social infrastructure. Malta has the potential, and we want to attract even more productions to our islands. We will not stop dreaming to achieve more.” 277

Quick-fire Questions… with Johann Grech What is the most important part of your morning routine? Walking Benji, my dog. Did you have a hero when you were younger? I was always inspired by people who dream big, make ideas happen and create a success story. Do you have one now? Sir Peter Jackson. Where did you work from during lockdown? We did not go into lockdown, we kept working at the Malta Film Studios. Zoom calls or in-person meetings? In-person meetings. What tool (online or otherwise) do you use most in your business? WhatsApp. What’s your top tip for productivity? Focusing on delivery and achieving. If I gave you a magic wand, what would you do with it? Keep creating more opportunities for all. What’s your favourite time of day? I don’t have any preference. What entertained you most during lockdown? We did not go into lockdown. Does your life today look different to 2019? Yes, it does, especially with the global effects of COVID-19. Does your business today look different to 2019? Yes, the pandemic had an impact on the timeline of projects, but we reactivated the industry smoothly and kept moving forward with infrastructural works at the Malta Film Studios. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Don’t confuse movement with progress. Results are achieved by progressing forward and delivering. What do you hope the world achieves in 2021? Building back better. More social justice, especially following the deep impact of the COVID-19 pandemic. What’s next for you? Focus on implementing the masterplan for the Malta Film Studios.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jesmond Mifsud

C E O , M A L TA MARITIME PILOTS

“ PA N D E M I C O R N O PA N D E M I C , IT’S BUSINESS AS USUAL FOR US.”

T H E M A L TA M A R I T I M E P I L O T S C O O P E R AT I V E H A S B E E N P R O V I D I N G M A R I N E V E S S E L P I L O T S E R V I C E S , P I L O TA G E C O N S U L TA N C I E S , A N D N A V I G AT I O N A N D S E A - F A R I N G S E R V I C E S S I N C E 2 0 0 3 . I N 2 0 1 9 , T H E C O O P E R AT I V E S E T U P A M A R I T I M E T R A I N I N G C E N T R E , M A R I T I M E M T. I N S P I T E O F I T S I N A U G U R AT I O N O N L Y M O N T H S B E F O R E C O V I D - 1 9 H I T , C H I E F P I L O T J E S M O N D M I F S U D I S C O N F I D E N T I N H I S V I S I O N T H AT M A R I T I M E M T W I L L S E E M A L TA B E C O M E O N E O F T H E B E S T M A R I T I M E T R A I N I N G C E N T R E S I N T H E M E D I T E R R A N E A N A N D E U R O P E , W H I L E E N S U R I N G T H AT TO M O R R O W ’ S M A R I N E R S A R E T R A I N E D B Y T H E I N D U S T R Y .

Since he was a child, Jesmond Mifsud was drawn to the sea. “I would spend hours fishing every day,” he recalls, as he chats about his childhood and his strong ties to the water.

The self-proclaimed workaholic devotes his life – including the little free time he has – to the industry, admitting that the first thing he does when he wakes up, even before he enjoys a morning coffee, is check his phone to talk shop with his colleagues.

It was a natural next step to turn his passion into a career when, following his time as a cadet at the Nautical Institute in Malta, he became a pilot in 1988 at the young age of 23. He would then go on to lobby with his fellow pilots for status as an independent entity, and, when the cooperative was finally established in 2003, he was elected its Chief Pilot.

“Pilotage is a 24/7 service. You never stop thinking or working.” He explains that ports are hubs of activity. From cargo ships to destroyers, tourist vessels to oil tankers, the comings and goings of any ship need expert pilot handling, day and night. Jesmond’s devotion to his work is hardly surprising given the demands of the job; however, it is nevertheless inspiring. He still thoroughly 278

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“2020 was a very challenging time. Other than working harder to still hit targets, and while trying to cut down on costs as much as possible, my main challenge was to keep everyone on payroll because my personnel are the biggest asset I have.”

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We are not adequately showing our youngsters that there are several careers open to them within this industry. Considering Malta is the largest flag in Europe and the sixth in the world, the whole island should be working on ships.

enjoys it. “It’s always exciting and days are never similar. There are always new ships and new masters. I meet people from all over the world,” he enthuses. Backed by a team of skilled experts, Jesmond speaks about the camaraderie found within the cooperative. “It’s not a one-man band,” he says, stressing the importance of the support he receives from his pilot colleagues. Even so, Jesmond’s leadership mantra is clear: “manage your players well and you’ll achieve big results.” Leading a team when you’re already professionally trained as a captain makes leadership somewhat easier, according to Jesmond, because captains are trained to be fast decision-makers and to work with what they have, in the event of encountering problems when they’re out at sea. “You need to be well-prepared and take nothing for granted. You must know how to mitigate problems.” But there was no training that could have prepared them to sail through the uncertain waters of 2020 and COVID-19, and, even though it was ‘business as usual’ in the day-to-day running of the show, the pandemic slowed them down.

to ensure students are trained by the professionals within the industry. “We are not only a school. We are the industry,” Jesmond declares proudly.

“It hit us hard,” Jesmond says, when asked how it affected both their existing pilotage services and the new training centre, which had opened in 2019.

The intention was to, primarily, attract foreign students, especially from Asia, allowing the training centre to not have to compete with similar services provided for free at MCAST. However, due to travel restrictions and the difficulties in obtaining visas for non-European students, there haven’t been as many foreign enrolments, and MaritimeMT has had to rely primarily on the local market so far.

MaritimeMT in Hal Far is a €4 million investment, spread over 2,300sqm, designed in the shape of a ship, and offering several courses leading to various maritime careers, including in the superyacht industry. The cooperative’s vision for the centre was twofold: to strengthen Malta’s position as one of the best maritime training centres in the Mediterranean and Europe, and

As for the pilot services in the harbours, Jesmond goes on to say that 45 per cent of the income was affected, 281

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particularly since there were no more tourist passenger vessels in Valletta, which usually sees a minimum of three a day from May to December. But it’s not all hardship. The one silver lining brought on by the pandemic was that all stakeholders in the maritime industry worked together vigorously. “We all pulled the same rope. It brought us closer together,” he says, and on further contemplation about COVID-19, adds, “it makes you aware that we are one big village and, if something is happening in one part of the world, you can be affected the next morning. It’s time for change.” This resonates the world over, and with changes already occurring on a daily basis, it should come as no surprise that there will be shifts in the maritime industry too, come 2021 and beyond. “Vessels are getting bigger so that they can carry more cargo in one go, and this will affect our local infrastructure,” Jesmond says, as he explains that the Government is already getting ready for these changes by planning more quays and supplying electricity to the ports, so that it will be possible to use less machinery when ships are birthed, making our ports greener. There are also other positive changes that had been on the cards, but which gained more importance as a result of the pandemic, namely eLearning and Visual Reality. Both have finally been accepted by the authorities as adequate learning tools, thus helping students continue their studies while out at sea. Other than that, Jesmond strongly believes that change will happen in the mindset of the local community, with more Maltese being drawn to maritime careers and jobs. He believes that the local market hasn’t been properly tapped and wishes that more locals would choose a life at sea as their career. “We are not adequately showing

our youngsters that there are several careers open to them within this industry. Considering Malta is the largest flag in Europe and the sixth in the world, the whole island should be working on ships,” he jokes. That said, a maritime career doesn’t necessarily need to translate to that of a captain or chief engineer, Jesmond elaborates. “Not everyone is inclined to become a captain. A ship has only one captain. But when you consider the whole spectrum of a ship, there are hundreds or thousands of people working on them. Perhaps a doctor or a nail technician would like to experience working on a ship for a couple of years, travelling the world and making good money,” he says. “They can get certified and do exactly that!” Jesmond also strongly believes that job opportunities on superyachts are endless, and wonders why, in fact, there aren’t more Maltese taking advantage of this. “Why aren’t we creating opportunities and certifying these people? If Malta succeeds in attracting Maltese masters to work on superyachts, then the yacht owners would most likely choose Malta for wintering, and that would be beneficial to different sectors of the economy,” he foresees. Certification can now be achieved locally, with MaritimeMT offering courses on superyachts. And with an international certificate under the Maltese flag, which is perceived to be one of the best in the world, jobs for these students are guaranteed. “Once Britain is out of the EU, it will be the best European certificate in the world,” he asserts boldly. Jesmond’s confidence is refreshing. It is clear that, in spite of a rough and uncertain 2020, his tenacity and positivity do not waver. He has blind faith in the training centre and, even though the timing for its inception was not ideal, he is in high spirits for what its future holds, while he looks forward to a good, if not slightly tweaked, 2021 for the maritime world. 282

Quick-fire Questions… with Jesmond Mifsud What is the most important part of your morning routine? Checking in with my colleagues. Did you have a hero when you were younger? My father. Do you have one now? No. Where did you work from during lockdown? At work. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Life jackets. What’s your top tip for productivity? Take initiative. If I gave you a magic wand, what would you do with it? Heal the world. What’s your favourite time of day? All of it. What entertained you most during lockdown? Humour at work. Does your life today look different to 2019? It’s less social today, due to the pandemic. Does your business today look different to 2019? Yes, there’s less work due to the pandemic. Is success built on hard work or luck? 100 per cent hard work. What’s your top tip for running a business in Malta? Don’t give up. What do you hope the world achieves in 2021? Serenity. What’s next for you? A long fishing trip.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Karl Azzopardi CEO, INDIS M A L TA L T D

“ YO U C A N ’ T I N S T I L A N E W C U L T U R E O R P R O C E S S , O R TA I L O R S O L U T I O N S , W I T H O U T U N D E R S TA N D I N G T H E P R O D U C T F I R S T. ”

F O R M E R L Y M A L TA I N D U S T R I A L P A R K S L T D ( M I P ) , T H E N E W L Y R E B R A N D E D I N D I S M A L TA L T D O P E R AT E S A L L G O V E R N M E N T - O W N E D I N D U S T R I A L E S TAT E S A N D R E L AT E D F A C I L I T I E S A R O U N D M A L TA A N D G O Z O – T H E LARGEST INDUSTRIAL PROPERTY PORTFOLIO ON THE ISLANDS. AS CEO, K A R L A Z Z O PA R D I CO N T I N U E S TO L E A D T H E CO M PA N Y ’ S CO R E V I S I O N O F SUPPORTING, PROMOTING, DEVELOPING AND INVESTING IN THESE SITES, W H I L E F U T U R E - P R O O F I N G I N D U S T R Y I N M A L TA .

