MaltaCEOs 2023

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

F O R E W O R D

JO CARUANA – EDITOR, MaltaCEOs 2023 26

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

As always, putting this magazine together has shone a light on which trends are likely to be top-of-mind for us all in the short term. Evidently, the frantic need for peace is one of them; most of our CEOs highlighted the importance of striving for global stability as urgently as possible. The climate crisis also leads their agenda, as business leaders come to terms with the fact that the changing climate will impact everything from supply chain strength to migration and regional stability. And finally, the increased use of technology is on everyone’s mind, as 2023 looks set to be the year that AI goes mainstream and becomes part of our daily lexicon. Whether that is a good thing or not remains to be seen, but many of our CEOs know that the effective use of technology is what will set the leaders apart from the obsolete in the decade to come.

Welcome back to our exciting, annual deep dive into Malta’s business psyche. Once again, it’s time to set the scene for success in 2023.

It’s certainly been my pleasure to spend the last few months in conversation with many of our island’s leading CEOs. As always, their insight provides plenty to mull over from the months gone by, as well as foresight and predictions on what we might expect from the months to come.

It has to be said that 2022 was another challenging year for business. Aside from still reeling from the repercussions of the pandemic, the invasion of Ukraine and increased geopolitical tensions have highlighted that stability cannot be taken for granted. In fact, many of the CEOs within this year’s edition have a clear message: peace is absolutely critical.

So, it’s evident that there are no conventional paths for us to walk going forward. If the last couple of years have proved that nothing is certain, then the next couple are likely to show us that everything can be fought for – but that it’s not going to be easy. The old rules have changed and, to some, that’s frightening – but for others that means the game is just getting started. There’s everything to play for, so let’s get stuck in.

But, as we look out at a world that seems changed from the one we chatted about in the earlier issues of this publication, it’s clear that business has an important role to play in humanity’s next steps. As always, it is business that keeps so many wheels turning and, as such, this community has a responsibility to help mould the future.

In fact, as you’ll see on these pages, many of our CEOs are eager to take on that challenge and excited to embrace the opportunities it will present.

PUBLISHER

Content House Group Mallia Buildings, 3, Level 2, Triq in-Negozju, Zone 3, Central Business District, Birkirkara CBD3010 Tel: +356 2132 0713 info@contenthouse.com.mt www.contenthouse.com.mt

I trust that you will relish your time with our CEOs as much as I have. Happy reading.

Jo

EDITORIAL TEAM

Rebecca Anastasi, Martina Bartolo Parnis, Laura Bonnici, Rebecca Cachia, Cat Calabrese, Paula Fleri Soler, Lea Hogg, Philip Leone-Ganado, Rebekka Mamo, Dean Muscat, Sarah Muscat Azzopardi, Maureen Saguna

CREATIVE DIRECTOR & DESIGN Nicholas Cutajar

MaltaCEOs 2023 is published and owned

by Content House Group Ltd.

DIRECTOR OF SALES & OPERATIONS

EDITOR

HEAD OF DIGITAL & MARKETING

Jo Caruana

HEAD OF SALES & BUSINESS DEVELOPMENT Marie Claire Camilleri

Lindsey Napier Raisa Mazzola

OPERATIONS & CLIENT RELATIONSHIP MANAGER Elena Debattista

SHOOT COORDINATOR & EDITORIAL ASSISTANT Angie Amato

MAIN PHOTOGRAPHER FOR CEOS SHOOTS Bernard Polidano

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Because we care about the environment, MaltaCEOs 2023 is printed on FSC-certified paper, a certification which provides assurance that the paper is from sustainable and well-managed sources, thereby minimising its environmental impacts.

Content House Group Ltd would like to thank all the protagonists, contributors, advertisers and the project team who have made this publication a success.

The selection process of the 50 CEOs featured in the 2023 edition of this prestigious publication has been made at the sole and exclusive commercial and editorial discretion of the publishing company.

Interviewees have not been featured in any particular order.

The publication is distributed to leading businesses and companies in Malta, as well as to prominent business people and CEOs in Malta, and distributed for free to leading law firms, accountancy and audit firms, banks, business centres, financial institutions, Government agencies and ministries. The publication is also distributed to select embassies and consulates in Malta, car showrooms, pharmacies, hospitals and clinics, yacht marinas, IT and software companies, recruitment companies, advertising agencies, architecture firms and hotels.

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Thriving Through the

2023

As it navigates the post-pandemic economy, the global business world may have hoped that 2023 might bring stability. However, with soaring interest

rates, rampant inflationary pressures, ongoing supply chain disruptions and delays, as well as prospects of a recession – all set against the backdrop of

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ECONOMY the invasion in Ukraine – it seems the year ahead holds yet more economic turmoil for the world of business.

Here, some of Malta’s top business personalities weigh in on the challenges to come in 2023, and how businesses can survive and thrive throughout.

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Stability and predictability may be desirable, but periods of uncertainty typically usher opportunity.

GORDON CORDINA

Economist

As a leading economist, Gordon Cordina has more than 25 years of professional experience in banking, policy-making, academia and private sector consultancy.

A graduate of both the University of Cambridge and of Malta, his main area of academic interest is the growth and macroeconomic dynamics that face economies prone to heightened risks.

“Periods of uncertainty typically usher opportunity. Stability and predictability may be desirable, but they offer limited scope for the business disruption, innovation and creativity needed to thrive in adverse, or riskier, business conditions.

“The current macroeconomic situation presents three major sources of uncertainty, which won’t affect all businesses in the same manner. The first is the expected growth in clients’ purchasing power, as major European and other economies enter recessionary conditions. The second is the rate of

price increases, which may affect the cost side differently to the income side of the business. The third is interest rates, which are rising substantially globally, but which will not necessarily remain high for long and which, in Malta, have remained largely unchanged.

“Businesses should develop strategies to counter or absorb adverse shocks and exploit opportunities, while working harder, more effectively and efficiently.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Having the right liquidity will be a critical component of futureproofing businesses and building their resilience.

STEPHANIE FABRI

Economist and lecturer at the University of Malta Stephanie Fabri specialises in strategic management and public policy, and has a wealth of knowledge and experience in applying economics to firms, consumers and communities in both private and public sectors. She is also a non-Executive Director at IZI Finance plc and a Board Member of the Malta Stock Exchange plc and the Environment and Resources Authority.

“In recent years there has been a collective realisation that the global environment is being characterised even more by Volatility, Uncertainty, Complexity and Ambiguity (VUCA).

The world thought that COVID-19 was the perfect embodiment of VUCA, however the current war in Ukraine is yet another reminder of how these elements characterise our reality.

“The answer in dealing with VUCA rests with VUCA 2.0: Vision, Understanding, Courage and Agility.

Vision is the ability to see through the fog and plan ahead for a changed future, while leaders must understand their organisation’s strengths and potential blind spots to strategise. Courage is the audacity to make decisions based on calculated risks, with the agility to change and adapt.

“For companies aiming for growth in 2023, the adage that ‘cash is king’ remains true. Having the right liquidity will be a critical component of futureproofing businesses and building their resilience.

Plus, we need to work more to integrate primary industries such as fisheries, aquaculture and agriculture into the general economic ecosystem, particularly after COVID-19 highlighted the importance of food security.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

MANFRED GALDES

Managing Partner at ARQ A lawyer by profession, Manfred Galdes has over two decades’ experience in regulatory and AML compliance, with leading roles both in the private and public sectors. His multidisciplinary team at ARQ advises and ensures the compliance of major domestic financial institutions and top-tier gaming companies. He is also a non-Executive Director and Chair of the risk committee of HSBC Malta plc.

“Uncertainty is a word most economic commentators are using for 2023’s outlook, and which is not usually associated with a stable economy. However, I believe that Malta’s economy can remain resilient to shocks that uncertainty might bring. Our island’s economy is far less concentrated on more cyclical sectors like tourism or discretionary spending than it has been, while it has positively embraced technology-linked sectors. So it is wellplaced to weather any moderate to heavy storm that might arise.

Uncertainty can be positive as it may present new business opportunities.

“Although economic stability is undoubtedly what most business owners would opt for if they had the choice, uncertainty can be positive as it may present new business opportunities.

“During any period of uncertainty, the welltrodden path is that ‘cash is king’, which still rings true. Maintaining cash flows and preserving liquidity to provide flexibility in the event of a crisis is still a sound risk management principle. For more resilient businesses, cash reserves can also cover opportunistic acquisitions or capitalise on new market opportunities.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ABIGAIL AGIUS MAMO

CEO of the Malta Chamber of SMEs As a long-standing figure at the Malta Chamber of SMEs, Abigail Agius Mamo has contributed to the stability of the organisation and its regeneration and renewal. Her experience and expertise revolve around economic topics of competitiveness and sustainability of enterprises, representing the interests of businesses on high-level fora.

“Our ability to plan is one of the major changes following the pandemic, with the need for flexibility and resilience foregoing lead times and rigid advance planning practices. However, having long-term plans, visions and goals are still essential for forward-looking businesses.

“Malta should retain its current stability in 2023, since we have reassurances and safeguards in place that cater specifically for that. When compared to what is happening abroad, Malta is faring well due to our stability. Stability generates further growth and wealth, which in turn contribute to the positive economic cycle.

What was once unthinkable not only became possible, but the new norm.

Photo by Daryl Cauchi

“There have been significant changes in the way companies conduct their business in recent years. Company and consumer expectations have changed dramatically, seen in almost everything from hiring practices and skills needs to personal priorities, growth strategies and contract terms. What was once unthinkable not only became possible, but the new norm.

“Businesses should look at their overall strategies for the next few years, including their position on important topics in today’s economic strategy such as digitalisation, sustainability and employee retention, while building their competitive edge through innovation.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

DAVID PACE

Head of Advisory at KPMG Malta David Pace heads the advisory function of KPMG in Malta: one of the broadest and largest multidisciplinary teams on the island servicing local and international clients in the private and public sectors.

“When navigating a ship, you may seek to chart the best course, but equally you must be ready to tackle the unpredictable waves as they hit – and a business has no option of a safe harbour. Resilience depends on how you respond, and how you prepare yourself to respond. Businesses should leverage the power of data as well as their teams’, customers’ and suppliers’ insights, while seeking out different ideas, exchanging perspectives and not forgetting the value of professional advice.

Stakeholders must now join their vision and implementation to achieve an economic environment that works in the face of many moving parts.

“In 2023, we need more entrepreneurially minded individuals and teams as business faces unprecedented challenges. During the pandemic, we saw adaptation to the new reality.

More than ever, stakeholders must now join their vision and implementation to achieve an economic environment that works in the face of many moving parts. And, in terms of our positioning and resources, today affords far less room for error. The quality of good leadership thus makes a tremendous difference. Talent, grit and a desire to do good while doing well are increasingly important in today’s business environment.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

There is a lot of good that happens around us every day that goes unnoticed.

DENISE XUEREB

Construction and Development Director at AX Group, CEO of AX Real Estate plc and Executive Director on the AX Group board As one of the few women operating in the top-flight of the local construction industry, Denise Xuereb has spearheaded landmark projects such as the Parliament Building, and the construction works of the new Caravaggio centre within St John’s Co-Cathedral. She currently leads two major projects at AX Group: the extension and refurbishment of the Seashells Resort at Suncrest and the redevelopment of the Suncrest Lido, as well as the redevelopment of the Verdala Terraces and Hotel.

“The different dynamic of recent years has made us more agile, alert and focused on the present.

The pandemic provided a reality check about what is really important and changed outlooks.

This is evident from changes in work patterns and a much larger emphasis on work-life balance.

Nevertheless, businesses should not just focus on the present. It is our duty as business owners and visionaries to adapt our work practices and businesses to be flexible, not only to keep up with evolving trends but to be ahead of the game with medium- and long-term strategies.

“No one in 2019 could have anticipated what the world would go through in the following three 37

years, but we all saw patterns and trends following the pandemic. Keeping close to the ground, and talking to customers, employees and stakeholders will give you a pretty good sense of where trends are heading. Lack of agility, a slow reaction time and a lack of flexibility may result in organisations falling behind.

“I choose to remain positive, as I believe in and support ‘Product Malta’. There is a lot of good that happens around us every day that goes unnoticed. New concepts and developments achieve a constant process of innovation, growth and improvement.”

MaltaCEOs 2023

Photo by Antonio Cadoni

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

A business can sustain growth by identifying solutions and leveraging strengths, repositioning and even diversifying.

SVEN VON DER HEYDEN Chairman and Founder at Von der Heyden Group

Following the successful placement of a new €35 million bond issue and with more than three decades of trust in nearly 20 cities across Europe, Sven von der Heyden’s Group brings a wealth of experience in real estate investment, as well as a series of complementary brands in the luxury sector.

have proved that having eco-ethos in a business model is not just a CSR move, but an essential means to collective, planetary survival. Soon, those businesses that do not integrate climate action into their value chain will be left behind.

“Data-based and realistic planning is always the best road to success. A business should be steered by a synchronised long-term strategy designed to reach both long- and short-term goals. Today’s ever-changing, AI-fuelled, fastpaced world has triggered a rigorous agility standard that demands businesses to adapt to change quickly.

“In 2023 and beyond, customer experience, AI innovation, quality and climate action should be at the forefront of everyone’s business agenda. Taking measures to reposition the island as an exclusive luxury destination may be ambitious, but in the long run will position Malta more sustainably.”

“A business can sustain growth by identifying solutions and leveraging strengths, repositioning and even diversifying – always on the rails of the strategic timelines. Limited resources and skyrocketing energy prices

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

NORMAN AQUILINA

Group Chief Executive of Simonds Farsons Cisk plc With Norman Aquilina at the helm as Group Chief Executive, Simonds Farsons Cisk plc holds a leading market position in the beverage industry and FMCG sector. Apart from brewers and beverage producers, the group includes subsidiaries within the food and beverage importation, and fast-food franchise business.

“Considering today’s volatile environment, staying nimble and vigilant is critical. While this may imply the need to maintain a responsive short-term strategy, what is certain is that both short- and long-term strategies should remain intrinsically linked. Although you must stay watchful of your bottom line, this should never come at the cost of losing sight of the horizon.

“Being confident when predicting major threats to the industry in today’s unstable circumstances is difficult, but we are now better prepared to take on whatever the market may throw at us. Mainly driven by supply chain considerations, businesses are opting for flexibly structured outfits and more variable cost-based business models, which are more responsive and adaptable to a rapidly changing environment.

To stay competitive, you must be fully equipped and prepared to tackle the changes with a proper set-up and – equally important – the right mindset.

“It is increasingly difficult to anticipate any trending changes, so being able to swiftly adapt, react and respond have become more important than ever before. To stay competitive, you must be fully equipped and prepared to tackle the changes with a proper set-up and – equally important – the right mindset.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Can Founders Keep Their Edge Year After Year?

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

BUSINESSES ARE NOT DEMOCRACIES. UNLIKE PRIME M I N I S T E R S , A C E O O R A F O U N D E R C E O C A N S T AY I N T H E I R R O L E F O R D E C A D E S . I N M A LT A E S P E C I A L LY , MANY ENTERPRISES CONTINUE TO FIND SUCCESS WITH ENTREPRENEURIAL CEOS WHO OWN OR FOUNDED THEIR BUSINESS DECADES AGO – AND FOR SOME THIS HAS BEEN A WINNING RECIPE. N E V E R T H E L E S S , M A LT A C E O S D A R E S A S K T H E U N A S K E D Q U E ST I O N : S H O U L D A C E O H AVE A N EXPI RY DAT E? H E R E , S O M E O F M A LT A ’ S T O P F O U N D E R C E O S , C E O S AND BUSINESS LEADERS SHARE THEIR VIEWS.

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

JONATHAN SHAW CEO at Retail Marketing Ltd, the company behind Welbee’s Supermarkets

Jonathan reflects on the pros and cons of a step such as this one. “The passion and drive of a founder is unique, yet there are times when founder CEOs are better off stepping out from leading the dayto-day. It means they can direct their energy and passion towards other areas that can benefit the organisation.”

Appointed CEO following the launch of Welbee’s in 2021, Jonathan Shaw harnesses the wealth of experience from the company’s founder shareholders that drove its component supermarket brands to original success.

“Until March of 2021 – prior to the merger within our group – the shareholders managed the day-to-day supermarket operations with a hands-on approach,” he explains. “While there were a few structural differences between them, each supermarket’s owner was heavily involved in leading the business from a dedicated location. This engaged leadership style – with its hard work and awareness – worked.

Over the years the founders in question grew small family-owned grocery outlets into fully fledged supermarkets. As the sector itself is hugely competitive, complex and dynamic, with many moving parts, the business leadership story is clear: roll up your sleeves, work hard, be passionate and the results will come.”

With his own diverse career across event management, TV production, marketing, online travel and retail, Jonathan shares one key aspect of effective long-term leadership: adaptability to change.

“Any leader that doesn’t evolve and grow has a shelf life. Great leaders should aim to make themselves redundant. This mindset alone pushes them to evolve out of their comfort zone and, in doing so, make space for others to grow and fill the gap they leave. Change is the only constant in life, so effective leadership is one that drives change to address current and future challenges.”

The merger to become Welbee’s, however, presented both challenges and opportunities, with so many shareholders and styles to unite. “It was a total gamechanger,” says Jonathan. “The brand’s footprint grew overnight, and we could see a synergetic effect in market penetration. Yet, it involved restructuring the company, and required the shareholders to move away from the daily operation of their businesses.

Although most changes are good changes, change is always change.”

“Any leader that does not evolve and grow has a shelf life. Great leaders should aim to make themselves redundant.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ANDY GATESY Chairman and CEO of Toly Group

Since 1991, Andy Gatesy has channelled his vast experience and knowledge of the cosmetic packaging business to evolve the Toly Group into a world-leading supplier with manufacturing plants in Europe and Asia. It now boasts an international network of sales offices and global partnerships, as well as a diversified product portfolio.

“True leaders should be measured by the talent they build and the legacy they leave behind.”

“I took over as Chairman and CEO when my father died, so I have been running this business for more than 30 years – and the world has changed in that time,” Andy attests. “We have increased from around €6 million to over €100 million in sales and continue to be ambitious with a strong growth plan.”

I can keep reinventing the business model and stay relevant and ahead of our competitors. To continue in the role, I must not become complacent but remain humble, determined and committed to a better future.”

Andy explains that Toly is disrupting the world of beauty packaging by evolving from a purely industrial player to become a global beauty development platform. “We want Toly to be the Uber of the beauty industry, connecting our customers to a range of different services in an ecosystem of internal capabilities and external partners,” he says. “In this journey, we need different skills and resources – and the people around you need to grow with the company and take it to the next level.”

Toly’s core values also play a key role in this equation – as does nurturing its people to become the leaders of tomorrow. “As a privately owned business, we have a long-term vision built around investing in people, customers and creativity,” Andy says. “True leaders should be measured by the talent they build and the legacy they leave behind. If we don’t take the time to develop the next set of leaders, we will leave the company in a worse place. We must mentor and coach the next generation to succeed us. Everybody has their own destiny, but not everybody has the courage to follow it. At Toly we will because we know the future is now.”

As CEO, he goes on, he must both embrace the future and represent the past. “For me, the key to success is to keep learning and evolving as a leader. Staying in this leading role for so many years gives me the advantage of knowing the history and understanding where we came from, yes. But I also know I must have a sponge between my ears instead of a rock, so

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MaltaCEOs 2023

Photo by Inigo Taylor

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

ROBERTA LEPRE Founder and Lead Consultant at Weave Consulting

Nevertheless, when the time is right for a change in leadership, communication is key, Roberta stresses.

“It is important that the expectations of the company in terms of leadership are communicated clearly at the start of the relationship. Having clear and ongoing communication in place helps to ensure that, when the time for change comes, all stakeholders are on board and the new leader finds the support they need to function effectively.”

“Organisations grow and evolve, and in my view so should the leadership of that organisation,” asserts Roberta Lepre, a lawyer with over 20 years’ experience working in the public, private and non-profit sectors, and the Founder and Lead Consultant at Weave Consulting. “The leadership style and approach need to change according to the organisation’s evolving circumstances. A founder CEO might fall into the trap of insisting on their original vision and resisting the change needed for that organisation to evolve.”

Succession planning is likewise critical. “The most sustainable approach is one through which leaders are nurtured from within – so a succession plan is important. The board of the company should develop and endorse a policy on succession planning, which would help it create a pipeline of potential leadership candidates ready to take on the role when the need arises. The current CEO could move to a less handson role, which would enable them to still contribute experience and expertise,” Roberta concludes.

Since change is at the core of Weave Consulting, which helps both large companies and SMEs to innovate through integrating environmental and social considerations into their business model, Roberta understands the benefits of leadership that grows in parallel with the company. “Today, there are more opportunities for professional development than ever before. Besides formal courses, there are business networks through which CEOs and senior leaders can learn from each other. However, it all depends on the individual – and whether they are open to new ideas and ready to change and adapt over time.”

“A founder CEO might fall into the trap of insisting on their original vision and resisting the change needed for that organisation to evolve.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

NATHAN FARRUGIA Managing Director of Vistage and Founder and Director at UP

leader to grow and make the right decisions; a leader who is human, carrying significant responsibility and expectations, and often alone. As a peer group network, a global and local community helps share the burden of leadership and create positive impact.”

Entrepreneur, storyteller, author, philanthropist and adventurer Nathan Farrugia leads Vistage in Malta and the UAE, drives the UP executive training academy and UN Limited events, and is a board member at Inspire, the Academy of Givers, the Lino Spiteri Foundation and others. As such, he has a front row seat to the pros and cons of long-term leadership.

Even with such a support network, good leadership depends both on the individual and timing, says Nathan. “A leader that has high self-awareness can adapt to change from start-up to scale-up and enjoy success. Choosing the right people at the right time, as the business evolves, is key.”

“The world has advanced significantly in many respects,” Nathan shares. “However, leadership – the ability to inspire and transform – still depends on human traits such as empathy, courage, focus and humility. The main difference today is the impact a business leader has on society and their ability to influence change both globally and locally, economically, politically and socially. This is a privilege we shouldn’t take lightly.”

And when it comes to timing, sometimes the time is right to change. “A leader must always put the customer and team’s needs first – and if they are doing a disservice to these elements of the business, then there needs to be a change. At the end of the day, this isn’t about ‘falling on one’s sword’, but having a mature understanding of ‘fit for purpose’.

A good leader should start their succession plan the first day on the job,” he concludes. “Perhaps the greatest leaders are the ones that accepted change and reinvented themselves in a different business or industry or shifted roles. Staying power is useful to a point, so long as you stay relevant with the times you live in.”

Having recently celebrated 67 years in business, Vistage is an example of the power of consistency and focus on purpose, he goes on. “That focus helps the

“A good leader should start their succession plan the first day on the job.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

KARL GRECH Performance Coach and Leadership Trainer

“The leaders I have worked with have inspired my values and drive to develop and achieve my own success,” says Karl Grech, sharing that he has witnessed leaders managing events and crises such as the 9/11 terrorist attacks, the 2008 recession, Malta’s entry into the EU and the Euro changeover, among others. “These have all been great lessons that have impacted my business leadership story.”

“Even great leaders should know when to go.

The natural question is not ‘if’, but ‘when’.”

Launched three years ago, Karl started a solo practice that offers coaching and bespoke leadership and emotional intelligence training, helping clients make the shift in their leadership and interpersonal skills, and enhancing how they connect, communicate and collaborate at work. “Whether a founder CEO is always the right person to lead the expansion of a company depends on several factors. We are operating in a VUCA world – volatility, uncertainty, complexity and ambiguity,” he explains. “Experience in a business area or industry does not guarantee success; we are in a situation of constant, unpredictable change. This is the new norm in the business world. If an individual has developed and practices the traits of integrity, bravery, perspective and social intelligence, then they are the right person to lead. If they are stuck in their ways, micromanage, bulldoze their way through and are not ready to adapt to external factors, then they are not the right person to lead.”

and Sir Richard Branson – Karl highlights that even these big business names knew to hand over the baton when the time was right. “The natural question is not ‘if’ but ‘when’,” he says. “During a change in leadership, it is essential to trust the person or people who will take charge, while you need to clarify expectations and your role (if any) moving forward in the organisation.

“Lastly, let go – as hard as it may be – to help take the company to the next level. There is no one-size-fitsall; the leader needs support to identify the best way forward for the organisation and themselves.”

While pointing to great leaders that have stayed the course – such as Bill Gates, Steve Jobs, Steven Covey

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

MIKELA FENECH PACE HR Consultant, Executive Coach and Team Coach at Upstream

“However, a founder CEO may find it difficult to let go or to keep up with the pace required for expansion or change. And if they do recognise the need to remain curious, keep a check on the impact of their leadership style on those around them, and have the courage to manage change, then they may well be the right person to lead the future of a company.”

“My views on leadership have changed quite substantially over the years,” begins Mikela Fenech Pace, whose professional background has included extensive diplomatic service with the Government and joining Malta’s leading response team to the 2011 Libya crisis. “Over time and through my various roles, I have redefined what leadership means to me, moving away from the prescriptive model to a more personalised and unique approach. What has changed is my definition of success.”

When it comes to whether a founder CEO is always the company’s right leader, Mikela believes that it depends on the individual. “I have never believed in ‘yes’ or ‘no’ answers when looking at individuals,” she affirms. “The word ‘founder’ comes with a plethora of attachment issues and emotions that cannot and should not be pushed aside. In an ideal scenario, any founder CEO – or CEO, for that matter – should be working to make themselves redundant in their job, as this is the only way they can foster a culture of development, growth and innovation across their company. A crucial factor will always remain the ability to identify the next generation of leaders that share the same passion and understanding of the business as the founder.

“A crucial factor will always remain the ability to identify the next generation of leaders that share the same passion and understanding of the business as the founder.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

WORKINGUP L E OUTO LEV T

Across the globe and in Malta, CEOs increasingly name one key task as a non-negotiable part of their daily routine: physical training and fitness.

Despite the busy and demanding schedule of a CEO, many still make fitness a priority, even at the cost of waking up at an arguably unorthodox hour. Here, four local CEOs share why staying fit matters – and explain how the working-out CEO may have the edge in today’s business landscape.

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Photo by George Scintilla

of having a heart attack before I was 40 – and then at risk of ending up in a wheelchair due to muscle deterioration – it was a huge eye-opener. Thankfully, a good friend of mine is also a running coach and he convinced me that there was another, more natural solution. I haven’t looked back since! It has literally been life-changing for me.”

Today, Winston’s daily run is sacrosanct. “It’s an integral part of my life and, as a result, of my business activity as well. I run every day, first thing in the morning before I start any work – it takes discipline and a desire to do it, but I know the benefits. My running regime has a mix of reasonable distance easy runs, a weekly long run and the occasional speed session as well. I always have a running race in mind and have participated in races between 5km and 51km. I enjoy the adrenalin rush and the friendly competition during races, although I do push myself to do as well as I can in my age group. It’s a pleasant community and people encourage each other.”

Aside from having the right mindset and making the decision to prioritise health, Winston highlights what worked for him at the start of his own fitness journey.

“Starting slowly and with patience is key – don’t bite off too much too soon. Guidance is also important, ideally from a good coach or mentor as a source of information and encouragement. Also consider training with a buddy; it’s helpful, enjoyable, and keeps you accountable and on time. Finally, instead of looking at training as an inconvenience or a sacrifice, I look at it as a way of life and something that makes me feel better all-round,” he concludes.

WINSTON ZAHRA Founder and CEO of TROO Hospitality, a hospitality management company based in Manchester, UK. Fitness isn’t just a way of life for Winston Zahra: it’s a leadership approach as well. “Apart from giving fitness a lot of importance myself, I also encourage my team to keep in shape,” he affirms. “I believe that the right level of fitness not only has physical benefits but also helps energy and mindset levels throughout the day.

“Running affects the way I feel about myself, my headspace, my energy levels and my general approach – it makes all the difference to the type of day I have. I also find that I get more done as a result. The overall benefits of doing something every day makes such a positive difference to your life – I keep that in mind, especially when I don’t feel like running.”

Prior to a health scare around 12 years ago, Winston shares that he wasn’t always so fitness focused. “I did the occasional bit of exercise, but never as regimentally as I do now,” he says. “I used to work crazy hours and not eat the right things, resulting in weight gain and extremely high cholesterol levels. When a doctor advised that without medication I was at a high risk

Running affects the way I feel about myself, my headspace, my energy levels and my general approach – it makes all the difference to the type of day I have.

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Regular early morning outdoor sport turned things around. I think of it as a daily ‘total reset’ button to start the day at zero.

MICHAEL PACE Founding Partner at local architecture and design firm Forward and local architecture firm Nidum.

For Michael Pace, fitness and leadership don’t necessarily go hand-in-hand. “You don’t need to be fit to be a good leader,” he says. “But, regular exercise clears the mind and helps us to feel well. The better we feel, the better we work, whatever the job may be.”

Michael understands this more than most, having only recently discovered the knock-on benefits of introducing exercise. “Until a few years ago I didn’t do much sport and I found it difficult to build it into my routine. Work stress used to pull me down into a hole,” he recalls. “I was highly strung and even sleep couldn’t always clear my mind. Regular early morning outdoor sport turned things around. I think of it as a daily ‘total reset’ button to start the day at zero. My coping mechanism has improved and I now find it easier to switch off at the close of the day. And, although I have always kept sport separate from my business, I’d like to think that this reflects in my work too. I feel fulfilled and hope that I’m a better person to have around in the office and at home.”

Motivated by parenthood, his first steps towards fitness were challenging, he shares. “I had my first child at 39. It was then I decided that, if I wanted to stick around and be an able dad, I wasn’t going to leave it to chance and needed to do something about it. I began with morning pool swims and later added running. It was tough to get used to initially, but the turning point came when I started getting out early in the morning before my workday began. This was a game-changer as I could finally build a routine that didn’t interfere with my work and which, in turn, could not by compromised by it. When my workday starts, I’m already done with my exercise for the day.”

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Having established this early morning training habit, Michael now alternates between running and swimming – and sometimes swimruns, a combination of trail running and sea swimming – both alone and with others. “I met a bunch of people on a similar trajectory and who inspired me, and they helped make this daily sacrifice a highlight.

Nowadays, I’ll train alone when I’m short on time, but would always rather have company. I know that if I want to train, there are always like-minded friends I can count on to join. It is important for me to get out and have fun,” he says. “My advice for anyone interested in starting fitness is to start slow, aim low and get outside. Find when works best and build it into your routine, rain or shine. And think about how you’ll feel afterwards. Once done, you’ll never wish you’d stayed home in bed.”

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

JOHN WINFIELD Founder and CEO of Dr Juice.

Fitness is for everyone, according to John Winfield – but for leaders, it is critical. “Fitness is an essential in everyone’s daily life!” he says. “But with the additional stress levels associated with leadership, fitness is especially important for the leaders in our communities.

Heavy is the head that holds the crown, right? For leaders, problems can and do arise at any time of day.

Facing those challenges head-on for decades is not only a skill, but it also requires lifeforce – and that lifeforce must be charged. A daily workout has a huge impact on my performance at work, increasing my productivity, focus and energy levels, and reducing my stress levels or anxiety.”

As such a vital aspect of his lifestyle, John’s fitness regime is diverse and dynamic to suit the demands of his role. “It involves a mixture of training including HIIT, strength training, functional training, boxing, cycling and, most recently, running and padel,” he says. “My training has always been a constant in my life throughout my development of Dr Juice – from my mid-20s until I reached 40, with its intensity and its purpose evolving with the needs of my work. However, I was inspired to take things to the next level through a cycling challenge by the ALIVE Charity Foundation, which raises funds for cancer research. With the support of a friend and

For leaders, problems can and do arise at any time of day. Facing those challenges head-on for decades is not only a skill, but it also requires lifeforce – and that lifeforce must be charged.

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fellow CEO, BRND WGN’s Peter-Jan Grech, Dr Juice became the main sponsor and I personally committed to cycling 1,000km – having never ridden a bike before! The process changed my relationship with fitness forever.”

Balancing training and work is possible, he says, with one simple life hack. “Anyone with the right amount of motivation and discipline can apply this solution: wake up earlier. My morning ritual is key to balancing my fitness and my life. There are books and guides out there to help, such as The 5am Club by Robin Sharma – read it and then apply it to your life.”

Apart from his daily training regime, John also recommends switching it up to stay motivated and to create a bespoke fitness lifestyle. “Challenges such as marathons, endurance cycling or obstacle course challenges like the GRID can be great for mini-training camps spread throughout the year. The sense of achievement and personal growth from taking on a challenge can be lifechanging. But, to start, you must understand that your relationship with fitness is personal to you; a journey that can have abundant benefits for your life and your career. Invest in trainers to help motivate and guide you in the beginning, and set yourself a challenge to take on with someone close to you,” advises the CEO.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

I discovered the positive influence I had on my colleagues, network and the company as I gave importance to sports to balance out my mental and physical health.

PETER-JAN GRECH CEO of BRND WGN, a strategic brand consultancy firm that supports entrepreneurs in creating meaningful brands.

“Those who know me from my younger days, know that I was never a big fitness fan,” begins Peter-Jan Grech. “I didn’t own a pair of trainers until many years after starting BRND WGN, plus I was a heavy smoker and enjoyed long, rich dinners. And while I’m still no stranger to a chocolate biscuit, today I try to lead a more sustainable lifestyle because of the way it makes me feel. Consistently showing up for training, leading a healthier lifestyle, pushing my previous limits and burning off the adrenalin and stress accumulated throughout the day helps me be more focused and more resilient as a leader.”

of sports I do ticks that box. I had a small health scare that reminded me that, if I still can do this, then I should. After a few small local events and the National Gozo-to-Malta swim, I joined the UltraMed Challenge to swim 15.5km across the Bonifacio Straits between Corsica and Sardinia, raising money for the Inspire Foundation. That is when I realised the real power of sports for positive change.”

The self-confessed nature enthusiast and active campaigner for sustainable living on a thriving planet now combines both passions into his fitness regime. “I am up every day at 5.15am for cardio – such as swimming, cycling or running – ideally outside in nature. I had originally started by swimming a few laps in the pool, before discovering the world of open water swimming – after which, I was hooked. Today, it’s just who I am. I have always wanted to live a life full of adventure and the type

Citing his training sessions as key to overcoming the challenges of the pandemic, Peter’s daily fitness routine brings mental as well as physical health benefits, he explains. “I discovered the positive influence I had on my colleagues, network and the company as I gave importance to sports to balance out my mental and physical health. By the time I get to work after a good training session, my motivation and positivity are at their best; I feel stronger and more confident. My mind is clear and agile, while my heart rate and breathing are calm and collected. The only negative is that I am always hungry!

“And it’s not about winning, it’s about showing up and having that discipline and commitment with myself to make sure everything has its place in my schedule, as well as eating well and getting plenty of rest.”

As to how to start your fitness journey, Peter concludes by recommending a slow and steady approach. “Start small, choose something that you enjoy doing, have fun and build up gently. Go easy on yourself. Find a group of like-minded individuals to join. Make it a way of life, turn it into a habit and not just a way to lose weight, otherwise your motivation won’t survive. And whatever you do – do not press that snooze button!”

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READ RIGHT NOW

THESE MUST-READ BUSINESS BOOKS COULD HELP YOU TURN YOUR TRADITIONAL BUSINESS MODEL ON ITS HEAD IN 2023.

Is it a coincidence that some of the world’s most successful business leaders are also avid readers? We think not. Warren Buffet attributes his success to the 80 per cent of his day that he spends reading. Bill Gates is renowned for devouring 50 books a year, and Marc Cuban spends no less than three hours a day accumulating knowledge from the best in the business.

Filled with hard-won wisdom, fresh perspectives and inspirational stories, the business book genre has become one of the highest grossing in the US, second only to religion. There are some truly elevating books on the market, and we were fortunate enough to chat to the authors behind three of 2023’s must-read business books.

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Maria Giudice and Christopher Ireland

Changemakers: How Leaders Can Design Change in an Insanely Complex World Maria Giudice and Christopher Ireland both share a deeply held belief that, if used as a guiding principle, design could be the catalyst for change in the workplace and beyond. With their second book, Changemakers: How Leaders Can Design Change in an Insanely Complex World, they expand on the ideas that shaped their first – the ground-breaking, Rise of the DEO. The result is a book that, in their words, “offers a pragmatic, people-centred approach to change, weaving in valuable and, often, vulnerable insights from some of the top leaders in design, business, government and social justice.”

In Rise of the DEO, Maria and Christopher predicted that executives would need to embrace the qualities and mindsets of designers to lead successful organisations

in the future. Today, they are excited to see more and more leaders embrace design at the highest levels of their organisations.

“To us this means adopting the mindset of a designer to make change. Not as a task or stage in the development, but as a strategy. We believe this approach is critically important given the complex problems we are facing today.”

One example of a modern changemaker embracing design is Chef José Andrés. In response to poor disaster relief amid an abundance of underutilised food resources, Andrés founded the World Central Kitchen and led an ad hoc community of chefs and food providers to rapidly focus resources exactly where needed, without hierarchies, strategic plans or ROI concerns.

“We admire any leader who demonstrates this ability to leverage connected communities and help people collectively channel their passion and ability,” enthuse Maria and Christopher.

We admire any leader who demonstrates this ability to leverage connected communities and help people collectively channel their passion and ability.

And according to the duo, we’re all capable of becoming changemakers. But “passionate purpose, courageous optimism, high integrity and a collaborative spirit are qualities that will propel a successful changemaker into the spotlight,” says Maria.

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Be too much! At some point in your life, you might have been told you’re ‘too much’.

You might have even been asked to ‘tone it down’. Please don’t listen to that advice.

Photo by Sharon Morgenstern

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jeff Rinkus

Billionize – When Being Too Much is Just Perfect For as long as Jeff Rinkus can remember, he’s been able to see possibilities for vision and growth that often aren’t apparent. “The Billionize model started to come into focus while I was working at Merck, Lenox China and Stryker, and I started to put it into practice at ABB Optical Group during our rapid growth from 2004 to 2016,” Jeff explains. “After I left ABB in 2016, I finished refining this model so that it could be shared and used to replicate our success.”

The message within the pages of Billionize – When Being Too Much is Just Perfect, Jeff tells us, is that “interacting with any idea supported by the Billionize Growth Cycle will create unique competitive advantages that will attract your next level of business growth.

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“Look, do what you love,” Jeff says “and you will find your strengths on which to build the next growth phase of your company.”

In Jeff’s opinion, businesses that struggle with growth are making two major mistakes: “one – hiring ‘experts’ who tell you they know better and then accepting their recommendations without putting it through the filter of what you know about your own business. And two – reacting to another company’s business plan or game instead of building on competitive advantages that are inherent in your own company.”

His best advice to a fledgling business leader? “Be too much! At some point in your life, you might have been told you’re ‘too much’. You might have even been asked to ‘tone it down’. Please don’t listen to that advice. Instead, know that successful companies built by world changing leaders start with completely unreasonable expectations that some people will not understand. Do it anyway.”

To be a successful business leader, Jeff reveals, the most important strength you need to cultivate is self-awareness. “When I can offer an honest assessment of me, I create trust with my team,” he adds.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Mark A Mears

The Purposeful Growth Revolution: 4 Ways to Grow from Leader to Legacy Builder The Purposeful Growth Revolution is unique – not only in its powerful thesis but the way it is carefully curated to create an immersive reading experience. More than just another business book, it is designed to inspire a movement.

In it, Mark A Mears unveils his radical 4 LEAF GROWTH model – a model that places the emphasis on connection and purpose.

what,” he explains. “We are whole people with multiple dimensions (not just an employee ID number) and to be truly fulfilled in both life and work, we must align our values with those of our team or organisation and the related stakeholders we serve.”

Mark also explains how CEOs can encourage more meaningful engagement from their teams.

“When you capture their hearts, the rest will follow,” he says.

“This leads to a deep sense of empowerment, resulting in greater longevity, productivity and fulfilment. Like any good relationship, capturing the heart is founded upon trust, transparency and, of course, love.”

The inspiration for it came to Mark the morning after he was unceremoniously let go from his executive leadership role.

“I imagined a leaf as a symbol of growth and rebirth, but also an acronym which stands for Leadership, Engagement, Accountability and Fulfilment,” he says. “They’re four integrated processes all revolving around purposeful growth.”

The message deeply ingrained within his book is that life is short, and tomorrow is not promised to any of us. “As adults, we will end up working over a third of our lives; whereas the rest comprises sleeping or ‘living’. So why not align your life’s purpose with your vocation to be more fulfilled while we’re awake?” urges Mark. “And why not leave a ‘living’ legacy by paying it backward to help mentor others along their growth journey?”

“I began to map out four related sub-processes that I have found vital in helping individuals, teams and organisations find purpose in fulfilling their true growth potential. And, by doing so, ‘pay it backward’ to make a positive, lasting difference in the lives of others and indeed the world.”

To reach your full potential, Mark believes that instead of starting with ‘why’, it’s more important to start with ‘who’. “Knowing who we serve (spiritual, relational, personal, professional) will lead us to our why, how and

Like any good relationship, capturing the heart is founded upon trust, transparency and, of course, love.

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Hungry for more? Here’s our pick of six other top business books that deserve a place on your 2023 reading list. Whether you’re looking to delve deep into the world of tech, turbo-charge your productivity, or get Pixar-level creative with your leadership, these are the books that every savvy CEO should have on their shelves.

The Power Law: Venture Capital and the Art of Disruption by Sebastian Mallaby Mallaby’s latest book takes a deep dive into the world of the venture capitalist (VC). It examines the influence VCs have had on shaping the tech world as we know it. In it, Mallaby exposes the truth about the tech industry’s greatest successes and most abject failures, and aims to make sense of seemingly random investments. He prods you to consider whether you could ignore the spreadsheets and rely on gut instinct alone.

Read this to: Increase your bottom line.

Disorder: Hard Times in the 21st Century

by Helen Thompson Thompson, Cambridge University’s Professor of Political Economy, seeks to explain the present geopolitical and economic landscape by examining the histories of geopolitics, the world economy and western democracies. The current climate of uncertainty in Europe, volatility in the Middle East and political rivalry in the US makes Disorder: Hard Times in the 21st Century a compelling read for any CEO as we head into a new era of green technology and cleaner energy.

Read this to: Future-proof your business.

Getting Things Done: The Art of Stress-Free Productivity by David Allen Since it was first published almost 20 years ago, Allen’s guide to stress-free productivity has been on the reading list of every astute CEO. The newly tweaked and updated version offers fresh insight on his revolutionary productivity systems that will help you to increase productivity both personally and professionally without raising your blood pressure.

Read this to: Boost your productivity – stress-free.

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Lean In: Women, Work, and the Will to Lead

by Sheryl Sandberg Sandberg is no stranger to controversy, but as a business leader there is no denying her meteoric rise to success. This book aims to give women the tools to take their careers to the next level. It is loaded with practical advice on mentorship, career building and how to improve your negotiation skills. Sandberg also examines the ways in which men can benefit from encouraging more women to step into leadership roles.

Read this to: Embrace female leadership.

Creativity, Inc: Overcoming the Unseen Forces That Stand in the Way of True Inspiration by Ed Catmull Catmull, co-Founder and President of Pixar Animation, built a legacy that will live on in the hearts and minds of a generation raised on Toy Story, Finding Nemo and WALL-E. He attributes Pixar’s phenomenal success to its unique leadership, and the management principles ingrained in the company’s culture. This book lifts the lid on those principles and can be used as a guide to drive any business towards success.

Read this to: Up your leadership game.

Influence Empire: The Story of Tencent and China’s Tech Ambition by Lulu Chen Tencent rose from a seemingly simple instant messaging operator to become a $360 billion company. In this book, author and Bloomberg tech reporter Chen chronicles Tencent’s fascinating journey from humble startup to unrivalled tech giant – one that ushered in China’s ‘golden era’ of technology. This book opens a rare window onto the landscape of China’s successful entrepreneurs.

Read this to: Gain a deeper understanding of China’s business moguls.

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THE NEW SKILLSET SHAPING SUCCESSFUL CEOs IN 2023 T H E C E O R O L E H A S C H A N G E D I M M E A S U R A B LY I N R E C E N T YEARS AND THE TRADITIONAL SET OF SKILLS NO LONGER CUTS I T. I N 2 0 2 3 , A S AV VY B U S I N E S S L E A D E R K N OWS T H AT T H EY DON’ T KNOW IT ALL .

S O, I F YO U WA N T TO G E T A H A N D L E O N T H E M U ST- H AVE S K I L LS O F T H E M O M E N T – N E G OT I AT I O N , T E C H , R I S K EVA LUAT I O N , C O U R A G E A N D O P T I M I S M – I T M AY B E T I M E T O C O N S I D E R E N G A G I N G A N E X P E R T . H E R E , M A LT A C E O s S P E A K S T O E X P E R T I N T E R N AT I O N A L COAC H E S I N T H E F I E L D O F E AC H D I S C I PL I N E T O F I N D O U T H O W T H E S E N E W S K I L L S C O U L D T A N G I B LY BENEFIT THE FUTURE OF YOUR BUSINESS .

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COURAGE MARGARETA KULL

Margareta Kull is an international trainer, public speaker, executive coach, mentor and writer. As the CEO and Founder of Kull Leadership AB, Margareta encourages business leaders to look at how urgently courage is needed on a global, organisational and individual level.

“Courageous leaders boost the bottom line, improve morale, have more satisfied customers, heighten productivity, increase performance and – most of all – create a change in organisational culture.”

Margareta Kull firmly believes courageous leadership is a critical skill for today’s CEO. “As a courageous leader you can focus on making decisions that are best for your business as well as for the planet, even when it’s uncomfortable,” she says.

“The only way to do that is to be constantly curious about others and yourself. If you aren’t, you risk letting your subconscious and your fears make decisions for you. And that could lead to an even bigger risk: making comfortable subconscious decisions instead of wise decisions.”

Unfortunately, many leaders don’t do what’s really best for their business. In Margareta’s view, one of the biggest obstacles that organisations face is managers subconsciously thinking things are ‘fine’ as they are. “Frequently, when I read between the lines, or listen to what is not being said, I hear that ‘good enough’ is OK,” she explains. “Which is costing much more than many would imagine!”

In the face of challenging situations in the workplace, it’s all too easy to take the path of least resistance. Margareta has made it her life’s work to challenge managers, executives and leaders to grow their courage and make wise decisions that not only benefit a company’s long-term strategy, but that also make sense in the current geopolitical climate.

“Courageous leaders boost the bottom line, improve morale, have more satisfied customers, heighten productivity, increase performance and – most of all – create a change in organisational culture,” Margareta asserts.

The good news is that with the right tools and coaching, courageous leadership is something that can be developed. “Start by being a courageous listener,” the coach advises. “Dare to listen quietly, without interrupting or steering the conversation.

What is it the other person wants you to hear? Be curious in your listening, about the other as well as about yourself, so that you can keep an eye on your own behaviour. This is Step One to Openness and Trust – and it all grows from there.”

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TECH um

Greg Jasmin works with C-Suite executives in the mission critical and consulting industries. He has an in-depth and proven knowledge of working in the EMEA region, and is sought after by boards and executives looking to strategise and deliver on IT infrastructure modernisation and digitisation mandates for their businesses.

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GREG JASMIN

Greg Jasmin is the person to ask about the role tech awareness plays in today’s business climate.

“Well, a lack of technological awareness or the proper planning of how to utilise these everchanging technologies can become – in the best-case scenario – the Achilles heel for a CEO,” he declares. “And in the worst case, it can even become an existential threat to the business itself.”

Developing and sustaining tech knowledge in 2023 and beyond can weigh heavily on a CEO’s shoulder, which is why coaching in this space could be the ideal solution. “You have to seek out sources of information to keep updated on trends and maturing technologies that apply to your business or industry,” Greg recommends. “But not everyone is an avid reader or even listener of tech podcasts or intel, so this is where a coach can develop a curated programme of information for you. And beyond that, a coach and advisor can be the link between a CEO and the ever-changing industry they are in.”

“A lack of technological awareness or the proper planning of how to utilise these ever-changing technologies can become – in the best-case scenario – the Achilles heel for a CEO.”

In Greg’s experience, CEOs are often reluctant to pursue a tech strategy because their past knowledge of their industry clouds their judgement. Technology fatigue can also put business leaders off new tech tools, as it feels too complicated to learn them.

But these excuses won’t cut it, the coach stresses.

“A CEO must recognise and develop a strategy to embrace new tech or risk going the way of the video rental store!

“As a CEO, you are driving the strategy for your business. So the more you can rely on your ability to think from first principles and be tech aware, the more your business will continue to benefit and thrive from such a perspective.”