When asked to name the landmark moment in his career that has, thus far, spanned more than 30 years, Karl Azzopardi pauses, ponders, then offers a characteristically contagious smile. “It would be unfaithful to all the other opportunities I have experienced to name just one,” he says. “I like to think of life as I think of my work: as a continuous learning curve. I’m always on the lookout for challenges, as every challenge brings with it a valuable chance to learn, to grow and to improve. My life has been a chain reaction of continuous improvement.”

who had originally planned on pursuing the sciences as a career, before chance and simple logistics colluded to inspire a change in direction. “As a student I was into the sciences, so I initially intended to become a pharmacist. But the year I applied, they didn’t have enough students to fill the course, so I opted instead for a bridge job in the administration section of the Central Bank of Malta.” This temporary sidestep into the banking sector, however, quickly became more permanent. “An opportunity arose there and I was introduced to a project manager, who gave me a segue into the construction industry and into project management services,” he explains.

Such an emphasis on learning and personal evolution is perhaps understandable for someone 284

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CEO INSIGHT “Initially the pandemic was an adventure, but it quickly made me realise how important the basics of life are and how much we all used to take for granted. I’m a very tactile person and love meeting people face-to-face, but everything suddenly had to be replaced with virtual relationships. The experience has made us more human, I believe. And I have had a chance to bond even further with my wonderful three-year-old daughter, Valentina, while appreciating more the balance of our family life made possible by my wife, Dorianne.” 285

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Apart from manufacturing, there is continued growth in Malta in the knowledgebased and ICT sectors. We also expect a surge to regenerate the aviation sector following the pandemic. Then there are the financial services, crafts, pharmaceutical and logistics sectors, as well as evolving small- and medium-sized enterprises – Malta is one big hive of activity!

Karl’s transition into the industry was elevated by a determination to learn his craft. He has earned diplomas in project management, logistics and procurement, for instance, as well as in operations management from Cambridge International College. He also holds a certificate in construction management from the University of Malta and an MBA that specialised in project management and business administration from the University of Wales. Meanwhile, these extensive qualifications have complemented a wealth of experience garnered from multiple roles across three decades in the project management sphere. Karl’s impressive CV lists stints as the Head of Operations and Management at the Valletta Cruise Port, as the Director for Science Popularisation at the Malta Council for Science and Technology (MCST), and then as the Senior Projects Manager on a range of prominent projects across the Maltese islands. “Over the years I have relished the opportunities to meet so many different people, discover so many different projects, impact so many different industries – to add real value to the world,” Karl continues, remembering his time pioneering the National Interactive Science

Project following the launch of the Esplora Science Centre, as well as his substantial contribution towards the Valletta Waterfront project. “All my collective career experiences – and each one I truly cherish for the lessons learned along the way – have given me the tools I use daily in my role today as CEO. They have taught me to be organised, pragmatic and how to assess risk,” he says. “But most of all I have learned that, no matter the industry, one must understand the product to understand the organisation. We are here for a specific product. You can’t instil a new culture or process, or tailor solutions, without understanding the product first.” This people- and product-oriented mindset is also evident in Karl’s approach to leadership. “It’s the people who make the organisation; the people who make the team spirit,” he affirms. “As a CEO, my job is about striking a balance between reaching company targets and managing risk, while also maintaining good communication with the team who, after all, are the ones who make it all happen. That means generating respect, being both pragmatic and practical at the same time, encouraging positivity and sharing the rewards.” Karl’s lifelong quest for continuous improvement is applied here too. “Teamwork is the lifeblood of our organisation – success is a result of that all-important chain reaction of teamwork, learning, perseverance and constant improvement – so if there’s success, it’s shared by all. They are my second family, the office our second home,” he confides. 286

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Buoyed by Karl’s positive outlook and signature ‘smile for everyone’, the INDIS Malta team has celebrated many company milestones since he joined the organisation as CEO in 2016. “We are a forward-facing organisation, so have embarked on a number of projects that will ensure the infrastructure is in place to future-proof industry in Malta,” he explains. “Future-proofing is central to our strategy over the coming years, through the regeneration of industrial spaces that recognise the ever-changing processes within the manufacturing industry. Likewise, we must stay sensitive and sensible to the needs of the environment. Green infrastructure is firmly in our focus, ensuring that we make the most of vertical space and avoid deviating out of development zones.” While making the most of the extremely limited space available on the island, Karl is also tasked with leading an organisation that is the industry landlord for an increasingly diverse range of sectors. “Apart from manufacturing, there is continued growth in Malta in the knowledgebased and ICT sectors. We also expect a surge to regenerate the aviation sector following the pandemic,” he continues. “Then, of course, there are the financial services, crafts, pharmaceutical and logistics sectors, as well as evolving small- and medium-sized enterprises – Malta is one big hive of activity!” This industrial ‘hive of activity’ in Malta – as in every country in the world – nevertheless hit a sudden roadblock with the arrival of the COVID-19 pandemic in early 2020. “As a landlord, we had to quickly address risk assessment and contingency plans in terms of each company’s liquidity, while becoming more flexible regarding rental payments,” Karl recalls. “Of course, we also had our own company liquidity to consider, so had to strike a balance between Governmental policy and our own buffers.” While the team adapted to the radically changing business landscape, the pandemic meanwhile offered INDIS Malta the opportunity to take a step back and optimise. “We used to plan long-term, but now the short-term is becoming more important,” Karl adds. “We now think differently. The slowdown has given us a chance to reinvest, rejuvenate and reinvent.” And this reinvention was realised on no uncertain terms, with a total rebranding of Malta Industrial Parks Ltd into INDIS Malta Ltd in November 2020, in unison with the launch of a major infrastructural investment programme for Malta’s industrial sites exceeding €470 million. “The programme for industrial infrastructure is the largest of its kind to ever take place in Malta,” Karl elaborates. “It was included in Malta’s Budget 2021 as a key part of supporting the country’s economic growth following the pandemic. With a focus on sustainability and energy efficiency, the programme is set to expand the Malta Life Sciences Park, regenerate the former Luqa dump and upgrade the Kordin Business Incubation Centre, alongside many other projects that will benefit the community.” And as Karl and the team implement the first year of the programme in 2021, they will also be continuing their important work under the INDIS banner, such as the ongoing renovation of Ta’ Qali Crafts Village. “Our philosophy remains to support, so we are doing everything we can to promote local artisans by creating a family-oriented hub for their crafts,” he concludes. “We are hugely proud of this project and look forward to launching it in late 2021 – it’s another chance for us to add value to Malta.” 287

Quick-fire Questions… with Karl Azzopardi What is your morning routine? Breakfast, then straight to work. Did you have a hero when you were younger? William Wallace from ‘Braveheart’. Do you have one now? My little girl, Valentina. Where did you work from during lockdown? The office. Zoom calls or in-person meetings? I prefer in-person. What tool (online or otherwise) do you use most? Excel spreadsheets – I use them as a rough draft for everything. What’s your top tip for productivity? Be performance-oriented and give rewards. If I gave you a magic wand, what would you do with it? I’d help the world appreciate the basics in life. What’s your favourite time of day? Late afternoon. What entertained you most during lockdown? Time with the family. Does your life today look different to 2019? Yes, in that there’s no downtime or the comfort of planning a break. Does your workplace today look different to 2019? Certainly, as now we need to be more agile. Is success built on hard work or luck? Hard work (but partly luck). What’s your top tip for running an entity in Malta? Building relationships and agility. What do you hope the world achieves in 2021? Stability. What’s next for you? Another challenge!

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Joseph Gerada

R E G U L AT O R , F A M I L Y BUSINESS OFFICE

“ I T W A S R E A L L Y I N S P I R I N G T O W AT C H F A M I L Y BUSINESSES THINK OUTSIDE THE BOX AND COME U P W I T H N E W WAY S TO S E R V I C E T H E I R C L I E N T S . ”

A S A N I N D I S P E N S A B L E A S S E T F O R M A L TA A N D E U R O P E ’ S E C O N O M I C P R O S P E R I T Y , F A M I L Y B U S I N E S S E S G E N E R AT E E C O N O M I C G R O W T H A N D E M P L O Y M E N T , A N D P R O V I D E L A S T I N G S TA B I L I T Y W H I L E A L S O F A C I N G C H A L L E N G E S T H AT O T H E R T Y P E S O F B U S I N E S S E S D O N O T. B U T H E L P I S AT H A N D I N T H E F O R M O F T H E F A M I L Y B U S I N E S S O F F I C E , A N E N T I T Y L E D B Y R E G U L AT O R J O S E P H G E R A D A A N D D E D I C AT E D T O S E C U R I N G R E C O G N I T I O N A N D S U P P O R T T O T H I S V I TA L E C O N O M I C S E C T O R .

Family businesses have always been critical to the success of Malta’s economy and this is something that Family Business Office’s Joseph Gerada knows only too well – and it’s a role he takes extremely seriously.

Admittedly, his position today isn’t one Joseph saw coming. He studied law and graduated in 2014, while also working at the Ministry for Economy and Investment. “I joined one of the steering committees there that was dedicated to developing the Family Business Act and I assisted Dr Nadine Lia, who actually set up this office,” Joseph explains. “Being involved in those early days was really inspiring and I was motivated by the impact and potential of this aspect of Malta’s business world.”

As Regulator, Joseph applies the 2017 Family Business Act to the business world, to consider whether or not a company is eligible to be registered as a family business. Beyond that he promotes the Government’s vision for the sector, such as encouraging business transfer from one family member to the next seamlessly, succession planning and so on, while also finding new ways to incentivise and help family businesses by placing them on a level playing field with other companies.

Having been involved since the Office’s inception, Joseph was the obvious choice to replace Dr Lia when she was appointed Magistrate. “I instantly accepted,” he recalls 288

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CEO INSIGHT “Balance comes from being organised. There was a period in my life when I was almost 100 per cent dedicated to work, but I have since learnt to give myself time too. Yes, some days are far longer than eight hours, but I always start early and try to get the most important things out of the way first, so I can have free time later. Of course it takes discipline. There are never enough hours in the day.” 289

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Helping family businesses means making a successful change in culture, and that can only happen through education. It’s about finding the solution that best suits the business going forward, with or without the family member that started it. Just because a particular business or model was successful 20 years ago doesn’t mean it will be in the future.

with a smile. “I am very passionate about helping family businesses and my legal background enables me to do just that.” And although he only runs a small team of two employees, Joseph and the office service 188 businesses, while also reaching out to encourage others to become registered. “To me leadership is all about empowering people by giving them responsibility while, at the same time, providing a healthy working environment that aids them in developing their abilities. I am not the kind of person who tells others when and how they should work,” he says. Joseph also relishes the challenges of his varied role, and is most enthused by the opportunities to ensure businesses can carry on into the future, even if their founder is no longer in the driving seat. “Of course it isn’t always easy to go into a family business – which is sometimes fraught with the usual ups and downs that families face – and offer advice without stepping on toes or being imposing. But I see my role as one of educator, which is where my original degree in education really helps. After all, helping family businesses means making a successful change in culture, and that can only happen through education. It’s about finding the solution that best suits the business going forward, with or without the family member that started it. Just because a particular business or model was successful 20 years ago doesn’t mean it will be in the future,” the Regulator insists. 291

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

In fact, patience is one of Joseph’s greatest strengths as he guides families towards the next phase in their company’s development. “And our Office can’t do it alone,” he says. “As a result, one of our strategies involves reaching out to a wider selection of people like lawyers and notaries, so that they can pass the message on to their own clients. Family businesses can have trust issues, and they are often more likely to trust their accountant than the Regulator. The good news is that once they do trust us, they realise we are here to help and that there are numerous membership benefits they could make use of.” The trust the Family Business Office had built up came in handy at the start of the pandemic, when many businesses were hit hard by the dramatic changes to the market. “70 per cent of all businesses are family businesses,” Joseph continues, “and many were impacted. Some froze and waited for things to go back to normal, while others quickly realised they needed to start thinking about alternative revenue streams and models. Letting staff go is hard at the best of times, but when those staff members are also family it can be much harder and more complicated.” So Joseph’s role was to encourage businesses facing hardship to think outside the box, while also putting pressure on the authorities to provide the right level of assistance. “In some cases it was really inspiring to watch these family teams find new opportunities and come up with innovative ways to service their clients,” he says. As a member of the European Family Business Association, Joseph was able to seek advice from other European nations and, together, they discussed the latest Europe-wide issues and how to encourage support at an EU level too. “We walked the line between getting the right support and inspiring businesses not to be too dependent, but to find new

market demands and cater for them,” he says. As he reflects on the year, Joseph admits that the COVID-19 pandemic was impossible to prepare for. The Office itself had a number of scheduled events that ‘went down the drain’, although many did move online and actually reached more people than they may have originally. “We also launched a TV show about family businesses and have had a fantastic response. “It’s all about how quickly you adapt. This year has taught us that you have to have different revenue streams instead of keeping all your eggs in one basket. It was clear that those companies with diversified portfolios and digital channels were able to keep going more effectively than those that didn’t.” Digitalisation, in fact, is one of the issues that many of the FBO’s members were worried about pre-COVID-19, along with finding the right people to employ. “In many ways the pandemic has affected both of those issues. Many businesses have moved their pending digitalisation plans forward over the past few months, and that is a very good thing. Meanwhile, the HR shortage also changed overnight and, now, businesses have a larger pool of candidates to tap into. Both of those factors, together with the new vaccine, will hopefully mean businesses can get on their feet faster than expected,” he enthuses. As for Joseph and the Office itself, he hopes that 2021 will be the year he can achieve what he hoped to achieve in 2020 to bolster outreach and increase the number of businesses registered. “The more members we have, the stronger our lobbying power will be and the more we can help this important part of our economy. Supporting family businesses in this way, along with the planned incentives that are in the pipeline, will lead to very good things,” he concludes. 292

Quick-fire Questions… with Joseph Gerada What is the most important part of your morning routine? My first coffee of the day while checking emails. Did you have a hero when you were younger? I was at a Salesian school, so Don Bosco. Do you have one now? Gandhi; I look up to the way he brought about change. Where did you work from during lockdown? My home office. Zoom calls or in-person meetings? Zoom calls. What tool (online or otherwise) do you use most in your business? Outlook. What’s your top tip for productivity? A relaxed mind. If I gave you a magic wand, what would you do with it? Find the cure for cancer. What’s your favourite time of day? Night-time. What entertained you most during lockdown? Cooking and cycling. Does your life today look different to 2019? Far less socialising. Does your business today look different to 2019? Less personal contact. Is success built on hard work or luck? A bit of both. What’s your top tip for running a business in Malta? Be nimble and open to adapting. What do you hope the world achieves in 2021? More peace of mind and global cooperation. What’s next for you? Using my legal profession to assist family businesses.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Niki Travers Tauss MANAGING D I R E C TO R , E S P R I T YAC H T I N G

“THERE CAN STILL BE OPPORTUNITY IN THE DISRUPTION.”

E S P R I T Y A C H T I N G W A S C R E AT E D I N 2 0 0 7 T O P R O V I D E P R O F E S S I O N A L YAC H T M A N AG E M E N T S E R V I C E S F R O M S A L E S A N D D E L I V E R Y , TO YAC H T C A R E A N D T E C H N I C A L S U P P O R T. N I K I T R A V E R S TA U S S C O N T I N U E S T O L E A D T H E F A M I L Y - R U N O R G A N I S AT I O N A S M A N A G I N G D I R E C T O R , A F F I R M I N G I T S S T R O N G R E P U TAT I O N F O R E X C E P T I O N A L A F T E R - S A L E S A N D P R O D U C T SUPPORT, AS IT REPRESENTS MAJOR BRANDS INCLUDING THE WORLDL E A D I N G A Z I M U T | B E N E T T I G R O U P A N D N AU TO R ’ S S WA N .

Niki Travers Tauss is the dictionary definition of a busy man. That said, the sheer speed of his lifestyle and his myriad responsibilities do share a common theme: boats.

coming sectors took a somewhat unusual detour, into marketing and new media. “I set up a new media company called NTT Creations in sixth form around 1999, that dealt with corporate identities and websites of various kinds, back when they were a big thing,” Niki recalls with a grin. “Over the years, we built up a solid portfolio of clients, including many well-known hotels and several foreign hedge fund management companies that were based in Malta at that time.”

Niki’s passion for boating was forged early, through a childhood spent in tandem with the family business as his father delivered boats, travelled to boat shows and visited big-named production plants in the US. The lessons learned through this decadelong apprenticeship in the boating sphere are still remembered by Niki today, as he steers the way through his many vital roles across Malta’s ever-growing yachting industry.

Despite this success, Malta’s rapidly changing business market, combined with the growing needs of the family business, conspired to propel Niki back into the world of yachting. “The new boom created by the arrival of the iGaming companies on the island was one of the chief causes of the demise of the company, particularly as they were snapping up all the talent. At the same time,

However, his career journey towards taking these positions within one of the island’s most up-and294

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CEO INSIGHT “I am conscious that my work-life balance is unbalanced, but that is just part of life as a CEO. However, it is very rewarding and no two days are the same. It is a diverse and dynamic lifestyle. On the other hand, you are permanently reachable – especially in this type of industry. But I am passionate about food and being in the kitchen and that’s the way I unwind.” 295

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My role is simply to enable growth. And to do that, it’s a matter of finding the right people and delegating responsibilities to them in each company, while finding and monitoring company direction and maintaining the face and personal experience for our customers. Teamwork is vital to our success. We are a family business, in more ways than one!

the family business was moving in a new direction and my involvement was required,” he shares. His transition back into the yachting industry saw Niki become Managing Director of Esprit Yachting in 2007, determined to better establish the Azimut Yachts brand in Malta by becoming its primary dealership. “We attracted our first sale of an Azimut yacht in 2006 and became official dealers in 2007,” he confirms. “At the time, we were the only company that had a specific focus on the support side of yachting. Today, we are known for our sales of new power yachts in Malta and most especially for our after-sales experience, which is second-to-none.” Esprit Yachting also still corners the market for the extensive range of services it provides, Niki explains. “We have developed into one of the leading offerings on the island in terms of yacht management. We cover staffing, yacht maintenance, cleaning, chartering – we even stock client’s fridges with their favourite wines. It’s comprehensive; a one-stop-shop for our clients, so that they can focus on enjoying yachting as their hobby and we’ll do the rest.” Meanwhile, to further boost the range of services offered, both Niki and the company have diversified extensively, with horizontal growth into the realms of finance, yachting events and superyachts, not to mention the establishment of a major yacht marina. “We brought to Malta two very prestigious regattas in 2014 and 2016 and, most recently, have set up AB|Finance plc, which offers yacht finance to all European Azimut customers and the European 296

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Azimut Dealer network. This new financial arm of the company again strengthens Esprit’s 360-degree service offering,” Niki elaborates. To add to this impressively diverse list of achievements, the Managing Director is also leading another major project for the local yachting industry. “The establishment of the Marina di Valletta was a huge win on our part. It has been a mammoth task since it was launched in August 2016, but we are now excitingly close to completion,” he continues, referring to the regeneration and development of the state-of-the-art, 270-plus berth yacht marina, following a €8.5 million investment by a consortium of foreign and local investors including the Azimut|Benetti Group that Esprit Yachting represents in Malta. Niki also takes pride in consulting product development and product improvement at Azimut Yachts, and is also serving his third term as a Board member of the Yachting Services Business Section at the Malta Chamber of Commerce and Industry. “I firmly believe in the power of networking with other professionals and sharing business experiences – the good, the bad and the unusual – to help shape, improve and offer direction in our industry,” he continues. “My work with the Chamber for the last six years has helped me to do exactly that, in collaboration and cooperation with other industry stalwarts, entrepreneurs and Governmental bodies. It is my chance to make a real difference to our industry, as well as to the larger business world.” Charting a steady course through such a packed, albeit rewarding, working life requires a certain kind of mindset – and a certain kind of approach – to keep things moving. “My philosophy is that you need to know something about everything and everything about something. And although I do have many roles, the key to success here is that they all fall under one banner: yachts. That’s my ‘something’ – everything I do is about yachting, from services, sales and financing to products and docking,” Niki highlights. “My role, across all the companies I work with, is simply to enable growth. And to do that, it’s a matter of finding the right people and delegating responsibilities to them in each company, while finding and monitoring company direction and maintaining the face and personal experience for our customers. Teamwork is vital to our success. We are a family business, in more ways than one!” This team ethic proved particularly important as the country faced the challenges of the COVID-19 pandemic. “We had already moved to a digital communication platform, but the onset of the pandemic meant that online video conferencing became essential to keeping the business going across the board. Thankfully, the nature of our work meant that social distancing and precautions were simple to implement across all the teams. But, naturally, clients’ financial caution and the sudden lack of tourism impacted business overall. We all realised just how quickly and how drastically the status quo can change, but that time proved once again that there can still be opportunity in disruption.” While the tone of Malta’s yachting industry throughout 2020 was generally subdued, the use and appreciation of yachts increased dramatically during the pandemic and 2021 promises to be poised for growth. “This year, we are consolidating our operations with an aggressive investment curve, while gearing up to be ready the minute the market has fully recovered. Then there’s the new Azimut offices under construction and the completion of the Marina di Valletta Capitanerie and Restaurant. All in all, 2021 is shaping up to be another landmark year,” he concludes. 297