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NEGOTIATION MARIE O’HARA

Marie O’Hara is a senior leadership coach, trainer and consultant. Her expert knowledge of negotiation processes helps business leaders discover greater possibilities for more fulfilling resolutions.

In a climate infused with uncertainty and complexity, it is inevitable that more differences will rise to the surface.

Mastering the art of negotiation is a critical skill for any CEO navigating their way through 2023. Marie O’Hara regards negotiation as inherent to the human condition.

To be successful at negotiation, however, requires a certain mindset.

Marie explains it’s natural that there are going to be people you don’t like, but says the truth is you can bond with anyone. “I have worked with a veteran hostage negotiator, George Kohlrieser, who explains how - in these high stakes situations - you can build a bond with anyone, even when they are doing something despicable. The key is to find a goal we share. This requires creativity and flexibility,” she says.

“It’s crucial to focus not only on you and your goals but also the goals of the other party,” begins Marie. “If your focus is on only walking away with what you want, it’s not a negotiation process. You might get what you want, but you will have brokered a disagreement.”

Instead, Marie suggests business leaders begin negotiations with a mindset where you’re building positive outcomes for both parties. It’s all about compromise. She goes on to explain that how you show up has a strong impact on others, particularly in a leadership role. “Your words, mindset, emotions, even your physical presence can trigger all sorts of unconscious reactions in the other party,” she explains. “And it can either help to build success in negotiation, or, at its extreme, can block it.

“We tend to believe that negotiation is a cognitive discipline; that it’s practical. But in truth, it’s an emotional interaction.”

People are most motivated by avoiding loss. So seeking to understand the other party’s fear of what they will lose is a key part of any negotiation.

The core skills of great leadership are all part of the negotiation process: building relationships through listening, asking questions, and seeking to understand as opposed to be understood.

“It is critical to ask yourself how you want the other person or the other party to experience you to establish trust.

Question how you can create an environment where the other person feels seen and heard; if you don’t start with respecting the other party, you block the dialogue that can take you forward.”

The question to ask yourself in 2023, Marie suggests, is how you can use your creativity, flexibility and strength as a leader to find collaborative solutions.

“You can build a bond with anyone, even when they are doing something despicable. The key is to find a goal we share. This requires creativity and flexibility.”

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RISK

CHIZUBEL EGWUDO

Chizubel Egwudo is the CEO of The Risk of You, a UK-based risk consultancy that creates growth for businesses through dynamic risk management. He is also the author of For the Love of Purpose – Take These 7 Powerful Steps to Achieve Your Purpose and the host of The School of Risk Podcast.

“We are all born risk takers,” declares Chizubel “It’s wired into our DNAs from the moment we are conceived in the womb and continues to evolve throughout our lives. We just need to learn and understand the various dynamics of risk that affect us.”

According to Chizubel Egwudo, “risk awareness and risk planning is critical for CEOs in 2023 because the dynamics of risk in our world today are complex and not well understood.”

From a business perspective, this means CEOs need to understand that the recipe for success includes understanding and taking risk across the full spectrum, thus focusing on benefits realisation and not just on threat prevention.

Chizubel maintains that good risk awareness skills are crucial for running a successful business. Once you’ve developed these skills, you’ll benefit from the knock-on effects – in Chizubel’s eyes, the most important of which is resilience in times of crisis and the ability to maintain focus on the purpose ahead, while backed by the right goals.

Of course, not every CEO is likely to feel comfortable with taking risks, nor do they feel able to clearly assess risk in today’s uncertain climate. But is effective risk awareness and risk planning something that can be learnt – or is it a skill you’re born with?

So what is the best way to develop and sustain risk knowledge in 2023 and beyond? “Go beyond the textbook and invest in risk coaching that supports your purpose,” urges Chizubel.

“We are all born risk takers. It’s wired into our DNAs from the moment we are conceived in the womb and continues to evolve throughout our lives. We just need to learn and understand the various dynamics of risk that affect us.”

“I worked with the CEO of a property firm on one of my coaching programmes and successfully helped them to identify opportunities worth about €500 million. This demonstrates that great coaching delivers better results than training.”

Chizubel’s advice to a CEO considering risk coaching is to “identify a coach who understands the dynamics of risk and can help you think and see things from outside the box. Risk coaching can help you identify unseen opportunities and support you with the right action to realise measurable benefits,” he adds.

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OPTIMISM HOLLY READ

As a Business Made Simple certified coach, coach advisory board member, and elite-level marathoner, Holly Read is a sought-after business coach for mental fitness strategies, accountability and practical coaching plans.

She helps business leaders gain a competitive edge that can only be achieved through diligent perseverance.

For Holly Read, optimism isn’t just a critical skill for CEOs, it’s absolutely vital to their success. “If all you see are the problems in your company, then that’s what you ruminate on,” she explains. “You won’t be able to find the solutions. I firmly believe every problem presents an opportunity for creative thinking, growth and new ideas.”

“People will follow leaders who are willing to get into the tough places with them and show them a new outlook.”

If you find yourself naturally leaning towards pessimism, Holly is quick to point out that anyone can learn to develop an optimistic worldview.

“Optimism is a choice,” she declares. “For some it takes more work than others, but anyone can learn to always find the silver lining. You can choose it daily and, for CEOs, minute-by-minute as new issues are brought to the table.”

With this mindset, she continues to explain, CEOs will hire optimistic people and attract optimistic clients.

Holly also considers optimism to be infectious. She has seen it change the culture within a business, edging it back from the brink of disaster and transforming it into a thriving enterprise. “People will follow leaders who are willing to get into the tough places with them and show them a new outlook,” the experienced coach asserts. “The culture inside you is the culture you create around you. Essentially, if you are an optimistic person and choose to operate that way in your business, you will create a culture of optimism in your company.”

Holly’s tip for maintaining optimism in 2023 is to “listen to what you say and how you say it.

Ask those around you how they experience you.

Embrace the reality of the situation you are in.

Don’t deny it. But then remain open-minded to staying solution-focused. It is then you will find creative ways to bring about a positive solution.”

Finally, Holly adds: “trust in your ability as a CEO. You can turn any tide in your business by setting an example of optimism.”

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TheInterviewsIndex 78 Adriana Camilleri Vassallo CEO, Francis J Vassallo & Associates Group (FJVA)

82 Jonathan Shaw CEO, Retail Marketing Ltd

86 Lahcene Merzoug CEO, PressEnter Group

90 Matthew Wismayer Executive Director, Pet Nutrition House

94 Antoine Galea Salomone CEO, SG Solutions

98 Kurt Farrugia CEO, Malta Enterprise

102 Peter-Jan Grech CEO, BRND WGN

106 Kenneth Farrugia CEO, Bank of Valletta

110 Simon Naudi CEO, IHI plc (Corinthia)

114

126

180

234

Arthur Gerada

Etienne Sciberras

Anton Buttigieg

CEO, Healthcare Logistics Ltd

CEO, MAPFRE MSV Life

CEO, TradeMalta

130

184

Ammar Soltan Founder and CEO, eeetwell

134 Alona Andruk

Cristina Casingena CEO and Director, LifeStar Insurance plc

242

138 Mark Mallia

194

CEO, Identity Malta Agency

Mark Attard

142

CEO, BDO Malta

Christian Sammut

198

CEO, BMIT Technologies

Christabelle Camilleri

146

CEO, V&C Group

Kenneth Brincat CEO, Malta Digital Innovation Authority (MDIA)

150 Jacob Appel

202 Geraldine Spiteri Lucas CEO and Registrar, Malta Business Registry

208

CEO, Binderr

Rebecca Bonnici

154

Owner and CEO, BELS English Language Schools

Javier Moreno Gonzalez CEO, MAPFRE Middlesea

158 Alan Grima CEO, Dhalia Real Estate

162 Carlo Micallef

166

122

190 CEO, MeDirect

Founder and Managing Director, Design Hub Store and Elevist Wellness Centre

CEO, Melita

Country Manager Malta, DHL Express

Arnaud Denis

CEO, Malta Tourism Authority

Harald Roesch

Director, Financial Intelligence Analysis Unit

Founder and CEO, Take Off Ltd

Sean Cassar

118

Kenneth Farrugia

Joanna Delia CEO, People & Skin

170 Paul Mifsud CEO, Sparkasse Bank

174 Michael Mifsud CEO, Multigas Group

238 Dimitris Papas

212

Martin Agius CEO, The Convenience Shop (Holding) plc

246 Charles Mizzi CEO, Residency Malta Agency

252 Cenk Kahraman CEO, Finance Incorporated Ltd

258 Yasmin de Giorgio CEO, Shireburn Software

262 Yakof Agius CEO, Yakof Agius & Associates

268 Renaldo Arciola

Matthew de Giorgio

CEO, Fonicom

Managing Director, Gianpula Village

272

218 Michael Warrington CEO, AX Group

222

Jonathan De Giovanni CEO and Managing Director, Promethean

278 Edward Borg Grech

Karl Diacono

CEO, Bluefort

CEO, Fenlex

282

226

Roderick Abela

Jeremy Cassar

CEO, Nectar Ltd

Managing Director and CEO, ERA Real Estate Malta

288

230 Pierre-Etienne Cizeron CEO, Epic

Sandro Zammit CEO, Zamco Group

294 Simon Jesmond Turner Founder and CEO, Clentec Ltd

MaltaCEOs 2023

50 Meet of

THE

island’s MOST

INFLUENTIAL BUSINESS minds

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Adriana Camilleri Vassallo

CEO, FRANCIS J VA S S A L LO & A S S O C I AT E S G R O U P ( FJ VA )

“ P O S I T I V E I N F L U E N C E , P O S I T I V E I M PA C T . A LW AY S . ”

F O U N D E D 2 5 Y E A R S A G O , F R A N C I S J V A S S A L L O & A S S O C I A T E S H A S E V O LV E D I N T O A N I N T E R N A T I O N A L G R O U P O F C O M PA N I E S T H A T H O L D S T R U E T O I T S C O R E V A L U E S A S A C L O S E - K N I T F A M I LY B U S I N E S S . F O L L O W I N G T H E S U CC E S S F U L T R A N S I T I O N O F L E A D E R S H I P F R O M H E R FAT H E R , A D R I A N A CA M I L L E R I VA S S A L LO N OW D R IVE S T H E G R O U P FO R WA R D A S C E O TO C R E AT E A P O S I T I V E I N F L U E N C E A N D L E A V E A N E N D U R I N G I M PA C T .

For Adriana Camilleri Vassallo, all arrows in life have always pointed towards the trajectory she follows today. Indeed, a childhood spent living in various countries across the world has equipped her for a truly international career – and yet, that is not all that lay ahead. As the daughter of Francis J Vassallo, co-Founder and Chairman of Francis J Vassallo & Associates Ltd (FJVA) and former Governor of the Central Bank of Malta, Adriana’s past also prepared her to follow in her father’s footsteps.

my father’s banking career with Chase Manhattan Bank,” she recalls. “I quickly learnt how to adapt to different cultures. After university, I relocated to Malta and started working for a ‘Big Four’ company. When my father’s tenure as Governor of the Central Bank of Malta came to an end, he asked me whether I wanted to join him in setting up a company. We launched our family business in 1998 and the rest, as they say, is history!”

This year, as FJVA celebrates its 25th anniversay, the global landscape, the company and even Adriana’s role within it have all evolved since the first day of operation. However,

“I had the great opportunity to live in various countries, including the US, the UK, Spain and Switzerland, due to 78

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “I enjoy motivating and listening to staff, building relationships within the team and empowering our employees to develop their careers and come up with their own solutions.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

FJVA’s mission statement remains unchanged. Set up as a Company Service Provider (CSP) and following a ‘private banking approach’, FJVA still runs as a close-knit family business, despite expanding its range of services to become an independent, international group of companies employing over 80 professionals. In fact, every partner and team member is family by nature – and by way of FJVA’s company culture, so are its clients.

purpose, and prioritising it over profit. In fact, her personal mission statement is now what drives the company’s purpose: “Positive influence, positive impact. Always.”

This objective is not only integral to Adriana’s ethos, but it also directs her leadership approach. “As CEO, my role is a balance of working on the company and in the company.

I spend a lot of my time driving our culture and ensuring our team understands our ‘why’,” she explains. To this end, the company holds an annual CEO Unplugged event in which annual achievements are recognised and future plans are communicated.

“All our partners and staff share our values,” says Adriana.

“In fact, our mission statement is built on four pillars: efficiency, ethics, relationship management, and mutual growth and success. I am proud that, in our 25 years of operation, we have never had to revisit our mission statement.”

In fact, Adriana believes in empowering the team to lean into company culture and become solutions-oriented.

“I enjoy motivating and listening to staff, building relationships within the team and empowering our employees to develop their careers and come up with their own solutions.”

Although appointed as CEO only in 2019 – mere months before COVID-19 hit – Adriana had been Acting CEO for some time as part of the leadership transition from father to daughter. With her father still available as an unofficial consultant, Adriana now paves her own path as CEO, pioneering her leadership style while sticking to the core values that are the beating heart of FJVA.

The company employs experts across various disciplines, offering a high-quality, bespoke range of solutions-based

“One of the challenges during the transition was maintaining that family environment, which is fundamental to FJVA’s growth,” she shares. “For me it is not just about the title. At FJVA we advocate about leading by example and setting the tone from the top.

We live by our mission statement which is not just words on a plaque.” She continues that the most important aspect of her role is defining the company’s underlying

Tax should only be an ancillary consideration when clients invest in Malta. We must instead attract the right business by rebuilding strong foundations of trust and ethics across financial services. I already see a move in that direction, with a greater focus on sustainability.

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

services to multinationals, family offices and private clients worldwide – all while applying that hands-on, familybusiness approach that has become FJVA’s signature.

“Trust is key in the financial services industry; people need to know that they can count on you ‒ be they clients or staff. This is even more relevant in times of uncertainty,” asserts Adriana. “People want to reach out to companies that they can count on, which is why we aim to build a close relationship with every client so that they feel comfortable and confident in our ability to guide them.”

Adriana adds that while Malta has now successfully exited the Financial Action Task Force’s (FATF) grey list, its effects will impact the sector for years to come. “Financial services are entirely based on trust and reputation. While it’s great news that Malta is no longer on the grey list, this doesn’t mean that our reputation as a jurisdiction has been restored.

Reputation takes decades to form and a second to lose, and the recovery of Malta’s reputation likewise cannot happen overnight. It will be a long process.”

Quick-fire Questions… with Adriana Camilleri Vassallo What is your favourite part of the working day?

Evenings with family.

Who do you most admire in the global business sphere?

There are so many, but Jamie Dimon and Tony Robbins come to mind. So different yet so successful.

When it comes to running your business, what is your best habit?

Being transparent.

And your worst?

Being too transparent!

While FJVA has lost some clients due to Malta’s troubles as a jurisdiction, Adriana explains that the company helped others weather the storm on the strength of FJVA’s strong ethical reputation. “The industry has become ever more compliance-driven since the greylisting, so we must help our clients navigate the resulting complexities,” she says.

“Although robust compliance is a necessity to protect Malta’s future reputation, I don’t support the current lack of practicality. This also creates added costs, which makes the island less competitive against other jurisdictions.”

What’s a hobby that’s been with you since childhood?

Reading and watching documentaries.

Would you time travel to the past or the future?

When and why?

To the past, before the uglification of Malta.

What attributes do you value most in your team?

Their unique attitude.

Nevertheless, Malta’s greylisting and the pandemic have brought both challenges and opportunities for growth at FJVA. “We have become more agile, realising that efficiency is key, especially in this new hybrid working environment. In keeping with our core values, we made sure that everyone at FJVA kept their position with no salary reductions throughout the pandemic.”

Is there a talent you’d like to have but don’t?

The gift of the gab!

What has been the greatest milestone in your career so far?

Co-founding FJVA.

Adriana also feels that the future of the financial services sector includes a global move against the use of tax structures and that Malta’s business landscape should likewise shift its focus. “Business has evolved, and Malta has so much more to offer than attractive tax incentives,” she says. “Tax should only be an ancillary advantage and not the main reason to choose Malta as a jurisdiction of choice. We must instead attract the right business by rebuilding strong foundations of trust and ethics across financial services. I already see a move in that direction, with a greater focus on sustainability.”

The CEO concludes that 2023 will also consolidate FJVA’s recent achievements, including the successful transition of leadership. “We want to continue to grow internationally as a premium CSP of high repute, while also assisting local and international family businesses with their restructuring and succession considerations. As a family business ourselves, we have both the local knowledge and international experience to offer value to clients in Malta and beyond.”

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WhatsApp – a useful tool or the bane of your existence?

Useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Whichever! With kids, you learn to adapt.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Don’t take things for granted and always ask questions.

What is one skill you would like to develop in 2023?

Cooking!

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Peace and then climate change.

If you could only focus on one project in 2023, what would it be?

Enhancing work-life balance.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “As CEO, success comes from surrounding yourself with those who know more than you.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jonathan Shaw

C EO, R E TA I L M A R K E T I N G LT D

“ S U CC E S S I S N OT A B O UT G O I N G FA ST; IT ’S ABOUT NOT SLOWING DOWN.”

B EG I N N I N G A S A CO L L A B O R AT IVE PR OJ ECT B E T WE E N LO CA L C O M P E T I T O R S T O I M P O R T C A R R E F O U R P R O D U C T S I N T O M A LT A , R E T A I L M A R K E T I N G LT D H A S S I N C E G R O W N V I A T H E S U C C E S S E S O F E A C H O F I T S PA R T N E R S . A P P O I N T E D C E O I N J U N E 2 0 2 2 , F O L L O W I N G T H E M E R G E R O F F O U R L O C A L S U P E R M A R K E T S T O B E C O M E W E L B E E ’ S , T O D AY J O N A T H A N S H A W L E A D S T H E D I S T I N C T LY M A LT E S E S U P E R M A R K E T C H A I N T O W A R D S A N E W F U T U R E C A R E F U L LY S H A P E D A R O U N D T H E C O L L E C T I V E E X P E R I E N C E A N D C O R E V A L U E S O F I T S PA S T .

Business Administration from the University of Malta, he also boasts certificates in cognitive behaviour and stress management, as well as business, performance and psychological coaching, from the Centre for Coaching and International Academy for Professional Development in London. While also inspiring him to pen a book titled Forty – Be the Change, these qualifications later led to him founding Coaching Minds to focus on niche performance coaching for teams and executives.

With a career spanning various sectors from events management to television production and iGaming to retail, Jonathan Shaw’s role as CEO at Retail Marketing Ltd is his most dynamic one yet – and it requires every facet of his diverse skillset. “A CEO must have a grasp of different sectors,” he points out. “A variety of experiences over the years helps develop a 360-degree approach – especially important in a highly dynamic role such as this. However, you still need to maintain a mindset which recognises that you never know enough and that to grow you must keep learning.”

“I count that time after turning 40, in which I trained in cognitive behavioural coaching, as one of my landmark career moments. It was a huge revelation

In fact, learning has been a core part of Jonathan’s career. As well as a commerce degree and a Master’s in 83

I love challenging the status quo and driving my team, so that, together, we deliver and achieve more. An organisation can achieve greatness if everyone steps up. And don’t we need challenges to grow? and something I wish I had learnt before,” he recalls.

Likewise, his early hands-on experience helped set the stage for future success. “While studying, I set up an events promotion company and I remain a strong believer in the importance of starting young and learning on the job.”

Joining Retail Marketing Ltd in July 2020 as Executive Chairman, Jonathan’s background also made him the ideal candidate to take on his most ambitious role yet: that of CEO. “My role involves three main pillars. Firstly, I manage and oversee day-to-day operations with a long-term vision in mind. Next, I lead, coach, support and inspire top-tier management in managing resources. Finally, I serve as the main point of communication between operations and the board of directors.”

in to stress. It also keeps me in touch with the power of consistency and the steady commitment to showing up.

Success is not about going fast; it’s about not slowing down.”

Long-term consistency and commitment are key factors in the success of the recently rebranded Welbee’s chain of supermarkets, which Retail Marketing Ltd owns and operates. Uniting supermarket stalwarts Park Towers, Valyou, Tower and Trolees under one brand, Welbee’s offers an exceptional customer experience and excellent value across its growing network of local supermarkets and userfriendly online shopping portals.

When navigating such a range of responsibilities as CEO, his cognitive behaviour knowledge is useful not just in managing his own approach, but also that of the vast Welbee’s team. “My training means that I can manage and maintain that inner voice, staying solution-focused and without obsessiveness or stress. Through all the role’s moving parts and challenges – competition, suppliers, clients, products, transactions and so on – I try to be fair and professional in my style,” he explains. “A big part of our culture is investing in our people, encouraging and enabling them to reach their potential. I love challenging the status quo and driving my team, so that, together, we deliver and achieve more. An organisation can achieve greatness if everyone steps up. And don’t we need challenges to grow?”

“The spark behind the merger started many years ago when local competitors joined forces as a franchise to import Carrefour products, which created important import synergies in Malta at the time. The relationship between the owners of these retailers grew organically, until Welbee’s brought them together through the merger in March 2021 and the official rebranding shortly after in October,” Jonathan explains.

Yet, while the name above the door has changed, the core values honed over decades have remained. “Today, Welbee’s offers the same uncompromised selection of quality brands at the same great value, working as much as possible with local suppliers to source the freshest produce in Malta, offered alongside imported products,”

Jonathan’s work-life balance meanwhile masters the art of prioritising and rolling with the challenges as they arise. “I keep a solid daily training regime of swimming or running that reminds me to remain composed instead of giving 84

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

he goes on. “We also have the same friendly, knowledgeable and dedicated people in every Welbee’s store. They provide top-notch service and customer experience. Every shop that joined Welbee’s started with a family, and that family culture remains at the heart of the group.”

Nevertheless, merging four different supermarket chains into one has not been without its challenges, Jonathan shares.

“Heading into the merger, there were supermarkets with four different names to consolidate into one, with multiple owners and different opinions and preferences. It was not an easy process because the logistics of merging and streamlining operations are complex. Yet, bringing together all the expertise of these individually successful business owners has enriched Welbee’s and I continue to learn from them every day. Ultimately, as CEO, success comes from surrounding yourself with those who know more than you.”

And just over a year later, the results speak for themselves.

“Welbee’s literally transformed overnight across all stores and it has become a household brand with a fresh and strong image,” Jonathan beams. “The vision has evolved from that of small single players into one of Malta’s largest supermarket groups.”

Within that first year of operation, the company also had to withstand extraordinary global events that impacted the retail sector – not least, the COVID-19 pandemic. “Although we carried out the merger and rebrand during the pandemic, the grocery retail sector wasn’t as negatively impacted as others were. A decline in tourist sales was counteracted by an increase in local customers shopping online, which created a new opportunity for us to boost our presence on mobile app platforms by offering takeaway food and grocery delivery. In fact, we are the largest supermarket chain currently available on Wolt.”

The popular Welbee’s Loyalty App likewise helps loyal customers mitigate inflation and the rising cost of living resulting from the war in Ukraine. “2022 brought constant changes for the sector, especially for businesses like ours that source products rather than manufacture them. We have over 50,000 SKU products in our portfolio, with almost continuous price changes through inflation. Clients sometimes believe that we are raising prices, but we are actually curtailing these cost increases by issuing more price drops and offers,” he says, pointing to the company’s long-running scheme of giving €7 cashback on every €100 spent, as well as its Loyalty App and recently introduced digital coupons.

By continuing to meet these challenges head-on in 2023, Jonathan plans to capitalise on the opportunities and lessons learnt throughout the company’s first year of trading. “We aim to add more fresh and ready-to-go food options, launch a new state-of-the-art shopping website, further personalise our digital coupons and strengthen our own-label range with even better value,” the CEO explains. “We hope to boost our local sports sponsorship and focus more on customer engagement while creating better platforms for our suppliers.

And, at the heart of our agenda is growth: growth in our market share, growth in brand perception and position, growth in technology and automation, growth in other local areas, and – as always – growth in our people.”

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Quick-fire Questions… with Jonathan Shaw What is your favourite part of the working day?

I love mornings but tend to focus and work better towards the end of the day.

Who do you most admire in the global business sphere?

I’ve grown through the Richard Branson era.

When it comes to running your business, what is your best habit?

Making no assumptions.

And your worst?

At times, trying to be too diplomatic.

What’s a hobby that’s been with you since childhood?

A love for different sports.

Would you time travel to the past or the future?

When and why?

Definitely the future. Leave the past in the past!

What attributes do you value most in your team?

Agility, focus and effectiveness.

Is there a talent you’d like to have but don’t?

Playing the piano.

What has been the greatest milestone in your career so far?

Overcoming failures. Recognise them, pull yourself up and move forward.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

To learn the concept of one’s inner voice and how to contain it.

What is one skill you would like to develop in 2023?

Increased knowledge transfer from my directors.

History is repeating itself. True or false?

False.

The world’s biggest priority right now should be…?

Softening inflation by adding value across multiple areas.

If you could only focus on one project in 2023, what would it be?

Our people and frontliners.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “Managers must get to know each team member on an individual level because everyone is different. Everyone has their own strengths and weaknesses, goals and motivations.”

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MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Lahcene Merzoug

CEO, PRESSENTER GROUP

“ T H E O N LY T H I N G M O R E I M P O R T A N T T H A N O U R PRODUCT IS OUR PEOPLE.”

WITH SEVERAL SUCCESSFUL BUSINESSES TO HIS NAME BEFORE H AVI N G B E E N A PP O I N T E D C E O O F PR E S S E N T E R G R O U P, L A H C E N E M E R Z O U G K N O W S W H A T I T W I L L T A K E F O R T H E C O M PA N Y T O A C H I E V E I T S A M B I T I O N S O F B E C O M I N G A T R U E P O W E R P L AY E R I N T H E G A M I N G I N D U ST RY. I N N OVE M B E R L A ST YE A R , I T WA S A N N O U N C E D T H AT PR E S S E N T E R G R O U P WI L L U N D E RTA K E A M A N AG E M E N T B UYO UT, WI T H LAHCENE APPOINTED EXECUTIVE CHAIRMAN OF THE BOARD. THEREFORE H AVI N G A L R E A DY OVE R S E E N M A S S IVE G R OW T H S I N C E TA K I N G O N T H E ROLE, HE IS RELISHING THE CHALLENGES AHEAD.

Lahcene Merzoug loves building businesses. For him, it is all about the thrill of seeing “strategies and ambitions become reality”. The emphasis is on the journey rather than the destination. Lahcene’s passion has driven him through a career marked by successful businesses in a variety of fields, including restaurants and green tech. He entered the gaming sector in 2013 and then took on his current role as CEO of PressEnter Group in 2021.

contacted by a friend who needed help with marketing – an opportunity I couldn’t refuse. I’ve been working in the sector and living in Malta ever since.”

PressEnter Group started life as BetPoint Group in 2018 when the team behind 21.com took over business operations. Since then, the company has made tremendous strides, transitioning from a small, singlebrand operator to a sizeable organisation that runs multiple online casino assets, including JustSpin, Neon Vegas, Nitro Casino and Ultra Casino. “With tremendous momentum behind the business, we decided to rebrand to PressEnter Group as it better aligns with our ambitions

At the time, Lahcene had just taken a sabbatical and was eager to kickstart a new challenge. “My fiancée and I visited Italy before deciding to move to Malta for a new way of life,” Lahcene recalls. “Not long after arriving, I was 87

We’re building a dynamic organisation and fostering a culture that attracts the best talent the industry has to offer and offers the environment needed for people to reach their full potential.

to become an industry power player over the coming years,” the CEO explains.

Lahcene was recruited as CEO in 2021 to scale the business. “Together with my team, we built a very strong management team and now have a really powerful C-suite in place,” he says. “I also developed and deployed a strategy to expand into new markets, turning PressEnter into a multi-licensed, multijurisdictional entity.”

In managing these impressive and rapid developments, Lahcene has relied on what he describes as a modern leadership style based on soft values, which include creating a good working environment and making employees feel valued and appreciated, while focusing on good communication with clear goals.

“Employees that enjoy their time at work are more creative and productive,” Lahcene asserts.

“At PressEnter, our managers provide our employees with the tools and environment they need to fulfil tasks to the best of their abilities.

Managers must get to know each team member on an individual level because everyone is different. Everyone has their own strengths and weaknesses, goals and motivations.”

Lahcene also takes a similar approach to his own well-being. “Over the years, I have learnt that to thrive, and not only survive, in high-pressure work environments, you must find inner balance,” he says. “This really needs to be seen as a personal project within oneself. I ground myself through exercise and meditation, and I source energy from time spent with friends and family.

I’m also a big believer in nurturing a growth mindset; I constantly strive to become a better version of myself.”

It is precisely this mentality that fuels Lahcene’s vision for PressEnter Group as the company continues its rapid growth trajectory. Since unveiling its new corporate identity, PressEnter has expanded its portfolio with the launch of Rapid Casino. And, it has also entered three new markets in Peru, Chile and Romania, and secured a licence for Ontario, Canada.

Despite this growth, Lahcene’s vision stands firm. “We’re building a dynamic organisation and fostering a culture that attracts the best talent the industry has to offer and offers the environment needed for people to reach 88

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

their full potential. This is what enables us to deliver a superior player experience across all our brands and in each of our target markets.”

In 2022, PressEnter Group moved into a new office facility, occupying six floors of a state-of-the-art building in Sliema. “It has beautiful views over Valletta and the space has been specifically designed to provide the optimal working environment. Here, team members can push boundaries while also being able to take a break and switch off when they need to.”

PressEnter Group is perfectly positioned to push onwards to new and exciting developments in 2023, especially in light of the Management Buyout. First on the horizon is its hotly anticipated debut in the highly competitive online sportsbook market. The company has teamed up with Sportradar, a leading sports technology company, to deliver the cutting-edge solution that will power PressEnter’s first sportsbook brand, XLbet.

“XLbet is being positioned as a challenger online sportsbook brand that will provide a seamless player experience,” Lahcene explains. “This includes the sports, markets and odds offered to players. We’ve also applied our magic touch to other key areas, such as player onboarding, bonusing, payments and customer support. This is where XLbet will stand out from the crowd and our competitors, thereby driving acquisition at scale and taking customer retention to the next level.”

Quick-fire Questions… with Lahcene Merzoug What is your favourite part of the working day?

Early mornings, when I walk and meditate.

Who do you most admire in the global business sphere?

Friends building successful businesses and being the best employers possible.

When it comes to running your business, what is your best habit?

Seeing solutions instead of problems.

And your worst?

Focusing on small details too much.

What’s a hobby that’s been with you since childhood?

Sports, fitness and science fiction.

Would you time travel to the past or the future?

When and why?

The future to see how everything turns out.

What attributes do you value most in your team?

Creativity, empathy and passion for our vision.

Is there a talent you’d like to have but don’t?

Singing.

As exciting as the year ahead looks, Lahcene is keenly aware that “the need to constantly adapt to everchanging regulations around the world is an everevolving challenge.”

But of course, where there are challenges, Lahcene also sees opportunities. “We are an agile organisation, so we can react to changes quickly and easily. This also means that we can launch more brands in more markets and move fast when we spot acquisition opportunities that will enable us to scale the business,” he adds.

It is with this in mind that PressEnter strengthened its management team last year with a series of major hires, including Qurban Hussain as Chief Financial Officer, Hampus Eriksson as Chief Product Officer and Terese Thagaard as Chief Legal Officer.

Lahcene knows, however, that while recruiting talent is one thing, keeping hold of it is another. Overcoming the challenge of retention takes Lahcene back to his most fundamental business values. “We want our people to love what they do, which is why we have worked hard to develop a culture that ensures colleagues are motivated, happy and healthy at all times,” he says. “We have a mantra that the only thing more important than our product is our people, and we make sure they never forget that.”

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What has been the greatest milestone in your career so far?

Rather than one, there have been many highlights along the way.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Depends on the task I’m doing.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Travel more and strike a good work-life balance.

What is one skill you would like to develop in 2023?

Callisthenics.

History is repeating itself. True or false?

Both – out of repetition emerge new things.

The world’s biggest priority right now should be…?

The environment.

If you could only focus on one project in 2023, what would it be?

Taking PressEnter to the next level.

MaltaCEOs 2023

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“Understanding different people’s needs and serving them in the best way possible is sometimes challenging, but these interactions are vital for a business to be progressive and successful.”

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Matthew Wismayer

EXECUTIVE DIRECTOR, PET NUTRITION HOUSE

“ S U CC E S S H A S TA K E N D E T E R M I N AT I O N , SACRIFICE AND PERSEVERANCE.”

FROM HUMBLE BEGINNINGS, PET NUTRITION HOUSE’S BRANDS OF PET FOOD ARE NOW SOLD IN 62 COUNTRIES , KEEPING PETS H E A LT H Y A N D W E L L - F E D T H E W O R L D O V E R . F O R M A T T H E W W I S M AY E R , B U I L D I N G T H E C O M PA N Y T O T H I S L E V E L O F S U C C E S S H A S N OT CO M E E A SY, A N D H E I S ST I L L FA R F R O M F I N I S H E D.

When Matthew Wismayer left his family’s business in the textiles industry in 2010, he set out with a very clear vision: to create a pet food brand that would offer a genuine, healthy alternative for pet owners and that would be able to compete with the massive multinationals that dominated the sector.

That approach has clearly yielded fruit. When it started, Pet Nutrition House was the first company to produce a local pet food brand in Malta. Within three years, it was the first to sell internationally. Today, it employs around 50 people, sells its Pet Prince and Pet Princess brands in 62 countries across four continents, and has recently inaugurated the first factory plant of its kind in Malta, which is set to give the company even greater exposure, visibility and capability for growth.

“We knew we stood no chance if we tried to be a clone of other companies,” Matthew recalls. “So, our best chance of success was to create our own story, something which was exciting and intriguing.

Multinationals only see numbers and profitability, whereas we had a clear principle in mind as well, that of formulating healthier diets which would better the lives of our animal companions. This was what we felt would gain us visibility and respect in the pet market.”

For Matthew, the company’s continued success is down to years of hard work. “Building a brand like this has taken determination, sacrifice and perseverance,” he says. “I was in my comfort zone in the family business, and it would have been fairly easy for me to remain where I was. But, creating my own story by getting out

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Pet Nutrition House, with its unique story in the pet world, was a means for me to discover and interact with people who helped me lead by example. They moulded

and building something new was very important to me. It has helped me better my life and allowed me to contribute to consumers, the economy and the people we work with.”

me to become a better human being, and inspired me to influence and assist others positively.

Today, 75 per cent of Pet Nutrition House’s business is export-driven, so its international outlook and plans for its market share to grow even further are no surprise.

“Interacting with people from all over the globe is the most fascinating and exciting part of the job,” Matthew says. “Understanding their needs and serving them in the best way possible is sometimes challenging, but these interactions are vital for a business to be progressive and successful.”

Matthew believes that one of the key reasons the company has managed to set itself apart is its ability to create one of the most diverse, intriguing and appealing range of products in the pet world, today comprising some 550 items. “Although we are not a multinational, with the limited resources we’ve had, we’ve performed miracles in attaining our goals, which has helped us attract more attention and interest,” he says. He also points to the importance of the local shop owners who put their faith in the company in its earliest days. “We were an unknown brand, competing against giants. It should have been impossible,” he laughs, “but the local pet shops that were willing to place us on their shelves close to important brands provided us with crucial visibility.”

Today, the largest market for Pet Nutrition House is in Europe, but Matthew reveals that Asia, the Middle East

and North Africa are all markets with much greater room for growth, and the company is already working hard to tap into new markets in the Americas. “Being present in Europe is already an important milestone. It’s proof that we are up to standard and producing high-quality products, which are being received very well. Our objective in the coming months is to consolidate our existing markets while exploring new ones, such as Argentina, Brazil and Chile.”

However, it is in Malta that the company recently unveiled its latest major achievement, with the inauguration of a new factory at the end of a four-year process. “This is the pinnacle of all that we’ve been working towards and achieving,” Matthew says. “We believe this will help us build more value for the brands we have, giving us more of a competitive advantage. Our objective is to create strong local pet food diets using Maltese ingredients aimed at longevity and a healthy lifestyle. Mediterranean diets are known to be among 92

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the healthiest worldwide, and we intend to blend as many functional ingredients in our pet diets as possible to offer a unique lifestyle for our animal companions.”

The factory is also a practical demonstration of the company’s commitment to environmental responsibility. It is equipped with over 1,000 solar panels capable of generating 70 per cent of its energy needs. Other measures have also been put in place to maintain a low carbon footprint, including the use of eco-friendly and recyclable packaging materials. As Matthew explains, “we’ve always had this green vision and an environmental and social responsibility towards the Maltese people and the planet.”

Despite these incredible achievements, however, 2022 was not all plain sailing. During the pandemic, people spent more time at home with their pets and spending on other activities was limited, so the pet industry experienced a significant boost, Matthew recalls. “However, with the onset of the war in Ukraine, inflation and price hikes, we’re seeing consumers becoming far more conscious of expenditure. Meanwhile, costs of raw materials are increasing every week. I expect the scenario to remain very challenging for some time, but on the other hand, this year has taught us to be more attentive when creating new products, focusing on ones that represent good value for consumers and, most importantly, are affordable. I believe this will be the key to success in the coming years.”

Nevertheless, Matthew is highly optimistic about the company’s future. He highlights that it has been growing at a rate of 18 to 20 per cent every year, while the industry average is 6.1 per cent, and he expects to continue outperforming competitors in the year ahead. “Our goals are to continue tapping into new markets, particularly in the Americas, while consolidating our existing ones, which are still not at full potential and therefore offer room for growth. We don’t predict a slowdown because we have a very clear and enticing vision of how we want to reach our consumers.”

Moreover, there are exciting new developments ahead for the company, first of which is the opening of its first flagship store in Malta, with plans for more concept stores just around the corner. “We aim to offer a whole experience to pet owners who visit our shop,” Matthew explains. “There’s a lot of innovation going into it to ensure you don’t only come out with a product, but that you also have a memorable experience. We want to offer a unique and diverse concept, which is as yet unseen in the pet world.”

The biggest focus, however, is on further internationalisation, with exports set to increase to 90 per cent of the company’s business over the next year. Yet, while the Maltese market will represent a smaller share of business, Matthew is keen to stress that Malta remains central to the brand’s identity.

“We’re proud to be a Maltese company and we understand the value of selling something Maltese,” he says. “We believe our local identity can help us achieve greater success worldwide and help other businesses in Malta that might follow our path. It’s not something we’re doing just for ourselves. Our inspiration is always the same: to continue sharing our story with the world by presenting consumers with something different, unique, authentic and truly inspirational.”

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Quick-fire Questions… with Matthew Wismayer What is your favourite part of the working day?

The morning, when I’m most energised.

Who do you most admire in the global business sphere?

Anyone capable of learning, growing and engaging with different cultures.

When it comes to running your business, what is your best habit?

Reacting to new situations quickly.

And your worst?

Feeling helpless when I can’t resolve issues instantly.

What’s a hobby that’s been with you since childhood?

Football and running.

Would you time travel to the past or the future?

When and why?

Neither. I live in the present and enjoy every moment.

What attributes do you value most in your team?

Empathy and teamwork.

Is there a talent you’d like to have but don’t?

Better computer literacy.

What has been the greatest milestone in your career so far?

Building a reputable international brand.

WhatsApp – a useful tool or the bane of your existence?

An indispensable tool because it saves me a lot of time.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Learn how to listen and create your own story.

What is one skill you would like to develop in 2023?

Learning more languages.

History is repeating itself. True or false?

True, and we must learn from it.

The world’s biggest priority right now should be…?

Peacebuilding and the environment.

If you could only focus on one project in 2023, what would it be?

Establishing our concept stores.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Antoine Galea Salomone

CEO, SG SOLUTIONS

“AS A BUSINESS LEADER, I STRIVE TO IMBUE THE VA LU E S O F I N T E G R I T Y, FA I R N E S S A N D CO R R E CT N E S S .”

WITH THE LAUNCH OF ICENTRE, THE FIRST APPLE PREMIUM RESELLER O U T L E T I N M A LT A , S G S O L U T I O N S F O U N D T H A T I T H A D A H I G H LY SUCCESSFUL POINT-OF-REFERENCE BRAND WITH HOUSEHOLD R E C O G N I T I O N O N I T S H A N D S . H O W E V E R , T H E C O M PA N Y H A S A L S O B E E N D R IVI N G D I G I TA L C H A N G E I N T H E LO CA L M A R K E T FO R WE L L OVE R 5 0 YE A R S T H A N KS TO I TS LO N G - STA N D I N G R E L AT I O N S H I P S WI T H H E AVYWE I G H T I N T E R N AT I O N A L T EC H G I A N TS S U C H A S D E L L T EC H N O LO G I E S , R I CO H , I N G E N I CO, VMWA R E , M I C R O S O F T A N D CO U N T L E S S OT H E R S .

respect and empathy. Even 14 years after taking on the CEO role, he continues to feel the responsibility of being torchbearer for his grandfather and company founder Victor Salomone’s values.

Every week CEO Antoine Galea Salomone takes the time to stop and chat with practically everyone working in SG Solutions’ headquarters in Birkirkara. His leadership style welcomes employees to open up with him and share any worries on their mind. On his part, Antoine is only too happy to help his people out and solve their problems in any way he can.

“My late grandfather always stressed the importance of integrity, fairness and correctness in all we do, whether it is dealing with an employee, selling a product or service, or making a profit. As a business leader I strive to imbue these values across our organisation. I want to provide a work environment that feels like a second home for our employees,” Antoine explains.

It’s perhaps not overly surprising that Antoine, who represents the third generation of the family-run VJ Salomone Group of Companies, has fostered a workplace culture built firmly on the principles of 94

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CEO INSIGHT “It’s crucial to go about business in the right way and not to walk all over people or harm the environment for the sake of making a quick buck.”

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The customer is my boss. That’s why I 100 per cent believe that it’s important for me to be present with them and to listen carefully to what they have to say.

For any member of the Salomones, a position in the family business has never been an automatic ticket to CEO privileges. Starting from the bottom of the ladder, a 20-year-old Antoine began his career promoting and selling Casio products. He steadily worked his way up the responsibility ladder and was eventually tasked by his father to transform and grow what was then VJ Salomone Equipment, a middling venture primarily focused on cash register products. While it took some convincing from his father, Antoine soon dove into the challenge and began shepherding the company’s gradual metamorphosis from equipment supplier to a leading technology provider with a broad portfolio of renowned brands, a transition that was firmly cemented with the opening of the first iCentre in Sliema.

Today, the company operates three iCentre outlets across Malta and has become the go-to destination for Apple products and services in the local market. Ten years ago, Antoine was also presented with an opportunity to

expand the business in Hungary, where it now operates an additional four Apple Premium Reseller outlets in Budapest. For the CEO, this expansion overseas has been a golden opportunity to strengthen SG Solutions’ relationship with Apple and keep track of new and emerging trends on the international market.

The overwhelming popularity of the iCentre brand has perhaps eclipsed the company’s many other accomplishments in driving forward significant digital change in Malta. Chief among these has been its contribution to creating a more cashless society, through its Electronic Point of Sale (EPOS) systems.

“SG Solutions has been leading the digital payment transition for many years now and, today, we facilitate the installation and technical support of EPOS machines in over 10,000 retail outlets on the island,” Antoine explains.

“The pandemic clearly accelerated the drive for more and more customers and retailers to switch to cashless transactions.”

In fact, the pandemic saw SG Solutions experience an extraordinary spike in sales, marking one of the busiest periods of business during the company’s 50-year history.

Business aside, Antoine admits the pandemic was also an opportunity to be reminded of more important lessons in life.

“Lots of business leaders today tend to be driven by money, money, money, and more, more, more. Yes, 96

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ensuring the future of your company is important but it’s also important to enjoy and appreciate life. I love business, I love meeting people and I love growing an idea into a fully-fledged venture. But it’s crucial to go about business in the right way and not to walk all over people or harm the environment for the sake of making a quick buck.”

The pandemic wasn’t all roses for the company and it did in fact present the start of an ongoing hurdle of supply chain delays and rising costs that continued to persist throughout 2022 as political tensions simmered across Europe. The past decade or so has also seen competition in the local tech space increase at a rapid pace.

“Competition is fierce, but I believe with our established relationships, both with our local clients and with our international partners, we have a high degree of credibility that lends us an edge. That said, we can’t simply coast on our reputation. We’re faced with an ongoing challenge to maintain our high standards and keep up with the fast and ever-changing tech landscape.

The pace of technological change can sometimes be challenging since today’s optimum solutions may be obsolete by tomorrow, which is why it is important to constantly refresh and innovate one’s business.”

To this end, Antoine is looking towards AI, cybersecurity, and the Internet of Things (IoT) as trends which are gaining prominence and areas to pursue over the coming years. Due to the company’s diverse portfolio of products and services, the CEO also recognises the importance of investing in upskilling and accreditation so that his teams can better service clients.

“At the end of the day, the customer is my boss. That’s why I 100 per cent believe that it’s important for me to be present with them and to listen carefully to what they have to say. As well as being providers of tech, today our clients are looking towards us as trusted advisors. I want us to be there, not only to support them along their digital evolution, or complete transformation in some cases, but also to light up the path for innovation and help them succeed,” he adds.

With a legacy that spans 50 years, SG Solutions certainly has the foundations to ensure its own ongoing success.

Looking back on the company’s incredible journey, from a cash register business to a well-respected operator in the local tech space, what qualities does Antoine believe have been the secret to its success?

“If I were to summarise it, I’d call it the PPP formula – People, Products and Professionalism. Our success revolves around a motivated and passionate workforce, great products and professionalism in all we do. To this end, we continue to invest in and build our team, and make sure they have the right environment and tools to work with. Forging excellent working relationships with customers and suppliers is a key success factor. Being able to innovate, adapt and reinvent oneself is also vital to succeed in our line of business,” Antoine concludes.

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Quick-fire Questions… with Antoine Galea Salomone What is your favourite part of the working day?

Discussing ongoing business and planning new opportunities with my team.

Who do you most admire in the global business sphere?

As an avid Apple fan, I’ve always admired the late Steve Jobs.

When it comes to running your business, what is your best habit?

Persistence and determination.

And your worst?

Being too demanding on myself and others.

What’s a hobby that’s been with you since childhood?

Tennis.

Would you time travel to the past or the future?

When and why?

The future, because the future is always exciting for a tech company.

What attributes do you value most in your team?

Loyalty, dedication, collegiality and integrity.

Is there a talent you’d like to have but don’t?

Crystal ball gazing.

What has been the greatest milestone in your career so far?

Taking the iCentre brand overseas.

WhatsApp – a useful tool or the bane of your existence?

A useful tool, if used properly.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Get a Doctorate in Business Studies.

What is one skill you would like to develop in 2023?

Diplomacy.

History is repeating itself. True or false?

True and false.

The world’s biggest priority right now should be…?

Peace and the sustainability of our planet.

If you could only focus on one project in 2023, what would it be?

Achieving a better work-life balance.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Kurt Farrugia

C E O , M A LT A ENTERPRISE

“ WE ’ VE L E A R N E D A LOT, A N D H AVE D EVE LO PE D A H E A LT H Y S T A R T - U P E C O S Y S T E M . ”

A P P O I N T E D C E O O F M A LT A E N T E R P R I S E I N 2 0 1 9 , K U R T F A R R U G I A APPROACHED HIS NEW ROLE WITH ENERGY AND A CLEAR VISION: TO CO N T I N U E D IVE R S I F YI N G T H E E CO N O M Y, TO M A I N TA I N C O N T I N U I T Y I N A I D I N G C O M PA N I E S T H A T W E R E I N T H E P R O C E S S O F S E T T I N G U P O N T H E I S L A N D A N D , F I N A L LY , T O W O R K W I T H C U R R E N T F D I s T O E N L A R G E A N D E X PA N D T H E I R O P E R A T I O N S .

“One of the aspects I really wanted to improve was the start-up ecosystem,” Kurt Farrugia says of his early days as CEO of Malta Enterprise. “I firmly believe that we can continue to diversify the economy, firstly by attracting talent and secondly by making sure to entice companies at an early phase so that they can grow their products and services in Malta.”

companies with a better-skilled workforce and higher wages. “Those were strategic goals that we are now achieving,” he smiles.

One reality he didn’t foresee, of course, was COVID-19, but this too brought about its own milestones.

Highlighting a core moment, Kurt recalls, “when we were called into the office of the Prime Minister to come up with a solution for the doomsday scenario that the pandemic was bringing about – all the forecasts indicated that we would have thousands on unemployment benefits.”

The first step in achieving this mission was acquiring a snapshot of where Malta Enterprise stood and setting a strategic direction for it moving forward. “I began by taking stock of the situation and analysing which companies we could target, as well as the incentives that made sense for the Maltese Islands,” he explains, noting that, this exercise revealed that rather than incentivising larger companies with low-skilled workers, it makes more strategic sense to attract smaller

Against this difficult backdrop, Malta Enterprise was among the stakeholders tasked with drawing up plans to assist the local economy – an unprecedented challenge that came with no instruction manual.

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CEO INSIGHT “From my experience of all the challenges over the last three years, I’ve learned that while you have to plan for the long term, it is also important to be able to adapt as quickly as possible.”

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We keep seeing a lot of interest in Malta in terms of FDI, as well as companies that are already in Malta expanding their operations.

“My predecessor said to me that no one day is like the other in this job – but I’d even take that a step further.

Things change so much from meeting to meeting, even on the same day,” he laughs, attempting to describe a typical day in his working life. “I usually start off with a meeting over a coffee before going to the office. Between 10am and 4pm I’m usually in the office meeting our clients and new prospective investors, after which I try to catch up with the inevitable backlog of calls, emails and messages. Then, between 5pm and 6pm, I fit in a meeting outside of the office.”

“No one had any idea of what was to come, and internationally there wasn’t enough experience. When COVID hit, it hit very quickly, so we couldn’t look at what others were doing. Together, we came up with the idea of a wage supplement, as well as several other schemes, including quarantine assistance and subsidies on electricity and rent, targeted to help keep businesses alive and employment stable.”

Admitting that he does struggle with balancing business with his personal life, the CEO has one go-to when he needs to decompress. “Up until a year ago, I’d relax by playing games on the PlayStation after work, but now I have competition from my seven-year-old!

I also fit in an early morning gym session three or four times a week. I do need to work harder to find a balance though, and one of the issues with this is the regular invites to work-related events in the evening. It’s part of my duty and I try to fit that in as well, but it’s not the best part of the job!”

Since then, the country and its economy have proven their resilience, emerging from the pandemic with record low unemployment levels and the news of several company expansions, the CEO points out, referencing De La Rue’s recent expansion, as well as new investments, particularly in pharmaceuticals and aviation.

First established in the 1950s, Malta Enterprise is the latest evolution of multiple organisations before it, all sharing the objective to attract foreign investment to Malta. As CEO, Kurt’s work is certainly never done. “One of Malta’s unique selling points is that we know our clients on a personal basis. We meet and socialise with

“Added to the expansions and new, large manufacturing investments, we developed a healthy start-up ecosystem, of which we will see the benefits in the years to come,” he maintains, detailing his experience at the entity’s helm.

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them regularly, and are always on hand to help them deal with any challenges,” he says, acknowledging that, as time goes by, it is imperative that the entity continues to target the needs of Malta’s contemporary business market.

“We need to make sure that the jurisdiction is not just catering for companies, but that it is also catering for the employees that they want to bring to Malta. So, we need to ensure that the companies setting up here find the right talent, and that the employees they attract find the right environment to live in Malta,” he explains.

Quick-fire Questions… with Kurt Farrugia

Indeed, Malta’s diverse economy has resulted in impressive growth year-on-year, despite shocks brought about by external factors like COVID-19. It is this winning strategy that the CEO plans to continue to build on moving forward. “Our approach remains to look for new economic niches and create new sectors, either by coming up with new incentives or by regulating and developing legislation for certain sectors that make us more competitive than other jurisdictions,” Kurt says, referencing medical cannabis and CBD-based products among the most recent. “We are also working on a legal framework for start-ups, with a view to attracting the most innovative start-ups to Malta.”

What is your favourite part of the working day?

Meeting colleagues in the morning.

Who do you most admire in the global business sphere?

Reed Hastings.

When it comes to running your organisation, what is your best habit?

To keep smiling.

And your worst?

Doing something else while in a meeting.

What’s a hobby that’s been with you since childhood?

Any sport.

As 2022 continued to throw curveballs at businesses across industries, the CEO believes that the way forward lies in the agility to adapt. “From my experience of all the challenges over the last three years, I’ve learned that while you have to plan for the long term, it is also important to be able to adapt as quickly as possible.”

Would you time travel to the past or the future?

When and why?

10 years into the future, as I wouldn’t want to change anything about my past.

This is also true for Malta Enterprise itself, he notes, stating that the speed with which the entity reacts to feedback coming from stakeholders has certainly been affected.

“COVID taught us that companies need to adapt quickly to changing circumstances to survive, so we launched the Change to Grow and the Smart and Sustainable schemes, assisting companies to make their operations more sustainable. This also fits in with the strategic goals we set out before the pandemic,” the CEO reveals.

Is there a talent you’d like to have but don’t?

Playing an instrument.

Setting his sights on the future of the country’s economy and foreign direct investment, Kurt believes that the indicators are positive. Though while he certainly has plans, he also emphasises the importance of flexibility to face unexpected circumstances.

Still, he ventures, “we keep seeing a lot of interest in Malta in terms of Foreign Direct Investment (FDI), as well as companies that are already in Malta expanding their operations. The fact that the country assisted them with the right tools in difficult times has meant that several companies are now making strategic decisions to expand in Malta as a result.

“Moving forward, we need to ensure that we are targeting a better quality of life for all those living in Malta. This is not just down to Malta Enterprise, but the country as a whole. We need to ensure that the decisions being taken in the business sphere are supplemented by the right decisions being taken in relation to the environment and quality of life. If we do not align in this respect, we will face consequences.”

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What attributes do you value most in your team?

Versatility.

What has been the greatest milestone in your career so far?

Switching from my previous job in communications to my current diverse role.

WhatsApp – a useful tool or the bane of your existence?

If there is a stronger word than bane, that would be it.

Do you focus best in complete silence, with background noise, or while listening to music?

Noise.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

To balance work and life better.

What is one skill you would like to develop in 2023?

Time management.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

The start-up legal framework will leave a legacy in terms of achievements at Malta Enterprise.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “A brand needs to know how to add value to its customers without trampling over its own values towards society and the environment.”

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Peter-Jan Grech

CEO, BRND WGN

“MY ROLE AS CEO ISN’ T TO HOLD THE WEIGHT OF THE BUSINESS BUT TO INSPIRE OUR PEOPLE TO REACH THEIR FULL POTENTIAL .”

L AU N C H E D I N 20 0 6 A S A F R E E L A N C E N E T WO R K O F C R E AT IVE S , B R N D W G N H A S E V O LV E D I N T O A H I G H LY R E S P E C T E D S T R A T E G I C A N D C R E A T I V E A D V I S O R Y F I R M K N O W N F O R D E V E L O P I N G I M PA C T F U L B R A N D S T H AT A D D T R U E VA LU E TO T H E I R PE O PL E A N D C U STO M E R S .

As a promising young ad man working for a respected local agency, a twentysomething PeterJan Grech was quick to cotton on to certain flaws in the marketing modus operandi of the early 00s.

Firstly, agencies were pouring too much energy into selling advertising space over developing innovative creative ideas. And, perhaps more crucially, while the execs enjoyed plenty of perks on the job, the creatives who were expected to deliver the goods were treated rather poorly.

business further through the talents of accountant Gareth Sciberras and digital entrepreneur Chris Knights, Peter has overseen the growth of the agency from a two-person enterprise into a 30-strong team spanning Malta and London.

A forward-thinking mindset has ensured BRND WGN has blazed a trail of firsts in the local sector, including being one of the first agencies in Malta to achieve ISO certification, unassailable proof of their global quality standards in brand strategy and creative services.

It was through these simple but significant realisations that the seeds for BRND WGN were sown. Teaming up with friend and fellow creative Kris Vella Petroni, Peter initially set up BRND WGN as a freelance network of creatives. The rest, as they say, is history. Fortifying the core of the

“From the start, we really prioritised creativity and strategy as a real marriage made in heaven,” Peter explains. “We wanted to empower our creatives to flourish. So, we shifted our focus from selling 103

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I want to give our people a real voice and a level of freedom that enables them to explore new possibilities that will define the company.

working in the business as opposed to working on the business. Then, as we began to grow, my attention turned to securing the right talent to join our team.”

In 2010, BRND WGN also took its first steps towards globalisation with the opening of its London office.

Plans for further expansion were already underway when COVID-19 effectively brought the entire world to a standstill. Peter admits that the pandemic “ravaged” the agency. Much to the CEO’s chagrin, it was forced to let several people go and Peter realised that, to help the team weather the storm, he was needed back in the fray, helping with the day-to-day of the business.

advertising space to selling great ideas. In fact, we were the first local agency to stop selling advertising altogether back in 2015.”

With an eye keenly on rising online trends, the agency also pushed ahead in earnest with offering social media advertising as a service way before others in the industry took note. “At the time, a lot of the bigger agencies pretty much ignored Facebook. We really saw an opportunity there for a new way of helping our clients connect with their audiences. And that gave us a lot of kudos. More people started to pay attention to us and what we were offering.”

“Letting members of our team go was one of the hardest decisions of my entire career. But I took the time to make sure we had secured jobs for everyone.

Thankfully, things have begun to settle over the past year and we have re-hired a few people. It’s also given me the space to return my focus to setting the strategy and vision for BRND WGN going forward.”

Core to this vision is an ongoing goal to empower the entire BRND WGN team to shape the company and have a say in its future.

Landing Air Malta as a client in 2010 was arguably the milestone that finally catapulted the agency into the big leagues. And, as the business has evolved over the past 16 years, so has Peter’s role as CEO.

“Our three main principles at BRND WGN are: challenge everything, be brutally honest, and find a way. These principles serve us to challenge and question anything that comes our way, not only our

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work and ideas but also potential clients. We will ask ourselves: do this client’s values and ethical practices align with ours? If the answer is no, then let’s actively seek out those clients who inspire us to deliver our best work.”

2022 also saw BRND WGN strengthen its strategic services, boost its creative manpower, move into new offices at The Brewhouse, and upscale its London premises. The team also took some much-needed downtime after 24 months of being on a neverending roller coaster.

“I would say that, overall, our mood and spirit are at the highest they’ve ever been,” he says with a genuine note of satisfaction.

The agency is also ensuring it remains ahead of the game by exploring emerging digital innovations. While Peter admits he isn’t particularly bullish on Metaverse, he and his team have singled-out low-code/no-code development as being the next real game-changer in the industry, an innovation that will help clients design and deploy their websites and online services much quicker than ever before.

But with the digital potentialities for building brands in a constant state of flux, does Peter believe there are any fundamental components behind a successful brand in the modern age? And how is that success measured?

“When everything is against a brand and customers still choose their products and services over the competition, that’s when you know you’ve created a truly impactful brand. More than ever before, a brand needs to know how to add value to its customers without trampling over its own values towards society and the environment.

“And that’s where we come in at BRND WGN. We work collaboratively with our clients to really try and understand what’s important to them, but also what’s important to their own customers. We help our clients navigate challenges beyond just marketing and design. We talk about their strategy and find ways to implement impactful decisions across all levels of their operations so they can add greater value to their employees and customers. I believe this is what truly differentiates BRND WGN from a lot of other agencies out there,” Peter explains.

Looking back on a 16-year legacy that positively shook up the local marketing sector, surviving the two-year pandemic, and looking forward to what BRNG WGN has in store for the coming years, it would be understandable should Peter feel it’s time to ease his foot off the pedal a notch. Far from it, his sights remain fixed on bigger and brighter prospects for the entire agency.

“One of the biggest lessons I’ve learned over the years is that my role as CEO isn’t to hold the weight of the business; it’s to inspire our people to reach their full potential so that together we can push the business forward. I have huge respect for our team and for all the people who’ve stayed loyal to BRND WGN over the years. And I want to give our people a real voice and a level of freedom that enables them to explore new possibilities that will define the company. Ultimately, I see the growth of BRND WGN not in it eventually being sold off in some multimillion deal, but through building a company which is truly infinite, and which enables our people to own and shape its future,” he concludes.

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Quick-fire Questions… with Peter-Jan Grech What is your favourite part of the working day?

Workshops with the team and clients.

Who do you most admire in the global business sphere?

Yvon Chouinard, retired CEO of Patagonia.

When it comes to running your business, what is your best habit?

Being annoyingly resilient.

And your worst?

I’m terrible at saying no.

What’s a hobby that’s been with you since childhood?

Camping.

Would you time travel to the past or the future?

When and why?

To 2090 to see whether BRND WGN is still around.

What attributes do you value most in your team?

Honesty, critical thinking, humour and passion.

Is there a talent you’d like to have but don’t?

No. What has been the greatest milestone in your career so far?

Setting the vision for BRND WGN’s future.

WhatsApp – a useful tool or the bane of your existence?

Useful.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

This too shall pass… so take nothing for granted.

What is one skill you would like to develop in 2023?

Better time management.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Climate change.

If you could only focus on one project in 2023, what would it be?

The globalisation of BRND WGN.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “I believe the commitment towards work needs to be based on more than simple self-interest. Leaders need those who are committed to their role for reasons beyond simple self-aggrandisement.”

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Kenneth Farrugia

CEO, BANK OF VA L L E T TA

“ B E D R IVE N BY YO U R LO N G -T E R M A S PI R AT I O N S .”

A F T E R A L M O S T F I V E D E C A D E S A S O N E O F M A LT A ’ S L E A D I N G F I N A N C I A L I N ST I TUT I O N S , B A N K O F VA L L E T TA H A S R E M A I N E D ST E A D FA ST I N I TS COMMITMENT TO PROVIDING ITS CUSTOMERS – AND THE COUNTRY – WI T H A D E PE N DA B L E S E R VI C E WH I C H CA N WE AT H E R R O U G H WI N D S .

T O D AY , I T S C E O K E N N E T H F A R R U G I A I S D E T E R M I N E D T O H A V E T H I S CO N STA N CY S P U R T H E EVO LUT I O N O F I TS F UTU R E ST R AT E G Y.

At almost 50 years old, Bank of Valletta is one of the doyennes of Malta’s financial services and banking sectors. Established in 1974, today, it is one of the country’s systemically important banks (SIB), upon which the island’s economic system rests. As a result, “we’ve always prioritised the effective delivery of our services,” BOV’s CEO, Kenneth Farrugia asserts, going on to explain that the customer lies at the very heart of the institution’s long-term goals and strategy.

launched mobile banking once technology could sustain this; we were one of the first to establish a network of ATMs across the island; and, later, we entered into the financial services sphere with our asset management programmes,” Kenneth explains.

At its helm, Kenneth sees his role as “contributing to the strategic development of the bank,” by harnessing its various capabilities – such as its human resources and capital investments – to execute its long-term plans. And, with his almost four decades of experience in the banking sector, Kenneth is well positioned to understand the challenges and opportunities which face BOV. “Over the years, I moved within the industry and, later, within the organisation, working my way up to CEO,” he recalls.

“As the largest bank in Malta, we’ve always been in a leadership position,” he says. This has driven BOV to remain at the forefront of the industry through the introduction of new technologies, and systems, he continues. “We’ve long been known for our innovations which have prioritised our clientele: we were the first to introduce internet banking in the 1980s; we then

There were many career defining moments on this 107

Our plans for this year are to strengthen our personalised service, empower customers through self-service functionalities, and use data to better optimise and linearise our operations.

journey, he says: he started out working in retail banking, moving into the investment space after a few years. In 1995, he joined BOV, having been entrusted with establishing Malta’s first asset management company – BOV Asset Management (known at the time as Valletta Asset Management). “We set it up in six to seven months, and the first investment fund was launched in October 1995. In 2004, when we joined the EU, we started to explore more opportunities for the bank, and one of these was the setting up of a fund-servicing outfit, for which I was responsible,” he outlines.

This became BOV Fund Services. “I ran that for a number of years, helping to provide fund administration to investment funds of the group and third parties,” he explains.

He credits his years of success to his attitude towards all his endeavours. “I believe the commitment towards work needs to be based on more than simple selfinterest. In other words, while some people are fixated on how much remuneration they will be getting – over

and above the personal satisfaction their position could bring – leaders need those who are committed to their role for reasons beyond self-aggrandisement,” he says. This requires vision of the future. “You need to be driven by your long-term aspirations, not short-term wins,” he states.

This philosophy has stood him in good stead for, today, Kenneth has reached the apex of his career, and enjoys decision-making capabilities leading the strategy at the bank. Indeed, his position is to “support fellow chief officers on the executive committee,” and his typical day is spent in meetings dealing with the governance structure of the bank, as well as more operational matters. He is energised by the bank’s commitment to developing new projects and initiatives, which aim to deliver better customer experiences. “It gives me great satisfaction to see the positive outcome of some projects,” he asserts, although he admits to the necessity of ensuring his time is spent efficiently. “You never have enough time, so I am constantly trying to be more disciplined,” he smiles.

Prioritising the customer experience is imperative in a market that has changed markedly over the past 50 years. “Today, there is a proliferation of operators in the sector – so there is much more competition.

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customers’ expectations – in wanting their banks to be more responsive, and to have digital solutions on offer – have changed, shifting the way we work,” Kenneth explains.

As a result, and to ensure enhanced competitivity, the bank has, among other initiatives, recently launched a digital product to streamline home loan enquiries via its website, through which customers can log into the home loan page and get an assessment of how much can be borrowed, with the further capability of submitting an application online.

“It has been very well received, and this is the direction we’re heading into as we continue to refine our products,” he says. “We want to give that wow factor to our clients.

And there is more to come in this space, as we review the customer experience of our digital and physical channels,” he states, adding that, as testament to its commitment to improving outreach, the bank has recently organised a CX (customer experience) week to discuss developments in this sphere. “Our plans, even for this year, are to strengthen our personalised service, empower customers through self-service functionalities, and use data to better optimise and linearise our operations,” he says. “The bank’s aim is to continue to be seen as a leader in the market, so we want to bring innovation to our customers.”

However, such an intent has not meant, he insists, a wholesale pivot into the digital sphere, without consideration for more established ways of connecting to the customer. “We offer an omnichannel service, that is providing physical, digital and hybrid customer support.

We try to accommodate a balance between these different methods. In fact, if you look at our branch network, you’ll see we have the same number of outlets as all the other branches of all the other banks put together,” Kenneth points out, insisting on the importance of maintaining a strong presence in Malta and Gozo’s towns and villages.

Quick-fire Questions… with Kenneth Farrugia What is your favourite part of the working day?

The early hours of the morning.

Who do you most admire in the global business sphere?

Warren Buffett, Chairperson of Berkshire Hathaway.

When it comes to running your business, what is your best habit?

Being agile.

And your worst?

Time wastage.

What’s a hobby that’s been with you since childhood?

Anything to do with sports, including running, table tennis and swimming.

Would you time travel to the past or the future?

When and why?

Future. I’m always thrilled to experience tech developments.

What attributes do you value most in your team?

Collaboration.

Is there a talent you’d like to have but don’t?

Painting.

Looking ahead, Kenneth predicts that big data will continue to rise in importance in the banking sector, as will the dominance of digital tools. “These are and will remain two important enablers and will be transversally imperative for our business across operations, governance and HR,” he states. Moreover, Environmental, Social and Governance (ESG) priorities will also be an “overarching theme within our business, even beyond our core banking functions, so we’ll see significant traction in the suite of products we offer clients within the investment space, focusing more on ESG goals, which have a positive impact on our culture, society and natural environment,” he explains.

Coupled with this drive, the institution is currently going through a “dramatic transformation programme”. This consists of investment in its governance structure, the strengthening of its risk management capabilities and the prioritisation of sustainability, in terms of profit generation.

“This transformation will help secure the bank both for the benefit of the institution itself, and for its customers,” he insists, adding the motivation behind this push is BOV’s strategic importance to the island’s sound future. “We consider ourselves to be catalysts for the wider economy, and as pivotal to supporting Malta’s economic health,” he concludes.

What has been the greatest milestone in your career so far?

Moving from C to C: from clerk to CEO. WhatsApp – a useful tool or the bane of your existence?

Undoubtedly useful.

Do you focus best in complete silence, with background noise, or while listening to music?

Background noise, but I prefer silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Never stop chasing your dreams.

What is one skill you would like to develop in 2023?

Work-life balance.

History is repeating itself. True or false?

False, completely – there are new dynamics which are changing the world around us.

The world’s biggest priority right now should be…?

Climate and environmental risk.

If you could only focus on one project in 2023, what would it be?

Digitisation.

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CEO INSIGHT “We need to attract high-end tourism to Malta, rather than mass market. We have the attractions, location and climate to make ours a unique destination.”

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Simon Naudi

CEO, IHI PLC (CORINTHIA)

“ T H E M A LT E S E F L A G F LY I N G A B O V E O U R G L O B A L PROPERTIES IS A SOURCE OF PRIDE FOR US – AND S H O U L D B E F O R E V E R Y M A LT E S E P E R S O N . ”

I N 20 2 2 , CO R I N T H I A G R O U P C E L E B R AT E D 6 0 YE A R S O PE R AT I N G AT T H E VA N G UA R D O F T H E LO CA L H O S PI TA L I T Y I N D U ST RY. S I N C E I TS HUMBLE BEGINNINGS, THE BRAND HAS GONE FROM STRENGTH TO STRENGTH OWNING, DEVELOPING AND MANAGING A PLETHORA OF H I G H LY D I S T I N G U I S H E D P R O P E R T I E S I N S O M E O F T H E W O R L D ’ S M O S T LUXU R I O U S C I T Y A N D COA STA L D E ST I N AT I O N S .

most notably as the right-hand man to Founder and Chairman Alfred Pisani for many years. He took on numerous challenges, leading the company’s international hotel and real estate acquisitions and developments, before also being tasked with the responsibility of handling the brand and hotel operations in 2014.

It takes a certain kind of stamina, mindset and work ethic to successfully oversee a multinational hotel operation spanning 23 properties (and counting).

For Corinthia Group CEO Simon Naudi this typically translates into whirlwind weeks of meetings, emails and flights to all corners of the world. The challenges of the job are seemingly also its biggest perk, with Simon stating that encountering so many people from all walks of life and conducting business in diverse cultures remain the most rewarding aspects of his role.

“I feel a great responsibility as CEO to build on the tremendous success of the company’s 60-year legacy and to take our brand to all parts of the globe as a luxury hotel and real estate operator, developer and investor,” he says. “My varied background with the

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Corinthia Group has enjoyed many success stories along its 60-year history, and all are the result of hard work, tenacity and, above all, teamwork.

company has ensured my evolution has been that much more meaningful and effective. We have enjoyed many success stories along the way, and all are the result of hard work, tenacity and, above all, teamwork.”

Among Corinthia’s many successes is its rapid and ever-growing expansion into new global territories. The group’s London property, which is located just steps from Trafalgar Square and Whitehall, is arguably the jewel in its crown, with a reputation for hosting some of the world’s most celebrated artists and celebrities.

That said, the group also boasts many other well-established hotel properties located in highly sought-after city destinations such as Prague, St Petersburg, Lisbon and Budapest, among others. In 2022, the group opened a new Corinthia Yacht Club and Golf Club on the Pearl in Qatar, coinciding with the World Cup. The yacht club is the first of a series of projects including a hotel, beach club, residential villas and apartments being developed with the hotelier’s partners in Doha. Even more is to come with announcements for a constellation of new properties set to launch in New York, Rome, Brussels, Saudi Arabia and Bucharest.

“Our new projects are taking us into some of the world’s foremost destinations. In some, such as in Brussels, we are the owners and developers. In others, as with Rome and New York, we are developers and operators on behalf of partner investors. Truly, Corinthia as a brand is consolidating its place among the world’s best in highly visible cities and resorts,” he states.

As a home-grown hotel brand that’s done well overseas, Simon also recognises that Corinthia carries the torch for Maltese hospitality on the international stage.

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“We are proud of our Maltese roots. The Maltese flag flying above our global properties is a source of pride for us – and should be for every Maltese person. It also gives us tremendous pleasure when our younger Maltese colleagues take up the challenge to relocate overseas and adopt management roles alongside our international teams,” he says with genuine pride.

The fact that Corinthia has continued to plough forward with new developments in the face of two years of halted operations due to the pandemic is testament to the group’s strength and robustness. 2022 also saw the business contend with inflation, interest rate hikes, spiralling energy costs and more challenges.

Simon puts this resilience down to a hands-on senior team that acts with foresight to identify strategies for the medium and long term in terms of geography, diversification and positioning.

“Today, we are a leaner business certainly, and perhaps more focused than ever before. The difficulties of the pandemic have presented some benefits in that we’ve learnt to operate more efficiently. This we will retain.”

By many accounts, the local hospitality sector bounced back to pre-pandemic levels over the course of the last year. However, Simon advises prudence, explaining that the local industry should adequately address a medium- to long-term strategy to better future-proof its hospitality product: “Our Chairman Alfred Pisani has been very vocal about the need to attract high-end tourism to Malta, rather than mass market. We have the attractions, location and climate to make ours a unique destination, and we should build our tourism around our strongest assets rather than compete by offering cheaper prices than other Mediterranean resorts. In any case, there is a finite number of tourists the country can accommodate, as was shown by the recent MHRA report.”

To this end, Corinthia is also putting its own words into action through the development of the all-new Corinthia Oasis in Mellieha, which marks the group’s first major Malta development in some time. This Mediterranean-style, 162-key resort hotel is set to offer a suite-led mix over two distinct garden zones, one housing the low-rise hotel itself and another featuring highly luxurious water and garden suites complete with private decks opening onto a sprawling pool. The hotel is envisioned to become the island’s most extensive wellness facility along with a host of outdoor sports and leisure experiences that will be tailored to guest requirements.

“We are very much looking forward to creating a top resort at the Oasis, matching any of the finest in the Mediterranean, with a low-rise, highly landscaped development that draws its inspiration from all that is great about our islands. Offering bespoke, locally inspired hospitality experiences will continue to be the hallmark of luxury tourism and travel in Malta,” he says.

As the global hospitality industry continues to recover and evolve post-pandemic, 2023 will see Corinthia remain focused on completing its own recovery in its hotel portfolio, while looking ahead to the launch of new hotels on three continents.

“It’s a tall order to balance both fronts but we’re very much fired up to make this a success. Over the course of 2023, we will make it our priority to consolidate our position as a globally recognised hotel brand,” he concludes.

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Quick-fire Questions… with Simon Naudi What is your favourite part of the working day?

Early morning. It’s quiet and a good time to think and plan ahead.

Who do you most admire in the global business sphere?

Our Chairman Alfred Pisani – not only for his vision and energy, but the elegance with which he has handled the business.

When it comes to running your business, what is your best habit?

Hard work.

And your worst?

Taking on too much in one day.

What’s a hobby that’s been with you since childhood?

Reading up on politics and history.

Would you time travel to the past or the future?

When and why?

The future, definitely. Technology continues to make the world better every day.

What attributes do you value most in your team?

Precision and loyalty.

Is there a talent you’d like to have but don’t?

To be more diplomatic in sharing messages.

What has been the greatest milestone in your career so far?

Acquiring and building our London hotel.

WhatsApp – a useful tool or the bane of your existence?

Useful.

Do you focus best in complete silence, with background noise, or while listening to music?

I am lucky to be able to zone out no matter what is going on around me.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Push harder and don’t settle for compromise.

History is repeating itself. True or false?

Always, under different guises.

The world’s biggest priority right now should be…?

Accepting diversity.

MaltaCEOs 2023

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“I value my health, both physical and mental, and I’ve trained regularly and extensively to protect it.”

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Sean Cassar

FOUNDER AND MANAGING DIRECTOR, DESIGN HUB STORE AND ELEVIST WELLNESS CENTRE

“ H AVI N G B E E N A N E M PLOYE E , I B E CA M E EVE N MORE CONVINCED OF MY FUTURE ROLE AS A LEADER FOR THE TEAMS I ASPIRED TO BUILD.”

S E A N C A S S A R I S A N I N T E R I O R A N D E X T E R I O R S PA T I A L D E S I G N E R , BEST KNOWN AS THE MANAGING DIRECTOR OF DESIGN HUB STUDIO, WHICH HE FOUNDED IN 2014 . IN THE NINE YEARS HE HAS B E E N AT I TS H E L M , T H E STU D I O H A S WO N S EVE N AWA R D S , WI T H S E A N H I M S E L F R E C E I V I N G M A LT A ’ S B E S T Y O U N G E N T R E P R E N E U R A W A R D J U S T A Y E A R A F T E R S E T T I N G U P T H E C O M PA N Y .

Sean Cassar is a busy man, but not too busy to add two new ventures to his portfolio in 2022. Design Hub Store, a shop selling finishing materials for residential and commercial spaces, complements his primary business perfectly. Then, there is the wellness centre Elevist, which seems like an unusual choice for the designer.

Sean had an unconventional childhood, which had a lasting impact on his lifestyle and how he now manages his businesses. His father, one of the owners of the winery Marsovin, died at a relatively young age after a decade of ill health. This, more than anything else, opened Sean’s eyes to the importance of selfcare. “Elevist is a tribute to him,” Sean explains. “My philosophy is to enjoy life, but to also replenish and care for one’s body and mind at the same time.”

“I value my health, both physical and mental, and I’ve trained regularly and extensively to protect it,” he explains. “After years of using physiotherapy reformer as my exercise, I decided to open my own wellness centre.

I had also noticed that my colleagues were spending a lot of time driving around or sitting at their desks with bad posture, so I started recommending physiotherapy once a month. Now, they can do that at Elevist, among other therapies.”

Although he believes in balance, Sean is also a staunch advocate of structure and self-discipline, qualities he acquired from the boarding school he attended as a teenager. After years of begging his parents to allow him to attend military school, Sean was sent to a Jesuitrun boarding school in the north of England when he 115

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was 12. “It was almost military in style, with a strong emphasis on rugby, prayer and hard work,” he remembers. “That school broke me and rebuilt me into the man I am today.” Two decades later, Sean’s days are still planned with military precision.

hierarchical management, so I made a conscious decision to keep my companies small for now. I aspire to grow them slowly and organically with less risk of overstretching the companies or their staff.”

The CEO’s upbringing was also a masterclass in entrepreneurship and management. As a child, he often accompanied his father to work, playing and running around the Marsovin offices. “Even then, I learnt and understood the structures needed to run a company with multiple staff,” he remarks.

“With big institutions, you need a CEO and

The realisation that he wanted to nurture an alternative managerial style was further confirmed when, having returned to Malta in his early 20s to help his ailing father, Sean joined a boutique design firm. “They worked with big budget clients, using luxury finishes with great attention to detail, which was the ideal fit for me,” he recalls. “After having been an employee, I became even more convinced of my future role as a leader for the teams I aspired to build.”

Today, Design Hub and Elevist employ a team of 25 and, although he spearheads projects and oversees marketing and procuring new clients, Sean considers himself to be on the same level as everyone else. In fact, it is his inclusive nature that

I don’t want to lose sight of my values and attention to detail. If you have too much going on, quality standards slip towards mediocrity. Fortunately, my colleagues can jump in.

Having managers who are incentivised is vital.

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led to the opening of Design Hub Store. “Part of the reason I opened the Store was to have my own library of materials that my clients could see in person,” he explains. “But I also dreamt of having a space where other interior designers and architects – perhaps younger professionals, who might not have their own offices yet – could walk in with their clients and have these materials at their disposal to use creatively. The space itself is designed with that in mind, so there are multiple desks they can use.”

If there is a challenge that Sean constantly battles with, it is his drive to exceed his clients’ expectations without spreading himself – or his team – too thin. “I’m only one person, and my team is intentionally small to suit the type of jobs we do. I aim to take on a few projects a year that are big and creative enough for us to really enjoy them, stick to our deadlines and hold our clients’ hands,” he explains. “I don’t want to lose sight of my values and attention to detail. If you have too much going on, quality standards slip towards mediocrity.

Fortunately, my colleagues can jump in. Having managers who are incentivised is vital.”

While many businesses struggled during COVID-19, Design Hub Studio recorded its busiest period to date. As one of the leading office design and fit-out companies in Malta, demand for their services and materials was unaffected. Although the studio was never out of work, this period was nonetheless a very stressful one for Sean. “It was scary. At first, I wondered what the point of having more offices would be if everyone was working from home,” he admits. “I also worried that the influx of international companies to Malta would come to an abrupt end.”

Sean’s worries turned out to be unfounded, and new opportunities soon came his way. He evolved his designs in light of the pandemic, as larger companies were beginning to look ahead to when offices would need to be different to pre-pandemic times. “Remote working works to a certain extent, but not all the time. During the pandemic, some businesses still needed their employees to go into the office, and for companies with over 200 employees, the office needed to accommodate groups of workers coming in at different times of the week. Office spaces needed to be changed accordingly,” he explains. Sean and his team rose to the challenge by adapting their clients’ offices to their changing needs. Distance between workspaces became critical, as did separators between desks, as well as other elements that would protect every employee and make them feel comfortable and safe.

As he looks to the future, Sean hopes that his businesses will continue to grow. “My aim is for Design Hub Studio to take on all types of residential and commercial projects, execute them from beginning to end, and use the Store and all its materials to make that happen,” he concludes. “Of course, I will continue to promote physical and mental health through Elevist.”

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Quick-fire Questions… with Sean Cassar What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

My grandfathers: Joseph Cassar, who was CEO of Marsovin, and dentist and hotelier Anthony Demajo.

When it comes to running your business, what is your best habit?

Sticking to my commitments.

And your worst?

Being old school, not moving with the times faster.

What’s a hobby that’s been with you since childhood?

Sailing and painting.

Would you time travel to the past or the future?

When and why?

The 1960s, to grow my businesses faster than today.

What attributes do you value most in your team?

Commitment to the job and the family structure we have built together.

Is there a talent you’d like to have but don’t?

I’m appreciative of what I have.

What has been the greatest milestone in your career so far?

Managing more than one business.

WhatsApp – a useful tool or the bane of your existence?

A very useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Soft rock or Spanish guitar for creative work. Otherwise, complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Don’t be derailed by people’s opinions.

What is one skill you would like to develop in 2023?

Balance between mind, body and soul.

History is repeating itself. True or false?

False.

The world’s biggest priority right now should be…?

The environment and poverty.

If you could only focus on one project in 2023, what would it be?

Growing my businesses.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Harald Roesch

C EO, M E L I TA

“ R E L I A B I L I T Y I S A PR I O R I T Y.”

H A R A L D R O E S C H H A S B E E N T H E C EO O F M E L I TA S I N C E 20 1 6 , AT T H E H E L M O F T H E T E L E CO M S F I R M WH I C H B OA STS A 3 0 -YE A R H I STO RY I N D E L IVE R I N G C O M M U N I C A T I O N S A N D E N T E R T A I N M E N T S O L U T I O N S T O T H E I S L A N D . T O D AY , H E S T A N D S R E A D Y T O C O N T I N U E S T R E N G T H E N I N G T H E C O M PA N Y ’ S C U S T O M E R SERVICE, WIDENING CONNECTIVITY AND INVESTING IN THE INTERNET OF THINGS, AS WELL AS FULFILLING THE BUSINESS’ ESG GOALS.

Harald Roesch is a man who is constantly thinking ahead. He landed in Malta in 2016, having been appointed CEO of Melita – one of the island’s most recognisable brands – and he quickly got to work, setting the agenda, defining goals and ensuring the team had what it needed to reach its objectives. He knew the telecoms industry’s continually evolving nature and ensured the firm was able to keep introducing cutting-edge technology.

colour to TV,” Harald smiles – and, indeed, this was a landmark moment in Malta’s media history, for, before the early 1990s, there was a limited choice provided to audiences who, starved of variety, consumed Italian television in their hundreds of thousands – the only option they had available.

“We brought MTV to the islands,” he recalls, going on to explain the evolution of the company. “Over time, our business has changed substantially. Now, our focus is on connectivity. We still offer TV services, of course, and we’re market leaders here, but our most important services are now internet and mobile.”

“There’s always going to be an improvement in the quality and performance of the products we sell – but that is always going to be an imperative for this industry,” he says.

The decision to enter other product lines has served the company well. Today, Melita is the only company in Europe that is able to deliver Gigabit internet to

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“You must collaborate with others, which is one of the nicest parts of this job. However, being CEO also gives you the possibility to continually create something new.”

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What differentiates us from other telecom firms in Europe is our network.

This is why Malta remains at the top of the European league tables in terms of internet connectivity.

all households in the country within which it operates.

“Our technical assets are important, and this is what differentiates us from our competitors even on the continent,” he attests.

Indeed, as a result of this investment, Malta places well in studies on connectivity commissioned by international institutions. As a case in point, according to a recent report published by the European Commission entitled ‘Broadband Coverage in Europe in 2021’, Malta, as of June 2021, remained the only country to have recorded complete Fixed Wireless Access (FWA) coverage, as well as universal combined FTTP and DOCSIS 3.1 coverage.

Moreover, the island was the only European country to register universal coverage by broadband services capable of providing at least 1Gbps. “What differentiates us from other telecom firms in Europe is our network; and this is why Malta remains at the top of the European league tables in terms of internet connectivity,” he explains.

Another area of priority for the CEO is the firm’s invigorated focus on customer service. “This was not always the case with Melita, and we clearly don’t have a history to be proud of on this,” he states, frankly. However, Harald has poured a lot of energy into ensuring it was remedied. “We have improved the situation over the years to a level where we’re confident enough to say that our customer care service is among the best in Europe. It was not part of our historical DNA, but it’s become a core part of the identity of the company,” he explains. And, it seems many agree with him, for Melita has recently placed first runner-up for the Malta Business Award in Customer Care Service Excellence, given by the Malta Chamber of SMEs, together with Malta Enterprise.

Harald’s leadership expertise was honed across years building an international career. He started out working at the global management consulting firm McKinsey and Company, at their Italian office in Milan. This gave him, he says, “a good, solid background” in the skills he would later continue to develop. Following this stint, he was appointed CEO for various firms, including a German telecoms company called Kabel Baden Württemberg, which was vital in shaping his perspectives and vision.

Today, he sees his role as centred around his staff.

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of our Environmental, Social and Governance (ESG) commitments; 40 per cent of our management are women, and we want to expand that to make sure the workplace at Melita continues to improve,” he explains.

One of the most enjoyable aspects of his role is, indeed, the interaction necessary to achieve the company’s strategic goals. “You must collaborate with others, which is one of the nicest parts of this job. However, being CEO also gives you the possibility to continually create something new.”

Herein lies the challenge, of course, he admits. “This is an industry that is constantly changing. Think back 20 years, when the internet had just been created; now, it’s a fundamental part of our lives and the tech has evolved considerably,” he explains. Over the years, Harald has worked to contend with the demands of the sector, and, as a result, he has learnt the vital importance of emotional intelligence in managing teams. “I’ve spent years coming from the rational fold, so I’ve had to learn a lot of emotional skills and, now, I can say this is one of my strengths.”

Looking ahead, Harald insists that dependability will continue to be valued by the industry, and its customers.

“Reliability is a priority; in other words, you need to make sure you always have service and, if anything happens, we need to work fast to get it back,” he says, adding that the security and safety accorded by the projects will also remain highly prized, due to the rise of internet crime, so “customers need to be assisted and protected.”

Quick-fire Questions… with Harald Roesch What is your favourite part of the working day?

The morning.

Who do you most admire in the global business sphere?

I admire those who manage to achieve objectives while doing business, for instance Muhammad Yunus, the founder of Grameen Bank.

When it comes to running your business, what is your best habit?

Listening.

And your worst?

I’m very numbers focused and that can drive people crazy.

What’s a hobby that’s been with you since childhood?

Football.

Would you time travel to the past or the future?

When and why?

The future – it would be helpful to know what’s going to happen.

Over the next few months, the CEO hopes to make further progress on the company’s most important objectives, centred around the continual improvement of their customer service experience; the enhancement of their product line; expanding Melita’s Internet of Things project further overseas; as well as making more headway with their ESG priorities.

What attributes do you value most in your team?

An action-oriented attitude.

Is there a talent you’d like to have but don’t?

Playing a musical instrument.

What has been the greatest milestone in your career so far?

Achieving good quality customer service at Melita.

WhatsApp – a useful tool or the bane of your existence?

Useful.

“These are our four main objectives. With regards to our customer relationships, we’re always improving our systems to help us address any issue. In terms of the products we’re launching, one of our focus areas is home connectivity, and we’re intent on improving the Wi-Fi experience inside the home,” he explains.

Do you focus best in complete silence, with background noise, or while listening to music?

I can focus at any moment in time.

Melita is also committed to capitalising on its IoT investment. “Last year was a very important one in that we scaled up this part of our business and internationalised.

Indeed, today, 95 per cent of our IoT customers originate abroad, in Europe or the US. This year, we have a lot of exciting projects ahead with some big foreign clients; so, the objective for the next few months is to onboard between three and five international companies, who will use us for the IoT connectivity,” Harald states.

Finally, the CEO points to the firm’s dedication to key ESG goals, including the reduction of carbon emissions. “We want to build solar farms to generate the electricity needed by our network, to produce our own sustainable energy,” he concludes, underlining Melita’s commitment to futureproofing the industry, and the firm itself.

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What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Do what you enjoy but be prepared to work hard for it.

What is one skill you would like to develop in 2023?

That list would be too long.

History is repeating itself. True or false?

True, but there are challenges to apply what we’ve learnt.

The world’s biggest priority right now should be…?

The UN Sustainable Development Goals. Progress on these will go towards solving many of today’s problems.

If you could only focus on one project in 2023, what would it be?

Our Internet of Things project.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Cristina Casingena

CEO AND DIRECTOR, L I F E STA R INSURANCE PLC

“ W H A T I S A C O M PA N Y I F N O T F O R T H E PEOPLE WHO WORK THERE? ”

WITH HER INFECTIOUS SENSE OF CAUTIOUS AMBITION, CRISTINA CASINGENA I S O N CO U R S E TO ST E E R L I F E STA R I N S U R A N C E I N TO I TS N EXT C H A PT E R . T H E C E O D IVE S I N TO T H E C H A L L E N G E S A N D R EWA R D S O F H E R F I R ST FO U R YE A R S AT T H E H E L M , T H E N E E D TO D E M YST I F Y T H E I N S U R A N C E I N D U ST RY FO R T H E BENEFIT OF ALL CUSTOMERS, AND THE CHALLENGES – INCLUDING THE RISK O F A R E C E S S I O N – A N D O PP O RTU N I T I E S T H AT AWA I T I N 2 0 2 3 .

Cristina Casingena’s appointment as CEO of LifeStar Insurance plc came at a critical point for the company, which was undergoing a complete transformation following six decades in business, while paving the way for its future. It is abundantly clear that Cristina, who has a decorated career in financial services, does not shy away from a challenge.

Cristina’s recruitment efforts took place in tandem with the company’s restructuring. “Managing both of these significant changes was very challenging but, in the end, finalising the restructuring that culminated with the rebranding of the company was an incredible achievement, and we did it in less than four years,” says the CEO. “Even though the company was already in the market under different names for almost six decades, we feel that LifeStar Insurance progressed into a new era – with a new strategy, a new team and a new name.”

Taking the helm in 2018, she explains that one of the biggest and most pressing challenges she had to tackle upon taking on her new role was rebuilding the team.

“Finding skilled and competent professionals to join us was my first priority, and it was absolutely crucial to do so not only to establish the company’s strategy, but to implement it. Four years on, we have a very different team to the one I found when I joined – and really, what is a company if not for the people who work there? Building the team has been one of the most rewarding parts of my role so far.”

2022 was a strong year of business for the life insurance company, which saw the fruit of its hard work start to pay off.

“In 2022, we recorded an increase of over 250 per cent on the premium income for our retirement product compared to 2021. This was an important achievement for us and, 122

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“Giving up control is not easy, but it is necessary.

I sometimes have to remind myself that I work in a team, and the only way to achieve our goals is together. We cannot work alone.”

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Everybody’s most important assets are their health and their life – and this should encourage us to see insurance, especially

while we expected to see a good performance in this area, we weren’t expecting this level of growth,” says Cristina.

“All our unit-linked business registered important and steady growth in 2022, and this took place during an extremely volatile year for the financial market. The life insurance business is highly dependent on investment income, and maintaining our assets at the right level at such an unstable time was challenging. However, it also created opportunities for investment, and some of our clients took the chance to do so at a lower price, which is one of the reasons why unit-linked business has been successful in 2022.”

The past 12 months also saw the continuation of major projects implemented in 2021, one of which was the company’s digitalisation process, driven by COVID-19 and the spike in demand for online services, as well as the company’s goal for sustainable products and processes.

“Our digitalisation strategy has practically eliminated a long and cumbersome paper trail for the front office, and made the onboarding process faster and easier for our clients and for our sales team. We also made significant cost savings on printed materials,” she explains. “As a result, the company can now boast of more efficient, cost-effective and sustainable processes which are also the foundation for further enhancements planned in the future.”

In the same year, another bold step was taken to secure the company’s long-term future. LifeStar Holding plc listed its subsidiary, LifeStar Insurance, on the Malta Stock Exchange. This move, the CEO explains, was an important

life insurance, differently.

strategy for the company, which will require investments and financial support to grow. By going public, the company has also increased its visibility and made it more known to the market.

“I believe there is a need to explain the technicalities of the insurance business, which not many people know about. Insurance is widely regarded as a necessary evil but, actually, it is an important financial tool for each and every one of us,” says Cristina. “We are all getting older and our priorities change during our lifetime, but insurance can help us in the face of such change. It can also be used as a valuable tool for companies as an employee benefit, which may support their efforts to attract and retain their top talent.”

Taking a broader look at Malta’s insurance market, Cristina believes this too is experiencing a transformation, particularly following COVID-19 and the many changes it forced upon the industry. “The pandemic has changed the way we do business. But, with that said, I believe more needs to be done by the industry to find a better way to communicate with customers, using less technical jargon and promoting our products in an engaging way.”

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She admits this is no easy feat – insurance is technical in nature, and, moreover, it forces us to address subjects, such as our own mortality, which most prefer to avoid. “The discourse around life insurance is seen as negative, so it is up to us to convey the message positively, because really and truly, everybody’s most important assets are their health and their life – and this should encourage us to see insurance, especially life insurance, differently. It is up to the insurance providers to communicate this.”

Quick-fire Questions… with Cristina Casingena What is your favourite part of the working day?

The morning, when having my coffee and planning my day.

On a personal note, Cristina admits her role is also changing as her priorities as CEO begin to shift. Back in 2018, she was immersed in LifeStar’s operational transformation, but today, she feels ready to take a step back to focus more on the company’s strategy and opportunities for growth, both locally and internationally.

Who do you most admire in the global business sphere?

Young entrepreneurs who take risks and make their dreams come true.

When it comes to running your business, what is your best habit?

I believe every problem has a solution. So, with this mentality, anything is possible.

“Leadership means empowering people and giving them the space to grow. The time has come for me to hand over more control to my team, allow them to take decisions and make their mistakes too, because everybody needs this experience to grow,” she asserts. “Giving up control is not easy, but it is necessary. I sometimes have to remind myself that I work in a team, and the only way to achieve our goals is together. We cannot work alone.”

And your worst?

I can be very direct.

What’s a hobby that’s been with you since childhood?

My love for swimming.

Would you time travel to the past or the future? When and why?

To the future, because I’m always looking ahead.

What attributes do you value most in your team?

Honesty.

Looking ahead to the next 12 months, Cristina shares her outlook for 2023, and highlights that the biggest worry on many business leaders’ minds is also her own – the risk of a recession. “Nobody knows when this will happen, it could be this year or in 2024. But certainly, it will translate into a lower available income for our clients, and life insurance tends to be low on their priority list,” the CEO explains.

Is there a talent you’d like to have but don’t?

I would have loved to be able to paint – it’s rewarding and relaxing.

What has been the greatest milestone in your career so far?

My current role as CEO. WhatsApp – a useful tool or the bane of your existence?

A very useful tool.

To this end, she reasserts the need for insurance companies to be creative and effective in their communication with clients, “to convince them that their health and lives are their most important assets. Also, inflation is rising, which poses problems for existing customers as, when they have an immediate need for cash, the first resource is their life insurance. We need to be in touch with the customers and find different ways to help them deal with the financial challenges of the time.”

Do you focus best in complete silence, with background noise, or while listening to music?

I work best under pressure, so I can focus anywhere.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

My degree in pure maths instilled a scientific approach. I would have encouraged myself to explore my artistic side more.

What is one skill you would like to develop in 2023?

Speaking Maltese – I’ve been living here for 18 years, and I should dare to try.

This year will not be without its fair share of opportunities, however. Cristina shares that the company will be leveraging its digitalisation processes and looking at new distribution channels to complement its online presence. In addition to a variety of exciting plans that the CEO cannot share as yet, she believes 2023 will see a greater effort being made to demystify the industry. “We will focus on providing simple products that are easily understood by the market, that can be bought online, and that can be accessed easily by clients to meet their insurance goals.”