Quick-fire Questions… with Niki Travers Tauss What is your morning routine? Coffee, then work calls. Did you have a hero when you were younger? My grandparents. Do you have one now? Frontliners, after COVID-19. Where did you work from during lockdown? Half at home and half at the marina. Zoom calls or in-person meetings? It’s more Zoom calls now but you can’t replace in-person meetings. What tool (online or otherwise) do you use most? Our online group messaging app. What’s your top tip for productivity? Balance your access to your phone. (Who am I kidding?) If I gave you a magic wand, what would you do with it? Sustainability would be addressed. What’s your favourite time of day? Late evening. What entertained you most during lockdown? Whisky! Does your life today look different to 2019? Only marginally. Does your workplace today look different to 2019? It’s more prepared. Is success built on hard work or luck? Both – and swearing. What’s your top tip for running an entity in Malta? Understand the limitations of the island. What do you hope the world achieves in 2021? The freedom to travel again. What’s next for you? Sustained growth and consolidation.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Carmel Cachia

CHIEF A D M I N I S T R AT O R & C E O , E S K I L L S M A L TA F O U N D AT I O N

“ W I T H O U T D I G I TA L S K I L L S , T H E R E I S N O T E C H N O L O G Y – A N D T H AT A F F E C T S E V E R Y T H I N G . ”

E S TA B L I S H E D I N 2 0 1 4 , T H E E S K I L L S M A L TA F O U N D AT I O N I S A C O L L A B O R AT I O N B E T W E E N I T S S TA K E H O L D E R S A N D F O U N D I N G M E M B E R S , N A M E L Y T H E M A L TA I N F O R M AT I O N T E C H N O L O G Y A G E N C Y ( M I TA ) , T H E M I N I S T R Y F O R E D U C AT I O N A N D E M P L O Y M E N T , M A L TA E N T E R P R I S E , T H E M A L TA G A M I N G A U T H O R I T Y ( M G A ) , T H E M A L TA C H A M B E R O F C O M M E R C E , E N T E R P R I S E A N D I N D U S T R Y , A N D T H E M A L TA C O M M U N I C AT I O N S A U T H O R I T Y ( M C A ) . C H I E F A D M I N I S T R AT O R A N D C E O C A R M E L C A C H I A L E A D S T H E F O U N D AT I O N ’ S M I S S I O N T O I M P R O V E M A L TA ’ S D I G I TA L S K I L L S .

“I’m a digital skills preacher,” says Carmel Cachia, CEO and Chief Administrator of the eSkills Malta Foundation, the national coalition responsible for upping the island’s digital skills. And seeing as a major part of his role is ‘preaching’ the importance of being tech-savvy, it seems that Carmel’s career has been preparing him to do exactly that.

my 35 years – and counting – in the ICT and digital sector. It has been a rollercoaster of an experience.” This ‘rollercoaster experience’, as Carmel describes it, has included multiple career-defining moments. He pioneered and offered expertise in a variety of programmes and systems for companies such as Vodafone (Telecell back then) and Bank of Valletta, most notably introducing a retail banking system in the latter that the bank went on to utilise for more than 16 years. Another enduring aspect of Carmel’s legacy in the ICT sector, meanwhile, will be his pioneering work in the introduction of Java in Malta.

“I chose a career in ICT at a very young age, as I loved the fact that I was creating a system that would help people work better or more efficiently,” he shares. “In ICT you are always creating something for someone, and that propelled me to get more involved in industry. I have had many roles over 298

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CEO INSIGHT “Being a CEO is usually a 24-hour job, with the constant need to respond to anything that is required of you or the organisation. But it’s vital to enjoy what you do, and my favourite part of this role is the opportunities it gives me to engage with many different organisations and people, both locally and abroad. I have also learned the importance of finding time to switch off to relax and recharge my batteries.” 299

He is well-placed then, to lead Malta’s ICT industry into its next epoch through the unprecedented collaboration found at the core of the eSkills Malta Foundation. “When the foundation was launched in 2014, it was much-needed,” Carmel explains. “It was born of the previous work of the eSkills Alliance, whereby around 20 people from different sectors joined forces in recognition of the importance of digital skills. It was about the adoption of many cultures, with the input of contrasting industries that all have the need for digital skills in common. “That concept has now been refined in the eSkills Malta Foundation, which is also dependent on the collaboration of its founding members and its stakeholders, to drive the progress of Malta’s digital skills. Today, we are considered to be the best practice in Europe – no other country has this kind of fine-tuned eSkills organisation. I am hugely proud that we are held up as the standard.” When established, the foundation was given a list of important mandates. Apart from advising Government and industry stakeholders regarding digital skills policy, Carmel and the coalition were tasked with setting in motion ICT educational reforms, boosting the capacity of the local ICT education industry, developing the ICT profession and supporting campaigns by other entities related to digital skills. “Seeing as our mission is to offer a platform for Malta’s digital skills both locally and internationally, our work largely involves international networking, to promote our work overseas and to bring home new ideas and best practices,” continues Carmel. “In fact, the foundation is also part of the Digital Skills and Jobs Coalition within the European Commission, as well as a European Technical Committee to advance competence standards for ICT professionals. Sharing ways to improve with the rest of Europe will help us achieve so much more than going it alone.”

The pandemic revealed the need for digital skills for so many, while pushing businesses to embrace technology such as e-commerce

Energising the local ICT education sector is also high on Carmel’s agenda. “Countries such as Finland were leaders in teaching digital skills from an early age, with the benefits of that approach visible in the high quality of their ICT sector generally. This has now flourished in most countries. The ease and speed at which they apply changes in education has also helped them. We are likewise focused on expanding the curriculum in Malta, identifying areas that need improvement and making more industry experts available to students either in the classroom or through school visits into relevant companies.”

much faster than they had anticipated. This may also have a silver lining, however – the local digital sector has been given a major boost in the past few months, and this may otherwise have taken years to achieve.

Through the foundation, Malta was also the first country in Europe to launch the National eSkills Strategy 2019-2021, following a recommendation by the EU Commission to all member states. This comprehensive publication acts as the strategic hub for policy and planning at a national level regarding digital 301

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skills, which stakeholders may use to form the basis of their own strategies. “The National eSkills Strategy is agile and dynamic, yet it gives a solid structure for all the foundation’s efforts,” Carmel elaborates. “One important aspect of the strategy is ensuring that ICT professionals receive due recognition. Many individuals in the ICT sector agree that there should be a formal recognition of the profession in Malta, with national accreditation offering better transparency and accountability. We are working towards implementing this in collaboration with the Government and the local industry, using the European e-Competence Framework as a guide.” Digital competence is vital if the country is to continue making technological progress, Carmel believes. “Technology is fast. We are not computers, so we must work with technology. Without digital skills, there is no technology – and that affects everything.” With this in mind, the foundation has undertaken several studies such as the 2017 ICT Skills Audit, which is currently being reviewed to stay abreast of the current situation in Malta regarding advanced digital skills, while Carmel also keeps a firm eye on Malta’s European ranking. “Malta is placed fifth out of the 28 EU member states in the Digital Economy and Society Index (DESI) for 2020, an index compiled by the European Commission that tracks digital performance across a number of categories,” he shares. “It showed that 38 per cent of people in Malta have above basic digital skills, which outperforms the EU average of 33 per cent. On top of that we also have a higher-thanaverage percentage compared to the rest of the EU of ICT specialists and graduates. Yet, it also proved that there is still room for improvement in terms of basic digital and software skills within the population.”

And while there is still much to do in Malta to boost local digital competences, Carmel is equally focused on addressing the age-old issue of the gender gap in the tech industry. “This is an issue globally,” he explains. “Unfortunately, the digital sector is still perceived as uninteresting to women and girls; for every five males in ICT, there is just one female. But we are focused on increasing the number of women in the sector, by forming strong focus groups and carrying out studies that will provide the basis of our guidelines in this area in the future.” Meanwhile, 2020 presented new challenges for the foundation, as the COVID-19 pandemic shone a sudden spotlight upon the importance of digital skills. “The demand for our assistance was tripled overnight, so we quickly migrated many of our in-person resources online,” Carmel shares. “But the pandemic revealed the need for digital skills for so many, while pushing businesses to embrace technology such as e-commerce much faster than they had anticipated. This may also have a silver lining, however – the local digital sector has been given a major boost in recent months, and this may otherwise have taken years to achieve.” And Carmel expects the digital sector to continue moving at break-neck speed into 2021. “Technology has changed a lot over the past five years – there’s Artificial Intelligence, the Internet of Things, cybersecurity, the cloud, high-performance computing and new telecommunications innovations – and the future holds more of the same. The eSkills Malta Foundation will be in the thick of things when it comes to improving the island’s digital competences in all these emerging technologies, achieving more digital transformations and upskilling different target groups. With collaboration, perseverance and innovation, we will achieve our objectives.”

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Quick-fire Questions… with Carmel Cachia What is your morning routine? I set myself up for the day. Did you have a hero when you were younger? Spiderman. Do you have one now? Those who try to reduce poverty and hardship. Where did you work from during lockdown? Home and coffee shops. Zoom calls or in-person meetings? Zoom calls. What tool (online or otherwise) do you use most? Microsoft Teams or Zoom. What’s your top tip for productivity? Innovation and never giving up. If I gave you a magic wand, what would you do with it? I’d make COVID-19 disappear. What’s your favourite time of day? 4pm – my time to think with a coffee. What entertained you most during lockdown? Netflix. Does your life today look different to 2019? There’s more to do and not enough time to do it. Does your workplace today look different to 2019? We had to adjust to this new way of working, so yes. Is success built on hard work or luck? Hard work, but luck – or opportunity – comes into it. What’s your top tip for running an entity in Malta? Perseverance and innovation. What do you hope the world achieves in 2021? Overcoming COVID-19. What’s next for you? Achieving my objectives – business as usual!

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CEO INSIGHT “Perfectionism limits growth. This realisation is a secret to growth as it opens the path to risk-taking, which is central to business acceleration. Indeed, if we’re not stretching (and often over-stretching) we’re not able to see what we’re collectively capable of as a company. One of life’s ironies is that we grow the most from our missteps and failures.” 304

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Gege Gatt

CEO, EBO

“ R U N N I N G A CO M PA N Y I S N ’ T A L WAY S G L A M O R O U S . I T REQUIRES DISCIPLINE, ESPECIALLY IN EXECUTION.”

G E G E G AT T I S A W E L L - K N O W N N A M E I N T H E I C T S E C T O R , W H E R E H I S E N T R E P R E N E U R I A L S AV O I R FA I R E H A S S E E N H I M W E L L - P O S I T I O N E D TO L E A D E B O , A N A R T I F I C I A L I N T E L L I G E N C E F I R M E S TA B L I S H E D T O C O N N E C T B U S I N E S S E S W I T H T H E I R C U S T O M E R S T H R O U G H A I - B A S E D C O N V E R S AT I O N A U T O M AT I O N . B U T , W H AT A R E T H E S E C R E T S T O H I S S U C C E S S ?

As a champion for new technologies, entrepreneur Dr Gege Gatt is driven to accelerating digital transformations, particularly in the adoption of Artificial Intelligence tools. The CEO – who runs AI-firm EBO – started his career as a lawyer, graduating from the University of Malta in 2002, and he believes it is this educational background that gave him the skill set to push the envelope in the ICT field.