History is repeating itself. True or false?

Unfortunately, true.

The world’s biggest priority right now should be…?

Sustainability. We need to do better and think about the future, not just about today.

If you could only focus on one project in 2023, what would it be?

Professionally speaking, to make insurance more personalised.

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Arthur Gerada

C E O , H E A LT H C A R E L O G I S T I C S LT D

“ W H I L E I T M AY S U I T S O M E L E A D E R S T O A LW AY S B E I N T H E D R I V I N G S E A T , I P R E F E R T O I N V O LV E E A C H T E A M M E M B E R . ”

W I T H O V E R 1 5 Y E A R S ’ E X P E R I E N C E I N T H E H E A LT H I T D O M A I N , A N D I N B O T H T H E P U B L I C A N D P R I V A T E S E C T O R S , W H A T P R O P E L S H E A LT H C A R E L O G I S T I C S LT D C E O A R T H U R G E R A D A I S T H E D R I V E T O M A K E A D I F F E R E N C E T O PA T I E N T S ’ W E L L - B E I N G A N D C O N T I N U I T Y O F C A R E . H E AC H I EVE S T H I S WH I L E P U S H I N G FO R I N N OVAT I O N , B OT H I N H I S T E A M AND IN THE PRODUCTS AND SERVICES THEY OFFER.

Prior to joining Healthcare Logistics Ltd, Arthur Gerada occupied the role of Chief Information Officer for the Ministry of Health. Yet, despite his impressive trajectory within the sector, working in healthcare wasn’t what he initially set out to do.

exceptional mentors who started me off in the field, and to whom I am very grateful.” He also highlights the launch of myHealth in 2012 – a system which gives patients access to their health records in electronic form – as a treasured milestone in his journey. Earning the team behind it Best eGovernment Initiative Award that same year, Arthur reveals, “a decade down the line, I still strongly believe in this concept.”

“My family are all involved in healthcare, so I was the black sheep when I decided to take a different route and go into IT,” he smiles. “Then, in 2007, I applied for a CIO post within the Government, without having any idea where I would be assigned. Funnily enough, it was the Ministry of Health!”

However, after a number of years, new ideas and opportunities motivated him to shift back to the private sector. Today, as CEO of Healthcare Logistics Ltd, Arthur says that no two days are the same, and he’s not complaining.

Despite this, it didn’t take him long to appreciate how intriguing, complex and far-reaching IT can be in the health and elderly-care domain. “I consider my years in the Ministry as my baptism of fire in the sector – I had

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C E O I N S I G H TTHE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS “I believe that remote working is a gamechanger for small organisations, since it helps boost productivity, increases employee retention and offers a better work-life balance.”

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I am an advocate for lifelong learning, and firmly believe that there is no innovation without learning.

“We can’t deliver top-class service without the most valuable asset of our organisation: our highly skilled team members,” Arthur continues, describing his team as a dynamic one made up of experts in different fields. “It is the way we work together that drives me to work more and deliver more for the organisation. I value the qualities of each individual and, while it might suit some leaders to always be in the driving seat, I tend to prefer the approach whereby each team member is involved and given the responsibility and authority to lead their respective area, as well as question my ideas and present their own. In this way, it is the team that is leading the company.”

organisations and organisations geared for active ageing.

It originally started as a local support organisation for a major health IT vendor, at a time when the Government planned to implement major critical systems required to run the new state-of-the-art Mater Dei Hospital.

Meanwhile, within today’s ever-changing technology space, Arthur believes it is also imperative that team members stay relevant, noting, “I am an advocate for lifelong learning, and firmly believe that there is no innovation without learning. That is why we try to foster continuous professional development.”

“Since then, Healthcare Logistics’ reach has widened considerably, but the primary focus has remained that of offering solutions and services to support optimal patient care. Obviously, in the constantly evolving technological sphere, our adaptive approach is paramount to making sure we remain relevant in this business vertical,” Arthur says.

And on Arthur’s watch, this development is multidimensional. “We employ a highly specialised team of professionals made up of clinicians, medical lab specialists, pharmacists, IT and management consultants, and with such a diverse and flexible skillset and their accumulated knowledge, I have no doubt that our resources are the cornerstone of our business,” he explains, adding that, since joining, his mission has been to push these resources out of their comfort zone.

As CEO, he affirms, “quality and flexibility are two very important characteristics of whatever we do.” Shouldering the responsibility of the impact their work has on others, the challenge is always to remain competitive and deliver value, he says, which in turn helps the company’s clients provide a positive experience and the best possible outcomes to their customers.

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“As a leader, my target was to change the mindset of the team in order to do something different and offer something better to the local and international communities. As Peter Drucker states, ‘if you want something new you have to stop doing something old,’” he shares, adding that the pandemic also played a part in shaping this mindset.

Quick-fire Questions… with Arthur Gerada

“Over the last few years, we have started investing and offering our own suite of products and services that are primarily focused on the healthcare, elderly and disability sectors. We are now at the stage where we are deploying our flagship products within the local market,” he smiles, revealing that their roadmap includes the option to extend the use of such products and services abroad.

What is your favourite part of the working day?

Early morning, when my mind is fresh.

Who do you most admire in the global business sphere?

Richard Branson.

When it comes to running the business, what is your best habit?

Perseverance.

Another shift helped along by the pandemic has seen the company fully embrace remote working practices. “Within Healthcare Logistics, remote working was always possible – in fact, it is ingrained in all the services we offer, including a 24-hour support service to hospitals and clinics. However, prior to the pandemic, we never went down the route of permanent remote working. Today, I believe that remote working is a game-changer for small organisations, since it helps boost productivity, increases employee retention, and offers a better work-life balance,” the CEO states.

And your worst?

To try to fit the impossible into 24 hours.

What’s a hobby that’s been with you since childhood?

Dismantling and reassembling items to see how they work.

Would you time travel to the past or the future? When and why?

The past. I am intrigued by Egyptology, and the ancient Egyptians’ exceptional mathematical and engineering skills.

What attributes do you value most in your team?

Flexibility, skill diversity, synergism, empathy, and the fact that they are always ready to take on new challenges.

“Ultimately, we need to realise that employee location is not a determinant in the value or quality of their work,” Arthur continues, adding, “the other facet of this is that in order to retain valuable talent, we had to take a bolder step, and we now have employees working across continents – including in Africa, North America and Europe. Ultimately, this new hybrid model provides both employees and the organisation with the stability, social cohesion, identity and belonging irrespective of whether they are working remotely, on premises, or a mix of both.”

Is there a talent you’d like to have but don’t?

Watercolour painting.

What has been the greatest milestone in your career so far?

Life is a journey. Every stage is an important milestone, since it leads to the next.

WhatsApp – a useful tool or the bane of your existence?

It’s a tool like any other, and all tools, if used wrongly, can become the bane of one’s existence.

Do you focus best in complete silence, with background noise, or while listening to music?

I try to adapt.

Looking ahead, the CEO says his primary impetus will definitely involve further team development – that will include strengthening the remote working team and the infrastructure to support it – which will in turn help to sustain product development plans and help kickstart new product implementation.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Never stress over what you can’t control.

What is one skill you would like to develop in 2023?

Woodworking.

“This year will definitely be a challenging one after all this investment, but it will also be exciting. Our primary plan is to keep on consolidating our efforts and invest further in our product suite with the aim of surpassing client expectations,” Arthur continues. This will not come without its challenges, he notes, chief among which is the retention and attraction of quality team members, as well as organisational growthrelated challenges.

History is repeating itself. True or false?

False. Situations may have a parallel, but each period tells a different story.

The world’s biggest priority right now should be…?

Addressing disinformation.

If you could only focus on one project in 2023, what would it be?

Emerging technology R&D – anything that is related to AI or machine learning.

Ultimately, however, the CEO’s outlook is positive: “This is a game, and we constantly need to innovate and be agile to ensure that we are on the leading end.”

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CEO INSIGHT “These days, I spend more time finding new talent than telling my employees what to do. I get immense satisfaction from sitting in a meeting and being taught something new by my team. My biggest challenge, as well as my measure of success, is finding the best people to work with every day.”

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Ammar Soltan

FOUNDER AND CEO, EEETWELL

“ F O O D I S T H E S I N G L E B I G G E S T C H O I C E W E M A K E E V E R Y D AY T H A T N O T O N LY I M PA C T S O U R L I F E S T Y L E A N D B O D I E S B U T ALSO THE WORLD AROUND US .”

A M M A R S O LT A N A R R I V E D I N M A LT A F R O M L I B YA O N A O N E -W AY T R I P WITH €100 TO HIS NAME. SINCE THEN, HE HAS GONE FROM HAULING BAGS OF CEMENT ON CONSTRUCTION SITES TO LEADING EEETWELL , THE I N T E R N A T I O N A L H E A LT H F O O D B R A N D H E C R E A T E D I N 2 0 1 5 .

When he arrived in Malta at the age of 19, Ammar Soltan had nothing more than a plan and fierce determination to succeed. Upon his arrival, he rented a room, bought enough supplies to get by for a month, and got a job in the construction industry.

niche and create something from scratch. But, most importantly, I realised that the connection you forge with your team is the most important aspect of any business,” he shares. “Then, in 2015, I had the idea of launching the first eeetwell in Paceville. I, quite literally, built it brick by brick and mixed the first smoothie myself, so that particular outlet remains very close to my heart.”

“I carried bricks and cement, and it was there that I became determined to build something bigger,” he recalls. “I saved money and waited for the right moment to start creating small businesses, but I also remained heavily involved in construction. I wanted to work my way up the ladder through start-ups.”

In the eight years since then, eeetwell has become synonymous with healthy, sustainable food that works hand in hand with local communities. There are now 23 outlets across Malta, Belgium, Italy and the United Arab Emirates. Ammar and his team have won over Maltese customers by working closely with local farmers and using seasonal produce, highlighting local ingredients and being present at Maltese events to bring local

The success of his fledgling companies offered Ammar invaluable insight into what sets ordinary businesses apart from successful ones. “I learnt how to find a 131

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I learnt how to find a niche and create something from scratch.

But, most importantly, I realised that the connection you forge with your team is the most important aspect of any business. products directly to customers. “Our clientele has become increasingly interested in the ingredients we use and where we source them from, in the macronutrients they provide, and in whether the food is a superfood or processed,” says Ammar.

In response to this interest, eeetwell provides calorific and other nutritional information about its products. “I believe in empowering our customers and it’s wonderful to see them so interested in understanding their food and the value that additional knowledge about it can bring,” says Ammar, whose passion for fostering healthier eating habits is matched by his commitment to sustainability.

Like all successful entrepreneurs, Ammar recognises the importance of surrounding himself with people who bring to the table talents he does not have. “I feel deeply connected to a quote by Steve Jobs that says that it doesn’t make sense to hire smart people and tell them what to do. Instead, hire smart people so they can tell us what to do. At eeetwell, I’m building a team that’s like family to me, and with a large family come some hiccups,” he shares. “However, I want everyone to feel that they can come to me with any issue they may be facing, whether personal or work-related. I’m not an expert in my team members’ respective domains, but I am an expert in solving issues quickly, and I’m always ready to help.”

“Food is the single biggest choice we make every day that not only impacts our lifestyle and bodies but also the world around us,” says the entrepreneur. “By choosing a diet that includes sustainably sourced, healthy and seasonal food, we are taking action for the benefit of our health and our planet.” In their effort to be as environmentally friendly as possible, Ammar and his team meet with local farmers to discuss which products are in season; then, they brainstorm with their chefs in each country to create dishes that maximise nutrition while leaving as minimal a carbon footprint as possible.

Ammar finds great satisfaction in seeing his team grow and be proactive. “These days, I spend more time finding new talent than telling my employees what to do. I get immense satisfaction from sitting in a meeting and 132

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being taught something new by my team,” he admits.

“My biggest challenge, as well as my measure of success, is finding the best people to work with every day.”

Although time for his personal life is limited, Ammar feels it is a sacrifice worth making. There have been many moments he is now proud of, like having his first customer try eeetwell’s recipes back in 2015, making the first profit after one year, onboarding the first franchisee in 2018, and opening the first outlet abroad in Belgium a year later. “Eventually, we opened our first outlet at The Dubai Mall, which is the world’s biggest shopping centre and is located near the world’s tallest building, the Burj Khalifa,” he remarks. “If there ever was a location to match our ambitions, this was it!”

However, not even a thriving business like Ammar’s could dodge the challenges brought on by the pandemic and the subsequent curveballs in 2022. “Put simply, we have learnt a lot. Like many, we were faced with very tough decisions that impacted not just the business but also the people we work with and their families. However, I’m delighted to say we kept all our staff,” says Ammar.

“One week before the pandemic struck, we started work on our Belgian store but had to completely shut down after one week. It was extremely difficult on us, but we stepped up to the challenge and came up with new ideas and operational strategies. A few weeks later, we were back on the market stronger than ever, even reaching the top spot on a food delivery app in Belgium.”

The past couple of years have also affected the way Ammar approaches his role and how eeetwell operates.

“I’ve learnt not to take anything for granted and that we should appreciate what we have, especially the people around us and the time we can spend with them,” he shares. “Since the pandemic, we have also rethought our shops’ layout. The five new outlets that we opened during this time are more driven towards delivery and pick-up so as to maintain a physical distance while still giving our clients access to undeniably fresh food.”

Although eeetwell has expanded from a single outlet in Paceville to many more all over Malta and in Milan, Antwerp and Dubai, Ammar has his sights set further afield. “We receive requests to open franchises all over Europe and other continents, and we have big plans for the future,” he says. “I have always had a global vision for the brand but, as we expand, our key philosophy is localisation on an international scale. We saw during COVID-19 that relying on imported products limits your business, so now we work with local producers, chefs and marketing teams to create a micro circular economy in each country.”

Adapting their menus to the tastes and products of each location is a big challenge as eeetwell grows, but Ammar only sees opportunity where others see obstacles. “I want eeetwell to become the leading health food franchise in central Europe. But most of all, I want to change the way people think about food,” he concludes.

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Quick-fire Questions… with Ammar Soltan What is your favourite part of the working day?

The morning, when I speak to my team.

Who do you most admire in the global business sphere?

Businesses that stick to their vision despite expanding.

When it comes to running your business, what is your best habit?

Human interaction, always.

And your worst?

Spreading myself too thin.

What’s a hobby that’s been with you since childhood?

Making people laugh.

Would you time travel to the past or the future?

When and why?

No, I wouldn’t – I love my life as it is!

What attributes do you value most in your team?

Energy and positivity.

Is there a talent you’d like to have but don’t?

Infinite patience.

What has been the greatest milestone in your career so far?

Opening our Belgian outlet.

WhatsApp – a useful tool or the bane of your existence?

A useful tool, but it can drive me crazy!

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Surround yourself with successful people you can learn from.

What is one skill you would like to develop in 2023?

Delegation.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Caring about each other.

If you could only focus on one project in 2023, what would it be? eeetwell… and plans have already been laid out!

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “Long-term plans don’t work anymore.”

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Alona Andruk

FOUNDER AND CEO, T A K E O F F LT D

“ O N E D AY Y O U L E A D , A N O T H E R D AY A D I F F E R E N T T E A M M E M B E R L E A D S ; B U T E V E R Y O N E A LW AY S W O R K S T O G E T H E R . ”

A L O N A A N D R U K , F O U N D E R A N D C E O O F T A K E O F F LT D , W A S A N O LY M P I C C Y C L I S T B E F O R E S H E S T A R T E D H E R E N T R E P R E N E U R I A L J O U R N E Y . A N D , A LT H O U G H H E R T W O C A R E E R S M I G H T S E E M V E R Y D I F F E R E N T, T H EY H AVE M O R E I N CO M M O N T H A N M E E TS T H E EYE .

Professional cycling and leading a thriving company might appear to be very different, but Alona Andruk’s first career as an athlete taught her many skills that she has carried on to her role as CEO of Take Off.

there are thousands of variables, which I love,” she says.

“Although cycling looks like an individual sport, it taught me how to be a team player. One day you lead, another day a different team member leads; but everyone always works together.”

“I was a professional cyclist for years and determination is a quality that helped me both in that career and in this one,” she shares. “I’m very methodical and consistent, and like to work on something until I get it right. In sport, you have to repeat the same movements thousands of times before you’re really good at them, and I bring that same focus to my role in business today.”

Alona retired from professional cycling at the peak of her career after she began to feel restricted and emotionally exhausted from doing the same thing repeatedly. “I have always been very curious and have an inclination towards business, so I read a lot about it,” she says. “I quit cycling without even having a plan, knowing that I would find something to do. As I started to search for an opportunity, I began interviewing my friends about their interests outside sports, including a friend of mine who was working in the fashion industry.”

Voted Young Entrepreneur of the Year in 2022, Alona has already achieved a lot, but becoming a leader hasn’t been easy for her. A self-confessed introvert, she admits that working with a large group of people can be challenging – while the sportswoman in her thrives on challenges.

“In sports you’re limited to one discipline, but in business

Her curiosity led her down a rabbit hole about the fashion industry, circular economy, and what happened to unsold 135

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clothes at the end of each season. The fact that 100 billion items of clothing are produced every year with only half of them sold left an impression on her. “When I saw the warehouses full of discarded clothing, I knew this was the opportunity I was looking for,” she shares. “So I spoke with potential clients to understand what they needed and found a gap of unrealised revenue for the companies, which would also serve a different type of client. I started with Ukraine since, having been born there, it was easier to understand the language and culture.”

What Take Off does is buy unsold inventory from wellreputed clothing brands, create master data, repackage it if the packaging is damaged, relabel it and shoot it in a professional photography studio. It is then redistributed to new countries where it can be sold at a price that is more affordable in that territory. “We now have an algorithm which helps our company understand where to sell, to whom, at which price and in which priority,” says Alona.

“Most importantly, we are an omnichannel company because we sell online and offline, covering all B2B channels.”

Take Off now has close to 50 employees but, for the first three years, Alona ran the show single-handedly, outsourcing most of the work. “Choosing my first six employees in 2018 was the most difficult thing but also an important landmark for me. We have learned everything together and kept growing from there,” she shares.

Another memorable landmark was getting the company’s first Enterprise Resource Planning (ERP) system set up.

This fully integrated software system enables Alona and her colleagues to manage their vast inventory. “We started this project in 2018, but it was only during the COVID-19 pandemic that we found the time to implement it. It was a very demanding project because of the sheer amount of items, but thanks to it, we could go global. In fact, Take Off now distributes to 35 countries.”

In this respect, the pandemic period led to very positive results for the Take Off team, with a 25 per cent turnover increase when compared to the previous year. This was further surpassed in 2021 and 2022, with a 50 per cent increase and 30 per cent increase respectively.

The implementation of the software system also enabled Alona to shift from operational work to a more strategic position. She admits that taking on the role of CEO wasn’t easy for her. “It took me forever to transition to a CEO position and think about strategy,” she shares. “You tend to be very protective when you build a company from scratch, and giving control over to other people is hard.

But I started letting go of some roles over the years with good results. It was a struggle not only to find the right people, but also to give them the creative freedom to express themselves.”

You tend to be very protective when you build a company from scratch.

Giving control over to other people is hard.

Take Off currently uses third-party logistics (TPL) warehouses to store its millions of items. But one of the projects in the pipeline is to build its own, tailored to its needs and run by its own employees. “We are also very 136

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excited about an AI project we kicked off last year,” says Alona. “We originally developed our algorithm in-house because it’s very particular to our business but are now implementing AI, which will make it much more automated and self-learning.”

Like most other companies, Take Off was affected by the events of the past two years. Although the COVID-19 pandemic presented its own obstacles, what followed was an even bigger blow to Alona and her company. Not only did the conflict in her native Ukraine disrupt the company’s main markets, but it was also upsetting on a human level. “It was very hard because many of our employees are Ukrainian, 10 of whom work in our office in Kyiv. At first we were hit financially, and then emotionally,” Alona confides. “For a few months we couldn’t understand what was happening, but the whole situation ultimately gave me the motivation to do something. When things are calm, I tend to be a bit complacent, but when COVID-19 hit and then this war started, I went into survival mode and tapped into my creativity.”

Quick-fire Questions… with Alona Andruk What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

Any business with a social impact.

When it comes to running your business, what is your best habit?

Discipline and consistency.

And your worst?

I find it hard to be assertive in an aggressive way.

What’s a hobby that’s been with you since childhood?

Reading and travelling.

Since the beginning of the Ukrainian invasion, Take Off has added 30 new customers from different countries, and now that Ukrainians are back at work and trying to live as normal a life as possible in the circumstances, Take Off has started to sell there again in smaller amounts. “It has been a tough year, but it really showed us how resilient our business is and has taught our team the importance of being agile and able to change strategy when needed, even if it is on a weekly basis.”

Would you time travel to the past or the future?

When and why?

Back to when I was a child, for personal reasons.

What attributes do you value most in your team?

Honesty and willingness to grow.

Is there a talent you’d like to have but don’t?

Public speaking.

What has been the greatest milestone in your career so far?

Reaching 50 employees and having reduced 24 million pieces of unsold fashion from the market.

In fact, the CEO says long-term plans don’t work anymore, and recent events in her native country forced her to look at her role as a leader in a different light. “At a certain point, it wasn’t just about business anymore. Once we had good cash flow, I had to turn my attention to other, more human, problems. I felt I had to protect my employees and, although it almost felt intrusive, I had to try and convince them to leave our city because it had become too dangerous. Being far from the conflict zone made it easier to see things clearly and make decisions.”

WhatsApp – a useful tool or the bane of your existence?

A useful tool, absolutely.

Do you focus best in complete silence, with background noise, or while listening to music?

I can concentrate anywhere.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

To try out any idea I have, learn to fail fast, and start all over again.

Digitalisation lies at the heart of Take Off’s efforts to reduce the impact of the fashion industry on the environment, but Alona and her colleagues also like to get their hands dirty. In Malta, they collaborate with Hal Far Outreach and Nature Trust Malta, and they do the same with other NGOs in Italy and Ukraine. Although people are increasingly aware of the importance of sustainability, Alona insists that a lot more needs to be done. “Governments should educate people about the true cost of fast fashion and that it is much better to buy one good-quality item than it is to buy 10 which will be thrown away after a couple of seasons,” she concludes.

What is one skill you would like to develop in 2023?

Public speaking.

History is repeating itself. True or false?

True, but we have to learn to recognise it because it never repeats itself in the same way.

The world’s biggest priority right now should be…?

Peace and sustainable development.

If you could only focus on one project in 2023, what would it be?

Artificial intelligence.

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Mark Mallia

CEO, I D E N T I T Y M A LT A AGENCY

“ H AVI N G A M OT IVAT E D WO R K FO R C E I S C R U C I A L .”

MARK MALLIA HAS GONE FROM SERVING AS DEPUTY COMMANDER OF T H E A R M E D F O R C E S O F M A LT A T O L E A D I N G I D E N T I T Y M A LT A A G E N C Y . T H E R O L E M AY B E D I F F E R E N T , B U T H I S C O M M I T M E N T T O M O T I V A T I N G T H O S E AROUND HIM AND INSTILLING THE BELIEF NECESSARY TO REACH THE H I G H E ST P O S S I B L E PE R FO R M A N C E STA N DA R D S R E M A I N S T H E S A M E .

When looking for somebody to run an organisation with military precision, Mark Mallia is the man for the role. Before he was appointed CEO of Identity Malta in January 2022, he had already served 25 years in the Armed Forces of Malta (AFM), most recently as Deputy Commander – a military career that equipped him with a wealth of management experience. A graduate of the Royal Military Academy at Sandhurst, he was already leading a team of 40 as a 20-year-old officer. Later, he would head the AFM’s human resources branch and serve as senior aide-de-camp to the President of Malta, managing many national events in his five years in the role.

The CEO’s work ethos also reveals his military background. “My guiding principle is to strive for excellence,” he says. “I always reiterate that we should all give 100 per cent and put in extra effort to achieve the best results possible. I set high performance standards and am never satisfied with less than that.

I try to instil this in all my team members because I strongly believe in accountability and respect towards others. That is why I endeavour to demonstrate these principles myself, for others to follow.”

Mark’s background has also equipped him with a desire to support and assist those around him. Asked about his landmark career moments, he highlights the successful coordination of several L-Istrina events, as well as concluding a sectoral agreement which saw the largest-ever pay increase for AFM members. “More than 1,800 uniformed members and their families benefitted from a substantial rise in their take-home pay,” he explains. “It made a big difference in their lives.”

“Without a doubt, these experiences taught me how to understand people’s needs, how to balance teams so as to achieve our intended goals, how to listen to concerns and address them without sacrificing momentum, and how to get people on board,” Mark says. “No man is an island, and a leader can only ever be as successful as their team. Having a motivated workforce is crucial.”

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CEO INSIGHT “I always reiterate that we should all give 100 per cent and put in extra effort to achieve the best results possible. I set high performance standards and am never satisfied with less than that. I try to instil this in all my team members.”

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I visited every office and explained our situation and what we should do to succeed. I discussed plans for the way forward, and I asked them to own it. When changes to the original plan were needed, we made them together, as a team.

So, while the nature of the job may have changed, the parts that Mark finds most enjoyable come as no surprise. “I like witnessing satisfied clients,” he says.

“Whenever we provide a service that meets – or, even better, exceeds – our clients’ expectations, it fills me with great satisfaction. Leading and motivating our workforce is also something I continue to cherish in my managerial positions.”

These priorities served Mark very well as he transitioned into his first year as CEO of Identity Malta, the Government’s umbrella agency for passports, visas, identity cards, residency documents, public deed registration and other matters relating to identity. “Every Maltese citizen and resident will, at some point, use one or more of Identity Malta’s services, beginning right away with the registration of their birth,” he says. “As CEO, I have to drive the agency towards reaching our intended goals, ensuring we provide excellent customer service without jeopardising the security of our citizens’ and residents’ identity.”

Identity Malta was established in 2013 and, in the years before Mark joined the agency, it had relocated several of its services to new, modern, accessible facilities in Msida and Marsa. It had also opened a new office at Mater Dei Hospital to facilitate birth and death registrations. What’s more, it was also transitioning from the slow, paper-based procedures of the past to faster and more efficient digital platforms, offering the public access to services online.

“Thanks to these investments, Identity Malta has managed to simplify many processes, but not at the expense of security checks and verifications,” Mark explains. “These technological advancements are reflected in the highly secure documents we provide, such as passports, identity cards and residence permits, as well as the high level of security assurance we have received both locally and at an EU level.”

When Mark was appointed CEO in January 2022, Malta was slowly emerging from the uncertainty of the pandemic and there was a clear sense that demand for the agency’s services, including passports and visas, would soon spike. When it came, 140

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that demand was overwhelming. “People started planning journeys abroad once again, and many realised that their passports had expired or were about to expire,” Mark recalls.

“The number of clients we served from April to August was unprecedented and we had to shift our operations to meet that demand.”

Dealing with the situation required urgent hiring and training of new staff and close collaboration with the Ministry for Foreign and European Affairs and Trade, diplomatic missions abroad and other stakeholders. “I visited every office and explained our situation and what we should do to succeed.

I discussed plans for the way forward, and I asked them to own it. When changes to the original plan were needed, we made them together, as a team,” Mark says. “For me, seeing the backlog and pressure cleared, and the satisfaction in our employees’ eyes, was invaluable.”

With those challenges successfully behind him, Mark’s sights are now set on the road ahead. First on the agenda is the conclusion of a three-year plan, extending to 2023, to innovate and simplify existing work practices by eliminating unnecessary bureaucracy and inefficiency. “While the agency is leading digital transformation and expanding the number of services available online, its main goal is to deliver a highquality public service while maintaining the value of face-toface customer interaction,” Mark explains.

Additional exciting developments are on the way in the form of new advancements in identity security. In fact, Identity Malta recently commissioned and installed state-of-the-art biometric collection equipment at the Expatriates Unit and Passport Office, enabling a faster and more effective process.

“Since this biometric data is of a superior quality, such that errors are almost non-existent, the system has reduced queues and waiting times,” Mark explains. “These devices will be particularly important when we conduct an identity card release in 2024, as the cards issued when Identity Malta was first established will expire at that time. The new devices will help us tremendously.”

Meanwhile, plans to centralise the agency’s operations in Gozo into a new one-stop shop are already at an advanced stage. Discussions are also underway to further integrate online systems with other relevant stakeholders, as well as to digitise more of the agency’s services. “We need to make our services more efficient and less bureaucratic, but we will be likewise sending a strong message that those who attempt to abuse the system will be caught and will face the consequences at law,” Mark says. “We are here to ensure we meet our clients’ needs in the least possible time, but not at the risk of lining anyone’s pockets.”

Mark is also keen to stress that, for all the vital investments taking place, the change he is after must also come from within, and it is one he is eager to spearhead. “I intend to nurture a more positive work culture at Identity Malta, to keep motivating our employees and promote better job performance,” he says. “I have always strived to create a team that works not because they must, or because they fear their leader, but out of respect and belief in the intended plan, goals and objectives.”

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Quick-fire Questions… with Mark Mallia What is your favourite part of the working day?

Morning. Always fired up and ready for what the day has to offer.

Who do you most admire in the global business sphere?

Sir Alex Ferguson.

When it comes to running your organisation, what is your best habit?

Managing time effectively and respecting others.

And your worst?

Being a perfectionist.

What’s a hobby that’s been with you since childhood?

Football.

Would you time travel to the past or the future?

When and why?

Back to being aide-de-camp to the President. We were such a great team.

What attributes do you value most in your team?

Loyalty and honesty.

Is there a talent you’d like to have but don’t?

Manual work.

What has been the greatest milestone in your career so far?

Coordinating the largest-ever pay increase for AFM members.

WhatsApp – a useful tool or the bane of your existence?

It takes up most of my working day!

Do you focus best in complete silence, with background noise, or while listening to music?

Silence, but I enjoy music too.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Be bolder and more entrepreneurial.

What is one skill you would like to develop in 2023?

Spending more time with our employees.

History is repeating itself. True or false?

False. The world is evolving rapidly.

The world’s biggest priority right now should be…?

Fostering work ethic and core values among Generations Z and Alpha.

If you could only focus on one project in 2023, what would it be?

Providing excellent service to customers.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Christian Sammut

CEO, BMIT TECHNOLOGIES

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

A S A L E A D I N G CO - LO CAT I O N , C LO U D A N D M A N AG E D S E R VI C E S PROVIDER, BMIT TECHNOLOGIES DEVELOPS INTELLIGENT AND SECURE INFRASTRUCTURE SOLUTIONS, HELPING BUSINESSES REACH THEIR F U L L P OT E N T I A L BY H A R N E S S I N G I N N OVAT IVE T E C H N O LO G I E S .

CHRISTIAN SAMMUT LEADS BMIT ’S TEAM OF EXPERTS , WHO GUIDE B U S I N E S S E S TOWA R D S B E S P O K E S O LUT I O N S T H AT P OWE R T H E I R F U T U R E A S PA R T O F A D Y N A M I C A N D D E M A N D I N G C O R P O R A T E L A N D S C A P E – A N D A N E V E R - E V O LV I N G T E C H N O L O G I C A L W O R L D .

For Christian Sammut, a lifelong passion to create and build has shaped who he is – and what he does – today.

While his love of design and architecture inspired his original ambition to pursue a career as an architect, changes in direction towards engineering and then into business administration set him on a different course.

then-MITTS (Malta Information Technology and Training Services Ltd), the Government’s in-house ICT agency.

Christian then joined Maltacom Group to set up Innovate Ltd in 2001, developing a state-of-the-art data centre facility. He later moved to GO plc where he held various positions, including Chief of Strategy and Business Development. And, when GO plc took on BMIT as its subsidiary, he became its CEO.

With a degree in engineering from the University of Malta and a Master’s in Business Administration from Brunel University under his belt, Christian began his career with the Dowty Group on an assignment overseas within the aerospace industry. His first foray into IT infrastructure services and data centre management followed in 1992, with a position at the

“I have been CEO at BMIT for over a decade now, since 2011,” he says. “In that time, I’ve seen it grow from a small organisation serving a specific industry, into something far larger that serves many different organisations from 142

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CEO INSIGHT “Technology develops and evolves at an unprecedented rate.

And, with change comes disruption – sometimes when you least expect it.”

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a variety of sectors. By bringing tech to both large and small enterprises, our own company has grown in the process. And, as part of that journey, I have also enjoyed accelerating the pace of technology adoption at BMIT – sometimes with tech that is still new to the market – and making it available to customers.”

The CEO’s ever-present focus on the future has also catalysed several milestone moments for the organisation over the years. “In 2012, we were proud to launch the first public cloud platform in Malta,” he recalls.

“Another hugely satisfying landmark was the listing of BMIT Technologies on the Malta Stock Exchange in 2019, bringing to fruition years of hard work following a clear strategy to grow our core business, make key strategic investments and continue attracting expert technical resources.”

Hard work, meanwhile, is very much at the core of Christian’s own work ethos and his leadership approach with the BMIT team. “When I think of the role of CEO, there are all sorts of different types; some are more commercially focused, while others have a more entrepreneurial flair,” he says. “I don’t fit into any category. I consider my role to be that of leader, mentor, motivator and friend to my team and colleagues. I try to be honest, loyal, dedicated, hardworking and, more than anything else, passionate about what I do – and I expect a similar work ethic from everyone on the team.”

With these values in place, employee empowerment is high on his agenda. “Something that satisfies me as CEO is that I am in a position to help shape people’s futures, giving them opportunities to learn, grow, advance their careers and enjoy their job,” he shares. “Yet, despite the opportunities available, there are still the few who aren’t interested in taking them. It is a frustrating but necessary part of the role.”

In fact, grasping opportunities – and helping clients do the same – has been a key ingredient in BMIT’s ongoing success story. The product of two already-successful organisations, BMIT Ltd and Kinetix IT Solutions Ltd, BMIT Technologies has always had a clear objective: to make harnessing the power of technology simpler and more accessible for businesses. Via its team of highly specialised professionals – who collectively offer a diverse range of expertise from technology to business strategy and innovation – BMIT develops intelligent and secure infrastructure solutions designed to optimise operations, simplify processes, improve efficiency and enhance customer engagement.

Something that satisfies me as CEO is that I am in a position to help shape people’s futures, giving them opportunities to learn, grow, advance their

“BMIT began as a data centre, primarily as a hosting provider for the gaming industry when it took off in the early 2000s,” explains Christian. “As a Malta-based data centre, we could add real value, especially to businesses with regulatory requirements to hold data locally.” In 2009, GO acquired 60 per cent of the company and then full ownership in 2011, before BMIT’s listing on the Malta Stock Exchange. “Over the years, the company has embarked on a journey of change, introducing cloud services and embracing other emerging technologies.

careers and enjoy their job.

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No other local IT services provider has such a strong legacy. Today, we proudly deliver our services to customers across industries, including online gaming, financial services, ICT, manufacturing, media, transportation, retail and hospitality. We serve as a platform and partner as businesses seek to improve their organisation and embark on their own transformation.”

Quick-fire Questions… with Christian Sammut

In keeping with BMIT’s openness to the needs of the changing world, Christian foresees that its future will include further expansion into the digital services space.

Indeed, the company continues to assist customers with their own digital transformation, following the technological curveball of the COVID-19 pandemic.

What is your favourite part of the working day?

Early morning when I have my first coffee.

“Even before the pandemic hit, we were technologically ready to help offices and their employees with a secure, remote facility for customers to host systems and data.

Throughout 2022, the drive to go digital post-COVID-19 has continued, as people have realised that IT is an integral part of strategy, not just to better serve their customers but also to operate efficiently,” he shares. “COVID-19 also increased demand for some solutions we provide – but, when it comes to managing human capital, tech can only help so far. Our role as a trusted advisor has become even more important, with many customers turning to us to help them along this journey.”

While the limited availability of sector-specific human resources also impacts BMIT, fresh challenges, including escalating costs and economic uncertainty, create major issues with supply chains, bouncing delivery times up from days to months. “We have focused on rebuilding relationships with clients in the B2B environment, with the help of the drive, optimism, energy and dedication of all employees. Nevertheless, I anticipate a few more turbulent years ahead, so we’re continuously looking at how to adapt to this new reality.”

It is a “new reality” across the IT sector that is in constant flux. “Technology develops and evolves at an unprecedented rate. And, with change comes disruption – sometimes when you least expect it, which can become taxing for organisations. Apart from the digital transformation, AI is becoming more mainstream, built into processes both at work and at home so that governments will soon have little choice but to transform their economies into digitally enabled ones, signalling huge scope for IT solutions providers. At BMIT, we’ve already embraced the shift towards AI by partnering with a local AI provider to develop related products and services.”

While enlarging BMIT’s footprint both locally and internationally with new services and acquisitions, Christian has a firm plan in place for the company in 2023 and beyond. “We have been working on the strategy for our next evolution, which will focus on the continuous drive towards cloud services, remote platforms, AI, new tech and the ever-critical need for cybersecurity. We are always seeking to add value for our customers, wherever they are based, while investing in infrastructure and strengthening our legacy as a leader in the sector,” reaffirms the CEO.

Who do you most admire in the global business sphere?

No one in particular!

When it comes to running your business, what is your best habit?

Enjoying what I do and having a passionate and energised team.

And your worst?

I tend to overthink at times.

What’s a hobby that’s been with you since childhood?

I love drawing and painting; the pandemic helped reactivate that.

Would you time travel to the past or the future?

When and why?

Neither – we are all on a journey that has a beginning and an end.

What attributes do you value most in your team?

Dedication, pride and love for the company.

Is there a talent you’d like to have but don’t?

Singing.

What has been the greatest milestone in your career so far?

BMIT’s listing on the Malta Stock Exchange.

WhatsApp – a useful tool or the bane of your existence?

A tool – and a pain!

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

To persevere and pursue architecture – my passion for it is still strong.

What is one skill you would like to develop in 2023?

Controlling my evening food cravings.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

A complete reset: economically, socially… every aspect.

If you could only focus on one project in 2023, what would it be?

Putting BMIT on track for continuous and sustainable growth.

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O INSIGHT

“When I’m home I try not to think about work, which is not an easy task! It is about managing my schedule between work, home and study. I try to find time for my passions as well, such as travelling and family breaks – a healthy lifestyle needs all.”

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Kenneth Brincat

C E O , M A LT A D I G I T A L I N N OVAT I O N AUTHORITY (MDIA)

“ T E C H N O L O G Y I S F A S T - PA C E D – A N D I T C A N N O T W A I T . ”

E S T A B L I S H E D I N 2 0 1 8 , T H E M A LT A D I G I T A L I N N O V A T I O N A U T H O R I T Y ( M D I A ) PR O M OT E S A N D R E G U L AT E S I N N OVAT IVE T E C H N O LO G I E S , E N CO U R AG I N G T H E I R U PTA K E WH I L E PR OT ECT I N G A N D S U PP O RT I N G U S E R S . A S C EO S I N C E O CTO B E R 20 2 1 , K E N N E T H B R I N CAT L E A D S T H I S S T R A T E G I C E N T I T Y , E N S U R I N G T H A T M A LT A ’ S I N N O V A T I V E T E C H N O L O G Y A R R A N G E M E N T R EG U L ATO RY F R A M EWO R K CO N T I N U E S TO M E E T T H E D E M A N D S O F U S E R S , R E L AT E D S ECTO R S , I N T E R N AT I O N A L STA N DA R D S , E M E R G I N G R E G U L A T I O N S A N D R A P I D LY A D V A N C I N G T E C H N O L O G Y .

When Kenneth Brincat took the helm at Malta’s main strategic entity on technology, the Malta Digital Innovation Authority (MDIA), the digital world was entering a new era. By October 2021, Malta was several waves into the COVID-19 pandemic – an event that history books will remember for its monumental impact on technology. That same month, Kenneth began his new role at the MDIA eager to address the sector’s extraordinary challenges and opportunities.

in a different sector, however, meant new challenges.”

Channelling his more than 18 years of experience in operations, management and projects, Kenneth set about building upon the significant success the MDIA had already achieved. Bringing to the table a passion for learning, he had already gained a Master of Science Degree in Human Resources and Training from the UK’s University of Leicester. Now, he is continuing his studies via a Doctorate in Business Administration. “Attaining a doctorate has been on my bucket list ever since I completed my Master’s degree in 2007, and I aim to complete it by the end of 2023,” he says. “I didn’t pursue it earlier due to family commitments, but now that my son is older, my schedule is more accommodating. My goal is to finish it before he starts his GCSEs.”

“It was a shift from my previous role, moving from one public sector entity to another,” recalls Kenneth, speaking of his more than three years as COO at the Malta Business Registry before his move to the MDIA. “It was a smooth transition, as many consider the role of COO as comparable to that of CEO in terms of visibility. Working 147

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COVID-19 has sped up digital transformation, increasing the need for tech assurance. Businesses now prioritise cybersecurity as prevention rather than cure.

Between his threefold responsibilities of CEO, student and family life, Kenneth must also master the art of time management and work-life balance. “When I’m home I try not to think about work, which is not an easy task!” he exclaims. “It is about managing my schedule between work, home and study. I try to find time for my passions as well, such as travelling and family breaks – a healthy lifestyle needs all.”

Time efficiency, meanwhile, is also central to his leadership approach at the MDIA. “My work ethos revolves around reliability, taking the initiative, and working diligently and consistently. I try to instil these traits in the MDIA team – and our latest HR Award shows that such values are in place,” shares Kenneth, pointing to the prestigious HR Quality Mark the Authority received from the Foundation for Human Resources Development (FHRD). “As CEO, I make tactical decisions and execute them, but one of the challenges is knowing how to step back and let go, empowering others to contribute, grow and innovate.”

Innovation is a crucial part of the Authority’s remit, which powers its ongoing success as a pioneer in technological assurance, helping shore up Malta’s Innovative Technology Arrangement regulatory framework against the ever-changing tide of the sector. “Aside from the HR Award, in my first year as CEO, the MDIA won the national call for the eDIH proposals,” he recalls. “Malta ranked an impressive sixth place in the 2022 edition of the EU’s Digital Economy and Society Index (DESI), with several MDIA-realised projects on national AI strategy, AI scholarships and AI research grants contributing to this milestone. The 2023 result should improve on it, with other MDIA projects designed to close the digital divide.”

Born of the Malta Digital Innovation Authority Act and the Innovative Technology Arrangements and Services Act in 2018, the MDIA has excelled in a few short years in its dual role as both local regulator and promotor of innovative technology. Through the launch of various initiatives, it encourages the uptake of new technologies, supporting users throughout the process. However, its responsibility does not end there. The Authority then trailblazes the regulation of these newly deployed solutions, ensuring they comply with recognised standards via its certification programme and providing technological assurance to stakeholders from investors to developers, and businesses to the public.

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Meanwhile, as the primary Government entity focusing on technology, the MDIA promotes Malta as a centre of excellence for technological innovation, merging local compliance with international obligations. As the first Authority of its kind worldwide to certify technology and provide a regulatory framework, the MDIA also sets the standard for the digital future. “To attract investment, every country wants to be the ‘first’ – however, being the first does not make you the best,” remarks Kenneth.

“Others have rushed to dominate in this area, but their haste has resulted in having to take a damaging regulatory U-turn later.

Malta, by comparison, has had a diligent and robust regulatory framework from day one. We have been intuitive enough to regulate technology alone – growing, promoting and facilitating it beforehand. Malta had the vision to create a forward-looking legislative tool that is adaptable and flexible to whatever the evolving market requires and to new tech as it emerges.

Technology is fast-paced – and it cannot wait. With technical assurance, a Cybersecurity Act already in place, and an AI Act under discussion at EU level, the nation has a level of readiness that is fundamental for attracting investment.”

Two key projects that were launched or further developed in 2022 have also helped the MDIA solidify its position as a leader in the global tech market. “In June, we launched the updated version of the MDIA’s new flagship utility, the MDIA-TAS (Technology Assurance Sandbox),” explains Kenneth. “Designed with start-ups and smaller players in mind, it guides solution owners throughout a residency of, at most, two years, as they gradually align their solution with established control objectives based on international standards. The Sandbox enables these companies to test concepts in a safe environment to reduce the overall risk.”

Another project, announced in December 2022, invites Maltese e-commerce platforms to take an assessment by tech experts.

“In the ‘Mind the Gap’ project, a platform can conduct a selfassessment, and technology experts then identify any gaps relating to security or privacy, for example,” elaborates Kenneth.

“Tech.mt plans to also launch a funding scheme in early 2023 to assist platforms that would like to address these gaps – offering peace of mind for customers.” Also in 2022, the MDIA kickstarted its three-year strategic plan for the sector, closing in 2025, and secured funds for Malta’s European Digital Innovation Hub (EDIH), which the MDIA will manage and in which SMEs and entrepreneurs can find the facilities to test before they invest.

With global events in 2022 spurring cost increases, amid continuing component shortages and challenges related to COVID-19, Kenneth foresees a push across the sector towards sustainability and Environmental, Social and Governance (ESG) goals in 2023. Likewise, inspired by the pandemic’s tech revolution, he predicts that the rise of AI may yet include natural language advancement, alongside increased uptake of blockchain. At the MDIA, he means to capitalise on these opportunities, while addressing the digital gap at a grassroots level. “COVID-19 has sped up digital transformation, increasing the need for tech assurance. Businesses now prioritise cybersecurity as prevention rather than cure. Through 2023, our drive at the MDIA is to become one of the most important Governmental entities in Malta and a national focal point for innovative technology,” the CEO concludes.

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Quick-fire Questions… with Kenneth Brincat What is your favourite part of the working day?

My first coffee.

Who do you most admire in the global business sphere?

Bill Gates.

When it comes to running your organisation, what is your best habit?

Communicating effectively.

And your worst?

Single-tasking – I need focus.

What’s a hobby that’s been with you since childhood?

Football. I used to play it and I support Inter Milan FC. Would you time travel to the past or the future?

When and why?

Neither! What’s done is done, and not knowing the future provides motivation.

What attributes do you value most in your team?

When they support each other.

Is there a talent you’d like to have but don’t?

Playing a musical instrument, like the guitar.

What has been the greatest milestone in your career so far?

Becoming CEO – but I believe my biggest milestone is yet to come.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Pursue technology as a career.

What is one skill you would like to develop in 2023?

Emotional intelligence.

History is repeating itself. True or false?

False.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

To finish my Doctorate in Business Administration.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jacob Appel

CEO, BINDERR

“ C R E AT I N G S O M E T H I N G O UT O F N OT H I N G – T H AT ’ S WH AT I LOVE ! ”

E STA B L I S H E D T WO YE A R S AG O, B I N D E R R U S E S I N N OVAT IVE S O F T WA R E T EC H N O LO G Y I N I TS D R IVE TO H E L P CO R P O R AT E S E R VI C E PR OVI D E R S D I G I TA L I S E T H E I R B U S I N E S S A N D B ECO M E M O R E E F F I C I E N T. AT T H E STA RT- U P ’ S H E L M , C EO JACO B A PPE L I S R E A DY TO P O S I T I O N B I N D E R R AT THE SECTOR’ S FOREFRONT.

to neighbouring countries, such as Cyprus,” he says.

However, in doing so, teething problems started to appear and Jacob admits that the technology was not up to par.

Jacob Appel’s story is one of persistence. Having dropped out of university in Denmark 15 years ago, where he had been studying law, Jacob moved to Malta with his sights set on the iGaming industry. He swiftly found a position heading a fledgling poker business with “high ambitions” – as he puts it – which, perhaps due to its overreach, folded soon thereafter.

“It had taken me between five and six years to set up Time To Eat in Malta, and I soon realised I’d need the same amount of time in Cyprus – a market where we were playing catch-up with other competitors,” he explains. Faced with these challenges, and with money having run out in Cyprus, Jacob decided to sell the Malta outfit when the opportunity arose.

“That was a huge learning curve, on a personal level,” Jacob admits. Yet, despite finding himself at a loose end, Jacob had no intention of returning home. He had fallen in love with Malta and everything the island has to offer. Armed with nothing but steadfast intent, Jacob, together with a compatriot, decided to import a muchloved concept from back home. Thus, the popular food delivery app, Time To Eat, was born in Malta.

In the meantime, Vambo Laud, the founder of Taxify in Malta, a ride-hailing service first established in Estonia in 2013, approached Jacob to invest in the company.

Those were the business’ early days and it would later become known as Bolt. Initially, Jacob turned down the offer. However, over the years, he witnessed the

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CEO INSIGHT “To create something truly impactful you need to master consistency and patience while still having a sense of urgency.”