Indeed, Gege’s role today relies on these intellectual capabilities, for “most of it has to do with setting strategy, modelling and forming culture, and consistently providing clear communication,” he explains, adding that “the day-to-day, then, often involves delving into cash, product vision, brand, performance management and allocating capital to the right priorities.”

“Law provides a strong foundation for combined academic studies. More importantly it introduces one to logic, critical thinking, reasoning and analytical skills. It also provides a strong sense of justice and thirst to improve defects in ‘the system’. All of these skills are the same cognitive requirements for running a technology business. The rest (finance and IT) are learned fields of knowledge,” he insists.

Looking back, he says his career has been marked not by specific events which have pivoted his trajectory but, rather, by “unfolding instances” – lessons learnt through direct experience, which have resulted in a maturation of attitude and perspective. “For example, the consciousness that, as a leader, one of my main functions is to absorb fear and exude hope.

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Or that in leading any organisation you must serve it by giving it meaning and adding value through intelligent optimism. Or the centrality of trust and transparency with all stakeholders. Or the imperative of agility in business processes,” he asserts. His typical day is characterised by an openness to fortuitous discoveries, framed within a well-defined structure. “Because our team is spread over four countries and our customers operate across multiple time-zones my days are colourful. I confess to spending a significant amount of time planning my days in advance. I typically draw up a grid divided up into four sectors: team, strategy, product, and growth, and then list out the tasks that need to be accomplished in each sector,” he describes. He relishes the challenges each day throws his way, saying that “running a company isn’t always glamorous. It requires discipline, especially in execution.” And, he gets a kick out of finding solutions that provide a “tangible benefit in society – whether in the form of innovation or simplicity (and often both).” Human resources, he continues, is one of the most difficult functions to manage when running a business, particularly for small companies, for “it’s disappointing when people you select fail you.” Yet, he is acutely aware that “ultimately, people don’t work for a company, they work for a leader,” and this puts more responsibility on his choice of the team, he says. And it’s a responsibility he takes very seriously, particularly in light of his exacting approach to work, as he insists that there cannot be a stark separation between work and personal life. “While there are obvious practical differences, the two are a continuum. I am the same person in both ambits and bring the joys of one into the other. I love what I do, and I do what I love, and that provides meaning in my life,” he says. This passion is poured into EBO, which is based in the United Kingdom, as well as into ICON, a software development company, of which he is the Director; both firms are constantly attuned to the high-speed developments occurring in the ICT sector. Indeed, while the former, established in 2017, has, over the years, expanded into the financial services, gaming, healthcare and insurance sectors, the latter has been focused on building sophisticated technological solutions for blue-chip companies.

I love what I do, and I do what I love, and that provides meaning in my life.

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“The founding goal of both organisations was to capitalise on the wave brought about by two of the most important cultural forces of our time: Internet in the late 1990s and Artificial Intelligence in the last few years. Both companies are change agents. What they sell is not mere ‘technology’ in the restrictive sense but rather transformation opportunities. EBO, for instance, provides a promise around deep organisational transformation,” he says.

Quick-fire Questions… with Gege Gatt

Both companies have had parallel histories, Gege explains, pointing to the “moment the companies moved out of ‘start-up’ mode to stability with product-market fit.” The securing of funding, and the development of a “clear strategy” are other milestones which have enabled the firms to grow from strength to strength.

What is your morning routine? My two young boys use me as their play-mat at 6am. Did you have a hero when you were younger? I’ve always been drawn towards inventors and problem solvers. Do you have one now? I voraciously read Gladwell, Daniel Pink, Harari, Moore, Daniel Kahneman, Seth Godin, Zuboff and others.

And, last year provided plenty of opportunity for both firms – although Gege refers to EBO more specifically – to experiment with diverse technological solutions, as the world was forced to practically shut down in the wake of COVID-19. “The twin public-health and economic crises are driving changes in consumer behaviour that could have long-lasting effects in our society. EBO recognised this and adapted to the evolving needs of the market,” he explains.

Where did you work from during lockdown? My office at home. Zoom calls or in-person meetings? There’s a time, a place and a purpose for both. What tool (online or otherwise) do you use most in your business? Slack for internal communication and Teams for meetings.

Indeed, to respond to the crises, the firm, firstly, “created a dedicated AI toolset for the National Health Service in the UK to help address the growing public dialogue about COVID-19 – this is now a Microsoft AI showcase product. Next, we changed our business model to allow for a more distributed and low-risk payment process to offer more favourable terms to our customers. Lastly, and perhaps most importantly, we focused on empathy: understanding the concerns of the markets we serve and addressing these with renewed commitment and dedication,” he outlines.

What’s your top tip for productivity? Get the hardest things done first. If I gave you a magic wand, what would you do with it? I would tackle the UN’s 17 sustainable development goals. What’s your favourite time of day? Book reading with my kids. What entertained you most during lockdown? Armed with a GoPro, my family and I had some lovely weekends producing short movies.

Looking ahead, Gege expects the pandemic to have a determining effect even on the future of technology, with new tools being adopted – though these may carry risks if they are not understood properly. “It is clear that as technology is now integrated with every facet of our life, so the trustworthiness of these tools will become increasingly important in a liberal democracy,” he says, adding that trustworthiness is built by ensuring technology is lawful, ethical, robust and explainable.

Does your life today look different to 2019? Our life is different today because some of us have improved our ‘resilience’ muscle making us more equipped to handle modern life. Does your business today look different to 2019? Our customers accept remote meetings and schedule flexibility. Is success built on hard work or luck? Discipline, hard work and continuous focus are the principal pillars of success.

And, as a result, this year, the focus will be on ensuring EBO continues to establish as a specialist in such specific toolsets. “I like to tell my team to focus on things which are ‘an inch wide yet a mile deep’. This strategy is all about finding your niche; that one focus area that is going to yield the best results. EBO is extremely disciplined in selecting the business pain points it should solve. Our data science skills are advanced but more importantly than technical prowess, we deeply care about the solutions we sell, and this motivates our customers to partner with us,” he concludes.

What’s your top tip for running a business in Malta? The passion you bring to the table will be directly dependent upon your level of happiness and resilience. What do you hope the world achieves in 2021? The ability to embrace and capitalise on the accelerated adoption of technology. What’s next for you? Giving more time to my role on the Board of Humanity 2.0, and completing a Ph.D in the Philosophy of the Social Sciences by 2025.

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Miriam Teuma

CEO, AGENZIJA ŻGHAŻAGH

“ O U R T E A M A N D O U R YO U N G P E O P L E C A M E F I R S T D U R I N G T H E PA N D E M I C .”

AG E N Z I JA Ż G H A Ż AG H P R OV I D E S YO U N G P E O P L E W I T H T H E T I M E A N D S PAC E TO M A K E F R I E N D S , L E A R N N E W T H I N G S A N D D E V E L O P T H E I R TA L E N T S . C E O M I R I A M T E U M A , A L I F E L O N G V O L U N T E E R A N D P A S S I O N AT E Y O U T H A D V O C AT E , H A S L E D I T S I N C E I T S L A U N C H I N F E B R U A R Y 2 0 1 1 , G R O W I N G I T S S U P P O R T S TA F F F R O M J U S T T H R E E T O O V E R 2 5 , A N D AC H I E V I N G A CO V E T E D AWA R D F O R Q UA L I T Y S E R V I C E .

Miriam Teuma’s lifelong goal has been to support young people. From her early days as a youth volunteer to her important position today as CEO of . Agenzija Żghażagh, she places public service at the core of everything she does.

the Committee in 2018/2019 and was re-elected Chairperson for the coming year. “I truly relish the opportunity to inspire young people to learn, and to learn from them,” she smiles. Miriam says she always wanted to give back to society, but teaching – her original career – wasn’t enough for her. “I was always involved in volunteering in one way or another, so taking a place on Malta’s first Youth and Community Studies Bachelor course when it was launched in 1993 seemed like a natural step; I knew it would help me to volunteer in a more professional way.

Today Miriam sees herself as having a number of priorities, although they are all interdependent and mutually supportive. “As CEO of the agency, I am the leader and manager of our people and resources,” she explains. “I drive the national youth policy and advocate for young people.” But, alongside that, she also has other roles – such as with the Council of Europe’s Steering Committee for Youth, which she has been involved in since 2000. This gives her the opportunity to help shape European policies for young people. Miriam chaired

“I spent most of my time as a volunteer working with ZAK (the youth Catholic Action) and worked my way up from a youth leader, to a youth worker, and then President of the organisation. As an organisation, 308

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CEO INSIGHT “My role evolved in 2020 as the pace of things changed, and I had time to slow down and look at things from a different perspective. I thought about the people who work for the agency and had time to care for them more, as well as to think about their well-being. In a way, I took on a compassionate role at that critical time and I think our staff really appreciated it.” 309

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it engaged more than 1,000 people at the time and is still active today, which is always satisfying to know.” Switching thoughts to her professional career and its landmarks so far, Miriam highlights becoming a university lecturer as a key moment for her. “I moved from someone who was the primary science co-ordinator at the Directorate of Education, to a lecturer on the Youth and Community Studies course that I had followed myself,” she says. “That really was a landmark.” . After that, came the establishment of Agenzija Żghażagh in 2010, and her appointment as CEO. It became her job to fulfil its mission: to manage, implement and coordinate the national youth policy, and to promote and safeguard the interests of young people.

The important thing to remember about leadership is that such a position doesn’t last forever. You have to use it as best you can for the benefit of

“We’ve grown substantially since then,” the CEO smiles. “We went from three people in one room, to an organisation with over 30 fulltime staff, plus part-timers, and even won a national quality service award.” Since the agency opened, Miriam says she and the team have created a youth-friendly environment at their headquarters in Santa Venera that young people can use in a variety of ways. The organisation has also divided its services to cover Malta’s four regions, helping it to reach more young people than ever. This enables the agency to offer a wide range of services and programmes to young people, helping them to increase their skills in active citizenship, democracy, and other important aspects

those you are working with – and in my case that is Malta’s young people.

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of life. “We want them to be independent,” she continues. “We give them transferable skills for their future careers and other aspects of their life. This helps them to be more wellrounded and to achieve their potential in anything they want to do.” There’s no doubt that the agency’s work is critical for the country, and Miriam and her team had to work especially hard to keep their services going in 2020 when the pandemic hit. “We believe in building relationships with young people; that’s our motto,” she says. “So when lockdown happened, it was hard to know how we would sustain the group work that goes into keeping those relationships active and strong.” As with so many organisations, . everything at Agenzija Żghażagh went online. “I was surprised by how effective it was,” the CEO continues. “Young people are adaptable and tech-savvy, so in many ways it was easy – but I was still happy that it was such a success. Even our Youth Film Festival and Intercultural Week plans went virtual, and we actually reached a large amount of young people as well as adults. I am very pleased by what our team managed to achieve and by the very positive responses of the young people using our services and facilities. It certainly bodes well for the future.” Now, as she assesses how her role will continue to change, Miriam is driven by the belief that you can be a leader in many ways. “You can lead everywhere,” she says. “My mother always steered our family, for instance; you don’t need to be in a powerful position to lead. But you do have to be at the front, and to approach what you do with humility and patience – with one eye on those you are leading, and another on the future.