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Our goal is to help corporate service providers across Europe to become more efficient.

company go from strength to strength. Realising its potential, he partnered with Vambo, and, together, they built the Cypriot and Tunisian arm of Bolt from the ground up, which became very profitable.

“There was then the opportunity to acquire the licence for Malta,” he recalls, “which led us to launching Bolt Food in January 2020. From the get-go, the demand was overwhelming. In fact, it took us less than a week to reach 1,000 orders per day – a milestone that took five years to achieve with Time To Eat!” Bolt Food in Malta was the international firm’s most successful franchise. And, like many ambitious leaders before him, Jacob was geared towards expansion. He wanted to spread the brand to as many countries as possible. Unfortunately, though, head office was not on the same page, which meant that the only route available was to “maintain the status quo and continue cruising”. Brimming with ambition, this option did not interest Jacob – so, when the option to get out for an undisclosed figure arose, he did so.

Jacob and his team realised from conversations with dozens of accounting firms, that were also corporate service providers (CSPs), that the greater opportunity was in building a solution that would streamline and consolidate corporate transactions. They teamed up with a well-known CSP locally, who then helped build what Binderr is today. “Since then, we’ve created a unique platform that centralises all corporate functions, such as shareholder changes or company name amendments. Simply put, we’ve automated the entire system and laid the foundation for an emerging industry – Corptech. We’ve integrated our platform with the Malta Business Registry; all data is present and up to date. Rather than needing to consult an auditor or CSP to set up a company, change involved parties, or make other business alterations, our app transforms this process into one that takes seconds,” Jacob explains.

At the same time, Jacob had already embarked on a parallel endeavour. While leading Bolt, he had also founded Binderr, a software app that was created in 2020 to help self-employed workers calculate and submit their taxes. “To begin with, Binderr was an accounting platform, so we invested €1.5 million to develop it further. However, we soon realised that we’d need hundreds of thousands of subscribers to turn a profit, which would require scaling to a level that is simply impossible in Europe due to our diverse taxation systems.”

“Our goal is to help corporate service providers across Europe to become more efficient,” the CEO continues.

“Usually, tech firms focus on anti-money laundering and Know-Your-Client (KYC) processes. However, we’re narrowly focused on changes in the registry. For example, completing a share transfer should be as easy as sending money from bank to bank. Yet, traditionally, it’s been really complex and time-consuming, with paperwork having to be drafted, sent for signatures, then returned, scanned, and so on. That takes time. On the contrary, Binderr saves time.”

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In this regard, the firm also works closely with CSPs to understand their operational and business pain points, and to comprehend the most common tasks they complete on behalf of their clients. “Then, we automate those processes,” Jacob says. Citing the example of a company annual return, he explains that the paperwork usually “needs to be filled out manually, then signed and filed with the MBR. This costs the client a lot of money, takes time away from the CSP, and yet brings no value to anyone. So, these are precisely the kinds of processes we aim to simplify.”

Quick-fire Questions… with Jacob Appel What is your favourite part of the working day?

Early morning deep-work sessions.

The team at Binderr, so far, is small: a crew of 15, with 10 working remotely and five in Malta. Jacob believes the timing is right, which, more than anything else, determines whether an enterprise can be successful or not. “It feels as if it’s the right time for us,” he smiles.

“I’m really proud of our team. We’ve managed to do a good job keeping everyone excited and motivated, and we believe in the direction we’re heading. Above all, I’m incredibly proud of our staff’s tenacity.”

Who do you most admire in the global business sphere?

I’m inspired by thought leaders.

When it comes to running your business, what is your best habit?

Consistency.

And your worst?

Patience is my strength, but also my enemy.

Jacob’s ability to pivot and not get waylaid by setbacks has been his driving force and will continue to spur the company to further growth. “Something amazing always emerges through failure,” he laughs. “You need to feel comfortable changing the goalposts and continuously trying the next thing.” Indeed, this steadfast sense of creativity and optimism motivates Jacob to keep trying. “Creating something out of nothing – that’s what I love! I hope that, with Binderr, we can continue to go from strength to strength.”

What’s a hobby that’s been with you since childhood?

I don’t have one.

Would you time travel to the past or the future?

When and why?

The past – to be more grateful for what I have today.

What attributes do you value most in your team?

Their good hearts and do-what-it-takes attitude.

Is there a talent you’d like to have but don’t?

I wish I’d learned to code at a young age.

Looking ahead, the CEO is driven by two main goals.

“We want to become the leading voice in corporate technology (Corptech) by continuing to develop innovative solutions for our customers. The second aim is to lead the company to become profitable by the end of 2023. We are self-funded, so I want to witness a visible trajectory towards profitability.”

What has been the greatest milestone in your career so far?

An eight-figure exit from Bolt.

WhatsApp – a useful tool or the bane of your existence?

A useful tool, for sure.

Do you focus best in complete silence, with background noise, or while listening to music?

While listening to trance music.

Jacob believes that these objectives are achievable.

“If you look at the companies that need our solutions, they’re going to require increased digital capabilities, and they will embrace automation to a greater degree over the next few years. There is also the move, on behalf of the authorities, towards greater compliance and governance. That’s not going to change. So, the winds are definitely blowing in our favour. This will continue to be the case as more and more CSPs understand that they can shift operations towards attracting more business instead of wasting time on processes that can be automated by our platform,” Jacob insists.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Compounding effects are legit. And, don’t worry – things tend to work out.

What is one skill you would like to develop in 2023?

Longer deep-work sessions.

History is repeating itself. True or false?

100 per cent true.

The world’s biggest priority right now should be…?

Our climate.

On a personal level, Jacob is determined to help evolve the business into an organism that can thrive on its own. “I hope to remain a big part of it, drive its direction and have influence over Binderr’s vision well into the future,” he smiles.

If you could only focus on one project in 2023, what would it be?

To position Binderr as the leading player in Corptech.

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“You may have great individual musicians, but if you want a great sound overall, you need to make sure they’re all working together, which takes a lot of negotiation and effort.”

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Javier Moreno Gonzalez CEO, MAPFRE MIDDLESEA

“ I K E E P L E A R N I N G – E V E R Y S I N G L E D AY . ”

J A V I E R M O R E N O G O N Z A L E Z A R R I V E D I N M A LT A I N 2 0 2 1 T O L E A D T H E L A R G E S T I N S U R A N C E C O M PA N Y O N T H E I S L A N D . W I T H A N ENTIRE CAREER IN THE FIELD TO BACK HIM UP, IT IS NO SURPRISE T H A T H E H A S T A K E N T O T H E C H A L L E N G E S O S M O O T H LY . A N D I N T H E R E C E N T PE R I O D O F G LO B A L U PH E AVA LS A N D U N C E RTA I N T Y, H I S EXPE R I E N C E A N D CO M M I T M E N T TO C L I E N T- C E N T R E D O PE R AT I O N S H AVE PR OVE N TO B E M O R E C R U C I A L T H A N EVE R B E FO R E .

Insurance is, by Javier Moreno Gonzalez’s own admission, an industry the public tends not to view as particularly exciting. But his own take on his role as CEO of MAPFRE Middlesea is hardly a dull one. “I feel like an orchestra conductor,” he says. “You may have great individual musicians, but if you want a great sound overall, you need to make sure they’re all working together, which takes a lot of negotiation and effort. That’s how I feel most days. It can be stressful, but it’s also very exciting.”

travelling and working extensively across Europe, the US, and South and Central American countries where MAPFRE has a presence.

“I’ve been very lucky,” he says of the journey so far.

“I’ve been able to gradually increase my skills and responsibilities, continuously learning more about different areas of the business. Now, the role I have in Malta allows me to keep learning every single day. It’s an experience I feel extremely passionate about because I’ve found an incredible company and team in a small but extraordinary country. I love being here.”

Javier has been in his current role since arriving in Malta in April 2021. He first joined MAPFRE in 2000 in his native Spain and forged his professional career within the multinational group. Starting at the group’s HQ and assuming his first Chief Officer position in his early 30s, Javier later transitioned into the international arena,

True to his description of himself as an orchestra conductor, Javier most enjoys the opportunity his role gives him to interact with different departments to find 155

We have very clear values in the MAPFRE group. Integrity, honesty, the vocation to serve, the commitment to all our stakeholders: these values define the way we act and the way I approach my work. with total autonomy yet with the full support of the international group behind the scenes.”

While Javier is proud of the company’s status as market leader, he is keen to stress that there is never any guarantee of retaining that position unless the company continues to provide the best service. “Our responsibility is even greater than that of other insurers,” he says.

“Every year, the market is becoming more mature and demanding. While this evolution is healthy, we need to be aware of it because you’d be hard-pressed to find too many bad insurers in this market. Our competitors are very good, and I have a lot of respect for them.”

solutions to problems together. “I don’t enjoy routine,” he says. “I prefer dealing with situations actively, by analysing what’s happening, developing projects and following up on things in the company. I always want to be involved and proactive.”

Away from work, Javier enjoys the very social sport of padel, and similarly at the office, his preferred approach to leadership is collaborative, with “open, passionate discussions” preceding any major decisions.

“We have very clear values in the MAPFRE group,” he adds. “Integrity, honesty, the vocation to serve, the commitment to all our stakeholders: these values define the way we act and the way I approach my work.”

With this clear drive to avoid resting on its laurels, MAPFRE Middlesea recently embarked on a threeyear strategy, with a triple emphasis on digitalisation, customer focus and operational efficiency. For Javier, the mission is clear. “We want to ensure our customers are at the centre of our activities,” he explains. “That’s easy to say but much less easy to execute. We also want to transform our processes and gain efficiency.

It’s not an easy or quick process, but we expect our effort and investment in digitalisation and increasing the company’s agility to eventually be recognised and rewarded by our customers.”

When Javier took up his role in 2021, he joined a company that was already a long-established leader in the Maltese market. Middlesea had just celebrated its 40th anniversary, having been set up in 1981 and then combined with MAPFRE in 2011 as part of the latter’s international expansion. “We blend the best of both worlds,” Javier explains. “We are preserving the expertise and knowledge of the Maltese market, which comes from our people here, while also taking advantage of other experiences and best practices that come from outside Malta. As a result, we can develop an independent company, focusing on our market

That said, 2022 was not a period of plain sailing, given the challenges posed to businesses across the board.

“What we predicted as a company a year or two ago is not happening exactly as envisaged,” Javier says. “We expected stronger economic activity and moderate inflation, yet we now also have very high global uncertainty. We are part of the real economy, so 156

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global challenges such as energy prices and cost-of-living increases also affect us. We’re making great efforts to minimise the impact on our clients, but you can’t avoid it completely. It’s something that’s already affecting all insurers.”

MAPFRE Middlesea’s response to these challenges has been measured: maintaining the essence of its threeyear strategy while slowing down the execution of some projects to prepare the company to be more agile and better able to face sudden changes. “On the positive side, I think the current situation has provided us with an opportunity to demonstrate once again that we are very resilient and able to serve our clients and distributors with the highest-quality service.”

Quick-fire Questions… with Javier Moreno Gonzalez What is your favourite part of the working day?

When I first arrive and prepare to face the day.

Who do you most admire in the global business sphere?

MAPFRE CEO Antonio Huertas and all entrepreneurs who create something new.

When looking to the future, Javier is cautious. He acknowledges that insurance is by its very nature a conservative business where change comes slowly.

Moreover, with the turbulence of the past year, the road ahead is particularly hard to predict. He expects the industry will continue growing at a moderate pace, albeit highly conditioned by economic developments. “For us specifically, we see particular opportunities to increase the comprehensiveness of our offering to clients,” he adds.

“We’re working to provide them with the best solution using a global approach, not simply by considering any one single product, but rather through our relationship with the client as a whole.”

When it comes to running your business, what is your best habit?

Being collaborative in my decision making.

And your worst?

Impatience.

What’s a hobby that’s been with you since childhood?

Mountain biking.

Would you time travel to the past or the future?

When and why?

The past: everything we do has roots in history.

New products are also being developed, with the recent launch of a specific insurance policy for electric vehicles – the first of its kind on the market and a signal of what Javier describes as a commitment to long-term sustainability. “We were the first to launch the EV policy because we believe we need to tackle this situation,” he says. “But all stakeholders need to work together to make this a reality. Apart from fiscal support, which is fantastic, we need to prepare infrastructure, as well as support for repairs and maintenance. From the insurance side, we’re ready, and we intend on continuing to support all new developments.”

What attributes do you value most in your team?

Professionalism, honesty, commitment and teamwork.

Is there a talent you’d like to have but don’t?

I’d like to be a better public speaker.

What has been the greatest milestone in your career so far?

The greatest milestone is always the last one, so my position in Malta.

WhatsApp – a useful tool or the bane of your existence?

Useful tool.

The company’s commitment to sustainability is also taking root in its participation in the Maltese ESG Alliance (MESGA), a collaboration involving 13 large companies aimed at developing ESG initiatives. “We want to support each other in developing individual and collective projects to genuinely bring about positive change. It’s something we felt we needed to contribute to and something that’s going to be important for Malta’s development.”

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Never stop learning and think for yourself.

What is one skill you would like to develop in 2023?

Learning Maltese.

Looking ahead, Javier sees 2023 as a year for the company to retain its leadership in the Maltese market and renew clients’ confidence, while navigating the global challenges of inflation, uncertainty and financial turbulence. At the same time, between MESGA and various other CSR initiatives being carried out through its foundation, Fundación MAPFRE, Javier hopes the impact can go beyond business. “We’re always looking to actively contribute to society,” he says. “At MAPFRE, we feel an absolute commitment to Malta and our clients. We came to Malta in 2011, and we don’t intend on leaving.”

History is repeating itself. True or false?

True, but it’s never exactly the same.

The world’s biggest priority right now should be…?

Addressing geopolitical risks and climate change.

If you could only focus on one project in 2023, what would it be?

Better work-life balance.

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“We want to give our people access to the best training and resources, so they feel empowered to carry out their jobs with confidence. It’s our duty to invest in our people and provide them with the tools they need to succeed.”

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Alan Grima

CEO, DHALIA R E A L E STAT E

“ T H E C E O R O L E I N V O LV E S A L O T O F P R O B L E M S O LV I N G .

I T ’ S T H E N ATU R E O F T H E J O B .”

20 2 2 M A R K E D A M A J O R M I L E STO N E YE A R FO R D H A L I A R E A L E STAT E , WH I C H C E L E B R AT E D I TS 4 0T H A N N IVE R S A RY WH I L E M A K I N G ST R I D E S TO I N T R O D U C E G R E AT E R I N D U ST RY R EG U L AT I O N A N D L AU N C H I N G A BRAND-NEW SUB-BRAND THROUGH DHALIA CRE.

Alan Grima’s appointment as CEO of Dhalia Real Estate in 2016 should serve as a golden lesson about the priceless value of transferable skills in business. Hailing from a background in IT and software development, he initially joined the agency as CIO back in 2008, when he worked closely with the board of directors on several significant projects that helped the agency continue to live up to its reputation as a truly innovative player in the local market.

“The CEO role involves a lot of problem solving and my background in software development has certainly equipped me with the skills to respond quickly to unexpected circumstances and adapt to change. It’s the nature of the job,” Alan explains.

With the benefit of hindsight, Alan’s appointment as CEO proved an inspired decision. Not only did Alan possess a fierce passion for Dhalia’s reputation and legacy, but he also had a track record for capitalising on new trends to help the agency navigate its way through a rapidly changing real estate landscape increasingly defined by digitisation.

Under Alan’s guidance, Dhalia introduced new systems and technologies that saw the agency streamline its processes and retain its market leader status at a time when more and more players were entering the real estate game. The company also became one of the first on the island to harness the outreach possibilities presented by the rise of social media.

Leading a 150-strong team, with outlets spread across the island, certainly means Alan has his work cut out for him. But through his pragmatic and analytical leadership style, where the big picture always meets the little details, Alan has successfully developed and implemented significant changes across all levels of the agency to ensure the brand remains synonymous with quality.

Following a changing of the guard, Alan was presented with an opportunity to make a radical switch to take up the reins of the agency.

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In practical terms this means that, in addition to setting the company’s vision and strategy for the future, he also keeps a hand in the day-to-day operations, communicating with branch managers to follow up on recent wins, new market challenges and emerging area trends. Perhaps unsurprisingly given his IT foundations, Alan has also overseen small but subtle changes across the agency by introducing a greater element of automation in internal processes, thus freeing people up to focus on more important aspects of this people-facing job.

“Buying a property, especially when it’s your first home, should be a happy occasion. It shouldn’t be marred by the prospect of traffic and parking headaches. Our taxi service takes away these stresses and ensures clients arrive at their promise of sale signing relaxed and in a good mood. It’s proven to be a very popular initiative that clients love.

It’s these kinds of personal touches and practical solutions that set Dhalia apart.”

“I would say that, over and above my daily duties, I have two main overarching responsibilities as CEO,” he says. “The first is to continue to foster a culture based on customer obsession and innovation. I believe that our willingness to deliver a propertybuying experience that goes beyond the ordinary is what gives us an edge over the competition. This couldn’t be more crucial today when most real estate agencies are essentially selling the same product.”

Central to this strategy of strengthening Dhalia’s customer experience is a mission to create solutions for everyday problems that clients face. As one example, with the vast majority of promise of sale signings taking place in Valletta, Alan and his team recognised that many property buyers were facing the inconvenience of having to make their way to the capital during work hours and between other pressing responsibilities. So, to simplify the process on their behalf, the Dhalia team introduced a complimentary taxi service. Clients simply provide their details, and the Dhalia team takes care of all the rest.

All of our success wouldn’t be possible without our people. The passion and dedication they pour into Dhalia is the reason why we continue to be a household name that inspires trust.

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Picking up on his other core CEO responsibilities, Alan adds that he also feels obligated to be accountable to property buyers: “when clients approach us, they are trusting us with one of the biggest decisions in their lives. That’s why I believe our clients deserve to have access to the best property consultants who can always provide a professional service with reliable advice and accurate information.”

To this end, Alan has worked hard over the past few years to introduce tighter regularisation within the local real estate industry. By ensuring all property consultants are trained and licensed, regularisation would result in a more professional industry with improved quality standards.

Currently Dhalia is the only agency in Malta that is licensed to provide in-house accreditation training. As well as being a mark of quality for the agency among clients, Alan also sees this as a significant benefit for Dhalia’s own agents, one which demonstrates how the agency strives to deliver a company culture that truly supports its people.

“Dhalia sponsors all accreditation and training for our property consultants. We also regularly invite leading property coaches from around the world to share their insights and expertise with our teams. We want to give our people access to the best training and resources, so they feel empowered to carry out their jobs with confidence. It’s our duty to invest in our people and provide them with the tools they need to succeed,” he asserts, before adding that he will continue to advocate for proper enforcement structures to ensure the benefits of regulation have a positive ripple effect across the entire industry.

2022 saw Dhalia celebrate another landmark with the launch of sub-brand Dhalia CRE. Focusing purely on commercial real estate, this niche enterprise is designed to be a one-stop shop to help commercial clients identify the right properties for their unique business requirements and gain access to bespoke investment appraisals, all while enjoying a highly exclusive property-buying experience.

“Over the past few years, Malta has continued to generate interest from emerging industries looking to set up shop here. We wanted to provide investors with a highly specialist CRE service that caters to this sector of the market. We’re always driven by quality at Dhalia. For this reason, we’re also introducing a new accreditation course to train a specialist team of consultants with up-to-date industry knowledge to better guide commercial clients in making informed decisions throughout the purchase process.”

Looking back on his journey so far and reflecting on all the agency has planned for 2023 and beyond, Alan is quietly sanguine about the future of this 40-year-old agency which has stood the test of time, where many others have fallen by the wayside.

“All of our success wouldn’t be possible without our people – board of directors, the people at head office, the management team, and all of our hard-working property consultants. The passion and dedication they pour into Dhalia is the reason why we continue to be a household name that inspires trust,” he concludes.

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Quick-fire Questions… with Alan Grima What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

Steve Jobs.

When it comes to running your business, what is your best habit?

Listening.

And your worst?

Micromanagement.

What’s a hobby that’s been with you since childhood?

Photography.

Would you time travel to the past or the future?

When and why?

Past, AD1. Fascinating times.

What attributes do you value most in your team?

Honesty and respect.

Is there a talent you’d like to have but don’t?

Playing an instrument.

What has been the greatest milestone in your career so far?

Being given the opportunity to lead one of the major players within the industry.

WhatsApp – a useful tool or the bane of your existence?

Bane of my existence.

Do you focus best in complete silence, with background noise, or while listening to music?

With background noise.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Embrace change.

What is one skill you would like to develop in 2023?

Coaching.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

The environment.

If you could only focus on one project in 2023, what would it be?

Dhalia CRE.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Carlo Micallef

C E O , M A LT A TOURISM AUTHORITY

“I LOVE TRYING OUT NEW IDEAS .”

S I N C E I TS E STA B L I S H M E N T I N 1 9 9 9, T H E M TA H A S B E E N T H E P U B L I C E N T I T Y E N T R U ST E D WI T H S A F EG UA R D I N G , R EG U L AT I N G A N D M O N I TO R I N G T H E T R AVE L A N D H O S PI TA L I T Y I N D U ST RY, H E L PI N G TO ST E E R T H E S E CTO R T O W A R D S G R O W T H . N O W , W I T H 2 5 Y E A R S ’ E X P E R I E N C E U N D E R H I S B E LT , C EO CA R LO M I CA L L E F I S D E T E R M I N E D TO S E E T H E O R G A N I S AT I O N – A N D T O U R I S M I N M A LT A – C O N T I N U E T O F L O U R I S H .

Carlo’s dedication and single-minded tenacity brought him to the attention of his superiors, and, as testament to their faith in his work, Carlo was transferred to the British desk – “the UK was our biggest market with over 50 per cent of the market share, so I knew my work ethic was being noticed,” the CEO says. And it continued to be as the years progressed, and as the NTOM became the MTA, other promotions followed: Carlo was appointed as Head of Division and Senior Manager, and, later, he was chosen to serve as the Director of the MTA’s office in Amsterdam, overseeing the island’s tourism markets in Benelux and Scandinavia.

Carlo Micallef, the current CEO of the Malta Tourism Authority (MTA) – the island’s public body responsible for coordinating all overarching aspects of the island’s travel and hospitality sector – joined the entity in 1997, as a young executive keen to prove himself.

“At the time it was known as the National Tourism Organisation of Malta (NTOM), and, starting out, I was assigned the Russian desk, in charge of attracting tourists from there,” he recalls, saying that “no one had wanted the task” since the organisation did not yet have an established foothold in the territory. “Of course, it was hard work. We were tasked with making Malta known in Russia, without having much of a budget to begin with.

However, we managed to attract the foremost Russian media outlets, inviting 10 journalists every week to the island, and, thanks to this groundwork, we gained wide exposure for Malta,” he explains.

“I spent three formative years there and returned a changed man,” Carlo attests, explaining that the experience “opened my eyes to the world, allowing me to understand different ways of working, and diverse cultures. It was a big step in terms of my 162

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CEO INSIGHT “My role is to make a team of very talented individuals driven to achieve their goals. I see myself as a catalyst to success, a facilitator, leading the entity towards new goals.”

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In 2022, as a result of all our marketing efforts over the course of the pandemic, when we kept Malta extraordinarily visible on social media, personal development.” This, however, also spurred his professional growth for, on his return to Malta, Carlo was given the task of developing new markets in eastern Europe, as well as in the Middle East and Asia. Carlo’s progress here was also substantial, and, in 2014, he was appointed Chief Marketing Officer, stepping in as Deputy CEO of MTA in 2019. Then, in June last year, he was given the role of CEO. “It was a long journey,” Carlo smiles, “but it helped me to prepare for the task we have to embark on today.”

Indeed, the challenge nowadays is vast, for the MTA oversees product development, licensing, compliance and regulatory matters, as well as route development, events and marketing within the context of an everevolving industry. “There have been many changes since the entity was born; when the MTA was first launched, the industry was tour operator-led. Malta was, essentially, featured in brochures, and you’d be guaranteed a set number of tourists from specific markets. As a result, Malta, as a tourist destination, would principally compete on price,” he explains.

Today, however, the way the tourism industry works is markedly different. “With the advent of low-cost airlines, digital marketing, and business-to-consumer (B2C) advertising, the role of the tour operator has lost a lot of clout, and there is increased competition from countries that were hardly on the tourist map in the past: destinations like Albania, Croatia, as well as Saudi Arabia

the island’s tourism sector experienced a very quick recovery, post-pandemic.

and Dubai are increasingly popular.” However, despite this rivalry between competing destinations “more people can afford to travel, so that pool of consumers is getting bigger,” Carlo attests.

The COVID-19 pandemic had a crippling effect on the sector, worldwide, Carlo says, yet, there has been a surprising and strong rebound, proving that people’s appetite for travel is greater than ever. “During the coronavirus crisis, there was a lot of uncertainty – even within the MTA itself, since we couldn’t predict what was going to happen. However, you should never give up and you should always be ready to hit the ground running, ready to act when opportunities come your way. In fact, in 2022, as a result of all our marketing efforts over the course of the pandemic, when we kept Malta 164

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extraordinarily visible on social media, the island’s tourism sector experienced a very quick recovery, post-pandemic,” the CEO affirms.

This positive attitude towards dealing with unexpected challenges comes from Carlo’s deep-seated passion for creative problem solving. “This is the aspect of the job I enjoy the most. I love trying out new ideas; if you’re not innovative and you do not grab those opportunities, you fall behind. So, I believe the tourism industry in Malta, and the MTA, need to be on the ball when it comes to making decisions and trying out new solutions,” he says, adding that he tries to instil this attitude in his team. “My role is to get a team of very talented individuals driven to achieve their goals. I see myself as a catalyst to success, and a facilitator,” he asserts.

Quick-fire Questions… with Carlo Micallef What is your favourite part of the working day?

The evening.

Who do you most admire in the global business sphere?

All those that are self-made.

When it comes to running your organisation, what is your best habit?

Listening to and empowering people.

Looking ahead, this year the MTA will be focused on promoting target segments with “a higher spending power”, advertising the country towards niche markets that appreciate the diversity the country has to offer. “We are seeing increased interest from the LGBTQI segment, who are curious about Malta’s history and culture.

Moreover, we are seeing a rise in tourists travelling for the gastronomic experience the islands can offer, particularly with Malta’s restaurants achieving high Michelin Guide ratings. There’s also a market for active sports travel – with visitors, for instance, coming to participate in a marathon, triathlon, cycling or trekking activities, or even coming to watch or play in international competitions, such as the Small Nations’ Games this summer,” Carlo says.

And your worst?

I tend to overthink.

What’s a hobby that’s been with you since childhood?

Racing pigeons.

Would you time travel to the past or the future?

When and why?

To the future, to see if the doom and gloom predicted will turn out to be real.

What attributes do you value most in your team?

Integrity, truthfulness and a sense of enterprise.

Difficulties will persist through the year, though, the CEO confirms, with the energy and cost-of-living crises prompted by the Russian invasion of Ukraine likely to impact the sector. “There continues a strong desire to travel, especially since many of us missed out on it over COVID-19. However, rising costs will have an impact on the amount of disposable income families and individuals have, so our challenge will be to promote Malta and Gozo in a way that shows we can provide the best of experiences for the best value for money. There are cheaper destinations which are attractive, of course, so we’ve got to push forward our message effectively,” he says.

Is there a talent you’d like to have but don’t?

Dancing.

What has been the greatest milestone in your career so far?

Becoming the CEO of MTA. WhatsApp – a useful tool or the bane of your existence?

A bit of both.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Choose a career you’d enjoy pursuing as much as your hobby.

One of the ways in which the entity is doing this is through the new unit overseeing brand partnerships. “We’re strengthening the Malta brand by associating it with big names, and teaming up with partners such as Manchester United and the Eolo-Kometa cycling team,” Carlo says, adding that this thrust is all aimed at helping prospective travellers choose the island as their next destination.

What is one skill you would like to develop in 2023?

Improved time management to achieve a better balance between attending meetings and time for creative thinking.

History is repeating itself. True or false?

True.

After all, seeing quality tourism coming to the country would, in Carlo’s view, increase the level of professional satisfaction felt by everyone in the travel and hospitality industry. “When you’re satisfied with what you do, you are energised for the future. So we’re hoping for peace and stability this year. We’re hoping people can just get on with their lives – life is beautiful, and we need to enjoy it as much as we can,” he smiles, concluding.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

Launch and market Malta in a new region.

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Joanna Delia

CEO, PEOPLE & SKIN

“ I VA LU E A DVO CACY, EXPE R I E N C E S AND LIFESTYLE MORE THAN PROFIT.”

WHILE DR JOANNA DELIA’ S NAME HAS BECOME SYNONYMOUS WITH AESTHETIC M E D I C I N E O N T H E I S L A N D, H E R J O U R N EY WI T H I N T H E I N D U ST RY STA RT E D – A S SO MANY INTERESTING STORIES DO – WITH “A BIT OF AN EXISTENTIAL CRISIS”.

T O D AY , S H E I S T H E P R I M A R Y A E S T H E T I C P H Y S I C I A N I N H E R M E D - A E S T H E T I C C L I N I C , P E O P L E & S K I N , A N D I S PA S S I O N A T E A B O U T L E A D I N G W I T H P U R P O S E , P UT T I N G H E R VA LU E S AT T H E FO R E F R O N T O F H E R B U S I N E S S .

Having trained as a doctor, Dr Joanna Delia admits she quickly felt out of place in a hospital environment, describing the role as a vocation which, despite fascinating her, wasn’t a match. Aa a self-proclaimed lover of life, it opened her eyes to its fragility, and set her on a path of discovery.

of aesthetic medicine. “I find myself fortunate enough to have discovered this way of using science and my skills, and started from there.”

“One of the human values I love most is the pursuit of beauty,” she begins, speaking of how she began working at an aesthetic clinic after considering her options, including shifting tack completely to study architecture.

Pretty soon, Joanna came to the realisation that she wanted to open her own clinic. “I am the kind of person that always wants to better things. It started out as a dream but, as it turned out, circumstances dictated that, within a few months, I set up my own shop,” she recalls, likening this leap of faith to jumping into an abyss.

“I then realised I could use my skills to make people happy. We use science and medicine to maintain and improve ourselves on the inside, and we can also do that on the outside,” Joanna says, using her knowledge and practice to combat the sometimes-negative perception

“Every time I made a big move – from leaving the hospital to setting up my own clinic – it was extremely scary, and came with huge lessons to be learnt,” she reveals humbly, and going it alone makes her especially proud of her achievements.

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C E O I N S I G H T THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS “When you invest time to find a way to get the best out of everyone, while giving them space to deal with their problems and look at their time at work as a time where they can shine in a safe environment, the output they give is incredible.”

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Every time I made a big move – from leaving the hospital to setting up my own clinic – it was extremely scary and came with huge lessons.

“No one in my family is involved in business, and it was never my plan to run a business,” the CEO affirms, noting that, as the clinic has grown, so too has her output as a business owner. “I’ve been reducing a bit of my professional work, which is also helped by the fact that our other doctors are so extraordinary. I’m happy to be moving into a more supportive role and having more time to develop and improve things.”

And she’s not quite had her fill yet, she reveals, as she shares plans to start another company. “This has been in the works for a number of years. It is a product I intend to launch internationally, so not being able to travel due to COVID definitely threw us back, but we are catching up, and I’m very excited about it,” she smiles.

“When you’re looking up from the foot of the mountain, your brain is racing, you’re doing all these algorithms in your head. But you do it, step by step,” Joanna says, describing each step as incredible, adrenaline-filled and rife with learning experiences. “The process itself has been very humbling. I’ve made lots of mistakes along the way but, ultimately, one of the biggest lessons I’ve learned is the importance of having a set of professionals you trust around you.”

As a business leader, Joanna, who was recently named Female Entrepreneur of the Year at the Malta Business Awards, has also become known for progressive practices that prioritise enjoying life, including a three-day work week and taking sabbaticals – a topic she is emphatic about.

Her role at the helm of People & Skin today is a multifaceted one. While she continues to find satisfaction in offering her services as an aesthetic physician to her patients, Joanna has also developed a keen interest in the administrative side of things – though, she admits, it’s come as somewhat of a surprise.

“Flexibility is one of the most beneficial things for business,” she maintains, noting that, in adopting these 168

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practices, she wanted to prove to herself – and perhaps more so to the country – that not only can it be done, but that it is also incredibly fruitful. “It takes a lot of trust, and you have to be able to delegate. I trust my team completely, and know that they can rely on each other, so, for example, I never take note of working hours or vacation leave. All I am concerned about is that the work is done, and that it is done well.”

Quick-fire Questions… with Joanna Delia

The business owner herself takes full advantage of these practices and, alongside administration work, she generally sees patients three days a week, for 25 weeks in the year. As a result, she spends more time with family and doing what she loves. “I’m never not willing to go to work. It requires planning, but works out beautifully – everyone is happy, and I know that our clients feel it as well. When you invest time to find a way to get the best out of everyone, while giving them space to deal with their problems and look at their time at work as a time where they can shine in a safe environment, the output they give is incredible.”

What is your favourite part of the working day?

I meet about 50 people a day, and every encounter is an adventure.

Who do you most admire in the global business sphere?

The founder of Patagonia, Yvon Chouinard.

When it comes to running the business, what is your best habit?

Making every decision based on the fact that every client and team member is a human being with their own characteristics.

And your worst?

Taking on a little more than I can handle.

Apart from this emphasis on flexibility, Joanna brings another of her passions to bear on the business: her love of the arts. “The biggest vehicle of education, post formal education, is culture; and if we don’t support artists of all genres and produce art, society moulds and dies,” she affirms, making a case for supporting contemporary artists, as well as Old Masters.

What’s a hobby that’s been with you since childhood?

Reading.

Would you time travel to the past or the future? When and why?

I’d go into the future, to check out what had gone wrong and return to fix them!

What attributes do you value most in your team?

Respect for one another.

“Apart from supporting the arts on a personal level, as a business entity, choosing to deliver your message or associate yourself with support of the arts really works. A company legacy, when associated with art, is eternal,” she adds, quipping, “after all, how many people remember that Henry Tate was actually a sugar magnate?”

Is there a talent you’d like to have but don’t?

Talents related to manual labour; as well as every artistic and musical talent!

What has been the greatest milestone in your career so far?

Starting my own company.

Looking ahead, Joanna’s plans for People & Skin will continue to centre on one important concept: “I value advocacy, experiences and lifestyle more than profit.”

And while she admits to being averse to “a lot of” growth, the business is definitely growing, and will continue to do so, albeit on a “soft curve”.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence is not my friend! The best background noise is classical music.

“I’m extremely happy to continue to extend our professional services to more people while always maintaining the highest standards. I have no dreams of cloning my business; I believe our secret is simply being a strong team. I am also passionate about sharing the business’ success with my colleagues. The satisfaction you get from sharing your success built by your team with the team is incredible.”

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

You’re on the right track.

What is one skill you would like to develop in 2023?

Forging good business relationships.

History is repeating itself. True or false?

True.

Meanwhile, Joanna is also looking forward to launching her second company, which she hopes will be “riding some nice waves” in the years to come, as well as continuing another passion project she’s developed over the years: investing in and restoring old properties. “It’s tough but extremely rewarding, and I’m now restoring a place in Sicily, which I’m so excited about.”

The world’s biggest priority right now should be…?

Making environmentally conscious choices on an individual level.

If you could only focus on one project in 2023, what would it be?

I’d miraculously restore the 17th century house I bought in Sicily, although I’m also looking forward to the process!

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CEO INSIGHT “Always be modest, and always be willing to listen. The role of a CEO is to listen to good advice and to use it for the best of the firm.”

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Paul Mifsud

C E O , S PA R K A S S E BANK

“ A LW AY S B E M O D E S T . ”

S I N C E B E C O M I N G C E O O F S PA R K A S S E B A N K I N 2 0 0 6 , PA U L M I F S U D HAS INVESTED HIS ENERGIES IN CEMENTING AND BOLSTERING THE C A PA B I L I T I E S O F H I S S P E C I A L I S T T E A M , E M P O W E R I N G H I S S T A F F T O E X C E L .

AND HE IS DETERMINED TO KEEP PLACING THIS DIALOGUE BETWEEN ALL STA K E H O L D E R S AT T H E H E A RT O F T H E B A N K ’ S O PE R AT I O N S .

“I see myself as the glue that tries to bind our competent people together,” Paul Mifsud, CEO of Sparkasse Bank, says, with a warm smile that seems to affirm his collaborative approach. “I liaise between the team, determining what makes the staff within the bank tick, and empowering those around me. That’s my job, as CEO – and, if it is done well enough, eventually, I can make myself redundant,” he explains, with modesty.

new areas of banking that were rather dormant locally at the time. Jointly with the then-Chairman I had worked on a business plan for which I was given the mandate to implement,” he says, underscoring, however, the importance of the work done by the staff at the bank.

“What always keeps me going are our people at Sparkasse – those who make the day-to-day happen. However, you have to ensure you can provide sufficient challenges to keep people motivated, and to retain that talent within the firm,” he explains. Humility, he continues, is at the heart of creating the right working environment for the right people to thrive.

Paul’s desire to be this uniting force comes from years of experience in various business roles as Managing Director for other firms he ran, in particular Quest Investment Services which he founded in 2000 with the goal of providing investment advisory services. That firm grew in a few short years and came to the attention of Sparkasse Bank, which had been established in 2002. Indeed, in 2006, the bank acquired a majority stake in Quest’s investment services firm, offering the enterprising leader a role as CEO. “It was a business opportunity that allowed for the bank to grow its investment services arm and to branch out into

“Always be modest, and always be willing to listen,” he says, when stating the advice he would give to younger leaders starting out. “Don’t assume you know it all; you’re there to listen to the experts and form judgment. The role of a CEO is to listen to good advice and use it for the best of the firm. Any aspiring business leader needs to learn to 171

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yield power in a humble manner while giving the team the opportunity and platform to showcase their talent and be accountable for it. My work is all about the collective; you need to give your staff the opportunity to contribute.”

This attitude is the cornerstone of success, Paul believes, particularly in the dynamic sector he operates within.

“There are always new regulations, opportunities and threats. This keeps stress levels high but that can be healthy too, at times, as it keeps us on our toes. Of course, it sometimes poses a challenge in terms of human resources,” he asserts, reiterating the importance of keeping his staff at the heart of the bank’s processes.

Another challenge has been the necessity for robust digital infrastructure. “IT sustainability is a central preoccupation. Everything today has an IT element to it – all our processes, procedures and risk management operations; if you cannot automate the task, then you cannot affect it. That’s the reality today. Within a bank, you want to mitigate risk as much as possible, particularly since the risks for error are high and laws

“Human resources in Malta are rather thin on the ground. While capital is not in short supply, human resources and the supply of specialists surely is.

Unfortunately, we don’t have a deep enough pool of professionals or experts locally from which we can source talent.

Luckily, Malta attracts other EU nationals seeking work here; in fact, approximately 40 per cent of our workforce is foreign – 80 per cent from the EU and 20 per cent are third-country nationals,” he explains, adding that, in the past few years and as a result of the pandemic, there has been more employee movement than usual. “Staff didn’t move over the two years of lockdown, so when restrictions were lifted and life went back to normal, younger people looked for greener pastures.”

Culture is essential at work. Once the most effective ways of working have pervaded into the senior roles, a firm can run on autopilot.

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around information security are very prescriptive. So, with regards to a bank like Sparkasse – which is a business-tobusiness enterprise, and not a retail operation – we are not only running a firm, with its own balance sheet, but also ensuring 100 per cent digital capabilities. Here, the expertise is not easy to come by,” he affirms.

Due to the general development and adoption of IT processes, COVID-19 did not generally disrupt banking in so far as the bank’s capabilities to transact for customers.

It was more the repercussions of the pandemic that were insidious and unexpected. In fact, the aftermath of the crisis impacted several economies last year, due to supply shortages. These were then compounded by the war in Ukraine, prompting a fight against inflation. In reaction, central banks moved to increase interest rates, and there’s talk that these will increase even further this year due to the energy crisis. That was the biggest surprise last year, the CEO insists, calling the European Central Bank’s aggressive move to increase interest rates – to 1.5 per cent at the time of writing – as “cardinal” in its impact.

Despite these hurdles, however, Paul has kept the ship on course. “I didn’t have to change what we were doing; I have a good rapport with our staff and we continued with our meetings. I also retained intense dialogue with management. Culture is essential and, once the most effective ways of working have pervaded into the senior roles, a firm can run on autopilot. It’s important to choose the right procedures and, if something isn’t working, it must be tackled immediately. So, despite these shifts, we continued to do what we normally do, calmly,” the CEO says.

Ultimately, “the bank is trained to be nimble, so when we see a shift, whether it’s a challenge or opportunity, we have sufficient agility to be able to react and to counterbalance any threat, or to be able to capitalise on any opportunity.

In this way, we have continued to develop and grow Sparkasse’s opportunities in Ireland, for instance, with more changes up ahead,” he explains.

Indeed, Paul and his team will, this year, affect a merger between Sparkasse and another bank, the groundwork for which started in 2022. “Our main task in 2023 is to transition our financial institution and merge it with another entity, so our share capital, head count and business will increase significantly. As a result, additional services will be added to our portfolio. This is our number one priority for the next few months – that is, to affect a seamless integration, all the while ensuring our existing business model and customer relationships are kept on track,” he insists.

And, while all hands will be on deck for what is expected to be a big year at Sparkasse, Paul is determined to ensure his staff’s well-being continues to be prioritised, in line with his personal philosophy. “Time is one of our most precious resources. It is finite, and it’s important to make the most of opportunities to be with loved ones. This, in turn, allows us to dedicate focus to our work, without seeing it as a burden,” he says.

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Quick-fire Questions… with Paul Mifsud What is your favourite part of the working day?

The early hours of the morning before the sun rises.

Who do you most admire in the global business sphere?

Amancio Ortega, founder of Zara – self-made billionaire.

When it comes to running your business, what is your best habit?

Making myself available to others.

And your worst?

Finding the time to do more.

What’s a hobby that’s been with you since childhood?

Anything related to outdoor activity and listening to good music.

Would you time travel to the past or the future?

When and why?

I’d rather travel to the past – seeing a dinosaur (at a safe distance) would be impressive!

What attributes do you value most in your team?

Positivity and proactivity.

Is there a talent you’d like to have but don’t?

Flying a plane.

What has been the greatest milestone in your career so far?

Having grown the bank to its current level.

WhatsApp – a useful tool or the bane of your existence?

The most useful tool – quick and gets the job done.

Do you focus best in complete silence, with background noise, or while listening to music?

Background classical music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Learn to speak more foreign languages.

What is one skill you would like to develop in 2023?

Optimise time.

History is repeating itself. True or false?

True. Life is cyclical and man is predictable.

The world’s biggest priority right now should be…?

Eradicating poverty.

If you could only focus on one project in 2023, what would it be?

The successful integration of our merged banks into one stronger entity.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Michael Mifsud

CEO, M U LT I G A S G R O U P

“I BELIEVE IN NETWORKING , KEEPING A LOOKOUT, AND L E A R N I N G F R O M B OT H T H E S U CC E S S E S A N D FA I LU R E S O F O T H E R M A R K E T P L AY E R S . ”

M I C H A E L M I F S U D’ S F I R ST I N T E R E ST WA S A R C H I T E CTU R E , D E S PI T E G O I N G ON TO TRAIN AS AN ENGINEER. HE THEN OCCUPIED LEADERSHIP ROLES W I T H I N S E V E R A L M U LT I N A T I O N A L C O R P O R A T E S B A S E D I N M A LT A A N D O V E R S E A S . T O D AY , A S C E O O F M U LT I G A S , H E E X P L A I N S W H Y I N V E S T M E N T I N T H E I M PL E M E N TAT I O N O F T H E L AT E ST S A F E T Y A N D E NVI R O N M E N TA L SYSTEMS FOR HANDLING AND STORING INDUSTRIAL AND MEDICAL GASES W A S O F PA R A M O U N T I M P O R T A N C E T O T H E F I R M .

Michael Mifsud’s intended career was in architecture, yet technical curiosity and a passion for design led him to qualify with an Honour’s degree in electrical engineering and a Master’s in business administration.

of electronic control components for the building and industrial automation markets, when the international group was expanding. At that time, the Maltese operation was given end-to-end responsibility for product concept, manufacture, marketing and training.

Fresh out of university, he joined Trelleborg, a global engineering group focused on polymer technology and providing specialty sealing solutions. Shedding light on his experience, he shares that “the automotive market is an excellent breeding ground for technical people. It keeps you on your toes as you navigate a market with its own rules and behaviour. High quality standards are taken for granted and product performance must be guaranteed.”

Recalling his time there, Michael reflects: “the exciting part was building innovative technical facilities and a laboratory to certify the noise levels of components. I was able to travel for research, develop new products and compete against big names around the world.”

As his career progressed, Michael found specialisation intriguing but became keen for an opportunity to put more ideas into action.

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CEO INSIGHT “We must consider longterm integration aspects.

Our population has exploded by 25 per cent in recent years. Immigration is going to have a considerable impact on the island.”

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He points out that, as an individual, he is rarely content with the status quo. “I am a change driver. I am unhappy with the status quo and am never 100 per cent satisfied with what I achieve,” he asserts.

see it through to completion, in true never-say-die spirit.

The project galvanised our teams in the face of adversity.”

During this time, Michael says that the biggest change to take hold of the organisation was increased flexibility on all levels. “The important thing was getting the job done – ‘the how’ was something we figured out as we went along,” he attests.

This determination led to his appointment as Multigas CEO in 2009, a position which offered an opportunity to join a technology-led company that was the first to manufacture oxygen and nitrogen in Malta.

He is adamant that what differentiates Multigas from its competitors is staying nimble, with fast communication channels and fewer organisational layers. This enables his team to predict the market and stay ahead of the curve.

Most importantly, Michael says, “it is a network of close relationships, doing business with like-minded companies and jealously guarding the values of business ethics and fairness.” Indeed, he describes his leadership style as collaborative, believing that this approach is indispensable if the team is to achieve results.

His tenure has been distinguished by the introduction of technology and innovation. The company now offers ‘remote gas management’ to various industry sectors and has a management team prepared for the unexpected – an attribute put to effective use as the pandemic impacted both the supply and demand sides of Multigas’ business.

To ensure a continuous supply of medical O2, new storage facilities were set up on both islands in collaboration with Mater Dei Hospital, Gozo General Hospital, and the local health authorities. As a result, the robustness of the hospital supply chain was significantly improved. Michael explains that the logistics of getting products to Gozo was particularly challenging, as scheduled vessels could not carry liquid oxygen. The Multigas team was able to develop an unorthodox delivery method which has now become the standard supply line.

He contends that “a single person cannot claim results alone. Most times, the best outcome happens after discussing contrasting ideas.” Further underscoring the importance of remaining nimble, the CEO admits that he likes “to cross-fertilise ideas to get maximum results.

“To lead, one needs to be ready to change direction but remain focused on the intended destination,” he adds.

Michael sits on the European Industrial Gases Association (EIGA) Board, giving him access to international best practices in safety, technical innovation and business trends. He says his position on the panel ensures that “Multigas stays as close to world-class as possible.”

When lockdowns decimated Malta’s hospitality industry, demand for gases used in brewing and soft drink manufacture, as well as cellar gases for the hospitality industry, plummeted. During the lull, Michael initiated an upgrade to Multigas’ cylinder testing facilities, making it easier and faster for customers to return their carbon dioxide cylinders to service, once demand recovered.

Michael recalls that when COVID-19 hit, his team were in the middle of the most significant project they had taken on in the last 10 years. Irrespective of the challenges presented, “we found ways and means to plough on and

He also represents the manufacturing industry sector within the Malta Employers Association, which he says is, at times, misunderstood. “It is not just an employers’ lobby; first and foremost it helps employers stay within the legal frameworks. It provides guidelines that help raise the standards of both employers and employees around the country,” Michael explains.

I am a change driver. I am unhappy with the status quo and am never 100 per cent satisfied with what I achieve.

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Turning to the highlights of his career, the Multigas CEO references “the opportunity to experience firsthand what is happening outside of Malta, giving [him] a deeper perspective.” He affirms that “it is a privilege to witness success stories and to gain insight of what and why things worked for international companies, and why others didn’t.

“Every role has given me the possibility to work and grow.

We remain students every day of our lives, savouring the excitement of learning something new every day,” Michael notes.

Quick-fire Questions… with Michael Mifsud What is your favourite part of the working day?

Planning future projects.

On the opportunities that abound in 2023, as well as the C-level executive’s outlook for the coming year, Michael points out that Multigas recently built a new multi-million euro cryogenic air separation plant to produce liquid nitrogen and oxygen. These products are vital to the myriad organisations that are present locally.