“The important thing to remember about leadership is that such a position doesn’t last forever. You have to use it as best you can for the benefit of those you are working with – and in my case that is Malta’s young people.” She knows that continuing to motivate both her team and the young people they serve will have its challenges going forward. “I worry that there is a move towards apathy among young people at the moment,” she explains. “They are tired of going online and, since school started, things have become more difficult. Young people are feeling drained. So my role is to keep the pace and to encourage youth workers to keep working with them. It’s also a learning experience for me and I have been enthused by just how many good ideas have been sparked by COVID-19 and the circumstances around it.” 2021 will be all about the implementation of the new national youth policy, which will be launched in early 2021. “For me this new policy is all about quality. It will support us to use our expertise to facilitate those working with and for young people to become better,” she says. Finally, Miriam says her vision is for Malta to have a youth sector that is driven by young people themselves and by their desire to become active citizens. “This will give us a stronger civil society with a critical approach and the ability to be self reflective. There’s a long way to go, but I believe the agency is trying to put this forward and to make the improvements needed. After all, there have been many positive results in the last 10 years already and that really is encouraging,” she adds.

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Quick-fire Questions… with Miriam Teuma What is the most important part of your morning routine? Coffee and a walk through the corridors to plan the day. Did you have a hero when you were younger? My dad. Do you have one now? Not really; everyone has the opportunity to be heroic in one way or another. Where did you work from during lockdown? A table in my bedroom, then back to the office after two weeks on my own. Zoom calls or in-person meetings? Today I like both and can make use of both. What tool (online or otherwise) do you use most in your business? Teams and Zoom. What’s your top tip for productivity? Patience. If I gave you a magic wand, what would you do with it? Create a peaceful and just world. What’s your favourite time of day? Sunset. What entertained you most during lockdown? Baking bread – I even have my own pandemic yeast culture. Does your life today look different to 2019? Yes, with no travel at all. I feel a bit stranded like Robinson Crusoe. Does your business today look different to 2019? Very – with all of our youth work taking place online. Is success built on hard work or luck? Definitely hard work for me. What’s your top tip for running a business in Malta? Resilience. What do you hope the world achieves in 2021? Appreciation of the simple things. What’s next for you? Who knows? I live very much in the present and take life day by day.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Sebastian Ripard

CEO, TXF TECH

“ DO N ’ T T H I N K A B O U T T H E G A P B E T W E E N W H E R E YO U A R E A N D W H E R E Y O U W A N T T O B E . F O C U S O N W H AT Y O U C A N CO N T R O L A N D , B I T B Y B I T , YO U ’ L L B R I DG E T H E G A P.”

B O L T – O P E R AT E D B Y T X F T E C H – H A S C H A N G E D T H E L A N D S C A P E O F T H E M O B I L I T Y S E C T O R I N M A L TA S I N C E I T D R O V E O N T O T H E M A R K E T I N 2019. IN LESS THAN TWO YEARS, IT HAS BECOME MANY PEOPLE’S GOT O P L AT F O R M F O R E V E R Y T H I N G R E L AT E D T O F O O D - C O U R I E R A N D C A B S E R V I C E S , A N D N O T A DAY G O E S B Y W I T H O U T T H E T R A D E M A R K G R E E N L O G O Z I P P I N G P A S T. H E R E , C E O S E B A S T I A N R I P A R D S H A R E S T H E S E C R E T T H AT U N D E R P I N S B O L T ’ S T O P P E R F O R M A N C E : D E T E R M I N AT I O N .

Competition is not new to Sebastian Ripard, CEO of TXF Tech – partners for Bolt in Malta, Cyprus and Tunisia. A sportsperson to the core, Sebastian believes in a simple formula for success: test, analyse, practise, repeat.

world. Since then, the journey of bringing Bolt to the Mediterranean has further increased my belief in the power of making small gains consistently.” Sebastian became involved in Bolt in 2019 in preparation for the launch of Bolt Food. The company first started in Estonia as Taxify in 2013, but later rebranded to Bolt when it doubled down on providing multiple transportation options beyond cars. Locally, Bolt Cabs launched as Taxify in 2018 and Bolt Food followed in January 2020. Sebastian started out as COO of the Group in August 2019 and took over as CEO in June 2020.

“Business is very similar to sport because both require immense dedication, repetition and time,” begins Sebastian. “I used to be a full-time sailor, and when we first started campaigning for the London 2012 Olympics, there was an event in which the top 100 boats competed – and we finished last. But you can’t throw in the towel because of a lack of performance. If you did, you’d be abandoning all the work you already put in.

“At the beginning, it’s easy to pocket some big wins. Then, the higher you get, the harder it becomes to secure additional rewards. But if you keep chipping away, you’ll eventually get there. I don’t like the idea

“The confidence to keep at it is vital. So, we pressed ahead and after two years, we were in the top 25 in the 314

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THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“Humans can become accustomed to crazy things, and astonishingly quickly. If in 2019 someone had said that within two weeks all businesses would have had to work remotely, we’d have all said that was impossible. But look at us now. At the end of the day, if we have to do something to survive and succeed, we will. Capturing this resolve in dayto-day life is invaluable.”

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of cutting corners to speed things up, but I also don’t worry about things that are beyond my control. I find this approach impactful when running a team because as a leader you need to be a voice of calm and reassurance.” This kind of intentional mindfulness is essential to Sebastian. The world is built up of very different perspectives, he says, and the trick lies in understanding how to piece them all together. “As CEO, I set the direction, vision and priorities for the company, but communicating that strategy is of utmost importance. How else can the team move in the same direction?” he questions.

I don’t like the idea of

And taking steps forward, no matter how small, is what it’s all about. “One of my milestones was the launch of Bolt Food in Malta,” he confides. “I’d previously had a similar business called Fetchit, from which I walked away with many lessons learned that we got to apply when launching Bolt Food in January 2020. The timing, of course, helped because the product flourished in demand due to COVID-19. “That said, we mastered our core element: establishing a marketplace that supplies consumers with couriers to deliver from restaurants. We struck the right balance between supply and demand, ensuring that enough restaurants and couriers are available, while effectively marketing to attract enough consumers to make purchases. All in all, the product’s growth has been relatively pain-free.” Before the food courier service emerged, the Maltese knew Bolt as a relatively new cab

cutting corners to speed things up, but I also don’t worry about things that are beyond my control.

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service provider, akin to Uber that had since taken the world by storm. “Bolt’s DNA is about connecting resources that previously could not be connected, all by using technology,” Sebastian continues. “Many tech companies of this kind emerged out of the 2008 crash. Bolt went on to evolve in an interesting way, starting as a ride-hailing app and then reaching into different sectors within the tech platform.

Quick-fire Questions… with Sebastian Ripard

“Across the brand, there is a real focus on mobility, which itself needs disruption. In Malta, we can’t continue relying on private vehicles, given global warming and the island’s congestion. Yet, we spend too much time waiting for the public sector to invest in infrastructure, build more roads, a metro and so on. The reality is that there are three stakeholders: the Government, the private sector and consumers. The latter can do lots in terms of choices made, but ultimately everyone thinks about themselves and their families first, and they’ll always seek to make the most economically efficient decisions.” This is where the private sector comes in, as a provider of services that allow the consumer to make economic decisions that boost convenience and are morally sound. “What is the Government’s role in this?” Sebastian probes. “Is it to solve problems by investing in infrastructure? Or to create an ecosystem, through legislation and regulation, where private enterprise can develop solutions that are viable business models and offer value to consumers? The answer is a bit of both, but whatever the case, the future lies in having a multimodal transport network rather than complete reliance on a singular method.”

What is your morning routine? I’m woken up by my two-year-old daughter. After herbal tea, we meditate together for 10 minutes, and then I work out or run. Did you have a hero when you were younger? Odysseus from Homer’s The Illiad and The Odyssey. I was drawn to his story of adventure and determination. Do you have one now? No, I wouldn’t say so. Where did you work from during lockdown? At home, in a little study on the roof. Zoom calls or in-person meetings? Calls are sufficient sometimes, but a substantial discussion is a much more productive, pleasant experience in-person. What tool (online or otherwise) do you use most in your business? Slack and Google Drive. What’s your top tip for productivity? I keep to-do lists, but try to complete five-minute tasks immediately. If I gave you a magic wand, what would you do with it? I’m not sure, but I think the biggest mistake humans ever made was going from being hunter-gatherers to farmers – that’s led to all sorts of issues.

Despite the crisis that rippled across the world, 2020 has been good for Bolt in Malta. Following the success of Bolt Food, the company’s scooter-sharing product rolled back onto the market in September and, true to form, Sebastian is looking ahead to 2021 with reserved positivity. “Our core ride-hailing business gave us stability, but that plunged after COVID-19 hit,” he explains. “Through perseverance, we instead gained stability via our two recently launched products. What I see, though, is that the pandemic has exacerbated an already-existing issue worldwide: the feeling of not having enough time while needing to act quickly.”

What’s your favourite time of day? Even though I function best in the evening, early morning is still my favourite time of day. What entertained you most during lockdown? Zoom and Hangouts, but it wasn’t always good entertainment! Constant problem-solving kept me busy. Does your life today look different to 2019? Not really, we’re still working and finding time for exercise, hobbies, friends and family. Does your business today look different to 2019? Not much has changed in how the business is run, except that people can now choose to work from the office or home.

To explain, Sebastian refers to a story that the author Malcolm Gladwell previously shared. “In a German city, there were once many VW taxis having accidents, so the company created the ABS braking system. First, accidents declined, but they soon shot up again. Why? Because people just drove faster. What this means is that as our tools and resources get better, we stop noticing the improvement and end up taking on even more tasks because it is our appetite for risk and stress that determines how busy we’ll make ourselves. The stress and pressure of 2020 were there in 2019 and they’ll still be here in 2021. Remaining calm and focusing on those things that are within our power to change is key,” he concludes.

Is success built on hard work or luck? Hard work – but then no one chooses their genes or what family they’re born into. Life is the biggest lottery we all spin. What’s your top tip for running a business in Malta? It’s all about the people: your team. What do you hope the world achieves in 2021? The realisation that we’re adaptable and can rethink our processes, society and economy. What’s next for you? To continue expanding the business internationally.

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Reuben Lautier

ARCHITECT & D I R E C TO R , N AT U R A L S T O N E WORKSHOP

“ M Y R O L E I S T H AT O F A M E D I AT O R , A C R E AT I V E , A N D T H E FINDER OF AN AESTHETIC AND A PRACTICAL SOLUTION.”