Who do you most admire in the global business sphere?

I draw inspiration from many, but no individual has all the qualities.

When it comes to running your business, what is your best habit?

Tracking targets and getting the job done.

As a result of the increase in production capacity, he explains that Multigas is now in a position to offer services outside Malta.

And your worst?

Focusing on too much detail.

However, Multigas also needs very specialised skills. The Malta Chamber of Scientists has expressed concern about the downturn in the number of students graduating in technology and engineering. Michael shares this concern, particularly in the context that the challenge for any organisation is expansion, adding that leaders need to “ensure that the organisation has a sound skills transfer system so that it retains its heritage.”

What’s a hobby that’s been with you since childhood?

Music and playing the guitar.

Would you time travel to the past or the future? When and why?

The future. I like to look forward.

What attributes do you value most in your team?

Taking responsibility for challenges faced.

Is there a talent you’d like to have but don’t?

Being a professional singer songwriter.

Since Malta joined the EU, the movement of people has become inevitable. Michael advocates that “we must adjust to the behaviour of a mobile labour force. We need to look at those who want to join our workforce holistically. Where are they coming from, and how are they adjusting socially? We must consider long-term integration aspects. Our population has exploded by 25 per cent in recent years. Immigration is going to have a considerable impact on the island. We need to spend time planning for a new reality.”

What has been the greatest milestone in your career so far?

The move to general management has enabled me to grow.

WhatsApp – a useful tool or the bane of your existence?

WhatsApp has changed people’s lives for the better.

Do you focus best in complete silence, with background noise, or while listening to music?

I prefer silence.

On a more personal note, Michael adds that his wife, Liliana, hails from a background in pharmaceuticals, but switched to the hospitality sector, with a focus on hotels and tourism. Speaking of their relationship, he says: “I would not be where I am today without her presence. We have a mutually supportive relationship.”

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Don’t waste time on something you are not enthusiastic about.

What is one skill you would like to develop in 2023?

Understanding how to become more sustainable in more areas of my life.

They have three daughters; the elder two, Saz and Suzi, are independent full-time designers and their youngest, Sophie is studying medicine.

History is repeating itself. True or false?

True, but it is never precisely cut and paste.

Michael shares his belief that an important aspect of a successful career is to find a healthy balance between business and family life: “I find it therapeutic to share with my wife elements of each other’s working day and I like to be involved in the life and projects of our children.

Outside of work, I have my passions, such as recently taking up flying. I now look forward to sharing this new thrill with my family and friends.”

The world’s biggest priority right now should be...?

World peace and creating more opportunities for the underprivileged.

If you could only focus on one project in 2023, what would it be?

Developing renewable energy solutions.

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CEO INSIGHT “A CEO needs to be adaptable and flexible. I don’t think there is a stereotypical CEO because each and every person doing this job has their own character, and a lot will also depend on the industry they operate in and the company they lead.”

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Etienne Sciberras

CEO, MAPFRE MSV LIFE

“ FO C U S O N T H E O PP O RTU N I T I E S T H AT A N Y C R I S I S B R I N G S – E I T H E R I N T H E I M M E D I AT E F UTU R E O R WHEN THE CRISIS SUBSIDES.”

E T I E N N E S C I B E R R A S WA S A PP O I N T E D C E O O F M A PF R E M S V L I F E AT A T I M E W H E N M U LT I P L E G L O B A L C R I S E S C R E A T E D A N U M B E R O F C H A L L E N G E S . N OW, M O R E S O T H A N EVE R B E FO R E , H E H O L D S ST E A D FA ST TO T H E B E L I E F T H AT, I N T H E I N S U R A N C E S ECTO R , A DA PTA B I L I T Y I S CRITICAL FOR SUCCESS – BOTH NOW AND IN THE FUTURE.

MAPFRE MSV Life was established in 1994 by three main shareholders. Two of them – Bank of Valletta and MAPFRE Middlesea – remain shareholders to this day, but what started as a relatively small operation has grown significantly since those early days. “Our balance sheet at the end of 2021 reached the €2.7 billion mark, which makes us one of the largest local companies,” remarks CEO Etienne Sciberras. “We have evolved together with our customers’ needs. Whereas originally we provided life insurance when our customers took out a mortgage, now we have also branched out into the savings business, investments and pensions.”

Etienne joined MAPFRE MSV Life 22 years ago, rising through the ranks to become its CEO in April 2021. His years in the company’s Investments area, followed by those in the Risk department, of which he was Chief Officer, were as challenging as they were professionally rewarding, and they prepared him well for the role of CEO – which he feels is his biggest career milestone to date. “My experience in both departments was invaluable and gave me a detailed understanding of the company, which ultimately proved to be an asset when I considered applying for the role of CEO,” he shares. “Throughout these years at MAPFRE MSV Life, I’ve had the opportunity to work with people from

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Customer expectations are changing, and while there are still those who prefer to meet in person, younger generations are more inclined to do business online.

different backgrounds, which has been both fulfilling and exciting – and a great learning experience along my journey to CEO.” Etienne was thrust into the role at a time when the world was still grappling with the COVID-19 pandemic, and companies everywhere were still needing to adapt to the changing circumstances. “I have been trying to provide leadership and inspiration to my colleagues during this very difficult period. It has been an undoubtedly challenging time since my appointment,” admits Etienne. “Financial markets are very volatile and cost pressures are increasing in the local economy. And, we are obviously seeing a deterioration in consumer and investor sentiment. However, a CEO needs to be adaptable and flexible. I don’t think there is a stereotypical CEO because each and every person doing this job has their own character, and a lot will also depend on the industry they operate in and the company they lead. I don’t think that there is a perfect way to do this job, but I definitely believe that a CEO should be able to adapt. In the past, crises used to be few and far between, but we have seen them happening a lot more often over the past few years. It’s a sad reality, but one that we can probably expect to remain present in the future, which is why we must be prepared for change.”

Although things have not been easy, Etienne has managed to lead his team with positivity.

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he says. “The first thing you do in a crisis is to adapt to the new reality, which is what we had to do in 2022.

The year started with the war in Ukraine, followed by a surge in inflation, which is expected to remain higher for longer. Add to that the continued supply chain issues and the pressures they have created, and we had no choice but to revisit our plans. However, it is important to focus on the opportunities that any crisis brings with it, either in the immediate future or when the crisis subsides.”

One such opportunity was the acceleration of an ambitious digitisation process that MAPFRE MSV Life was already implementing when the pandemic started. “Customer expectations are changing, and while there are still those who prefer to meet in person, younger generations are more inclined to do business online. Moving forward, we want to continue with our digitisation efforts, with an increased online presence and more digital products planned for the coming months,” shares Etienne.

“Our industry is changing rapidly and becoming more efficient thanks to technology. In our case, for instance, part of the onboarding process used to be carried out manually, with significant input from the underwriter to accept or reject a proposal. With today’s technology, we have what is referred to as an ‘expert underwriting system’.”

Quick-fire Questions… with Etienne Sciberras What is your favourite part of the working day?

When I get to interact with people and exchange ideas.

Who do you most admire in the global business sphere?

Steve Jobs and Bill Gates.

When it comes to running your business, what is your best habit?

Listening to people and being open to criticism.

And your worst?

I tend to go into too much detail at times.

What’s a hobby that’s been with you since childhood?

Sports. It used to be football, but now I prefer cycling.

Would you time travel to the past or the future?

When and why?

To about 70 years in the future to see what kind of legacy we are leaving to future generations, especially when it comes to climate change.

Apart from adding investment products to its portfolio, MAPFRE MSV Life has recently started offering pension products and is now one of the largest players when it comes to the pension space.

Etienne predicts significant growth in this area over the next couple of years. “In fact, we are seeing an increase in momentum when it comes to voluntary occupational pension schemes, and we expect it to grow further over the next few years,” he says.

What attributes do you value most in your team?

Openness, dedication and professionalism.

Is there a talent you’d like to have but don’t?

Playing a musical instrument.

Diversifying the products and services offered is not the only way the insurance company is investing in its future. One of Etienne’s major concerns is climate change, which is why he gives great importance to the company’s Environmental, Social and Governance (ESG) agenda. “We want to play our part when it comes to sustainability, both in how we invest, but also in coming up with products which align with the sustainability preferences of our clients,” he explains. “Although the insurance industry is not one of the major direct polluters, insurance companies have significant investment portfolios, so they can also contribute to the sustainability drive by channelling capital to more sustainable projects and investments.”

Etienne might have taken the helm of MAPFRE MSV Life at a time of great uncertainty, but his vision for the company’s future is very clear. “Apart from making the products we offer and our investments more sustainable, we look forward to launching digital products that will provide a totally different user experience,” he concludes. “We are very excited about the future.”

What has been the greatest milestone in your career so far?

Being appointed CEO and adapting business to the COVID-19 crisis.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

I prefer silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

That something worth doing is worth doing well.

What is one skill you would like to develop in 2023?

Coding – although I doubt I’ll have the time for it!

History is repeating itself. True or false?

Sadly, I think it’s true to a certain extent.

The world’s biggest priority right now should be…?

Averting a nuclear war and acting on climate change.

If you could only focus on one project in 2023, what would it be?

I would accelerate our sustainability efforts.

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Kenneth Farrugia

DIRECTOR, FINANCIAL INTELLIGENCE A N A LY S I S U N I T

“ WE MADE THE IMPOSSIBLE POSSIBLE

BY IMPLEMENTING DRASTIC CHANGE.”

W I T H T H E M A M M O T H T A S K O F G E T T I N G M A LT A O F F T H E F A T F G R E Y L I S T I N 2 0 2 2 C O M P L E T E D S U C C E S S F U L LY , T H E F I A U A C H I E V E D W H A T S O M E T H O U G H T WO U L D B E I M P O S S I B L E . FO R D I R ECTO R K E N N E T H FA R R U G I A , T H AT S U CC E S S WA S A L L D OWN TO T E A MWO R K , U N I T Y A N D R E S O LUT E CO O PE R AT I O N B E T WE E N A L L T H O S E AT T H E F I AU A N D B EYO N D. N OW H E ’ S L O O K I N G F O R W A R D T O T H E N E X T S T E P S T H E F I A U – A N D M A LT A A S A WH O L E – WI L L TA K E TOWA R D S A S A F E R F UTU R E .

If there’s one thing Kenneth Farrugia makes clear, it’s that the FIAU’s success has been a team effort. Known for his humble approach to running the island’s Financial Intelligence Analysis Unit at a very critical time, he insists on taking none of the credit. “Yes, we have managed to achieve a lot in the last couple of years,” he says. “But that’s down to every single one of the people working here, not me. I really believe that. Every single one of us has a very important role to play.”

“Purpose is critical because, to be an authentic leader, you have to work with a certain level of ethics, transparency and dedication,” he says. “You have to be committed and passionate about your job. Our entire team is enveloped in a moral code that we take very seriously because of the nature of our work. It isn’t always easy – especially as the results we strive for take time to achieve. But we have to persevere and believe in what we’re doing. If we didn’t believe and didn’t have the sense of purpose that we have cultivated, we wouldn’t have built our fantastic team or created this entity. So, purpose truly does sit at the very heart of the FIAU – we wanted to make Malta a safer place from an anti-money laundering (AML) and a combatting the financing of terrorism (CFT) perspective, and I am pleased to say that we have.”

Kenneth – whose career has so far taken him from audit firms in the private sector to audit roles with the Government and, most recently, to his position within the FIAU – stresses that his whole leadership ethos is based on purpose.

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INSIGHT

“The public and private sectors must work together to act on the lessons learnt in the last few years. The private sector should not move ahead while the authorities stay behind, and all stakeholders should be on par to avoid repeating mistakes. We must move forward not back.”

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Purpose truly sits at the very heart of the FIAU – we wanted to make Malta a safer place from an AML and a CFT perspective, and I am pleased to say that we have.

Making Malta safer from financial crime was among the goals the FIAU was set up to achieve when it was founded in 2002. It is our island’s national central agency responsible for the collection, collation, processing, analysis and dissemination of information to combat money laundering and the funding of terrorism. And, though set up as an agency within the ministry responsible for finance, the unit has a separate judicial personality and operates autonomously from its own offices, with its own staff.

That said, a lot has changed for the organisation in the last four years, particularly – and notably – since the Pilatus Bank breach of EU law in 2018.

“All the changes we’ve made have evolved around the fight against money laundering and the funding of terrorism – from understanding the risks within the sector to taking effective enforcement action to drive compliance,” Kenneth continues. “That includes the development of our Compliance and Supervision Platform for Assessing Risk, which is known as CASPAR, and which has been instrumental in helping us make huge strides forward.”

And then came the unfortunate moment when Malta was placed on the Financial Action Task Force (FATF) grey list 187

and the FIAU was one of the main authorities tasked with getting the country off it. “Being placed on the grey list had a huge impact on Malta and we knew that the implications would be far-reaching,” the Director continues. “We were told by numerous companies working on the island – including those in the iGaming and financial spheres – that they could ride out the grey list for 18 months but no more. After all, the reputational impact on our country was significant, including at Government level. So, we had a serious deadline on our hands, and it became the top priority for everyone.”

And humble though Kenneth is, no one can deny the very successful job the FIAU did of achieving its goal – not by the 18-month deadline that many saw as critical, but ahead of ‘schedule’ in just one year. “It was an almost-impossible task,” Kenneth admits, reflecting on the long hours and weekends that the FIAU invested into their goal. “But we had a clear direction and knew where we wanted to get in terms of the implementation of our action points. Our team’s passion, commitment, expertise and constant support were exemplary.”

He also cites the consummate coordination between the authorities and the private sector as another contributor to the successful result. “Together we really had to demonstrate that the situation had improved in that 12-month period, to ensure the assessors knew that things would be tangibly different and not just appear so on paper. All the stakeholders pulled their weight and the results speak for themselves.”

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

And with that mammoth result behind them, Kenneth says he and his team are now committed to maintaining the level of effectiveness they have collectively achieved to keep moving. “We are in the unique position of having ticked the 100 per cent mark as we climbed that mountain,” he says. “We made the impossible possible by implementing drastic change throughout. And now we must retain that standard going forward. After all, other important reviews are coming our way and we must never find ourselves in the same position; it just cannot happen again.”

Quick-fire Questions… with Kenneth Farrugia What is your favourite part of the working day?

My first coffee as I walk through our offices checking in on the team.

Developing a clear four-year strategy is also front-ofmind for all at the FIAU, with key pillars and a focus on keeping the unit effective and at the forefront of its sector. “Other jurisdictions are now looking to Malta as a point of reference, which is an excellent result. We want to stay on this path, so that the island’s reputation continues to be restored and it is once again seen as a very safe place to do business.

We hope this will help us attract the new, legitimate business that will power Malta’s positive development into the future.”

Who do you most admire in the global business sphere?

Professor Bill George from the Harvard Business School – an expert in authentic business leadership and the author of Discover Your True North.

When it comes to running your organisation, what is your best habit?

I am hands-on and well-versed in our subject matter.

And your worst?

Occasionally venting my frustrations on the people closest to me.

But it isn’t just the FIAU that Kenneth believes needs a strong strategy, but the nation as a whole. “The public and private sectors must work together to act on the lessons learnt in the last few years. The private sector should not move ahead while the authorities stay behind, and all stakeholders should be on par to avoid repeating mistakes. We must move forward not back.”

What’s a hobby that’s been with you since childhood?

Gardening and fishing.

Would you time travel to the past or the future? When and why?

I am quite happy with the present.

What attributes do you value most in your team?

Commitment, loyalty and motivation.

And with this in mind, the Director is looking towards 2023 with resolute focus. Among the plans already in place, the unit will move to new premises to reflect its recent growth in human resources from 24 officers in 2017 to 136 to date. “And we hope to get to 174,” Kenneth says. “Of course, the move is a challenge, what with all the security concerns; so we are planning it very carefully. Meanwhile, effective automation is also top of our agenda, and our main objective is to automate our processes as much as possible in the next few years to help us with consistency, information security and better data management.”

Is there a talent you’d like to have but don’t?

Being more disciplined in my work-life balance.

What has been the greatest milestone in your career so far?

Getting Malta off the FATF grey list.

WhatsApp – a useful tool or the bane of your existence?

Like most tools, a bit of both!

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

And on top of that, the FIAU will also be synchronising the roles and responsibilities of its substantial team, to identify any risk areas and adjust accordingly.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Not to be afraid; to go and have experiences, including internationally.

“We know exactly where we need to be in the next few years and we are all working towards clear goals,” Kenneth stresses. “And I will say this again: it is a thorough team effort. We have managed to achieve a lot but it’s not about me – it’s about the whole team.

We’re not perfect but we are trying to do our best in terms of excellence, which is why we are coordinating with all stakeholders to make this a joint drive to succeed.

What is one skill you would like to develop in 2023?

Becoming more diplomatic.

History is repeating itself. True or false?

True, it’s always a cycle.

The world’s biggest priority right now should be…?

Global warming.

If you could only focus on one project in 2023, what would it be?

Maintaining what we have managed to achieve.

“It is heart and purpose that have served us well on our mission so far, and which will continue to drive our mission into the future,” he adds.

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Arnaud Denis

CEO, MEDIRECT

“ WE WA N T TO C H A N G E T H E WO R L D O F I NVE ST I N G .”

E M P OWE R I N G C U STO M E R S TO N AVI G AT E T H E WO R L D O F I NVE ST M E N T WI T H C O N F I D E N C E , M E D I R E C T I S A PA N - E U R O P E A N B A N K A N D A O N E - S T O P S H O P FO R I NVE ST M E N TS , S AVI N G S A N D M O RTG AG E S . A S C E O AT M E D I R E CT S I N C E 2019, ARNAUD DENIS CHANNELS HIS DECADES OF BANKING EXPERIENCE AND H I STO RY O F R E TA I L D I G I TA L B U S I N E S S T R A N S FO R M AT I O N TO B OT H L E A D T H E B A N K FO R WA R D A N D PI O N E E R T H E F UTU R E O F T H E F I N A N C I A L S E CTO R .

For Arnaud Denis, life has two key ingredients: people and passion. Whether it’s building and nurturing teams as CEO of MeDirect or creating something new for customers, giving people the chance to learn and grow through his characteristic ‘joie de vivre’ has become something of a career signature.

and evangelise the company vision. We want to change the world of investing.”

Living this ethos throughout his more than 25 years of international experience in banking and finance, Arnaud’s career has circumnavigated the globe and absorbed cultures. “I have had a full career evolution through travel, which has been interesting from a cultural standpoint. In every location worldwide, I have been lucky to grow lasting friendships,” he continues, referring to key positions on his resumé including as First Deputy CEO of ROSBANK Group, Société Générale’s Russian retail platform; CEO of Eurobank SA, the Polish subsidiary of Société Générale; and MD in Société Générale’s Fixed Income division based in New York.

“Our most precious assets are our people and the tech we use to serve our clients. I believe in what I do, and I try to convey that passion and enthusiasm so that others can feel the same,” he says.

“As a CEO, if you don’t succeed in building teams, success will not follow. Only through teamwork, solidarity and transparency can we realise our mission to help customers. Everyone in the organisation has an impact on the experience of a customer – and I have always had a customer experience obsession! At MeDirect, our flat organisational set-up allows our 350 team members to communicate, exchange business ideas, discuss problems

Arnaud blends knowledge of the traditional financial system with a uniquely creative mind and a keen sense of intellectual curiosity – transforming him over the years from banker to tech pioneer. “Although my career has 190

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“As a CEO, if you don’t succeed in building teams, success will not follow.

Only through teamwork, solidarity and transparency can we realise our mission to help customers.”

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With every experience, I have managed challenges, achieved goals and looked to the future.

But my landmark career moment is always today. spanned both the banking and technology sectors, one common aspect of every role has been building new businesses and transforming existing ones. With every experience, I have managed challenges, achieved goals and looked to the future. But my landmark career moment is always today.”

While he has undergone his own career transformation, he has specialised in guiding businesses to do the same, particularly in the digital sphere – not least MeDirect itself, which he has turned from a medium-sized traditional bank into a digital champion in a few years.

Acquired by private equity firm AnaCap Financial Partners in 2009, the company spent the next five years raising online deposits in Malta and establishing an international corporate lending portfolio. Between 2015 and 2018, its Belgian branch obtained a banking licence and the MDB Group – which MeDirect forms part of – joined the Single Supervisory Mechanism, involving direct supervision by the European Central Bank in partnership with the MFSA and the National Bank of Belgium. MeDirect registered Client Financial Assets as above €3 billion at the end of 2018. Then, with the appointment of a new management team in September 2019 – including Arnaud as CEO – the company launched a fresh WealthTech-driven strategy, including a balance sheet transformation from international corporate lending to residential mortgage lending, starting with Dutch Government-guaranteed mortgages.

“When I joined MeDirect, I hoped to implement a client strategy that built towards something more meaningful

than raising deposits in Europe, as had been the bank’s previous model,” he goes on. “Shaped around empowering clients and growing their confidence in the investment process, this strategy opens the doors of investment to more people and bridges the gap with a low entry requirement.

But when it comes to investing, most clients today are lost.

The process is anything but simple, with pain points along the customer journey unless you are an expert or trader. So, we built an online, one-stop shop WealthTech platform that offers both investment and daily banking products, with a simple range of wealth solutions for them to choose how to grow their money. Our goal is to become the Maltese online digital champion.”

MeDirect’s investment solutions universe translates the bank’s distinct mission of customer empowerment into its simple, innovative and user-friendly products. Through the MeSolo product, customers can steer their own investments, taking advantage of the open architecture worldwide market – with over 850 funds, 400 ETFs and 3,000 stocks – to find investments fitting their needs. Should the customer want MeDirect to manage their money, they could instead choose the MeManaged module, whereby the experts at MeDirect can pursue the investment opportunities on their behalf. Finally, when launched in the early part of 2023, MeGuided will operate as a brokerage-style portfolio builder.

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Marking one of its most recent milestones, the online platform and retail mobile app also earned MeDirect Bank Malta the Best Use of Technology in Business Transformation category at the 2021 eBusiness Awards organised by Tech.mt, which celebrate the most innovative technological initiatives in Malta’s eBusiness community.

Meanwhile, another key niche Arnaud has keenly explored at MeDirect is that of mortgages. “For clients, this is a must-have, green, synergistic product, which promises to implement new standards of customer service on the island,” he elaborates. “We can offer a commercial quote within 24 to 48 hours instead of two to three months, which is the current norm in the Maltese market.”

Quick-fire Questions… with Arnaud Denis What is your favourite part of the working day?

Any time!

Who do you most admire in the global business sphere?

Olivier Goy, a French entrepreneur and a humanist.

When it comes to running your business, what is your best habit?

Being accessible to my teams.

Among MeDirect’s core values, sustainability is high on Arnaud’s agenda. In recent years, the company has transformed its business model to one with lowcarbon emissions, reducing office space and investing in digital and automated solutions to improve operational efficiency and decrease environmental impact. MeDirect’s sustainability efforts have then been validated through an overall score in the top 15 per cent of the more than 85,000 companies rated globally by EcoVadis, one of the world’s most trusted providers of business sustainability ratings.

And your worst?

Impatience.

What’s a hobby that’s been with you since childhood?

Music.

MeDirect’s product range also reflects its ESG goals, Arnaud explains. “Customers who apply for our Green Home Loans receive a better interest rate than that of a normal home loan, as they are contributing to energy-efficient homes,” he says. “MeDirect has also launched its Sustainability Filter for Investment Products, which investors can use to identify and filter funds and ETFs that focus on sustainability, as per the EU Sustainable Finance Disclosures Regulation.

This classification increases transparency through light green funds, which promote environmental or social characteristics, or dark green funds, which have sustainable investment as their main objective.”

With such clarity of vision, the curveballs that continued to impact international industry throughout 2022 did little to derail MeDirect’s course. “Our job is to manage uncertainty and rapidly changing markets, so nothing changed,” Arnaud confirms. “In fact, the bank’s greater focus on digitalisation created opportunities more than challenges. We were able to roll out our Pan-European and B2B strategy to position ourselves as a clear digital leader, boosting brand awareness and building strategic partnerships with other players.”

Would you time travel to the past or the future?

When and why?

Past – all my ancestors were pioneers who explored new worlds in North Africa and Asia, as well as some who settled in Malta. I’d like to understand how they lived.

What attributes do you value most in your team?

Respect.

Is there a talent you’d like to have but don’t?

Patience.

What has been the greatest milestone in your career so far?

It is still to come.

WhatsApp – a useful tool or the bane of your existence?

Useful tool, offering fast communication and connectivity.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Feel free to take risks.

What is one skill you would like to develop in 2023?

Gain a deeper understanding of the latest technologies.

Looking forward, 2023 promises more of the same at MeDirect. “Digitalisation will increase, as will interest in cloud computing, data storage and, of course, AI,” Arnaud predicts. “We will keep improving the mortgage process and Malta’s financial services sector in terms of data and AI, as this will affect how foreign investors perceive the island in the future. And as ever, we will work towards further personalisation of our customer experience and expand our product offering on the platform. Our launch of virtual and physical bank cards in the near future to complement our online platform will transform us into a daily bank. And that will be a game-changer!” the CEO reveals in conclusion.

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History is repeating itself. True or false?

To quote Mark Twain: “History doesn’t repeat itself, but it often rhymes.”

The world’s biggest priority right now should be…?

To think about our children and their future in our every decision.

If you could only focus on one project in 2023, what would it be?

To remain healthy.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Mark Attard

CEO, B D O M A LT A

“ N E V E R L O O K B A C K ; A LW AY S L O O K F O R W A R D T O WHERE THE ECONOMY IS GOING.”

F O L L O W I N G T H E S A M E C A R E E R PA T H A S H I S F A T H E R A N D G R A N D F A T H E R , B D O M A LT A C E O M A R K A T T A R D Q U A L I F I E D A S A C E R T I F I E D P U B L I C A C C O U N T A N T A N D P U R S U E D A C A R E E R O U T S I D E T H E F A M I LY B U S I N E S S B E FO R E J O I N I N G B D O, A G LO B A L O R G A N I S AT I O N WI T H R E PR E S E N TAT I O N IN 167 COUNTRIES AND REVENUES IN EXCESS OF € 11 BILLION. MARK’ S D E T E R M I N AT I O N TO EXC E E D EXPECTAT I O N S , H I S CO M M I T M E N T TO IMPLEMENTING CUTTING-EDGE TECHNOLOGY AND HIS CONTINUOUS I N V E S T M E N T I N H I S T E A M H A V E C O N T R I B U T E D T O B D O M A LT A R E P O R T I N G O V E R 1 4 P E R C E N T G R O W T H P O S T - PA N D E M I C .

As CEO and International Liaison Partner at BDO Malta, Mark Attard develops business strategies and plans for the firm’s short- and long-term objectives. He also leads the gaming advisory and gaming licensing service line. During his tenure, he has spearheaded significant client projects across different industries, helping clients to start up or relocate their businesses to Malta.

father in his office in Valletta. He is a certified public accountant too. It’s in my blood and part of my DNA.” Mark explains that his best career move so far was to join BDO after spending several years working in the wider industry. He eschews the stereotype of the introverted accountant, leaning firmly towards extroversion. He enjoys networking and interacting with people and clients who have the same mindset.

He says that transitioning from industry to leading a major corporate consulting firm required only a minor change to his management style.

“At the tender age of five, I started learning accounts before maths,” he says. “As a kid, I was constantly exposed to business and finance, sitting next to my 194

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CEO INSIGHT “While many look towards others, we try to think outside the box.

That’s what sets us apart from our competitors.”

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We support our clients with our institutional knowledge, helping them to focus on their core business to ensure they succeed. We allow them to do what they are best at, and they let us do the rest. needs him and constantly going from one meeting to the next mean he must manage his time efficiently. This has compelled him to set a strict end to each working day, which has become especially important since his wife gave birth to their first child recently.

Dedicating so much of his time to the firm is, he believes, part of its success. However, he admits, “an open-door policy is not great for time management. That said, getting the balance right helps you be more productive in the office and focused on the firm’s priorities.”

“BDO is a people firm,” he continues. “I feel like I am the father figure and mentor to our staff, many of whom have been with us for a very long time.”

With this in mind, BDO introduced hybrid working and flexitime this year, allowing staff to fit work around family obligations and their preferred lifestyle. The rationale for this move to the ‘new normal’ is Mark’s belief that people are more committed to their work and their output is more efficient when working remotely. He emphasises the importance of developing a strong and knowledgeable team, and creating a safe work environment where people feel nurtured because this will enable their talent to flourish. And he considers work practices more important than business awards.

Switching his attention to the sector, Mark explains that pre-pandemic, consulting industry revenues topped €160 billion, but there was a drop by as much as 28 per cent in Europe due to COVID-19. BDO Malta reported over 14 per cent growth in 2021, materially higher than the group’s global result, which grew just shy of 11 per cent.

“When I joined nine years ago, we were 13th in our sector; today, we are fifth,” Mark notes. He puts this exceptional performance down to his team’s commitment, adding that rather than being discouraged, they fought back.

“This was the first step for us,” he says. “We now grant our international staff the possibility to spend another four weeks at home with their families. During this time, they work remotely.”

The headwinds caused by the pandemic and lockdowns forced many business leaders to reimagine their businesses, innovate, implement fast-track digitisation, and rethink how staff worked and communicated. Mark is one of them, elaborating, “the pandemic changed our clients’ requirements and we needed to change too and be more proactive. It pushed us. We needed to

However, on a personal level, he admits that achieving work-life balance is a challenge. Maintaining an opendoor policy, making himself available to everyone that 196

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safeguard the business and be sensitive to our clients. We bucked the downward trend by finding new methods of communication, supporting customers during their worst times and showing solidarity.”

As a result of this strategy, Mark believes his clients are more loyal and trusting than ever. Meanwhile, new technology introduced by BDO during the pandemic broke down barriers and facilitated closer client communication. Stronger client relationships developed, enabling BDO to better position businesses for the future.

More face-to-face meetings now take place and Mark contends that these physical sessions create lasting bonds with clients.

Due to its size, rapid growth and a dynamic economy, Mark now focuses primarily on strategy. Working with the leadership team, he ensures clear goals, milestones and success measures are set. With over two-thirds of BDO Malta’s revenue derived from auditing, accounting and compliance, it faces intense competition from the ‘Big Four’. But the CEO tends not to look too much at competitors, preferring to maintain a positive mindset and use market analysis to determine what the market wants. By creating services to meet the market’s needs, he says BDO can maintain its forward trajectory.

Quick-fire Questions… with Mark Attard What is your favourite part of the working day?

Visualisation of production at the end of the day.

Who do you most admire in the global business sphere?

No one in particular.

When it comes to running your business, what is your best habit?

An open-door policy.

And your worst?

Not prioritising.

What’s a hobby that’s been with you since childhood?

Water polo.

“Never look back; always look forward to where the economy is going. Rather than being a follower, become a leader. While many look towards others, we try to think outside the box, and that’s why we are ahead of our competitors in some areas,” he adds.

Would you time travel to the past or the future?

When and why?

Future – I’m always curious to know what is coming.

As a global firm, BDO relies on the people it hires to transfer their knowledge to clients. “We invest in the right people and our clients appreciate the opportunity to collaborate with us, knowing that we are guiding them down the right path,” Mark continues.

Is there a talent you’d like to have but don’t?

Playing a musical instrument.

In pursuit of differentiation, efficiency and the delivery of added value, Mark explains that BDO will continue its drive to adapt and transform its exceptional client services through the application of powerful new technologies.

But Mark, despite this, believes that AI will never entirely replace human intuition, ingenuity and logical thinking.

In fact, he believes that the consulting sector will continue its strong growth trajectory in the two years to come, while his vision for the company for the next two years is international growth and the consolidation of the business.

He adds that blockchain technology has proven to be robust and foresees its continued use. However, he expects cryptocurrencies to become more regulated so that they can be used more widely and further develop to allow processes online.

In the future, BDO Malta will continue to offer services to tech-related businesses. BDO’s drive is now to expand into new sectors in regulation technology compliance. Mark looks ahead to a more “positive view of the sector in the coming years.”

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What attributes do you value most in your team?

Loyalty, respect and commitment.

What has been the greatest milestone in your career so far?

Moving to BDO. WhatsApp – a useful tool or the bane of your existence?

I use it for personal reasons only.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Choose a career you love.

What is one skill you would like to develop in 2023?

Grow my networks.

History is repeating itself. True or false?

Constantly, especially in the economy.

The world’s biggest priority right now should be...?

Being more united.

If you could only focus on one project in 2023, what would it be?

International growth.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Christabelle Camilleri

CEO, V&C GROUP

“ Q U I T T I N G I S N OT I N M Y N ATU R E .”

S I N C E S H E J O I N E D V& C G R O U P A S F I N A N C E M A N AG E R , C H R I STA B E L L E C A M I L L E R I H A S W O R K E D H E R W AY U P T H E L A D D E R . T O D AY , A S C E O , S H E D R IVE S T H E B U S I N E S S WI T H PR U D E N T D E T E R M I N AT I O N A N D A C L E A R VI S I O N C E N T R E D O N D IVE R S I F I CAT I O N .

embrace her vision to diversify the business, thus entering markets outside of their commercial comfort zone. From then on, diversification became the beating heart of Christabelle’s overall vision for the firm.

Christabelle Camilleri has always been upfront about her initial reluctance to join her family’s business. Founded in 1992, V&C Contractors was a small, low-key construction company which eventually became a leading name in the sector, yet, the young and enterprising Christabelle was not particularly tempted to jump on the family’s bandwagon in its original form.

“As we grew, diversification became a no-brainer. It is not just a matter of not putting all one’s financial eggs in one basket. More crucially, when it’s done prudently and smartly, diversification imparts stability and a sense of structure and process to a group on the move like ours,” she smiles.

It comes as no surprise then, that the CEO considers the moment she changed her mind as the first major milestone in her professional life.

Since first joining V&C as Finance Manager, Christabelle has worked her way up the ladder, taking on the roles of Group CFO, COO and, most recently, Group CEO. Speaking of her role, she asserts that, in a fast-changing world, it is not enough to know what the client’s needs and preferences are today. It

She describes it as “a split-second moment in which I came face-to-face with my destiny, with what I was meant to do for a living.”

Her second landmark moment, once she had joined, was managing to persuade the group’s board to

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CEO INSIGHT “As we grew, diversification became a no-brainer. It is not just a matter of not putting all one’s financial eggs in one basket.”

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How is the CEO-mummy combo coming along? Let’s just say, I’m slowly learning the ropes and loving every second of it.

is equally important to know where they will be heading tomorrow, and the day after that.

“To remain on the ball and to peer beyond the horizon, I source as much information as I can, both locally and internationally. I do my best to gather insights and to connect the dots at various levels, to figure out the best way forward for our group’s performance in every market we are in,” she maintains.

Christabelle says that being the CEO of a group of companies with a presence in a range of markets requires her to be “mentally agile, to think at the cutting edge of creativity, and to quickly switch concentration from task to task.” Above all, however, what she enjoys most is seeing an idea come to fruition. “I enjoy driving what might have been an idea that pops to mind at breakfast to its realisation and completion. I just love the adrenalin rush of it all.”

Being a young, female entrepreneur comes with its own set of challenges, yet the CEO is adamant that, “although the ideal of full equality between men and women in business still has to be reached, we have to acknowledge that we women have made great strides forward. I am convinced that we will continue to do so.” Stating her preference to focus on “getting the job done in the best possible way,” Christabelle admits that she doesn’t factor in her gender when approaching any particular initiative or task.

This perspective will certainly serve the new mum in good stead, as she works to find the right balance between her business and personal life following the birth of her first child with husband

Jordan. “Valentina has brought a type of joy to our lives that neither of us knew existed. Sometimes, as she looks at the world around her with such intense curiosity, gentleness and helplessness, we are left speechless and in total awe,” Christabelle gushes. “It is truly wonderful to be a mother.

How is the CEO-mummy combo coming along? Let’s just say, I’m slowly learning the ropes and loving every second of it.”

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which she follows avidly. “It fascinates me how trends surprisingly ebb and flow, artistically twist and turn, giving pleasure to the world along the way. Life is so much more enjoyable because of the colour, in every sense, that fashion adds to it,” she smiles.

But when it comes to her entrepreneurial journey, were there moments she wanted to quit? Her reply is unequivocal. “Quitting is not in my nature.

I learn from mistakes; I tweak plans to improve things and there were even times when I had to rethink ideas and processes from scratch. But quitting is never an option that comes to my mind.”

Quick-fire Questions… with Christabelle Camilleri What is your favourite part of the working day?

Spending time with my staff and colleagues.

Who do you most admire in the global business sphere?

Mark Cuban of Shark Tank fame.

And as the immediate post-pandemic years continue to throw curveballs at businesses across industries, it is a mantra that has served her well.

“Today’s ‘normal’ is unrecognisable compared to pre-2020. The pandemic, climate change, the war in Ukraine, energy prices, global inflation, transportation costs and troubled logistics have had massive impacts on our present and immediate future,” says V&C Group’s CEO, who took it upon herself to deal with this paradigm shift by doing two things simultaneously.

When it comes to running the business, what is your best habit?

Being a perfectionist.

And your worst?

Being a perfectionist.

What’s a hobby that’s been with you since childhood?

Formula 1.

“On the one hand, I had to think on my feet to address the new challenges of the here and now, firefighting new scenarios that popped up almost on a daily basis. On the other, I tried to anticipate what other challenges and opportunities were gathering speed and momentum on the horizon,” she reveals.

In fact, while V&C Group was hit by the pandemic like any other business, the CEO affirms, “we didn’t just twiddle our thumbs and wait for it to blow over. We used the time to take a good look in the mirror as well as peer through the window to get a glimpse of the future. We worked hard, changed things and introduced new processes in order to be ready to sprint once the pandemic subsided. To a very large extent, I am happy to say, the strategy worked.”

Would you time travel to the past or the future?

When and why?

Future – I try to live my life with no regrets as it’s useless dwelling on the past.

What attributes do you value most in your team?

Honesty.

Is there a talent you’d like to have but don’t?

Absolutely! Playing tennis.

What has been the greatest milestone in your career so far?

Joining the family business.

WhatsApp – a useful tool or the bane of your existence?

It’s useful.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Dream big but with both feet on the ground.

Looking ahead, Christabelle’s plans for the business continue to centre on diversification, so as to consolidate and grow what is working and adapt its management structures and processes to back up and drive both.

What is one skill you would like to develop in 2023?

To be a mum that works. Get it?

Finally, reflecting on the opportunities and challenges that await on the horizon, she adds, “at the top of today’s economic and financial agenda are the realities of start-ups, market disruptors, alternatives to traditional banks, ‘money’ (say, a cryptocurrency) which is not tied to a country, and other completely new kids on the block. I embrace all these trends but do so with prudence. I would like to think that I see the opportunities they open up for us as clearly as I see the pitfalls.”

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History is repeating itself. True or false?

False – history itself proves it.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

The internationalisation of two of our brands.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Geraldine Spiteri Lucas

CEO AND R E G I S T R A R , M A LT A BUSINESS REGISTRY

“ M Y M O T T O I S T O A LW AY S W O R K A S A T E A M . A L O N E Y O U CANNOT DO MUCH, BUT AS A TEAM WE CAN WORK WONDERS .

T H A T ’ S T H E O N LY W AY W E C A N S U C C E E D . ”

DR GERALDINE SPITERI LUCAS TOOK ON THE ROLES OF CEO AND REGISTRAR O F T H E M A LT A B U S I N E S S R E G I S T R Y J U S T T W O Y E A R S A F T E R B E I N G A P P O I N T E D I T S C H I E F L E G A L O F F I C E R . N E E D I N G T O Q U I C K LY N A V I G A T E A P E R I O D O F I N S T A B I L I T Y D U E T O T H E PA N D E M I C A N D M A LT A ’ S F A T F G R EYL I ST I N G , G E R A L D I N E L E D T H E O R G A N I S AT I O N A N D I TS STA F F TO A P O S I T I O N O F G R E AT E R ST R E N G T H .

The Malta Business Registry (MBR) is the Government agency responsible for the registration and regulatory compliance of companies and commercial partnerships, companies and other legal persons such as foundations and associations. It is also responsible for conducting investigations of companies and maintaining Malta’s

company and partnership register, among others.

Geraldine’s background as a lawyer at a leading law firm prepared her well for the role of CEO at the MBR, which requires endless hours poring over legal documents. “I believe that being a lawyer is an advantage in some cases.

That said, it can also be irritating to those around me who 202

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“I believe that if an employee feels close to their leader, they are more motivated to give 100 per cent in their job. They are aware that I have my own struggles, so they know that I can sympathise with theirs.”

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have to put up with my fastidiousness,” she says with a smile. “I’m used to vetting documents thoroughly before signing them, and so I inevitably sometimes find a word that does not have the specific meaning needed. Being precise matters.”

Despite her young age, Geraldine has a lot to be proud of.

In fact, one of her proudest achievements was the creation of the Companies Act (Register of Beneficial Owners) Regulations – a law that combats financial crimes like money laundering, fraud and tax evasion. “I worked on it from its very inception and contributed to its creation,” says Geraldine. “When drafting the law, I was met with a lot of opposition because many believed it would kill businesses.

However, practitioners are now fully on board, so it makes the result even more rewarding.”

When reflecting on the difficult time Malta experienced over the past few years, the CEO acknowledges that the COVID-19 pandemic was challenging for everyone, including the MBR. Yet, another significant event proved even more challenging for Geraldine and her colleagues.

In June 2021, the Financial Action Task Force (FATF) greylisted Malta after it concluded that the country was not doing enough to tackle financial crime. Just one year later though, Malta was removed from the grey list, and since the action plan centred around the Law of Beneficial Ownership, the MBR played a pivotal role in Malta’s return to the white list.

“The most rewarding moment of my career was when Moneyval acknowledged that the Law of Beneficial Ownership in Malta was largely compliant, and when Malta was removed from the grey list after the MBR actioned the action plan provided by the FATF,” explains Geraldine.

“We worked night and day to remove Malta from the grey list within one year. During that time, seeing a drop in companies redomiciling out of Malta only motivated me to work harder to get Malta off the grey list as quickly as possible.”

Assuming the role of CEO during this critical period allowed Geraldine to spot weaknesses and work to eliminate and mitigate them. “Now is the right time to focus on removing the excessive red tape and make it easier for companies to work in Malta. As things stand,

Getting the job done is important, but so is our employees’ well-being. For this reason, we encourage afterwork events and team-building activities, and we also make it a point to give our employees the option to work flexible hours.

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we cannot compete with other jurisdictions, so a steering committee has been set up to find a way to streamline processes across our different authorities,” she says.

“Communication between authorities also needs to increase, which is another lesson we learnt during the greylisting period. And as challenging as both the pandemic and the greylisting were, these lessons became even more significant when contending with the effect of the war in Ukraine.”

Quick-fire Questions… with Geraldine Spiteri Lucas

Although her role as Registrar is a supervisory rather than an operational one, Geraldine wants to make it as easy as possible for companies to submit documents to the MBR. “We are currently working on an online digital system that will make submitting easier for companies,” shares Geraldine.

“However, we also need to invest in education. The private sector needs to understand what it is liable for if it does not adhere to its obligations under the Companies Act. Our main role is not to impose or recover penalties, but to provide an efficient portal containing all the information available on all businesses.”

What is your favourite part of the working day?

Speaking to staff in the morning.

Who do you most admire in the global business sphere?

Steve Jobs.

When it comes to running your organisation, what is your best habit?

Passion and energy.

And your worst?

Perfectionism.

Despite her determination, Geraldine is very aware of the high-stress environment in which her staff works. “The emails never stop and the phone is constantly ringing,” she says.

“Getting the job done is important, but so is our employees’ well-being. For this reason, we encourage after-work events and team-building activities, and we also make it a point to give our employees the option to work flexible hours. And I want every member of staff to feel confident when taking advantage of these opportunities.”

What’s a hobby that’s been with you since childhood?

Playing the trumpet.

Would you time travel to the past or the future?

When and why?

The future, to see what’s in store for my son.

What attributes do you value most in your team?

Dedication and commitment.

Empowering employees is something that Geraldine encourages at every turn. In this regard, the MBR has noted a marked increase in the number of employees who are now willing to go out and give presentations regarding the organisation and its work. “We then upload these presentations on social media, which gives our employees a sense of achievement,” says Geraldine. “The MBR also has the HR equality mark, which is very important to us because it reflects the equality that we promote on a daily basis at work.

We also have a lot of family-friendly measures in place, which improve employee performance.”

Is there a talent you’d like to have but don’t?

Painting.

What has been the greatest milestone in your career so far?

The Law of Beneficial Ownership and getting Malta off the grey list.

WhatsApp – a useful tool or the bane of your existence?

The bane of my existence!

Do you focus best in complete silence, with background noise, or while listening to music?

Probably instrumental classical music.

No matter how full her days are, Geraldine tries to spend the first half an hour of every working day going around the office speaking to employees. Sometimes they talk about ongoing projects; other times they chat about their personal lives. “I believe that if an employee feels close to their leader, they are more motivated to give 100 per cent in their job. They are aware that I have my own struggles, so they know that I can sympathise with theirs,” she says. “My motto is to always work as a team. Alone you cannot do much, but as a team we can work wonders. That’s the only way we can succeed.”

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Involve yourself in more extracurricular activities.

What is one skill you would like to develop in 2023?

Becoming more tech-savvy.

History is repeating itself. True or false?

True.

Looking ahead to 2023 and beyond, Geraldine’s focus is on creating and maintaining seamless processes for those doing business in Malta. “Nobody knows what the future holds, but I think financial services, gaming and banking will be in a better position as 2023 progresses. So, if we are going to be competitive as a jurisdiction, it is essential that we have an online system that facilitates submitting for companies,” she insists. “We also need to make all the necessary changes quickly in these months following the greylisting.”

The world’s biggest priority right now should be…?

Climate change and the environment.

If you could only focus on one project in 2023, what would it be?

The MBR’s digitisation process to reduce paper and help the environment.

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Rebecca Bonnici

OWNER AND CEO, BELS ENGLISH LANGUAGE SCHOOLS

“I AM A DOER. I LOVE GETTING MY HANDS DIRTY TO G E T H E R WI T H M Y STA F F.”

R E B E C C A B O N N I C I H A S A LW AY S F O L L O W E D H E R H E A R T . F R O M G E T T I N G H E R F I R ST TAT TO O AT 1 8 TO D R O PPI N G O UT O F U N IVE R S I T Y A F T E R T H R E E MONTHS, SHE IS DETERMINED AND UNAFRAID TO BREAK WITH CONVENTION – Q UA L I T I E S T H AT H AVE S E R VE D H E R WE L L I N R E C E N T YE A R S . T H E T I R E L E S S O W N E R A N D C E O O F O N E O F M A LT A ’ S M O S T R E S P E C T E D E N G L I S H L A N G U A G E S C H O O L S H A S W E A T H E R E D T H E S T O R M O F T H E PA N D E M I C A N D C O M E O U T EVEN STRONGER THAN BEFORE.

Rebecca found her calling early on in life. A course in Teaching English as a Foreign Language (TEFL), which she pursued to teach English as a summer job, unexpectedly led to a stellar career. “My father had a cardboard manufacturing company, and from the age of 13, I’d go to the factory with him in summer to help with administrative work, but when I started university, I quickly learned that teaching English is what truly stimulated me. At university, I opted to read for a degree in International Relations and French, but despite loving French, Molière was just too much for me!” she jokes. “So, I dropped out after just one semester.”

She turned to the English language school where she had studied how to teach English as a foreign language. “Two days later, I was in a classroom teaching five Libyan men,” she says. “I returned to university a year later and completed a degree in Communications. After that, I continued to specialise in teaching English as a Foreign Language at a Master’s level.” While at university, Rebecca’s father opened the first BELS school in Gozo, where she originally worked part-time in administration and marketing. These days, she describes her multifaceted role as a mix of PR and HR, requiring her to be both listener and peacekeeper. “Most of all, I am a doer,” she says. “I love getting my hands dirty together with my staff.”

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CEO INSIGHT “We greatly acknowledge the importance of client satisfaction and have a return rate of just under 20 per cent.

Our ethos and values trickle down into every service that we offer.”

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I have learnt to multitask less so that I can be more present in what I’m doing.

Initially, the school aimed to focus on teaching business English. “Hence the name, which stands for Business English Language School,” Rebecca explains. “At the time, there were probably about 25 language schools in Malta, and we thought we could run a profitable educational establishment on Gozo teaching only business English. Of course, we learnt the hard way that this was unsustainable. So, although we still specialise in teaching business English, our general English courses are our principal revenue source.”