WHEN REUBEN LAUTIER BECAME AN ARCHITECT, HE SUCCESSFULLY M A R R I E D T W O O F H I S PA S S I O N S , E N G I N E E R I N G A N D A R T , I N TO O N E P R O F E S S I O N . T H E A R T I S T I N H I M CO N T I N U E S TO B E F U R T H E R S T I M U L AT E D T H R O U G H H I S W O R K AT T H E N AT U R A L S T O N E W O R K S H O P ; A M A R B L E B U S I N E S S S E T U P B Y H I S F AT H E R I N 1 9 8 4 A N D T H AT R E U B E N H A S B E E N R U N N I N G F O R A L M O S T 2 0 Y E A R S .

Reuben Lautier’s day starts with a strong coffee, background music and pen and paper.

Overall, he continues, the two go hand-in-hand, and the most enjoyable aspect of both architecture and art can be summed up in one emotion: excitement derived from the inception of an idea, that in turn drives him to see the object or project through.

A stone-crafter for 18 years now, the first step of his creative process involves conceptualising his ideas into a sketch. He then proceeds to his workshop to select a piece of marble from the wonderful variety of blocks and slabs sourced from countries like Italy, India and Brazil, to begin crafting out the object of his inspiration; inspiration that is sporadic in nature, deriving from anything from a dance to a trip, and that hits him even when he’s ‘switched off’.

After graduating, Reuben worked as an architect at AP for a number of years on some high-profile, largescale projects, such as the Malta Stock Exchange, the Valletta Cruise Liner Terminal, and the Manoel Theatre. He then worked on a variety of projects, including some personal favourites, namely the Camper & Nicholsons offices in Birgu, Giuseppi’s Restaurant, and the Malta Enterprise offices, for which the team won a Din l-Art Helwa award for architectural heritage.

Growing up, Reuben initially wanted to become an engineer but his love of art didn’t subside. So, when he discovered a profession that combined the two perfectly, there was no looking back, he says, as he recalls what drew him to study architecture.

“AP gave me my formation as an architect and a very good experience of working in a multinational team,” he says. 318

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “COVID-19 didn’t impact my trade negatively. Quite the contrary. And whilst I did make certain changes to the way we carry out our business that we will continue to practise in the future, my keepsake of 2020 will be an appreciation of all that we take for granted.” 319

In a similar fashion, the foundation he needed for his stone trade was taught to him by his late father, a stone craftsman himself. “I know how to craft marble thanks to my father,” he says, recalling the days when, as a child, he used to help him in the workshop. He continued to do so even after graduating and working as a full-time architect. Reuben’s father set up the workshop in 1984, with just one employee, and carried out regular marble works consisting mainly of stairs, floors and counter-tops. When his father passed in 2002, Reuben took over the business, naming it the Natural Stone Workshop. Today he leads a team of 15 people who design, manufacture and supply various stoneware items, and deliver projects to an array of clients, for both residential and commercial purposes. His stonework has been showcased in prominent exhibitions, including one in Valletta in 2012, at Malta Design Week in 2014, and another in Paris in 2014. Reuben still holds to heart his very first hand-crafted marble piece – a chessboard. It took around 100 hours to complete and he now exhibits it proudly in his office. Reuben also speaks fondly about his stone murals; one of them 31 metres in length and found at the Malta International Airport, the other a large and colourful fish scale mural, inspired by a trip to Bali, displayed at a private client’s residence. In all that he creates, whether it’s a small pestle and mortar or a mosaic wall, Reuben strives to keep the piece simple, grounded and timeless, while ensuring that traditional craftsmanship is not lost to the overuse of machinery.

Our ethos is quality; it’s not just buying and selling material. A lot more goes into it. We dedicate time. From the sourcing and selection

“Our ethos is quality; it’s not just buying and selling material. A lot more goes into it. We dedicate time. From the sourcing and selection process to the way we curate the job, manufacture and install,” Reuben says, explaining that he believes the reason behind his company’s success is that he aims to deliver a holistic solution when it comes to the delivery of marble and stone works.

process to the way we curate the job, manufacture and install.

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He also has the utmost respect for this natural resource, stone, which he stresses is not infinite. “I try to curate the job, reduce waste and use it in a way that is timeless,” he says. On this point, and given that he’s an architect by profession, Rueben touches upon another finite resource: limestone. “Many limestone quarries have expired,” he says, explaining that the price of stone has shot up, and that contractors today prefer laying bricks over stone because they are lighter and faster to use as a construction method. This, however, is changing the aesthetics of the country, he laments. “We have become greedy as a society. The amount of construction locally has exploded at the cost of our environment, and I am neither happy nor proud of this fact,” he says, adding that the focus locally has shifted from quality to quantity, both in terms of design and construction of the built environment, and argues that this practice needs to change. In his view. this need for change was reinforced by COVID-19, as he experienced cleaner air and sea, fewer cars on the road, and an overall stronger connection to nature as a direct effect of the pandemic. “I would love to see a greener island,” he continues, referencing the importance of finally taking the country’s environmental issues more seriously. His contribution towards this end is through the development of a series of products that promote the use of greenery both internally and externally, he shares, while he is currently also working on plans to create his own reconstituted upcycled and recycled stone, with improved properties. Notwithstanding the onset of the pandemic, 2020 was not a bad year for him or his trade, he claims. On the contrary, people were keen to do up their homes, and he was also involved in the refurbishment of a major local hotel. Still, one to always seize opportunities, Reuben considered this to be the opportune time to leap on the digitalisation bandwagon, and invested in the optimisation of the company’s computer hardware system in order for employees to keep working remotely, and in the upgrade of the Natural Stone Workshop’s website, to offer much more detailed information to clients, including useful blogs on a variety of related topics. Going forward, his most imminent project is the construction of . a new factory space in San Gwann, set to be completed by the end of 2021. “I would like us to become more innovative and more harmonious as a team, using new tools, and appealing more to clients,” he says, adding that he would also like to work with more professionals in other sectors and trades, particularly with like-minded people who are also seeking to improve not only their quality of life but also that of others around them; a goal Reuben strives to achieve through each of his timeless pieces.

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Quick-fire Questions… with Reuben Lautier What is your morning routine? Coffee, five Tibetan rites, walk, shower and off to work. Did you have a hero when you were younger? Yes. As a kid, my father George. Do you have one now? Many – Edmund de Waal, Thomas Heatherwick and Olafur Eliason. Where did you work from during lockdown? From the office/workshop. Zoom calls or in-person meetings? Both. What tool (online or otherwise) do you use most in your business? Teams and Instagram. What’s your top tip for productivity? Meditation. If I gave you a magic wand, what would you do with it? I would have the hottest workshop space on the island with all the lovely tools imaginable and invite other creatives to come and play… while I play some music for them. What’s your favourite time of day? Afternoon and early evening. What entertained you most during lockdown? The sea and cooking for friends. Does your life today look different to 2019? Why? Yes, I am trying to think of myself as a tiny part in a large universe. Does your business today look different to 2019? Why? Not so different, no. Is success built on hard work or luck? Lots of hard work. What’s your top tip for running a business in Malta? Gain people’s respect. Grow slowly and organically. What do you hope the world achieves in 2021? A change. I hope we will be more compassionate, kind and more empathetic towards each other. What’s next for you? Music. Food. Workspace.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “I start every day on call with the rest of the Debono Group leadership team, followed by a team meeting to discuss priorities. Next, it’s ‘golden time’, when I work on my priorities for the day. If I get all of that right, then everything that comes after it is a success. Planning is critical in a sector like ours.” 322

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Laura Jasenaite

CEO, COOL RIDE-POOLING

“ I F E V E N 1 0 P E R C E N T O F CO M M U T E R S C H O S E TO S H A R E R I D E S , M A L TA ’ S T R A F F I C P R O B L E M W O U L D B E S O L V E D . ”

A S M A L TA E V O L V E S , S O M U S T I T S T R A N S P O R T N E T W O R K , W H I C H H A S L O N G S T R U G G L E D U N D E R T H E W E I G H T O F I T S H I G H R AT E O F P R I V AT E C A R O W N E R S H I P . C H A L L E N G I N G T H AT N O R M I S N E W M O B I L I T Y L T D C E O L AU R A JA S E N A I T E , W H O , TOG E T H E R W I T H H E R T E A M , H A S R E D U C E D O V E R 2 0 0 , 0 0 0 TO N S O F CO 2 F R O M T H E I S L A N D ’ S A I R S I N C E T H E LAUNCH OF RIDE-POOLING SERVICE COOL IN JULY 2019.

Laura Jasenaite hates traffic and loves nature. It’s ideal, then, that she was appointed CEO of New Mobility Ltd, a subsidiary of the Debono Group and the company behind Malta’s first ride-pooling service, COOL.

COOL, Laura explains, is at the start of its mission to bring innovative transport options to Malta’s roads. But despite only launching in 2019, the company has already had a significant impact by reducing over 200,000 tons of CO2 from our air and carrying thousands of passengers on shared journeys. “Our research shows that if even 10 per cent of commuters chose to share rides, then Malta’s traffic problem would be solved – even at peak hours. Think about the incredible impact that that would have on our quality of life,” she smiles. “Add to that the fact that people find COOL to be very cost-effective when compared to car ownership, and it’s no wonder we really believe in the future of COOL and other solutions like it.”

“People won’t own their own car in the future,” Laura begins adamantly, adding that car ownership is a terrible use of resources when you consider how long cars sit idle outside your home or office. “Well, some will but it will be considered an absolute luxury. For the rest of us there will be a variety of alternatives available, from traditional public transport as we know it now, to more contemporary options like car sharing and ride pooling.”

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As a passionate marketer by profession, Laura says she was always interested in changing customer behaviour and how those changes might be influenced by developments in technology. “Mobility is very influenced by tech,” she continues. “So, it’s a very exciting sector to be part of. You can see the way transport is developing today, and how it’s reacting to data developments and mobile technology. I am a firm believer that transport as we know it today won’t exist in the future and it’s that fast-paced progression that really enticed me to the industry.” Laura brought her particular leadership style to the company; a style she says revolves around constant learning and discovering. “I try to learn something new every single day – whether that’s by chatting to new people, listening to different opinions and stories, or learning from industry experts. In general, I think as long as you are learning and evolving, you are living. My excitement for every day stems from this approach. I truly believe that anyone can achieve anything if you give them the opportunity to prove themselves.”

For the first time people saw empty roads and most of them really liked it. I think it gave an impression of what the island could be like if we implemented a strong strategy around the use of transport alternatives.