In fact, the COVID-19 pandemic saw the school return to its roots with a host of new courses in business English aimed at professionals. However, before pivoting and finding a way to make the most of the situation, things were hairy at BELS for a few months. “The lowest point of my career was in July 2021 when we were ordered to close the schools for a third time just as we had started regaining momentum. Sadly, ELT students were largely blamed for bringing and spreading the virus in our country, which was devastating for our sector,” Rebecca shares. “I was exhausted by that point. As it happens, I am also the Chairperson of FELTOM, the Federation of English Language Teaching Organisations Malta, and we had been lobbying for the reopening of English language schools for over a year. Despite considering myself to be apolitical, I had to sit down and negotiate with various Government bodies and the Prime Minister himself, which, for me personally, was not an easy task.”

While the repeated closures meant a huge loss in bookings each time the schools were shut down, Rebecca did not waste any time, and her proactivity paid off. “Within less than three days, we migrated all our in-

country students to our online classes. We had already done all the research and costings as it was our intention to roll out a new product in 2020 – an online school – but the sudden lockdown accelerated its implementation,” she explains. “Embracing the online classroom was one of the first things we did. With no new income on our horizon, we invested in hardware, software and training for the teachers, and upped the internet connections in our student residences to meet the requirements of classroom software, which went beyond simple Zoom calls. Today, we have a fully-fledged online school.”

Before the pandemic, BELS had only ever taught students travelling to Malta specifically to learn English, but Rebecca saw an opportunity in the crisis and turned her attention to people who already resided in Malta and Gozo. “There’s a sizeable expat community on the islands, as well as a need among companies to train their staff, even university graduates, in business English,” she explains. “So, our Director of Studies created over 20 MFHEA (Malta Further and Higher Education Authority) accredited courses in English for professionals.

Today, that accounts for a very respectable chunk of our revenue. We have local companies with Maltese and foreign employees buying courses in English for engineers, and professionals working in aviation, finance and many other industries.”

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The past two years have not only had a lasting impact on the English Language Teaching (ELT) sector, but also on Rebecca herself. She is the first to admit that despite being proud of guiding her schools and many employees through a trying time as an independent business owner, she has changed as a leader. “I got served a big dose of humility, and I think April 2020 marked the first time I cried in front of my staff,” she confesses. “I am very lucky to be surrounded by people who believe in me, both at work and especially at home. My husband and children were amazing during this time. They are my biggest supporters and I know I wouldn’t have got through those 18 months without them.”

Quick-fire Questions… with Rebecca Bonnici What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

CEOs Susan Wojcicki (YouTube) and Maggie Timoney (Heineken USA).

Rebecca admits that the pandemic also taught her to strive for a new level of frugality as a business owner. “It is not easy when you consider quality to be an integral part of what you do. And, as we know, that does not come cheap,” she shares. “However, we have managed to continue delivering quality, both consistently and sustainably. Repeat business is important. We greatly acknowledge the importance of client satisfaction and have a return rate of just under 20 per cent. Our ethos and values trickle down into every service that we offer.”

When it comes to running your business, what is your best habit?

Unending learning and embracing technological opportunities.

And your worst?

Deprioritising my health.

What’s a hobby that’s been with you since childhood?

Reading.

Would you time travel to the past or the future? When and why?

The 1920s’ Women’s Suffrage Movement. I would have loved to be there when women actually started to try to break the glass ceiling.

Looking forward, Rebecca is optimistic but cautious as she talks about the exciting projects that BELS has in the pipeline. “We put together our MFHEA courses for professionals at a time when companies didn’t have a lot of disposable income to spend on their employees’ professional development. Now, our biggest project is to take these courses in business English to new heights,” she shares, adding that although the looming increase in the cost of energy is concerning, there is a bigger issue that is beyond her control.

What attributes do you value most in your team?

Honesty, kindness, loyalty, and humility.

Is there a talent you’d like to have but don’t?

I wish I could dance!

What has been the greatest milestone in your career so far?

Surviving COVID-19 as my company’s leader and Chairperson of FELTOM.

“For me, the greatest challenge at this point is Malta as a destination,” she confides. “We are no longer as attractive as we used to be. The English are setting up schools in Greece and Cyprus that have similar unique selling points when it comes to Mediterranean topography, climate, food, history and culture. We are no longer clean nor organised, and we have no long-term strategic plan for tourism nor education.

So, my biggest struggle lies in attracting tourists and language students to come to our shores because they no longer perceive value for money in Malta. While I can ensure my clients get value for money when they buy a BELS product, the minute they step out of my residences or schools, it’s a different story.”

WhatsApp – a useful tool or the bane of your existence?

The bane of my existence.

Do you focus best in complete silence, with background noise, or while listening to music?

Listening to music, most kinds.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Go with your gut.

What is one skill you would like to develop in 2023?

I want to master meditation.

History is repeating itself. True or false?

True! Consider Spanish flu vs COVID-19, or the Industrial Revolution vs the Digital Age.

As trying as the past couple of years have been, and as challenging as the future looks, Rebecca remains upbeat and proactive. “I have learnt to multitask less so that I can be more present in what I’m doing. Now that my children are more independent, I’m better able to focus while at work, but once it’s school pick-up time, I’m all theirs,” she shares. “I strive to be more about quality over quantity, both as a mother and at work.”

The world’s biggest priority right now should be…?

The planet.

If you could only focus on one project in 2023, what would it be?

Making education accessible to children worldwide.

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Matthew de Giorgio

MANAGING DIRECTOR, GIANPULA VILLAGE

“ I A M C O N S T A N T LY W O R K I N G T O I M P R O V E O U R P R O D U C T , A N D T H AT N EVE R STO P S B ECAU S E T R E N D S K E E P C H A N G I N G .”

FROM HUMBLE BEGINNINGS , GIANPULA VILLAGE HAS GROWN INTO O N E O F T H E S T A N D O U T E N T E R T A I N M E N T D E S T I N A T I O N S I N M A LT A , C O N S T A N T LY I N N O V A T I N G T H R O U G H I T S V A R I E T Y O F V E N U E S , C O N C E P T S A N D O F F E R I N G S . FO R M A N AG I N G D I R ECTO R M AT T H EW D E G I O R G I O, T H E U LT I M A T E A M B I T I O N I S N O T H I N G S H O R T O F E S T A B L I S H I N G G I A N P U L A A S THE VERY BEST NIGHTLIFE COMPLEX IN THE WORLD.

When Matthew de Giorgio last travelled to Ibiza, a not unexpected destination for a man in his line of work, he spent his time relaxing in the north, far from the island’s world-famous nightlife hotspots. “I only went to a club once, to meet someone, but I left after five minutes,” he says with a laugh. In Gianpula Village, the entertainment mecca he has developed and operated for 20 years, Matthew has created a concept that attracts thousands. Yet, he recognises that keeping that going – and growing – means keeping himself at a distance.

Matthew was just 18 years old when he finished his schooling in the UK and decided to forgo university to dive straight into business. At the time, Gianpula – named after the original landowners – was a single small venue. In Matthew’s view, “it had a bit of everything but lacked direction”. In contrast, Matthew’s vision was a clear one. “My aim was to create an entertainment village,” he says. “I felt I could offer Malta something completely different – something it didn’t really have at the time and that nobody was trying to create.”

“I’m highly disciplined, and I have a tunnel vision mentality,” he says. “That’s what got me to where I am today. If you’re not careful, this industry could very easily take you down the wrong path. Yes, it can be fun, but at the end of the day, it’s a business.”

Realising that vision, though, was not immediately straightforward. Still a teenager, Matthew had to quickly earn respect from employees and managers much older than him, some of whom had been with the business for 10 years or more. “There was an older 212

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CEO INSIGHT “Discipline and tunnel vision got me to where I am today. If you’re not careful, this industry could very easily take you down the wrong path. Yes, it can be fun, but at the end of the day, it’s a business.”

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For me, seeing those thousands of happy faces – the crowds, the reviews and social media after a great night; that’s what makes it all worth it.

and nurture new DJs at earlier stages of their careers, including many now-established names like Miss Roberta, Carl Bee and Luke Adams.

There was also a push into the festivals market with Gianpula Fields, fulfilling the vision of a 365-day nightlife hub. Over time, there has even been the development of new brands such as Gianpula Burgers and a merchandise line.

For Matthew, the proudest and most significant moments came when he finally got to see the whole vision come together, first in 2014 with around five venues operating simultaneously, and then in 2022 when that number rose to seven, with festivals in full swing. Along the way there have been other milestones too, including hosting some of the world’s biggest DJs such as Antoine Clamaran and Tiesto, as well as the Gianpula Main Room being named among the top 100 clubs in the world by the International Nightlife Association.

mentality in place and many people couldn’t understand the direction I wanted to push towards,” he recalls. Just a few years into running the business, Matthew even experienced an armed hold-up, which made him question whether he should continue. “I decided to set aside the issues that were on my mind and carry on building the business to get it to where I wanted it to be: creating a different venue year in, year out, and expanding the entertainment village.”

The new Gianpula began as a summer spot but grew quickly, first with different venues for different genres and demographics, then with indoor settings to extend the party into winter. There was also a pool club, as well as smaller capacity venues that allowed Gianpula to diversify its offering 215

“I think the key to our success has been the fact that we’ve created a one-stop shop,” Matthew says. “If people want to opt for a different genre of music, they can just cross the road and go to another. I feel people today, including tourists, see us as a destination rather than just a venue.

Gianpula Village has become a brand in itself, so people come to us without even knowing what’s on that day. They come here and then decide what they’re in the mood for. For me, seeing those thousands of happy faces – the crowds, the reviews and social media after a great night – is what makes it all worth it.”

When the pandemic struck in 2020, the live events sector was among the hardest hit. Like many, Matthew never imagined that the ordeal would last as long as it did. When reality hit, the challenge was how to adapt. “We were very creative in finding ways to keep operating,”

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Matthew explains. “We created a drive-through concept, the Christmas Illuminated Trail, which was a challenge because we had never ventured into the family market. But it proved very successful, and we continued it into year two and now into year three as a walkthrough experience at Verdala. When the Government was only allowing seated events, we also created the fantastic Boozy Bingo concept. People loved it, and although it was entirely a result of the pandemic, it’s continuing now even though the pandemic has eased.”

It was only in 2022 that mass events restarted in earnest and, despite some demographics taking longer to return in numbers, Matthew says business in the summer season was already close to pre-pandemic levels. Nevertheless, things have changed: more people are expecting a cashless experience and looking for less-crowded venues, prompting Gianpula to fit fewer people than it did in the past. “Another thing we’ve got better at is our VIP products,” he adds. “During the pandemic, people got used to lounge bars and table service areas, so when we reopened for mass events, our guests were still asking for these services. It’s a growing trend, and I think we’ve seen that the majority are willing to pay if you offer a good service.”

However, a challenging side effect of the reopening was a sudden influx of events, resulting in an oversaturated summer calendar. “I think several event organisers didn’t do as well as expected because there was too much going on,” Matthew says. “There’s an element of the survival of the fittest and summer 2022 definitely showed that. During the pandemic, the sector managed to work towards a common goal as one, but once we restarted, everyone went their own way. If there’s one thing that should happen now, it’s for everyone to come together again to bring more people to Malta for its entertainment sector. Everyone will be better off because that’s the future.”

This vision of the future is built on Matthew’s observations of the industry’s emerging trends. “I feel festivals are going to take over,” he says. “People want more of an experience. They don’t just want to come to a nightclub, have a few drinks and listen to a DJ playing the normal tracks. They want to see something happen, they want attractions, they want brands, they want to move from one club to another. People are becoming more demanding and expecting more value for money.”

Matthew says one major hurdle to people viewing Malta as a major entertainment destination is that its nightclubs close relatively early compared to competitors elsewhere in the Mediterranean. “I feel that to remain competitive we must extend our opening hours to 5am or 6am, at least for indoor venues,” he says. Staffing remains another issue across the sector, particularly due to delays in the approval of visas for third-country nationals.

Quick-fire Questions… with Matthew de Giorgio What is your favourite part of the working day?

6am, driving home.

Who do you most admire in the global business sphere?

Elon Musk.

When it comes to running your business, what is your best habit?

Discipline.

And your worst?

Delegating.

What’s a hobby that’s been with you since childhood?

Football.

Would you time travel to the past or the future?

When and why?

The past, to correct mistakes.

What attributes do you value most in your team?

Dedication.

Is there a talent you’d like to have but don’t?

I can’t cook to save my life.

What has been the greatest milestone in your career so far?

Keeping the business going for 20 years.

WhatsApp – a useful tool or the bane of your existence?

Useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Music, but definitely not pumping club music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Focus on the present and take life one day at a time.

What is one skill you would like to develop in 2023?

Get better at chess.

Nevertheless, Matthew is optimistic about the industry’s future, and Gianpula’s place within it – not least because the Gianpula Main Room recently ranked 30 among the World’s Best 100 Clubs. “I am constantly working to improve our product, and that never stops because trends keep changing,” he says. “I want to keep moving up the top 100s. Today, the club should be positioned in the world’s top 15, and I truly believe we can get there through hard work and a concerted effort to attract people to Malta as an entertainment destination.”

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History is repeating itself. True or false?

False.

The world’s biggest priority right now should be…?

Ending the war in Ukraine.

If you could only focus on one project in 2023, what would it be?

Creating a better version of myself.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “You must work smart before you work hard.

If you are clever and focused in your approach, and follow a carefully considered plan, then you will achieve far more effective results.”

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Michael Warrington

CEO, AX GROUP

“OUR PROJECTS STRIVE TO BUILD COMMUNITIES AND C O N T R I B U T E T O T H E W E L L - B E I N G O F P E O P L E I N M A LT A . ”

A X G R O U P I S A H O U S E H O L D N A M E I N M A LT A , O P E R A T I N G I N K E Y B U S I N E S S S ECTO R S I N C LU D I N G CO N ST R U CT I O N , D EVE LO PM E N T, R E A L E STAT E , R E N E W A B L E E N E R G Y , H E A LT H C A R E A N D H O S P I T A L I T Y . W I T H B U S I N E S S D IVE R S I F I CAT I O N AT I TS CO R E , T H E G R O U P H A S D R IVE N M A N Y L A N D M A R K PROJECTS – FROM HOTELS TO THE ISLAND’S FIRST RETIREMENT VILLAGE. T O D AY , C E O M I C H A E L W A R R I N G T O N C O N T I N U E S A X G R O U P ’ S M I S S I O N T O P I O N E E R I N N O V A T I V E P R O J E C T S T H A T W I L L P O W E R M A LT A ’ S F U T U R E W I T H C R E AT IVI T Y, D E T E R M I N AT I O N A N D I N T E G R I T Y.

An essential for any CEO, says Michael Warrington, is time to think. “In life, you must work smart before you work hard,” he asserts. “If you are clever and focused in your approach, while following a carefully considered plan, you will achieve far more effective results.”

the group’s ‘thinker’. I oversee and coordinate its development, while motivating and collaborating with many people – who are all central to the business – to achieve its objectives. It involves a high degree of daily decision-making, so I must take that time to reflect and give every task my full attention.”

Indeed, as CEO of AX Group – the leading diversified corporation behind some of the milestone projects that define Malta today – Michael understands the need for careful planning more than most.

When it comes to effective decision-making, Michael’s financial background and extensive experience certainly help. Over the course of his varied career spanning more than 40 years, he has contributed to the formation of two subsidiary banks of Bank of Valletta and served as CFO of Air Malta, at a time when the airline achieved unprecedented profitability. He was instrumental in

“Focus is critical in all you do, just as much as resourcefulness, integrity and communication are fundamental to success,” he goes on. “As CEO, I am 219

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establishing FCM Bank Ltd in 2011 and in restructuring Novum Bank Ltd between 2013 and 2016, which he led as CEO. A Certified Public Accountant, a Fellow of the Malta Institute of Accountants and an Associate Member of the UK’s Chartered Institute of Bankers, Michael also serves as a director on the boards of multiple local and international private and public listed companies, including GO plc, Citadel Insurance plc, Nissan International Insurance Ltd and Valletta Cruise Port plc.

From the start, Michael explains, this was a family business with a progressive outlook. “Angelo recognised early on that, given Malta’s size, diversification was key.

One of the group’s defining moments was around 30 years ago, when it launched a 450-room hotel – the Suncrest. At the time, many were sceptical that such a large property could ever enjoy full occupancy. Yet, Angelo, as a man ahead of his time, had the vision that there would be the need – and the rest is history.”

Yet, it is his more-than 20-year association with AX Group that he counts as the landmark of his career. “The group first approached me for financial advice, which led to my accepting a role as CFO in February 2000,” Michael recalls.

“I held that role until 2016, when the AX Group Chairman and Founder Angelo Xuereb appointed me CEO. As such, I’ve found that an understanding of the financial side is beneficial. To lead an organisation, you must understand the key drivers of the business, and most businesses measure their success by their financial results. To know the numbers and understand the implications of those numbers is an advantage when driving steady, year-onyear growth.”

The group has continued to enjoy success ever since.

While AX Group subsidiaries have been listed on the Malta Stock Exchange since 1997, in 2018 the company consolidated its various businesses under the AX brand, with net assets standing at €220 million in October of that year.

Today, along with seven hotels under the AX Hotels brand, the group manages Hilltop Gardens and Simblija Care Home – the first retirement village in Malta – as well as being a shareholder in Valletta Waterfront and the only Maltese shareholder in the Valletta Cruise Port. “From providing the elderly with a secure and comfortable place in which they can live independently, to upgrading the Sliema area with the AX Palace Hotel and St James Capua

And growth, at AX Group, is a keyword. Taking the initials of Founder Angelo Xuereb when he established it more than four decades ago, the company initially operated solely in the construction sector. However, rapid diversification followed, first into development and hospitality then, later, healthcare.

Angelo recognised early on that, given Malta’s size, diversification was key.

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Hospital – Malta’s largest private health entity – we have always been involved in projects that build communities and contribute to the well-being of people in Malta,” Michael goes on.

And now, with the second generation of the Xuereb family actively involved in the business, it is mobilising its familyrun approach to stay on top of its many different and evershifting markets, as it transitions further. “Angelo has always believed in surrounding himself with the right people for the right job, regardless of whether they are family or not. AX has a well-governed and independent board of directors, and a management team, including myself, of predominantly nonfamily members. Joining them are family members who are as equally dedicated and adaptable, who build and maintain connections across a variety of professional associations.

We share this rich knowledge base as a formal body twice a month, at a forum to collate the information needed to make key decisions and determine our strategy.”

These decisions also adhere to the group’s core values regarding quality, creativity, integrity and determination, which have been just as instrumental to its ongoing success as its expert team that lives by them. “We are proud to take on innovative, challenging and ambitious projects, keeping integrity at the core of everything we do,” Michael elaborates.

“In terms of development on the island, we focus purely on producing quality with attention to detail, constantly asking ourselves: ‘how will this work in the real world?’ We have never envisaged joining the mass production market. Instead, we ensure we work as respectfully and sensitively to the fabric of the building and the local heritage during restoration projects, or that we offer quality in new builds by using materials that minimise environmental impact and which optimise natural light. Addressing climate change must now be a priority across all industry. We aim to create projects that are not just aesthetically pleasing when newly constructing buildings, but which will remain so throughout their life; that don’t just serve the community today but will continue to do so for the Malta of years to come.”

Nevertheless, since 2020, the COVID-19 pandemic has brought monumental challenges for the global tourism sector, which, while on the road to recovery, still faces new obstacles in the wake of other world events such as the war in Ukraine. “A strong management team helps us thrive and succeed through these challenging times, which reiterate the importance of agility and focus,” the CEO highlights.

And these traits will hold AX Group in good stead throughout the busy year ahead, he shares: “2023 will be an important year for us. We hope that hospitality will return to 2019 levels, just as we open the newly revamped 600-room Suncrest Hotel and Lido, set to make Qawra a destination of choice in Malta.”

And another major project in the pipeline likewise promises to become a game-changer both for the group and the island, Michael reveals. “The final stages of the redevelopment of the former Grand Hotel Verdala in Rabat will continue this year too, creating a luxurious residential complex and five-star hotel that will open in 2024. With an optimistic outlook, we will continue to seize opportunities as they arise, with a vision to become a half-a-billion-euro business by 2025.”

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Quick-fire Questions… with Michael Warrington What is your favourite part of the working day?

Morning.

Who do you most admire in the global business sphere?

Richard Branson.

When it comes to running your business, what is your best habit?

Discipline and focus.

And your worst?

I’m impatient – I want everything done yesterday!

What’s a hobby that’s been with you since childhood?

Carpentry and photography.

Would you time travel to the past or the future?

When and why?

Neither – live life in the now.

What attributes do you value most in your team?

Resourcefulness and integrity.

Is there a talent you’d like to have but don’t?

Dancing and playing music.

What has been the greatest milestone in your career so far?

Becoming AX Group CEO and sitting on the boards of different entities.

WhatsApp – a useful tool or the bane of your existence?

Useful, but only for quick messages. It is convenient but abused.

Do you focus best in complete silence, with background noise, or while listening to music?

It depends on what I’m doing! I need silence to think clearly.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Be bold.

What is one skill you would like to develop in 2023?

Learning French.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Climate change.

If you could only focus on one project in 2023, what would it be?

Seeing projects come to fruition and enjoy success.

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CEO INSIGHT “There are always good opportunities out there – you just need to make sure you can deliver the service promise.”

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Karl Diacono

CEO, FENLEX

“ PA T I E N C E I S A V I R T U E . ”

KA R L D I ACO N O H A S B E E N AT T H E H E L M O F T H E F E N L EX G R O U P – WH I C H I N CO R P O R AT E S A R EG U L AT E D CO R P O R AT E A N D T R U ST S E R VI C E S F I R M TO G E T H E R WI T H TA L E N T B A S E , A N EW R E C R U I T M E N T AG E N CY, A N D F E N L E X C O M P L I A N C E A D V I S O R Y , O F F E R I N G C O N S U LT A N C Y S E R V I C E S – F O R T H E PA S T 1 5 Y E A R S , N U R T U R I N G I T S G R O W T H T O A 7 5 - P E R S O N ST R O N G O R G A N I S AT I O N , A N D FO ST E R I N G I TS R E P UTAT I O N A S A L E A D E R IN THE FIELD. LOOKING AHEAD, THIS IS A DRIVE HE INTENDS ON R E TA I N I N G A S 20 2 3 CO N T I N U E S TO U N FO L D.

“I’ve reached a stage in my career where my role has become that of a mentor,” Karl Diacono, CEO of corporate services firm Fenlex explains, pointing to the “excellent managers” working at the company who are “the future of the organisation.” It is due to their commitment to the enterprise that Karl feels he can “start letting go of the reins” and entrust his team with more responsibilities, so that he’s “there to guide them more than anything else.”

who wanted to tap into Karl’s expertise to help them run the firm’s administration.

“I received a call from one of the law firm’s partners, who offered me the job,” he says. “It started, however, as a very different role – essentially managing projects and the office administration which also incorporated a small corporate services provider. I slowly got more involved within the CSP as time went on, introducing new service lines and technologies,” he recalls.

This is high praise, indeed, from a professional who has spent the past 40 years honing his capabilities. Karl started his career in hospitality and travel, over four decades ago, moving into technology a few years later and cultivating a reputation as someone who gets things done well. This came to the attention of Fenech & Fenech Advocates, one of the island’s most renowned legal firms,

“Fenech & Fenech were and still are a forward looking firm, that in the 1980s decided to set up a specialised, separate entity to oversee the non-legal services provided to clients. It was a wise decision, since Fenlex was one of the early birds, and, over time, by working diligently, 223

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I’ve seen staff develop their skills and, today, they sit with us on the board of directors. we’ve grown to become a leader in the field. Since then, we’ve bolstered our staff complement from three to 75 people,” Karl asserts, adding that, as a result, “we have grown to be one of the largest independent corporate service providers in Malta.”

His efforts paid off and, 15 years ago, he was asked to run the group. This was a few years after Malta joined the EU and the eurozone, with both developments seeing increased growth in the sector.

Over this period, Karl has seen his team flourish, not only in terms of numbers, but also when it comes to their skills and capabilities. “Today we have asked members of staff to sit with us on the board of directors. We are a learning organisation and invest heavily in giving the team the tools they need to grow as professionals. I’m very proud of the people we have as well as the many people who started their career with us and have also grown their careers elsewhere,” he continues.

Karl’s commitment to his team’s development is no surprise: the CEO views his business as one which is centred on building and maintaining human relationships. “We are a people organisation. We don’t manufacture anything; we provide services through our people. What I enjoy the most is working with the

team and helping them to keep the organisation evolving.

We invest a lot of time and effort in our human resources and we, then, enjoy the fruit of that investment as an organisation,” he explains, adding that “we also want to make sure that the team benefits from professional and career growth possibilities.”

There’s nothing like a typical day for Karl. “We handle so many different types of clients, and that’s what keeps the job interesting. We are dealing with different situations, requests, individuals, cultures and sectors every single day.

We’re in the relationship business – we create and cultivate them,” he attests. And, today, the firm offers an expansive range of services, with 98 per cent of its business dedicated to foreign clients. “We’re essentially a net exporter – we sell a lot of services to overseas clientele,” he states, explaining that the firm’s success is in no small part due to its culture, wherein the personal prevails. “We really see our business as that of building connections, and we have clients who have been with us since the early days; this is because we seek to give each client personalised assistance.”

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This does involve some challenges. “I think the biggest issue we face, nowadays, is human capital,” he says, going on to explain that “finding the right people isn’t easy.

There is talent – just not enough of it, unfortunately.”

Moreover, ensuring the talent stays with the firm, “growing with you”, is also key. “You need to create an environment which is conducive to the development of staff; we spend a lot of time, money and effort doing this,” he explains. This has been a priority for Fenlex for many years, Karl says, and it will continue to be so throughout 2023 and beyond, particularly as more and more people opt to move out of the island. “Before we can ensure our youth remain in Malta, we need to fix the issues which make them look elsewhere. We need to stop this haemorrhage of talent,” he insists.

Quick-fire Questions… with Karl Diacono What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

Steve Jobs.

However, in the meantime, and in order to mitigate these difficulties, “finding new tools to remain efficient and effective,” is imperative, Karl says. “We need to become more process-driven. Using technology allows us to stay lean and, yet, still fulfil what we need to do in terms of our service promise,” he explains.

When it comes to running your business, what is your best habit?

Remaining calm.

And your worst?

Getting distracted when I am bored, so I work hard to make sure I never am.

Innovation has always been at the heart of Fenlex’s operations – “a few years ago, we sat down with a software house to develop a compliance tool, which, today, is also used by a larger number of institutions in our sector. We always want to be at the forefront of our industry. We cannot work without such systems, particularly since we need to be fully compliant with evolving regulation, and this takes a lot of effort,” he explains. “We have a very low risk tolerance and work in a highly regulated environment, so we invest a lot of time and money in ensuring we work within the regulatory framework that is imposed upon us.”

What’s a hobby that’s been with you since childhood?

I’ve loved cooking for many years.

Would you time travel to the past or the future?

When and why?

The past, to right any wrongs I have done.

What attributes do you value most in your team?

Loyalty and the determination to grow professionally.

Is there a talent you’d like to have but don’t?

I wish I were artistic, musical.

What has been the greatest milestone in your career so far?

Getting the organisation to where it is today.

To this end, Fenlex is also in the process of acquiring a new Customer Relationship Management (CRM) platform and adding functionalities to its Enterprise Resource Planning (ERP) software. “This will allow us to manage client requests more efficiently, and to introduce automation for the processing of documentation, since we’re still very much a paper-driven industry.”

WhatsApp – a useful tool or the bane of your existence?

An indispensable, yet horrible, tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

For the rest of the year, Karl is looking to maintain the growth Fenlex has seen over the past years. “We’ve never had a year without growth, so we’d like to retain this. The challenge, now, will be to continue building our revenue at the same rate and preserving profitability in spite of the huge inflationary pressures ahead,” the CEO states. “We shall also be working hard to make sure our new services lines, namely recruitment and compliance advisory, grow.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

‘Slowly, slowly, catchy monkey.’ Everyone seems to be in a rush with no thought of the stress and consequence of living beyond one’s means. Life is way too short, slow it down.

What is one skill you would like to develop in 2023?

Cooking the perfect pannacotta.

History is repeating itself. True or false?

True – sadly the human race never learns.

Ultimately, he says, Fenlex is geared towards the continued provision of personalised service to its customers. “Our work mostly comes from client and international intermediary referrals, so our task is to make sure we, and Malta, always remain relevant and competitive. We need to manage capacity with human resources along with the technological capabilities we have,” he asserts. For, he insists, concluding, “there are always good opportunities out there – you just need to make sure you can deliver the service promise.”

The world’s biggest priority right now should be…?

Climate change.

If you could only focus on one project in 2023, what would it be?

Technology, and further digitisation.

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Jeremy Cassar

MANAGING DIRECTOR AND CEO, ERA REAL E S T A T E M A LT A

“ I ’ D R AT H E R G IVE 1 0 0 PE R C E N T O R N OT H I N G AT A L L .”

I N CO U N T R I E S B EYO N D O U R S H O R E S , E R A R E A L E STAT E H A S PR OVE N I TS E L F A S A G LO B A L L E A D E R I N T H E R E S I D E N T I A L R E A L E STAT E I N D U ST RY. N O W , J E R E M Y C A S S A R , C E O O F E R A R E A L E S T A T E M A LT A , I S H O P I N G T O C O N T I N U E T H E C O M PA N Y ’ S S U C C E S S A T A L O C A L L E V E L . W I T H E N E R G Y A N D D R I V E T O S PA R E , H E S H A R E S H I S A M B I T I O N S F O R T H E I S L A N D ’ S INDUSTRY AND THE CHANGE HE WISHES TO SEE.

In just four years, Jeremy Cassar steered his career to impressive heights – from estate agent to Chief Executive Officer of a real estate brand based in Gozo, which forms part of a respected global franchise.

Having worked in different industries previously, Jeremy was constantly on the look-out for a bigger challenge – and the real estate industry satiated his hunger.

Since the start of his working life, Jeremy’s goal has been to aim high, believing that every job he had could be used as an opportunity to learn and acquire new skills, and serve as a stepping stone for greater success in the future. “I’m a very driven person. I give more than 100 per cent to whatever I do to come out on top; otherwise I’d rather do nothing at all.”

Despite being relatively new to the role of CEO, Jeremy says his ability to adapt and his capacity to learn quickly – both traits he considers to be his strengths – have helped him tremendously in this position. “As CEO, I needed to really master the skills I’ve acquired over the past 10 years and put them to good use. Sometimes, you need to be a good manager, other times a good counsellor; you need to be the visionary pushing forward, a confident decision-maker, and know when the time is right to set sail,” he asserts.

“The last few years have been intense,” he smiles. “I became a real estate agent in 2018 and, 12 months later, I opened my own business called Property Hunters, alongside a number of partners. The following year, in 2020, I bought out my partners, and went on to become CEO of ERA Real Estate Malta in 2021, after buying the rights to bring this well-renowned franchise to Malta. The journey has been overwhelming at times, but certainly thrilling.”

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CEO INSIGHT “While it’s true that if you dream, you achieve, dreaming isn’t enough.

You have to take risks and work hard.”

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Going forward, it is going to be crucial for negotiations to be relationship-based. Agents need to be in tune with the mood of the market. estate brokerage with a forward-thinking approach for clients as well as the agents who work for it.”

“I believe being young in this role means I can bring plenty of drive and ambition to the table.

Besides, being the captain of my own ship excites me – I can aim as high as I want to and work as fast as I would like to. So far, my approach is paying off.

I believe the industry knows there’s a new player in town.”

Under the ERA Real Estate brand, ERA Malta forms part of an extensive network of offices – spanning 35 countries and comprising 40,000 agents worldwide. It was founded in 1971 by American entrepreneur Jim Jackson, who saw the potential of using technology to sell property. In 2022, the company celebrated its milestone 50th anniversary.

“The name stands for Electronic Realty Associates and, since its early days, it led the US industry using technology and innovative tools to provide a quality service – starting with the fax machine to having a website when the internet was still in its infancy,” says the CEO. “In 1981, it expanded to Japan and went on to open offices in another 28 countries. Today, the company is a leading real

Jeremy officially put down roots for ERA Real Estate Malta in January 2022 with an office in Gozo, which is where he is based. In less than a year, the team outgrew the office and will be moving into larger premises with a modern and fresh design and aesthetic, which will serve as the blueprint for all subsequent offices.

“Over the past year, we’ve been hard at work establishing the image and direction of the brand, and I believe we’ve put the name out there as more and more people have learned about us. We now have two franchise owners in Gozo and business is doing well,” says Jeremy. “Having an office in Malta is necessary and this was part of my strategy from the beginning.

We’ll open our new branch in Naxxar early this year.”

Jeremy explains that, for the past year, he has been focused on laying a strong foundation for the business, which in turn has enabled the team to launch one of its many exciting plans. “We introduced a revolutionary system for the local real estate industry, called Text ERA, which converts the standard ‘for sale’ sign on properties into a lead-generating tool,” says the CEO. With Text ERA, prospective home buyers simply text a code that is unique to each property and receive instant information on it, including photos, its price, 228

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plans, and other useful information. For sellers, the tool helps to attract new leads from potential customers through interactive marketing.

“It’s an excellent tool because it is instant, but it also acts as a filter that saves time for property owners, agents, as well as interested buyers. This isn’t an app or a website, it’s a text message. It’s that simple,” says the CEO. “The launch of this innovative tool is just the start for us. It came to fruition following months of hard work and, while it’s true that if you dream, you achieve, dreaming isn’t enough.

You have to take risks and work hard. One year on, this belief has paid off.”

Quick-fire Questions… with Jeremy Cassar What is your favourite part of the working day?

The morning, with an iced latte and ham and cheese toast before work.

Reflecting on the past year – the company’s first full year in operation – Jeremy says that, while it’s still early days to discuss challenges faced by ERA Real Estate Malta, there are clear challenges that need to be tackled by the industry at large. “One of the foremost challenges in the industry right now is the real estate cycle,” says Jeremy, which is composed of the four phases of recovery, expansion, hyper supply and recession.

Who do you most admire in the global business sphere?

Mark Zuckerberg.

When it comes to running your business, what is your best habit?

Pushing forward.

And your worst?

Procrastinating, which isn’t always a bad thing.

“We are currently at the end of the hyper supply phase.

At every stage of the cycle, the market shifts from being a seller’s market one minute to a buyer’s market the next.

This alone affects how the industry, and specifically estate agents, work,” explains Jeremy.

What’s a hobby that’s been with you since childhood?

I’ve been doing karate for the last eight years.

Would you time travel to the past or the future?

When and why?

The recent past, because I think it was easier then to find success.

“In a seller’s market, when the industry is doing well, there’s high demand and supply. It is an easier time to sell, and therefore many agents jump on board – they are excited by the market, investing and making money. This changes when it’s a buyer’s market – activity slows down and suddenly agents lose interest in the job and start to jump ship. Going forward, as we approach the end of one phase and the start of another, I think it is going to be crucial for negotiations to be relationship-based and therefore agents need to be in tune with the mood of the market, and trained accordingly to deal with it.”

What attributes do you value most in your team?

Their pride in the brand.

Is there a talent you’d like to have but don’t?

I always wanted to play football.

What has been the greatest milestone in your career so far?

Bringing ERA Real Estate to Malta.

WhatsApp – a useful tool or the bane of your existence?

Very useful.

The CEO is quick to share that ERA Malta is looking to be a change-maker in this regard over the coming 12 months. Indeed, bringing about change is at the very heart of Jeremy’s ambitions for the business and industry in 2023. “We have invested a lot of time and energy in creating appealing packages for estate agents to join our team, through which we will provide the training and guidance they need to give a more professional and well-rounded service to clients. We hope that, over time, this will lift the status of agents and how they’re perceived by the general public. But, for this to happen, old work practices need to change.”

Do you focus best in complete silence, with background noise, or while listening to music?

I listen to music to work but need silence to focus.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Keep moving forward and focus on self-development.

What is one skill you would like to develop in 2023?

Anything to do with administration.

History is repeating itself. True or false?

True.

On a personal note, Jeremy says that his own role has also evolved since taking the helm of ERA Malta. From opening an office in Gozo and building a team from the ground up, to marketing the brand and launching innovative tools in just 12 months, he has nimbly adapted to all the stages of the company’s timeline so far. “Being in this role requires perseverance and the ability to withstand pressure. However, it’s all very exciting, and I’m eager to see what this year has in store.”

The world’s biggest priority right now should be…?

Tackling global warming.

If you could only focus on one project in 2023, what would it be?

ERA – there’s too much to do to focus on anything else!

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CEO INSIGHT “Being very agile in the midst of uncertainty is the biggest takeaway that now leads us into this post-pandemic phase.”

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Pierre-Etienne Cizeron CEO, EPIC

“ WE REMAIN FOCUSED ON CONNECTING M A LT A T O T H E F U T U R E . ”

L A U N C H E D I N 2 0 1 9 , E P I C M A LT A H A S S O U G H T T O B U I L D O N 3 0 Y E A R S O F L E G A C Y I N T H E T E L E C O M M U N I C A T I O N S S E C T O R I N M A LT A – W E A T H E R I N G T H E E C O N O M I C I N S T A B I L I T Y O F T H E PA S T F E W Y E A R S W I T H A P L O M B . L O O K I N G AHEAD, INCOMING CEO PIERRE-ETIENNE CIZERON IS DETERMINED TO CO N T I N U E PR I O R I T I S I N G I N N OVAT IVE A PPR OAC H E S .

into servicing 50 million customers and one million businesses,” Pierre-Etienne attests. Last year, 2022, was a year of growth for the company, which also attracted further investment through a €20 million injection from the European Investment Bank.

Epic Malta entered the local market just four years ago but, already, it has made strides in solidifying its position as one of the core leaders in the telecoms industry on the island. “The company was launched in 2019, following a nationwide rebranding strategy, heralding a new era for the company, as well as for the country’s telecommunications,” its CEO Pierre-Etienne Cizeron explains.

In Malta, the telecoms operator “re-established our strong position as number one in the market, with over 250,000 customers now on an Epic Pay Monthly, and at least one in every two business mobile users are on our network.

A recent Malta Communications Authority (MCA) survey also confirmed that our customer response rate leads within our sector, a position we are very proud of,” he asserts, since he sees this “as tangible proof of our hard work”.

He points to the firm’s international pedigree – Epic boasts “global DNA,” he says, with its acquisition by NJJ Holding and Monaco Telecom earlier in 2020. Through these connections, he says, “the team is building on a 30-year legacy that has seen it challenge and change the way Malta connects,” for “this means that we can, and do, bring global expertise to the local market.”

He also credits Epic with having introduced “a new dynamic energy” into the sector on the island for it is “not held back by the traditional, more incumbent approach bigger operators sometimes have. From the introduction

This international presence has allowed Epic Malta to grow substantially, away from Malta’s shores. “To put it into figures, Epic’s extended presence translates 231

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of pay-monthly plans free from contracts, to demonstrating the fastest 5G and 2Gbps broadband speeds, we continue to challenge the status quo,” he says.

Despite these difficulties, Pierre-Etienne witnessed the willingness of the staff at Epic to go the extra mile. “We certainly experienced a new range of highs and lows over the last year, but the most positive surprise was seeing how nothing stops a great team from achieving. The most arduous aspect was supporting and rebuilding a team culture with very limited physical meetups. Walking around the office now, you can feel the team’s energy, which is hard to replicate over video calls,” he says.

This was Epic’s strategy from day one, he continues, while also ensuring a sustainable method for managing finances.

“When launching Epic in Malta, we wanted to focus on being an efficient business by literally spending every cent wisely, which allows us to offer even greater value to the customer. The challenges posed by the pandemic have made being efficient more important, and we were prepared for it,” he says.

This steadfastness became core to the success of the company post-pandemic, in 2022. Yet, Pierre-Etienne’s international experience, no doubt, had a hand in uniting the team behind a common cause. “My accumulated experience working in various countries and very challenging markets with fierce competition such as in Romania, Egypt and France has served me to adapt quickly to this new environment, and act swiftly in executing our plan to reinforce our position in Malta,” he says. However, he is modest about his contribution. “My role,” he continues, “is also to support the fantastic team I found here at Epic. After all, it’s the people at Epic who have the skillset to understand our customers best and drive our success.”

Moreover, these first years solidified customers’ needs for efficient communication. “While the world was in lockdown, mobility became even more important, keeping communities connected. As a result, services like courier delivery became a vital cog in the wheel. Several of the popular apps delivering these goods are powered by the Epic network, providing fixed connectivity solutions and managed services for our customers,” he explains.

The crisis brought on by the pandemic presented challenges to the team which, Pierre-Etienne says, were passed with flying colours. “The launch of Epic in Malta is a classic case study of resilience and teamwork. We started our transformation journey at the peak of lockdown in April 2020, launching the brand six months later. Some of us had only met over video calls. This way of working, going against any obstacle that gets in the way and being very agile amid uncertainty is the biggest takeaway that now leads us into the post-pandemic phase,” he explains.

Our commitment continues to be building an infrastructure which is second to none.

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This perspective is also informed by Pierre-Etienne’s knowledge of the ever-changing nature of the telecoms industry. “Today, everyone has at least one mobile phone, and broadband is present in almost all households. Our role as an operator focuses on democratising the way customers and businesses connect. At Epic we do this by making new technology accessible and affordable without compromising on quality. We don’t subscribe to the outdated idea that customers should have to choose one over the other. This is what we mean by our promise of ‘Great Network, Great Value’. We’re aware it is an ambitious promise but we’re on a journey to make it happen,” he attests.

Quick-fire Questions… with Pierre-Etienne Cizeron What is your favourite part of the working day?

Early morning, as I prepare before the rush.

Who do you most admire in the global business sphere?

Innovators – people who disrupt, see things differently and create value.

Elaborating, he says that the operator’s role is “not limited to the consumer”. He points to the take-up of Epic, as a network for businesses, saying that Epic for Business is the most popular within the business space. “Our promise does not change, as today business customers need so much more than mobile. Through our dedicated Business Solutions team, we focus on making Fixed Broadband Connectivity affordable without compromising on reliability, security and quality,” he continues.

When it comes to running your business, what is your best habit?

Always challenge the way we do things.

And your worst?

Maybe challenging things too much sometimes!

What’s a hobby that’s been with you since childhood?

Windsurfing.

The next few months will see a consolidation of this energetic evolution. “Now more than ever, telecom companies are reimagining their business models. As Epic, we remain focused on connecting Malta to the future. This means building an infrastructure which is second to none, fine-tuning our ability to adopt new technologies to deliver new innovative products at speed and matching this great network with excellent customer experience. Indeed, currently, we are well on our way to completing the roll-out of our new network in 2023, and we will be dedicating a lot of our energy to making it as seamless as possible for our customers,” Pierre-Etienne describes.

Would you time travel to the past or the future?

When and why?

I love travelling, but now we need to balance travel with the carbon impact it generates – so I would stay in the present.

What attributes do you value most in your team?

Open-mindedness, a positive spirit and being focused on execution.

Is there a talent you’d like to have but don’t?

Speaking multiple languages fluently.

What has been the greatest milestone in your career so far?

Launching a successful, fully digital brand in Eastern Europe.

This is imperative since the telecom ecosystem “continues to evolve as a dynamic regulatory, technological and competitive environment, extending far beyond the traditional scope of activities,” he attests. Moreover, “one thing that will certainly continue to evolve – and which we place great importance on – is enhancing customer experience. Today’s digital consumer expects uninterrupted connectivity, a wide range of customised offerings and the quick resolution of their issues, making it critical for us to create tangible value.”

WhatsApp – a useful tool or the bane of your existence?

So useful, so efficient!

Do you focus best in complete silence, with background noise, or while listening to music?

Silence is the best for my concentration.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Try to focus on what you would really like to do in the future.

As a business, Epic is determined to keep innovating and “to operate responsibly. A tangible example is our investment in one of the most powerful Customer Premises Equipment (CPEs) available in the market today, which offers the most diverse connectivity options to ensure best speed at great value. It combines all functions into one box and is WiFi6 certified – the latest generation Wi-Fi. Made up of 100 per cent recycled plastic, it’s considered to be something innovative and worth shouting about. We think it should be the norm, and a minimum expectation for businesses looking to grow, and doing so in a responsible way that is both cost-effective and beneficial to customers and the environment we live in,” he says, concluding.

What is one skill you would like to develop in 2023?

I am not very patient. Sometimes it is good to have the capacity to slow down.

History is repeating itself. True or false?

Quite true, sometimes unfortunately…

The world’s biggest priority right now should be…?

The climate.

If you could only focus on one project in 2023, what would it be?

Developing the best connectivity in Malta.

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“Sometimes you need to progress in baby steps by understanding the limits, learning from other people’s mistakes, and assessing what the clear trajectory is.”

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Anton Buttigieg

CEO, T R A D E M A LT A

“ C O M PA N I E S N E E D T O C A R V E O U T T H E I R O W N S PA C E . ”

E STA B L I S H E D I N 20 1 5 A S A J O I N T VE N TU R E B E T WE E N T H E G OVE R N M E N T A N D T H E M A LT A C H A M B E R , T R A D E M A LT A H A S B E E N H E L P I N G L O C A L C O M PA N I E S I N T E R N A T I O N A L I S E T H E I R S E R V I C E S A N D P R O D U C T S

BY OFFERING EXPERTISE AND GUIDANCE ON THE RIGHT NETWORKS A N D M A R K E TS TO TA P I N TO. T H I S YE A R , C EO A N TO N B UT T I G I EG I S DETERMINED TO KEEP THE MOMENTUM GOING.

Malta-based ventures to set their eyes on bigger avenues for trade. “We’re a trade promotion organisation that helps entrepreneurs and firms based on the island to internationalise; this has been our primary drive for the past seven years. And the expertise we’ve developed inhouse is, indeed, based around the needs of the various sectors and industries to which our clients belong.”

Malta’s small size and the limitations of its market are challenges facing most local companies. Yet, says Anton Buttigieg, CEO of TradeMalta, with the myriad opportunities emerging internationally and away from the island’s shores, there’s no reason why this should continue to be the case. Maltese companies can – and should – seek to exploit the advantages the country boasts by virtue of its geographic location and membership of the EU. “TradeMalta is a facilitator,” he says. “Our role is to help companies export their goods and internationalise their business, and we enable them by connecting them to foreign networks. In a changeable and changing world, we are focused on what we do and ensure our partners are aligned towards maximising their potential.”

Anton admits that, when the entity was first established, the world was in a different place to the fraught contexts in which today’s companies operate. “Seven years ago, Malta was open to all markets; the world was booming.

Today, we’re seeing a shift in the situation; we’re looking at a slower global growth rate and many business leaders are reassessing their export destinations and the way they develop their product,” he explains.

Since its launch in 2015, TradeMalta has built on the work already carried out by Malta Enterprise in assisting

These changes have occurred as a result of the COVID-19 pandemic, he continues, as well as the current conflict in 235

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We’ve organised a number of trade delegations to Japan, Korea and sub-Saharan Africa, and, this year, are organising our third trip to Ghana. We’re trying to find commercial opportunities in places where Maltese businesses are, traditionally, not present.

School of Management in Milan, Anton spent his formative professional years working in management consultancy with MISCO. “That gave me the opportunity to meet many business people who helped me understand the opportunities and challenges local enterprises face.” He later spent some years working in industry, before being given the opportunity to become TradeMalta’s first CEO in 2015.

“It was like coming full circle, since, here too, I have the opportunity to meet different companies in diverse industries. I seek to understand what they do and then the team at TradeMalta helps them achieve their internationalisation and export goals,” he says, going on to describe the various trade missions they have lined up in the past, and what they expect for the months ahead.

Ukraine. “There’s a rethink of the global trade regime, and much of this stems from the lack of security in, amongst other issues, sourcing raw materials which are used in the manufacturing process. We’re living, I believe, in a transitional moment, where people are asking questions on how our systems work, and what we can do to improve them.”

With the wealth of experience he brings to the role, Anton, and his team, are well-positioned to help companies navigate the awkward realities of the present system. Graduating in Economics at the University of Malta and later achieving a Master’s in International Economics and Industry Analysis from SDA Bocconi

“We’ve organised a number of trade delegations to Japan, Korea and sub-Saharan Africa, for instance. And, this year, we’re organising our third trip to Ghana, which will bring together a substantial delegation. We’re essentially trying to find commercial opportunities in places where Maltese businesses are, traditionally, not present,” he asserts. And, as a result of this drive, TradeMalta has also managed to lobby Government to open Malta’s first representations in sub-Saharan Africa – “there is now a Maltese High Commission in Ghana and one in Addis Ababa, Ethiopia,” he says. “Africa is a continent of approximately one billion people, mostly between the ages of 19 and 24, so there are huge opportunities there across the board.”