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Laura admits she had a lot to learn when 2020 struck and all the carefully laid plans the team had worked on were upended by the pandemic. “Like for so many other businesses, 12 March marked the day we shifted into work-from-home mode,” says the CEO. “Overnight, the number of passengers using our service dropped by 80 per cent and the company was significantly impacted. However, within a day or two we adapted our shared rides to private ones, so that people who couldn’t work from home could still enjoy the COOL service they had come to rely on and enjoy. We also started to offer a delivery service to help those who couldn’t leave the house, and installed Perspex partitions to protect our drivers and passengers.” Thankfully, things did start to improve in May, when the company noticed an increase in requests as the airport reopened and people were once again out and about. And even though there were subsequent drops when additional pandemic measures were put in place, Laura says daily commutes are still very popular time slots among COOL passengers. Meanwhile, one of the many opportunities that the pandemic created for the sector was the public’s new realisation of what a car-free Malta could look like. “For the first time people saw empty roads and most of them really liked it. I think it gave an impression of what the island could be like if we implemented a strong strategy around the use of transport alternatives,” Laura says. Now the CEO hopes that the increasing number of options in the market – from car and scooter sharing to ride-pooling – will have an impact. “I believe people are starting to understand that they don’t have to own a car, which is big news for Malta – an island where most people do have a private vehicle of their own. And there are so many benefits to not having one!” she smiles, “such as not having to worry about your route or where to park. I hope these factors will encourage people to consider switching in the future. After all, I believe that remote working is here to stay for most of us, so that is likely to impact the trends. I expect to see more and more people opting for higher usage of shared and innovative mobility solutions for their needs, with families choosing to have one vehicle per family. As for the long-term, that will include autonomous vehicles and smart road infrastructure, so change is definitely afoot!” Pleasingly, it’s a change that Laura and her team are geared up to make the most of and, despite the fact that COOL is still in its start-up phase, she believes the next 12 months will leave both the brand and service stronger. “My focus for 2021 is all about service, efficiency and affordability,” she says. “I really can’t wait to watch more people leave private cars behind.” 325

Quick-fire Questions… with Laura Jasenaite What is the most important part of your morning routine? Exercise. Did you have a hero when you were younger? No. Do you have one now? I admire long distance runners; I look up to what they achieve. Where did you work from during lockdown? My bedroom at home. I didn’t like it at all! Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Evernote. What’s your top tip for productivity? Schedule time for tasks and put them on the calendar. If I gave you a magic wand, what would you do with it? I’d remove all plastic from the sea. What’s your favourite time of day? Morning. What entertained you most during lockdown? Walking. Does your life today look different to 2019? Yes, I didn’t travel abroad. Does your business today look different to 2019? Yes, with more online interaction and increased uncertainty. Is success built on hard work or luck? Hard work. What’s your top tip for running a business in Malta? Invest in people. What do you hope the world achieves in 2021? Committed to fighting climate change. What’s next for you? To travel more and see my family.

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Gareth Genner

CEO, TRUST S TA M P

“ W H I L E I T WA S N ’ T T H E Y E A R W E CO U L D H AV E E X P E C T E D , I T WA S T H E Y E A R W E AC T UA L L Y H O P E D F O R ; W E J U S T H A D TO B E F L E X I B L E . ”

B A S E D I N M A L TA S I N C E 2 0 2 0 , T R U S T S TA M P I S A N A R T I F I C I A L I N T E L L I G E N C E CO M PA N Y F OC U S E D O N P R OV I D I N G I D E N T I T Y S O L U T I O N S AT T H E I N T E R S E C T I O N O F B I O M E T R I C S , P R I V A C Y , A N D CYBERSECURITY. CO-FOUNDER AND CEO GARETH GENNER HAS U S E D H I S S U B S TA N T I A L E N T R E P R E N E U R S H I P A N D T E C H E X P E R I E N C E T O E N S U R E I M P R E S S I V E S U C C E S S F O R T H I S E X C I T I N G S TA R T - U P , I N C L U D I N G I T S R E C E N T L I S T I N G O N T H E E U R O N E X T S TOC K E XC H A N G E .

Gareth Genner’s career highlights read like an international action-packed adventure. From law school to biometrics via education and mentorship, and from the UK to Malta via a long stint in the US, Gareth has let both passion and intuition guide his path.

out the company’s path while also working closely with its major strategic partners to define and deliver the services that are provided to them. The CEO first started work on the project in 2015, although it was based on intellectual property he had worked on for many years. The tech world has been central to Gareth’s career for a long time, even though he originally went into law. He then obtained a part-time job in a very earlystage tech company, that was using computerisation in the real estate sector. “I thought it would be short-term but quickly found myself in the position of interim CEO,” Gareth smiles. “It sparked my love of all things tech and entrepreneurial, and that was that.”

Today, Gareth is one the co-Founders and the CEO of Trust Stamp, a Malta-based biometrics, privacy, and cybersecurity tech start-up that was listed on the Euronext stock exchange late last year – a huge achievement by any measure. As the CEO of this exciting company – one that chose Malta as its base – Gareth says his primary role is to map 326

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“2020 has taught me that nothing is guaranteed. It’s hard to take in the many decades-old, global businesses that have been brought to their knees by the pandemic. Therefore, just as I believe every opportunity exists without limits, we do have to realise that there are risks that similarly have no identifiable limits. We must build businesses that are as resilient as possible to risks we cannot yet identify.”

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Computers came to play an important part of everything he did going forward, including as a lawyer. Then, in a twist, Gareth was offered the opportunity of a sabbatical in 2008, during which time he became president of a small school. “That was another turning point,” he continues. “We grew the school from a high school to a college and I began mentoring students in tech entrepreneurship.” It worked out rather well, and one of those graduating students asked Gareth if he wanted to start a tech company with him and, within six months, they had built a cloud storage company with over three million users. The duo then exited that company and Gareth took his proceeds to inject into a non-profit educational platform while continuing to learn about the field of AI and the impact he knew it would have on all economies and all lives. The next major development on his journey came in 2015 when Andrew Gowasack, the boyfriend (and now husband) of one of his former students who had become a close friend, asked if he would mentor him as he considered going into the business world. Gareth agreed and together they soon realised there was a tremendous need to establish trust between governments, individuals, and businesses. And that is what gave birth to Trust

AI will go through changes and Malta has the flexibility to be at the forefront of that by creating a safe and regulated environment within which companies can operate.

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Stamp, a company that today develops proprietary identity solutions to help determine whether an individual is who they say they are and if they can be trusted. “I was adamant that, when we started, we would cap our team at 12,” Gareth laughs. “I led nearly 300 people in my previous engagement and was sure I didn’t want to deal with quite so many people this time. But that early resolution of 12 did go out the window pretty quickly as we grew. We’ve now reached 70, with plans for further growth in both the short- and long-term.” It’s an openness to the belief that good ideas can come from anywhere that appears to have underpinned Gareth’s success throughout his career. “No one has a monopoly on ideas,” he says. “We run a ‘challenge environment’ at Trust Stamp, which means it is the responsibility of every member of our team to challenge anything they think could be done better or in another way. Every team member is empowered to then bring those ideas to me or a member of the leadership team.” Another key aspect of his leadership style is evident in the way team members are on-boarded to Trust Stamp without a clear designation set in stone. “We don’t put people into a role and assume that is going to be their entire career with the

MaltaCEOs 2021 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

company,” Gareth continues. “It works extremely well. For instance, our current Head of Communications joined us as a summer intern, then stayed on as a full-time intern, and rose up to the role she is in now. I can honestly say we wouldn’t be listed today without her; she’s part of everything the company does. It’s proof that you never quite know the value someone could bring to the table or where they could be the best fit.” And while some people may find that approach unusual, it’s clearly working. After all, in a year when so many sectors and businesses struggled, Trust Stamp grew in ways even the team couldn’t have imagined at the end of 2019. “In 2018, when we launched the product, our original client had exclusive rights to it, so we knew 2019 would be the year to take things to a broader market. As it turned out, the range of opportunities was wider than we could have expected, as people the world over became more reliant on remote and touchless transactions in terms of biometrics. As a result, we opened three new offices in three new countries.” Trust Stamp even had more success than expected with its capital fundraising in 2020, raising over €1 million in 24 hours, and ending up with around five times the number of shareholders they expected. “In many ways we got more attention because of the situation,” Gareth muses. “So, while it wasn’t the year we could have expected, it was the year we actually hoped for; we just had to be flexible.” Meanwhile – and right in the middle of the pandemic – Gareth made the move to Malta with his wife. “In early 2019 I was speaking at a financial services conference in London and was introduced to Brian Camilleri from Malta Enterprise. Having lived in the

US for 25 years, I have to admit that I wasn’t up-to-date on the EU and didn’t know Malta had become a member. I was keen to hear about all the developments because, with Brexit looming, we wanted to have a base in the EU and Malta turned out to be the perfect fit. Other Trust Stamp team members have moved here too, including three from the US and three from the UK. We’re very happy here.” Gareth believes that Malta should further explore the opportunities posed by the fields of biometrics as a sector that doesn’t require many natural resources or the need to scale, and which is compatible with the island’s size. “What it does require is specialisation and support,” he stresses. “AI will go through changes and Malta has the flexibility to be at the forefront of that by creating a safe and regulated environment within which companies can operate.” Finally, Gareth switches attention to thoughts on Trust Stamp’s own opportunities – and the sky really seems to be the limit. “There are great opportunities for acquisition in parallel with organic growth,” he says. “If you layer our technology on top of many other companies’ technology, it will substantially improve their product offerings. Now, as a publicly listed company, we are well positioned to make those acquisitions.” Thus, in 2021, the CEO plans to broaden the company’s customer base to move outside of financial services and into a range of other sectors, like healthcare and travel. “We plan to make at least one major acquisition and, by the end of the year, it’s not inconceivable that the company could be triple the size it is now,” he says. “Oh, and as my wife will tell you, I’ll also be spending more time out of the office and on Malta’s beautiful beaches!” 330

Quick-fire Questions… with Gareth Genner What is the most important part of your morning routine? Catching up on the overnight news. Did you have a hero when you were younger? Winston Churchill. Do you have one now? Anthony Fauci. Where did you work from during lockdown? At home in the US. Zoom calls or in-person meetings? In-person. What tool (online or otherwise) do you use most in your business? Slack. What’s your top tip for productivity? Plan your day. If I gave you a magic wand, what would you do with it? Achieve universal financial inclusion. What’s your favourite time of day? Early evening, relaxing with my wife. What entertained you most during lockdown? Watching the wildlife reappear around our house in Georgia. Does your life today look different to 2019? I live in a different country and have had to accept that my time with family and close friends is virtual. Does your business today look different to 2019? The business has grown by about 150 per cent and is in twice as many countries. Is success built on hard work or luck? Both. What’s your top tip for running a business in Malta? Engage with both the Government and with your peers in the private sector. What do you hope the world achieves in 2021? A less combative view of people who don’t share our geography, colour, faith or ethnicity. What’s next for you? My next cup of coffee.