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He also sees further opportunities closer to home. “We’re an EU member and we now know how to operate on an EU level, so it’s easier to do business on our home continent,” he continues. Even in these contexts, Anton is still determined to guide companies to the most productive access points for their businesses.

“Companies need to carve out their own space and be realistic about their capabilities; many tend to overstretch themselves at an early stage and then realise, at their own expense, that they need to apply the brakes and recalibrate their focus. Sometimes you need to progress in baby steps, understanding the limits, learning from other people’s mistakes, and assessing what the clear trajectory is,” he advises.

Anton’s guidance has now aided dozens of companies and this realisation motivates him to continue helping other firms.

“We are pleased when one of our clients succeeds, which usually takes around 12 to 24 months. And when we receive an email or phone call to say they’ve broken into the market they were gearing themselves towards, it gives us an immense sense of satisfaction,” he smiles.

Over the next few months of 2023, the business environment will continue to challenge business practitioners, Anton stresses, which means there’s going to be a further emphasis on the importance of personal contacts and relationships.

“This is what will count; people will want to know they can rely on their Maltese partners, as service providers or manufacturing exporters.”

Ultimately, he says, being based in Malta will become secondary to the ability of local entrepreneurs to fully exploit the potential of their networks. “If you’re a leading provider of a product or service, you’ll always find a customer for it. In other words, if you have a distinct offering and – importantly – you can prove your worth by delivering on what you promise, the fact that you come from Malta becomes secondary.”

Anton, indeed, sees the world as teeming with possibilities for locally based firms. “We need to work smart, since, really, Malta-based businesses need only a fraction of the immense number of opportunities there are out there. We only need a little to keep our economy moving and to keep it strong,” he says.

He sees this year as filled with promise. “We actually have a number of projects coming up. And if we have gotten our strategy right, we will see good uptake from local industries to join the events we have organised.

“Here at TradeMalta, we gauge success based on how we manage to maintain local companies’ interest in our support, for that would mean that word of mouth has spread. Our remit is to know what markets are out there and to pass that information on to local stakeholders so they don’t miss out on the opportunities.

“I am sure that, this year, we’ll continue to build on this momentum,” he predicts.

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Quick-fire Questions… with Anton Buttigieg What is your favourite part of the working day?

The mornings, when I’m fresher.

When it comes to running your organisation, what is your best habit?

Being consistent in my approach.

And your worst?

Sometimes I do most of the talking.

What’s a hobby that’s been with you since childhood?

Sports; I’m a general enthusiast.

Would you time travel to the past or the future?

When and why?

The future, to spend time with my grandchildren.

What attributes do you value most in your team?

Honesty and sincerity.

Is there a talent you’d like to have but don’t?

The ability to draw.

What has been the greatest milestone in your career so far?

Becoming CEO of TradeMalta.

WhatsApp – a useful tool or the bane of your existence?

A very useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Stick to what you want to do.

What is one skill you would like to develop in 2023?

More ability to multitask.

History is repeating itself. True or false?

Absolutely true.

The world’s biggest priority right now should be…?

The environment.

If you could only focus on one project in 2023, what would it be?

Helping companies internationalise.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

CEO INSIGHT “My mission is to grow and develop business in Malta and help our customers expand their own enterprises. And, last but not least, I also ensure that our staff at DHL progress and reach their maximum potential.”

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Dimitris Papas

COUNTRY MANAGER M A LT A , D H L E X P R E S S

“ M Y S U CC E S S R E L I E S O N T H E S U CC E S S I FAC I L I TAT E I N OTHERS AND HOW THEY DEVELOP AS PEOPLE WHEN I MANAGE THEM.”

D I M I T R I S PA PA S H A S M O R E T H A N 2 0 Y E A R S O F E X P E R I E N C E I N S A L E S AND LOGISTICS , 17 OF THEM WITH DHL EXPRESS . HE TOOK OVER THE M A N A G E M E N T O F T H E B U S I N E S S ’ M A LT A B R A N C H I N T H E T H I C K O F T H E C O V I D - 1 9 PA N D E M I C W H E N T H E C O M PA N Y P L AY E D A V I T A L R O L E I N T H E P R E S E R V A T I O N O F T H E G L O B A L S U P P LY C H A I N .

Dimitris Papas left his native Greece for Malta in September 2021 when he took on the role of Country Manager for DHL Express. Since then, he has put his extensive background in sales and customer care to good use daily. “My main role, which takes priority over everything else, is to ensure that DHL is always the provider of choice for its customers, the investment of choice for its shareholders, and the employer of choice for its employees,” he says. “On a more granular level, my mission is to grow and develop business in Malta and help our customers expand their own enterprises. And, last but not least, I also ensure that our staff at DHL progress and reach their maximum potential.”

Although setting the right priorities for both the company and its customers can be challenging, this is precisely what excites Dimitris and makes him eager to go to work every day. Not even the disruptions brought on by the COVID-19 pandemic managed to put a damper on his enthusiasm for his job.

“We have had ongoing challenges over the past two years. Even now, in the so-called ‘post-COVID era’, there still remain bottlenecks in commercial uplift which we have to overcome in order to ensure the day-to-day routing of our shipments.

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is largely due to the people I work with. The Maltese are very similar to the Greeks, so I feel at home here, and my colleagues are part of my extended DHL family. I come to work every day wanting to be with the people that make up my team.”

Dimitris originally joined DHL as a part-timer straight out of university. “I immediately felt at home, and even though I worked with other companies after that, I never felt the same way anywhere else. That is why I came back to DHL,” he shares. “If I had to choose a career highlight, it would be when I

undertook my current position. I believe that Malta has many business opportunities to offer, and we can tap into them if we change the mentality that we are isolated. We’re not a backwater here.”

DHL has been consistently voted one of the world’s best employers, which is reflected in Dimitris’ genuine interest in the success of his customers and employees.

“Statistics measured in numbers are indisputable and maintaining a focus on performance is of paramount importance from a financial point of view,” he says.

“But success in terms of figures ebbs and flows. I have come to realise that my success relies on the success I facilitate in others and how they develop as people when I manage them. This also spills over to customers: when you have a customer who goes from five shipments a month to becoming a leader in their sector, that is the ultimate reward.”

The past couple of years have been particularly challenging, even for a company like DHL. However, the company rose to the occasion and was pivotal in

The Maltese are very similar to the Greeks, so I feel at home here, and my colleagues are part of my extended DHL family. I come to work every day wanting to be with the people that make up my team.

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keeping the global supply chain going at a time when it had all but come to a halt. “COVID-19 was a shock to the system on both a very personal and business level. It upset the supply chain and the way we work, especially during the early days when the DHL plane was the only one that was landing and taking off on a daily basis. In fact, we never stopped,” Dimitris says.

It was during this period that the world started seeing companies like DHL in a different light. Whereas the focus before the pandemic was on speed of delivery, it has now shifted to having a dependable and steady supply chain as well. This was especially the case when the company transported over 2 billion doses of the COVID-19 vaccine, most of them under temperature control.

Quick-fire Questions… with Dimitris Papas What is your favourite part of the working day?

The end, when there are fewer distractions.

Who do you most admire in the global business sphere?

Bill Gates.

“Now, of course, there are other problems, like the conflict in Ukraine. Nobody is flying over the conflict zone, resulting in a lot of grounded aircraft and rerouting of flights, which increases costs,” Dimitris explains. “In addition, ocean freight still hasn’t fully recovered globally, air freight continues to be challenged due to shortages, and East Asian countries still have many restrictions due to their zero-tolerance approach to COVID-19. Still, so far we have been very successful in mitigating the effects of all this.”

When it comes to running your business, what is your best habit?

Checking in with colleagues and treating them as I’d like to be treated.

And your worst?

Overthinking.

What’s a hobby that’s been with you since childhood?

Music.

Would you time travel to the past or the future?

When and why?

The early 20th century because I studied modern history.

While the constant readjusting requires agility, Dimitris feels that his company has come out of this turbulent period with flying colours. “We used to have one peak season in November and December, but we are now dealing with increased demand throughout the year.

We’ve learnt to be more flexible and more adept at finding alternative solutions to any obstacles we encounter,” he shares. “We are also stronger as a team and, together, we have taken the customer-provider relationship to another level, becoming trusted advisors, as logistics have come to the forefront across businesses.”

What attributes do you value most in your team?

A can-do attitude, respect, openness and empathy.

Is there a talent you’d like to have but don’t?

Playing a musical instrument.

What has been the greatest milestone in your career so far?

Coming to Malta in 2021 as Country Manager.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Much of DHL’s success is due to its ability to adapt and move with the times, including its commitment to reducing its impact on the environment. “As a group, we are committed to using sustainable aviation fuel blending for our aircraft by 2030, which is expected to save approximately 2 million tonnes of carbon dioxide emissions over the aviation fuel lifecycle,” he says. “As for DHL Malta, we plan to have 70 per cent of our road fleet electrified by the end of 2023, which is the first step towards full electrification.” Plans for 2023 also include several other projects in the pipeline, such as an increase in manned service points and the refurbishment of existing service lockers and the company’s facility in Luqa.

Do you focus best in complete silence, with background noise, or while listening to music?

It depends, but mostly with music, especially jazz, opera and rock.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Identify the positives in any negative experience.

What is one skill you would like to develop in 2023?

Being more proficient at speaking off the cuff.

History is repeating itself. True or false?

Patterns of human behaviour repeat themselves.

Dimitris is clearly passionate about his job and thrives in challenging situations. However, he does not sugar-coat reality when talking about the near future. “I suspect we will be in flux all this year and probably the next – even though what we really need is much more than just a semblance of normality,” he predicts. “However, we now know the strength of our resilience. We can adapt to whatever is thrown at us, and we will continue doing so for as long as is necessary.”

The world’s biggest priority right now should be...?

The planet.

If you could only focus on one project in 2023, what would it be?

Building a summer house on Lefkada, a Greek island dear to my family.

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Martin Agius

CEO, THE CONVENIENCE SHOP (HOLDING) PLC

“ W E A R E N O T A R E A C T I V E C O M PA N Y W E A R E A LW AY S A H E A D O F T H E C U R V E . ”

IT ’S BEEN A LITTLE MORE THAN A DECADE SINCE THE FIRST CONVENIENCE S H O P O P E N E D I T S D O O R S I N Z E B B U G A N D , I N T H A T T I M E , T H E C O M PA N Y ’ S G R O W T H H A S B E E N N O T H I N G S H O R T O F S T R A T O S P H E R I C . T O D AY , T H E GROUP COMPRISES 83 STORES IN 48 LOCALITIES – AND ACCORDING TO CEO MARTIN AGIUS , IT ’ S NOWHERE NEAR DONE YET.

management team that continues to drive the project forward, which Martin himself joined at the end of 2018.

Delving into the major milestones in The Convenience Group’s relatively short life and tracing its impressive growth, CEO Martin Agius begins by highlighting an important decision taken by the company’s directors in 2014 – a decision that paved the way for the successes to come.

Explaining the group’s management structure, which reports to the board of directors and which Martin describes as “the brain of the company”, the CEO highlights the crucial roles of the team that drives it, including key people like the Chief Financial Officer, Chief Operating Officer, Chief Commercial Officer, Chief Technical Officer and Chief People Officer, as well as an audit committee and internal auditor.

“In 2014, the directors had the foresight to launch the franchise concept,” he says. “They understood that shoppers needed shops nearby, and began to evolve the company accordingly.” From there, the group’s expansion rapidly increased in 2016, before things changed completely in 2018, as the group was restructured.

The fact that the company is headed by an independent CEO, he says, ensures that the management team can drive the business forward within the vision of the company, while also ensuring good governance, transparency and the appropriate controls. “Human resources are also an integral part of the company,” he affirms, noting that, “as a franchise, we employ more than 750 people.”

“From a fragmented system that comprised lots of companies with minority shareholding, the restructuring of the group resulted in having four shareholders as from 2018. This led to a bond issue of €5 million on the Prospects MTF in 2019, along with the employment of an experienced 242

MaltaCEOs 2023

C E O I N S I G H T THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS “Projections and clear financing are necessary.

They are the catalysts of growth and make all the difference.”

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Every shop is measured and studied in detail, demographically and socio-economically.

It was thanks to this strong managerial backbone that the company continued to thrive when the pandemic hit, in 2020. “We didn’t stay idle. That year we launched our online business and, then, in 2021, we created a fruitful relationship with Wolt, which today sees 20 of our stores included on their platform,” Martin smiles, before proceeding to outline the group’s most recent milestones.

“In 2022, we completed an agreement with COOP Italian Food S.P.A, making us their exclusive distributors in Malta and Libya, as well as a distribution agreement with Wolt Market, a dark store business that sells to the public and the retail sector alike.”

Delving further into the group’s operations, which are split into own store operations and franchised store operations, Martin explains that 40 outlets are the company’s own operated stores, which are run directly by the group within leased premises, while 43 are franchise outlets. The head office, he says, supports

both by providing finance, marketing, human resources, category management and IT services.

“One of the company’s competencies is that all management, right up to director level, work towards KPIs, to create accountability and ownership, and to ensure that we drive the bottom line and performance of the group,” he maintains, describing the importance of guiding the people involved on the quality and performance of each and every shop. “One of my challenges at the outset,” he says, by way of example, “was to ensure that we have rigorous control on our stock. So, today we have an independent stocktake team led by a cost controller who, on a daily basis, visits shops to constantly take stock.”

Franchise development is another integral part of managing a rapidly growing group like TCS, the CEO says, and he is adamant that the expansion is not happening haphazardly. “Every shop is measured and studied in detail, demographically and socio-economically. For every franchisee, we do the necessary due diligence, projections and financing, a five-year profit and loss, and eventually get involved in everything from product selection to floor planning,” he affirms.

“I call it the catalyst of growth, and it makes all the difference,” he continues, going on to reveal signed agreements for 11 new Convenience Shop outlets which are set to open their doors in 2023. Affirming that the group’s approach remains cautious despite its outwardly rapid growth, Martin says, “each decision we take, we take scientifically.”

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Illustrating this, the CEO references a recent study on shopper dynamics the company carried out with Procter & Gamble. The research revealed, he says, that shoppers, against the backdrop of the instability brought about following COVID and the onset of the war in Ukraine, as well as inflationary pressures and a rising cost of living, will be seeking smaller typology and discount stores. “What this means for us as a company,” he says, “is that we need to ensure that we review our assortment priorities in the proximity stores and exploit customer loyalty schemes.”

Quick-fire Questions… with Martin Agius

It is this emphasis on shopper needs that leads to the CEO’s belief that the group will grow even further in the coming years. “In 2023, we will have 91 outlets in 51 localities. To achieve this, we need to keep focusing on the core brand, making sure that we optimise proximity and align with the needs and expectations of our shoppers.”

Highlighting several growth opportunities moving forward, Martin continues, “small, independent grocery stores face an increasingly challenging competitive landscape ahead, presenting an acquisition or franchising opportunity for us.” Going further to highlight the decision to align with COOP Italia as one that’s been a long time in the works, and correlates with the way in which the retail segment in Malta is changing, he adds, “by featuring a wider, affordable product offering, consumers will be able to top up on a broader range of products, thus increasing the average chit size per visit.”

Delving into the challenges the business is set to face in the coming years, the CEO is adamant that the group’s brand recognition and the store network’s proximity to shoppers places TCS in a position to mitigate the effect of current and upcoming hurdles. “Our key challenges are inflationary pressures (for which our partnership with COOP Italian Food S.P.A ensures that we will continue to provide a quality, affordable product option); and tight labour market conditions coupled with our high dependency on human resources, for which we are focusing on internal and external talent attraction, and increased training and employee retention,” he states, asserting, “we are not a reactive company – we are always ahead of the curve.”

So much so that his strategy moving forward is aligned with The Convenience Shop’s vision to be the retailer of choice in the local convenience sector by ensuring that a modern, reliable and customer centric experience is always provided.

“We’re going to be very selective when it comes to acquisitions, and will also focus strongly on improving our customer experience through better category management, as well as expanding our product offering to new categories,” he maintains, revealing that more fresh produce and an expanded bakery and pastry section are on the cards. Along with these, the CEO reiterates that maintaining product quality and affordability through the group’s collaboration with local suppliers also features highly on the agenda, as well as continuing to open new stores in key growth locations lacking a Convenience Shop presence, while expanding its franchised store network.

“We’re definitely looking at some very exciting years ahead,” he smiles.

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What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

Roberto Goizueta, ex-Chairman and CEO of Coca-Cola.

When it comes to running the business, what is your best habit?

Understanding, studying and strategising before taking action.

And your worst?

I tend to rush to have things realised immediately.

What’s a hobby that’s been with you since childhood?

Football.

Would you time travel to the past or the future?

When and why?

I reflect on the past, focus on the present and know where I want to get to in the future.

What attributes do you value most in your team?

They are young, enterprising, motivated and eager to grow.

They live and breathe the business.

Is there a talent you’d like to have but don’t?

I always try to learn, change and adapt to the realities of life.

What has been the greatest milestone in your career so far?

I treasure every achievement and special moment!

WhatsApp – a useful tool or the bane of your existence?

I hate it! I prefer one medium of communication - Outlook.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence is golden.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Believe in yourself and prove yourself with results.

What is one skill you would like to develop in 2023?

Patience and listening.

History is repeating itself. True or false?

History has always repeated itself.

The world’s biggest priority right now should be…?

Sparing the world from war and poverty.

If you could only focus on one project in 2023, what would it be?

There are too many to focus on just the one!

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Charles Mizzi

CEO, RESIDENCY M A LT A A G E N C Y

“ YOU SHOULD BE THE FIRST ONE TO G E T YO U R H A N D S D I RT Y.”

F O R T H E PA S T F O U R Y E A R S , C H A R L E S M I Z Z I H A S H E L M E D R E S I D E N C Y M A LT A A G E N C Y D U R I N G A C R U C I A L T I M E W H E N I T S R E S I D E N C Y - B Y I NVE ST M E N T PR O G R A M M E S H AVE S E E N A D R A M AT I C I N C R E A S E I N D E M A N D. F R O M O PT I M I S I N G T H E AG E N CY ’ S A B I L I TY TO R I S E TO T H E CHALLENGE TO DEVISING NEW PROJECTS AND OPPORTUNITIES TO KEEP IT COMPETITIVE , THE ROAD AHEAD PROMISES TO BE EXCITING .

came to Malta. At the time, the sector was dominated by two big players, and Charles recalls his experience with establishing the brand as one of his career milestones, along with others such as leading the marketing team of the Maltese Presidency of the Council of the EU.

With an extensive background in marketing and communications, Charles Mizzi’s business ethos is a clear product of his wealth of experience. “You need to understand what motivates consumers to opt for one service over another,” he says. “Now more than ever, it’s vital to invest in building a good brand and then maintaining that brand’s integrity. Communication is key: you need to communicate well both inside the organisation and outside it.”

Also among his professional highlights is a more lighthearted memory: the launch of the very first President’s Solidarity Fun Run, coordinated by Banif Bank in collaboration with the Office of the President. “When we were making projections on participation, we thought we could mobilise around 2,000 people,” Charles remembers.

“But, in the first year, we managed to get 5,000 people to participate. The event continued to grow, and it is still run every year.”

Charles took the reins at Residency Malta Agency, the Government entity responsible for managing and promoting Malta’s residency-by-investment programmes, in 2019. He had previously worked at Bank of Valletta for 12 years, before joining Banif Bank (now BNF) when it 246

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CEO INSIGHT “We’re blessed to have a great team of individuals.

Understanding their different characters and how they work best can sometimes be challenging, but bringing them all together to achieve the success we’ve had has been one of the most satisfying parts of the role so far.”

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COVID-19 helped to turn the agency around. I think we are now a much better organisation, both in terms of our product offering and the efficiency of our operations. form, as well as the launch of two other initiatives: the Nomad Residence Permit and, most recently, the Startup Residence Programme. Under his watch, the agency has also moved to new premises, embarked on a digitalisation endeavour, and put in place plans for further growth in more diverse markets and with a wider product portfolio.

Key to the agency’s success has been the growth of the MPRP, which offers residency by investment to thirdcountry nationals. “We sometimes take certain things for granted,” Charles says of the programme’s appeal.

“There are people in some countries who are facing several challenges and seeking alternative options for their families. They want their children to have a better education, enhanced healthcare options, more safety and more security. That’s why they decide to leave their country or give themselves a second option.”

In his current position at Residency Malta Agency, Charles’ responsibilities span the management of the agency and its business development, but uniting people behind a common cause remains a central focus. “It’s about leading people towards reaching our objectives, which means empowering and motivating the team,” he explains. “At the end of the day, our employees drive the organisation. They are the ones who achieve our goals, and we’re blessed to have a great team of individuals. Understanding their different characters and how they work best can sometimes be challenging, but bringing them all together to achieve the success we’ve had has been one of the most satisfying parts of the role so far.”

The programme is a family-oriented one, allowing applicants to include their parents and grandparents or even their children’s future husbands and wives in their application. This makes it possible to move country as a whole family unit. The programme has also proven popular among people looking to expand their business opportunities, using Malta’s location in the Mediterranean as a base from which to reach other European countries and North Africa.

Not one to lock himself away in an office, Charles describes his leadership style as very hands-on. “I believe you should always lead by example. You should be the first one to get your hands dirty,” he says. “In my past experiences, the people I admired most were always those who joined us on the battlefield – the ones on the front line ready to face challenges. So, I try to mirror their example.”

Charles says the programme has had a positive impact on local stakeholders too, from increased demand for property to the new residents’ needs for professional services, such as lawyers and notaries. “We’ve also noticed a consistent increase in licensed agents looking to work in the industry,” he adds. “The programme is

Since joining Residency Malta Agency, Charles has overseen the revision of the Malta Permanent Residence Programme (MPRP) into its current 249

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generating more business locally and helping to strengthen our local economy.”

Demand for the MPRP has been steadily increasing, but the pandemic appears to have boosted its appeal even further. “I think COVID-19 opened a lot of people’s eyes and made them consider a second residency option,” Charles says. “With the way countries handled the pandemic, I think it actually raised their citizens’ interest in freedom of movement and living a better life, rather than being stifled in their own homes. The Nomad Residence Permit, which targets remote workers, has seen a similar spike in interest.

People are moving around more, taking advantage of being able to work from anywhere. They have been able to open doors to new market opportunities.”

Quick-fire Questions… with Charles Mizzi What is your favourite part of the working day?

Whenever I get to meet people.

Against this encouraging backdrop, the agency recently launched the Startup Residence Programme, which aims to entice third-country nationals to set up their businesses in Malta. The programme is administered jointly with Malta Enterprise. “We are conducting due diligence, from both the business and residency permit perspectives, to ensure we attract only the best talent and projects out there,” Charles explains. “The programme is still in its infancy, but there already appears to be a lot of interest. We’ve had very positive feedback from the market, and we’re hoping to attract more interesting projects and talent to Malta through this initiative.”

Who do you most admire in the global business sphere?

Sir Alex Ferguson.

When it comes to running your organisation, what is your best habit?

My work ethic.

And your worst?

My work ethic, again; it’s difficult to let go.

What’s a hobby that’s been with you since childhood?

Football.

Would you time travel to the past or the future?

When and why?

To the 1970s for the music.

However, this massive increase in demand has not been without its challenges. The agency has had to invest in its systems and personnel in order to remain efficient while processing the high volume of applications coming through. Charles believes the pandemic was actually a positive element in this regard as it gave the agency the space and time to analyse and improve its work patterns – from digitalisation efforts to remote working, which have been maintained even as the pandemic has eased.

“COVID-19 helped to turn the agency around,” he says. “I think we are now a much better organisation, both in terms of our product offering and the efficiency of our operations.”

What attributes do you value most in your team?

Their diligence.

Is there a talent you’d like to have but don’t?

Playing the drums.

What has been the greatest milestone in your career so far?

Leading Residency Malta Agency.

WhatsApp – a useful tool or the bane of your existence?

It’s very useful, but some people take it too far.

With the agency now equipped to handle the demand and plan further investment to remain one step ahead, Charles is focusing on the exciting challenges on the horizon. The agency is seeing interest in its programmes from new jurisdictions like South Africa, Turkey, the USA, and even, post-Brexit, the UK. Charles is consequently seeking new projects and programmes that will allow the agency to remain among the most active and efficient ones in the sector. An example is a potential project aimed at attracting new investment by targeting established businesses that could be enticed to relocate to Malta.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Find people you can learn from.

What is one skill you would like to develop in 2023?

Stress management.

History is repeating itself. True or false?

True.

“The market is constantly evolving, so we need to keep monitoring it and remain on the alert for any opportunities that arise,” Charles says. “One of our missions is to remain competitive in the sector, which we intend on doing by offering added value and a level of service based on integrity. I think this is crucial: we must be transparent and accountable, so integrity needs to remain at the core of our work as we offer increasingly sustainable solutions to Malta’s new residents.”

The world’s biggest priority right now should be…?

The environment.

If you could only focus on one project in 2023, what would it be?

Further developing our team.

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Cenk Kahraman

CEO, FINANCE I N C O R P O R A T E D LT D

“ I A LW AY S R E M I N D M Y T E A M T H A T T H E Y A R E T H E M O S T KNOWLEDGEABLE PEOPLE IN THEIR AREA , NOT ME. SO, I ENCOURAGE THEM TO THINK OUTSIDE THE BOX.”

I F L U C K I S W H A T H A P P E N S W H E N P R E PA R A T I O N M E E T S O P P O R T U N I T Y , T H E N C E N K K A H R A M A N A N D T H E C O M PA N Y H E H E A D S A R E V E R Y L U C KY I N D E E D . W H E N O P P O R T U N I T Y C A M E K N O C K I N G U N D E R T H E G U I S E O F A G LO B A L E M E R G E N CY, B OT H F I N A N C E I N CO R P O R AT E D LT D A N D I T S C E O H A D B E E N P R I O R I T I S I N G P R E PA R A T I O N F O R S O M E Y E A R S , A N D T H E R E S U LT S S P E A K F O R T H E M S E LV E S .

When Cenk Kahraman moved to Malta from Turkey to open a subsidiary of the National Bank of Greece (NBG) 18 years ago, he underestimated just how significant the shift in his career’s trajectory would be. “When I was appointed CEO of NBG in Malta, it was a big change for me,” he recalls. “I had worked in several departments for seven years in Turkey and abroad, but I had always reported to someone else. Now, I was suddenly the decisionmaker. That position taught me a lot, especially how to let go and delegate.”

that delivers a full range of financial services and infrastructure solutions to corporate and individual clients. And, although he was still working in the financial industry, the differences between FI and NBG were stark. “Despite encountering the same players, like the regulators and Central Bank of Malta, moving from an international bank to what was then a very small company was a complete change of scenery,” he admits. “At NBG, we worked mostly with big corporations and shipping firms, while FI deals largely with small- and mediumsized companies and individual clients. The learning curve was steep, but, ultimately, learning never stops, does it?”

Then, five years ago, Cenk took on the role of CEO at Finance Incorporated Limited (FI), a company 252

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CEO INSIGHT “To me, profits are a consequence and not the goal. As a private company, we cannot operate without a good profit, but if you work diligently and responsibly, then profits will come.”

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Cenk describes his role as that of an orchestra conductor, coordinating and re-routing resources as necessary, while focusing on strategy and new business ideas. A self-confessed control freak, he admits to having found delegation to be the most challenging task he ever encountered. “I have now reached a point where I expect my whole management team to also delegate,” he shares. “We have an executive committee consisting of six C-level executives, so I offload everything onto them. I am obviously still responsible and have to report to the Board of Directors and shareholders, but it’s the executive committee that handles the day-to-day business.

“Our team, our company, our home,” reads FI’s mission statement, and that is exactly how Cenk speaks of his colleagues. “The most important thing is that we are a team. We are all part of the same family, and we all treat each other with respect,” he says. “I believe that the 1990s’ business model with its hierarchical structure is not compatible with our environment anymore.

Management is now part of the team.” This is especially the case at FI, where Cenk fosters an open-door policy.

He encourages discussion with his managers about their ideas, but stops short of giving them solutions to their issues. “If they come to me with a question, I also expect them to bring two different possible solutions.

I discuss the problem with them, but I always remind them that they are the most knowledgeable people in their area, not me. So, I encourage them to think outside the box.”

Cenk’s approach to empowering his team worked in his favour when other companies floundered during

I believe that the 1990s’ business model with its hierarchical structure is not compatible with our environment anymore. Management is now part of the team.

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the COVID-19 pandemic. Being able to trust and effectively communicate with his team when they were all working from home was the result of heavy investment in their development well before the crisis hit. In fact, the company has engaged the services of a management coach for a few years now. “She has improved the work-life balance and mental health of our management team,” he explains. “We started our contract with her when the idea of supporting one’s staff with their mental health was not as popular as it is now, and she still visits our offices at least twice a week. We support all those employees encountering problems, whether they be at the office or at home, even if they are going through life-changing events. If a problem can be solved, as a company we try to assist and support.”

Cenk’s delegation of responsibilities and emphasis on coaching paid off when FI’s 60 employees took initiative and stepped up to the plate when forced to work from home during the pandemic. “One of our mottos is ‘let’s do good business’,” says Cenk. “To me, profits are a consequence and not the goal. As a private company, we cannot operate without a good profit, but if you work diligently and responsibly, then profits will come.”

Another unexpected result of the pandemic was the shift towards digital payments, which fortunately aligned with FI’s business strategy. “In general, people became more technologically savvy, which for us meant less time spent needing to explain our products to prospective clients,” he explains. “These changes helped us to swim with the current, not against it, and it led to an increase in customer acquisition in 2020.”

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Cenk also attributes FI’s success during this difficult period to economic forecasting and being prepared for the unexpected. “In general, disaster recovery plans and having a business continuity plan were just concepts before the pandemic, but we really put them to the test during this time, and they have proven to be vital for the whole business sector,” he maintains.

When Cenk joined FI, the company’s commercial plan was based on issuing cards, a line of business that was not as successful as initially imagined. That same year, FI transitioned to a completely new company structure and with it, a new business plan. “Now, we are more like a digital bank, with products and services aimed at individuals, companies and institutions,” he explains. “Being digital and innovative in this area obviously helps because we can do more with fewer people – and that’s the whole idea behind fintech and the digitalisation of finance. In fact, last year, we processed around four million payments with just 60 members of staff.”

Quick-fire Questions… with Cenk Kahraman What is your favourite part of the working day?

Early morning.

Who do you most admire in the global business sphere?

Jamie Dimon, Chairman and CEO of JPMorgan Chase.

When it comes to running your business, what is your best habit?

Listening to my colleagues.

Customers are drawn to FI because of its star products: Paymix Pro, iPaymix and Paymix Via. Paymix Pro is a safe alternative to the classic business bank account that uses multiple payout solutions and enables quicker movement of funds across currencies and borders. iPaymix, on the other hand, is a financial app through which individuals can easily open an account. “We have developed technology that allows us to gather all the necessary information from one’s ID card within the limits stipulated by the Government,” explains Cenk. “It is an easy way of gaining access to a Malta-issued IBAN while keeping your funds safe with European central banks. Then, there is Paymix Via, our newest product, which is aimed at financial institutions and through which we provide clearing services and card-processing services, among others.”

And your worst?

Micromanaging certain aspects of the business.

What’s a hobby that’s been with you since childhood?

Reading.

Would you time travel to the past or the future?

When and why?

To 2523, to witness humankind’s achievements (or failures).

What attributes do you value most in your team?

Teamwork, discussion and passion.

Is there a talent you’d like to have but don’t?

Better organisational skills.

Compliance is FI’s most important pillar. “When you mention compliance, most people think of regulations that limit the impact of money laundering and other financial crimes. Yet, although these regulations are very important, compliance also incorporates matters like the Payment Services Directive, capital adequacy regulations, or health and safety directives,” Cenk elaborates, adding that FI has a local compliance team and a separate legal team that work together to ensure the company always aligns with current regulations, especially putting extra effort on combatting financial crime. “Our technology has multiple layers of screening, which has helped us a lot in this regard. While it can sometimes feel annoying for our clients, this is also how they can feel safer,” he says.

What has been the greatest milestone in your career so far?

Becoming one of banking’s youngest CEOs at 29.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Listening to classical, jazz and indie music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Build and nurture a solid network.

What is one skill you would like to develop in 2023?

Better gardening.

The future looks bright for Cenk and FI, despite the threat of a rise in inflation and global uncertainty. “The financial sector has a difficult time ahead. With the wide-reaching surge in prices, the world’s central banks must coordinate their efforts,” he warns. “As for FI, our focus for 2023 is to expand our reach to other European jurisdictions. We are looking into mergers and acquisitions, which are key because Malta is limited from a physical capacity perspective and, since we want to continue upgrading and perfecting our existing products, we are diverting some of our revenue towards research and development. We aim to be one of the top innovators in Europe.”

History is repeating itself. True or false?

True. It’s a forward-going helix.

The world’s biggest priority right now should be…?

Sustainability and reduction of carbon emissions.

If you could only focus on one project in 2023, what would it be?

Generating zero CO2 emissions.

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Yasmin de Giorgio

CEO, SHIREBURN S O F T WA R E

“ C H O O S I N G T H E R I G H T I D E A S I S WH AT WI L L R E A L LY D E T E R M I N E O U R S U C C E S S . ”

2 0 2 2 M A R K E D YA S M I N D E G I O R G I O ’ S F I R S T F U L L Y E A R A S C E O O F S H I R E B U R N S O F T WA R E , WH I C H WA S E STA B L I S H E D BY H E R FAT H E R , J O H N D E G I O R G I O, I N 1 9 8 3 . N OW, A S S H E TA K E S T H E B U S I N E S S I N TO I TS N EXT PH A S E , S H E B R I N G S H E R E N T R E P R E N E U R I A L E X P E R I E N C E T O B E A R O N T H E C O M PA N Y ’ S CONTINUED GROWTH, COMBINING THE TEAM’S STRENGTHS WITH HER OWN.

training, before being given the opportunity to develop software very early on by a client who is still a client today – that is what got him into software development.”

“Starting your own business is like the best MBA,” reveals serial entrepreneur Yasmin de Giorgio, who founded three successful businesses within five years before being made CEO of Shireburn Software in 2021.

Since then, she attributes the company’s success to John’s mentality and belief that “when you design software, you can either design it for one person or for many. You could build 100 different software for 100 different clients, or you could build one that fits the needs of at least 90 per cent of them. That’s really been the foundation of the company’s success.”

“It’s very much a baptism of fire in different aspects,” she notes, pointing out that to succeed you have to develop skills that are crucial, including people management and motivation, as well as thinking strategically and making the right decisions. “In my case, all my businesses were bootstrapped, so I had limited resources and really needed to allocate them properly. In this way I learnt how to control costs and to be strategic about where to focus my energy.”

Describing her father as an early innovator in this respect, the young CEO goes on to say that, nowadays, many software companies are moving to a product-led approach. However, in Shireburn’s case, longstanding business relationships with clients in the local context have meant that the company as a whole has a lot more brand recognition than some of its individual

2022 marked Yasmin’s first full year as CEO of Shireburn Software, which was established by her father, John de Giorgio, in 1983. Delving into the company’s history, she explains, “my father actually started out in computer 258

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CEO INSIGHT “Someone once told me that the problem in business is not having problems, but having the same problems. When you have interesting problems, it’s exciting!”

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The way I’ll be able to judge my performance over the next couple of years is through the investment decisions that we are taking now.

products. Today, Yasmin’s focus is to balance this equity with bringing the company into a new era of software development.

“An interesting fact about Shireburn is that it’s been through three major technological shifts, from MS-DOS, to Windows, and into the Cloud; a feat that few software companies have managed to achieve. With the Indigo Suite, we’ve moved into the Cloud era, and we are now redeveloping some of our other products onto the Cloud,” she maintains.

In fact, for Yasmin, this defines one of her biggest challenges, which doubles up as one of the most rewarding aspects of her role within the company.

“There are so many opportunities in different areas that we could invest in, but obviously we can’t invest in all of them – we have to choose! So, the way I’ll be able to judge my performance over the next couple of years will really be through the investment decisions that we are taking now.”

Since embarking on her journey as CEO in 2021, Yasmin has begun making her mark with an internal

restructuring, which saw the senior management team’s roles change significantly. “Change management within an organisation when you come in as a new CEO – especially since it is my father’s business – definitely puts the pressure on to manage it properly. If you get things wrong early on, there’s quite a lot at stake,” she explains, describing its success as her first major milestone within the business, of which she is very proud.

The second milestone has been the launch of Insights, a product which Yasmin says had been on the company’s wish list for some time. “In software, when it comes to building a feature that you believe will add value but which your clients aren’t asking for yet, it can be hard to prioritise the time to execute it – but we took the risk, and I’m really happy that we managed to prioritise enough development time to get it done,” she shares.

Describing the aspects she enjoys most about her role, Yasmin points to problem-solving discussions with a team of people she trusts and admires. “Someone once told me that the problem in business is not having problems, but having the same problems. When you have interesting problems, it’s exciting! In our business, we are constantly faced with different issues to tackle and decisions to make and, for me, having always run my own companies, being able to sit with people who have a lot more experience than me in certain aspects; I learn so much, and always get inspired by listening to their perspectives.”

The most challenging part, meanwhile, is time management. Upon her appointment at Shireburn, Yasmin was adamant that Sanya Eco Spa – one of her 260

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best-known projects – would remain a pillar of her life.

Today, the balance between the two certainly gives the CEO a lot to contend with and she admits that running two companies puts a limit on her time. “I can’t be in two places at once – there’s so much I want to do and I don’t always have the time to do it.”

The only reason she is able to manage is because of the capable teams behind each business, she says.

Quick-fire Questions… with Yasmin de Giorgio

“Shireburn has a stable senior leadership team that is very experienced and driven, and I can honestly say that it can run the company without me. Of course I give my strategic input, but the quality of the team really is high.

What is your favourite part of the working day?

Having tea at the start of my meetings; it’s one of my rituals.

Who do you most admire in the global business sphere?

Horst Rechelbacher, who started Aveda. He showed me you can build a business consciously, aligned with your values.

“On the Sanya side, it’s a younger business so it’s a bit more dependent on me, but I’m thankful that it reached maturity at around the same time as I was taking on the CEO role at Shireburn – I wouldn’t have managed before that,” Yasmin states, noting that her role at Sanya today is non-operational, so she doesn’t get involved in the day-today running of the business. “I am very passionate about wellness, so I still see clients, teach and host workshops. It’s more of a teaching and knowledge sharing role today.”

When it comes to running the business, what is your best habit?

Meditation.

And your worst?

Forgetfulness.

Turning her attention to the future of Shireburn, the CEO reveals that one of the biggest projects the team is working on is redeveloping the accounting system, Shireburn Business Suite (SBS), which she describes as a core product, not only internally but on the local market too.

“Redeveloping software now – especially for web, with reference to robust business software that needs to deal with millions of transactions – in a web environment is much more costly than it was back when we were developing on Windows. With the higher investment comes greater risk,” Yasmin maintains, describing it as one of her biggest yardsticks when taking over the CEO role.

What’s a hobby that’s been with you since childhood?

Sailing.

Would you time travel to the past or the future?

When and why?

I would love to go back in time and sit with some of the people I really admire.

What attributes do you value most in your team?

Humility.

Is there a talent you’d like to have but don’t?

I wish I could sing better!

What has been the greatest milestone in your career so far?

Making Sanya profitable.

“Many of our clients rely on this software for their businesses. So, over the next few years, this will shape how the company is going to look, how quickly we scale up the software, and how much the team is going to grow. With regard to the Indigo Suite, we are also investing heavily in HR features, and beefing up our products overall; it’s going to be very interesting in the coming years to see what we can deliver.”

WhatsApp – a useful tool or the bane of your existence?

Useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Invest more in specific education for business.

Certainly, developing such products marks a major opportunity for the business going forward, which Yasmin is well aware of. “Choosing the right ideas is what will really determine our success,” she affirms, highlighting the inherent challenges.

What is one skill you would like to develop in 2023?

I’d love to learn how to speak Hindi.

“With product development, you want to bring your product to the market as early as possible, so you can gather feedback from your clients and improve on it. To do that, you have to release products with certain features, while other features have to wait,” the CEO explains, adding, “the bigger the system, the more of these choices you have to make, but having people with such vast experience helps make these decisions a little easier, and also helps me to sleep better at night!”

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History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Raising the level of human consciousness.

If you could only focus on one project in 2023, what would it be?

Building a retreat centre.

MaltaCEOs 2023

CEO INSIGHT

THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

“Don’t be a perfectionist – you can do that once you have put everything in place and the systems are working well.”

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Yakof Agius

C E O , YA K O F A G I U S & A S S O C I AT E S

“BE SMART ABOUT HOW YOU INVEST YO U R T I M E A N D E N E R G Y.”

O V E R T H E PA S T D E C A D E , YA K O F A G I U S H A S G A R N E R E D A W E A LT H O F E X P E R I E N C E H A N D L I N G A L L A S P E C T S O F M A LT A ’ S R E S I D E N C E A N D C I T I Z E N S H I P B Y I N V E S T M E N T P R O G R A M M E S . T O D AY , A S F O U N D E R A N D C E O O F T H E C O N S U LT I N G F I R M YA K O F A G I U S & A S S O C I A T E S , H E S H A R E S H I S K N O W- H O W W I T H G O V E R N M E N T S , F I R M S A N D C L I E N T S .

“I wear many different hats,” Yakof Agius smiles, as he describes his ascent from working on hardware repairs in the IT sector to founding and running his own consulting firm. “I used to work on structured cabling and repairs on printers – that sort of thing.

But, I always liked to challenge myself. So, whenever there was the opportunity, I shifted gears,” he explains.

on number-crunching, but could only be achieved through negotiating with people,” he continues.

This experience served him in good stead because, after some time, Yakof was offered a post to join one of the residence and citizenship by investment firms as Group Head of HR. “At the time, I had gained multiple skills that could be applied in different areas – I was a sort of Swiss knife in the office,” he laughs.

With major IT infrastructure projects under his belt, he then pivoted his career into banking.

More specifically, as a call centre agent for a major international bank. A few months into this role, his superiors offered him the opportunity to work in the back office with the management team, where he discovered his passion for human resources. “I became fascinated with how our objectives relied

After just three-and-a-half years, this flexibility allowed Yakof to move into the public sector, where he was appointed Chief Officer for Risk and Compliance at the Government agency which ran the citizenship by investment programme. “While I wasn’t there for very long, I completely redesigned 263

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I plan to expand my team of associates and our operations to engage with different programmes in different countries. the due diligence process during my tenure and it became recognised as the gold standard for such programmes, across the globe,” he asserts.

In 2018, Yakof left the agency to start CIVIQUO, an online platform that married the entrepreneur’s interest in software development and his years of experience working in the investment migration space. CIVIQUO helps clients with the decision-making process, and to ultimately start their journey towards acquiring residence or citizenship by investment,” the CEO explains. “When I launched the platform, I had already worn almost every hat in the industry – I had written procedures and policies, I had overseen human capital in the sector, and I had promoted Malta’s programme myself. And, with CIVIQUO, I shifted into digital marketing for residence and citizenship by investment,” he says.

Coupled with this, Yakof was frequently approached by industry colleagues for advice on how best to prepare citizenship by investment applications. “Due to my unique experience, I was able to bridge the gap between the letter and the spirit of the programme, and what these accredited firms and lawyers needed to do for their clients,” the CEO explains. Therefore, he continues, “I was able to help agents focus on certain points in their supporting documentation,

highlighting the issues they should be looking for and addressing, as well as ensuring they had submitted all the information they needed to in terms of their clients’ source of wealth,” Yakof explains, saying that this input increased the acceptance rate for applicants looking for residence or citizenship by investment in Malta.

Today, Yakof, while still involved in the running of CIVIQUO, states that this has become autonomous and self-sustaining, and he, thus, invests his time and energy in his new consultancy firm, Yakof Agius & Associates, which provides technical guidance to governments, firms and clients. In each case, he says, “my role is to route the information to the right people, and make sure that the actions required are completed by those responsible.”

The biggest challenges he faces, as Founder and CEO of the consultancy firm, are “being able to stick to a defined deadline and timeline,” he explains, “since you rely on a number of stakeholders: you need the client or the agent to give you the information; you need the

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Government agency’s response; and so on. To be able to make those processes work together can be challenging,” he explains.

However, this is also part of what excites Yakof. “I love to give advice and coordinate functions,” he explains, although he is careful about how he manages his efforts. “I’m very focused on what generates revenue,” he says, adding that his advice to fledgling business leaders is to “be smart about how you invest your time and energy. Be careful who you give these to, and make sure that you dedicate them to tasks which will be revenue generating. Don’t be a perfectionist – you can do that once you have put everything in place and the systems are working well,” he states.

Quick-fire Questions… with Yakof Agius What is your favourite part of the working day?

The afternoon.

Who do you most admire in the global business sphere?

No one really, but I value Henry Ford’s insights.

This is a mantra he is dedicated to, and, indeed, throughout his career, Yakof has always created first, then improved processes to maximise efficiency. As a tool to help guide practitioners – whose task it is to show that their client is a fit and proper applicant, and worthy of being a Maltese and EU citizen – Yakof came up with a nine-point risk assessment framework. “This is a compass which pinpoints the nine aspects we understand to be essential considerations which must be explored when considering an application for citizenship,” he explains.

When it comes to running your business, what is your best habit?

Prioritise, especially those revenue-generating actions.

And your worst?

I like to explain – in detail – before I get to the point.

What’s a hobby that’s been with you since childhood?

Video games.

Would you time travel to the past or the future?

When and why?

The past – it’s where you can fix things.

This framework is current state-of-the-art, and largely dispels myths surrounding due diligence procedures around citizenship by investment programmes. “Many of the issues with the citizenship by investment programme in Malta stem from a misunderstanding the public has of what it consists of. There is an immense amount of screening which takes place before someone is granted Maltese citizenship; it’s a meticulous process, and the number of those who succeed in becoming a citizen pales in comparison to the number of people who become naturalised in Europe through ordinary mechanisms,” he explains.

What attributes do you value most in your team?

They are genuine people with positive vibes.

Is there a talent you’d like to have but don’t?

To be able to play the guitar.

What has been the greatest milestone in your career so far?

I see it as a progression, so I do not have a greatest milestone.

With this in mind, he is concerned about the EU’s call to end such citizenship by investment programmes. “I think this is a politically driven issue and I believe the EU needs to stop arguing about whether to allow the programmes or not, and should instead focus on designing effective citizenship solutions which prioritise due diligence and which are fair to the countries involved. Everyone has their beliefs, but the EU needs to come to terms with the necessity for these initiatives, and focus on how to implement them properly, in a way which is beneficial,” he asserts.

WhatsApp – a useful tool or the bane of your existence?

Useful.

Do you focus best in complete silence, with background noise, or while listening to music?

It depends on the task. Repetitive tasks are definitely accompanied by music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Be very careful who you give your time and energy to.

Looking ahead to the rest of this year, Yakof remains optimistic about the health of the sector. “My plan is to expand my team of associates, as well as to be able to continue supporting clients, even after they are naturalised,” he says. His ambitions, he stresses, are not “of tremendous growth” to the exclusion of other considerations. Rather, he is driven to make “meaningful interventions” in the lives of those seeking residence or citizenship by investment solutions, as well as the agents helping them achieve this, and governments keen to offer such services. “We want to contribute to the industry. We are determined to fix the issues which exist in this sector, while being profitable in doing so,” he concludes.

What is one skill you would like to develop in 2023?

Programming.

History is repeating itself. True or false?

Always true.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

My early retirement!

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CEO INSIGHT “At every turn, there’s an opportunity waiting to be seized. The key is to recognise it, figure out where the value lies, and the best way to capitalise on it.”

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Renaldo Arciola

CEO, FONICOM

“ R ECO G N I S E WH AT C L I E N TS N E E D.”

O V E R T H E PA S T 1 4 Y E A R S , I C T S O L U T I O N S F I R M F O N I C O M H A S B U I LT AN IMPRESSIVE PORTFOLIO OF CLIENTS – WHICH INCLUDES FOUR F O R T U N E 5 0 0 C O M PA N I E S A N D 4 3 T E L C O S – E X PA N D I N G T O P R O V I D E S E R V I C E S T O PA R T N E R S A C R O S S F I V E C O N T I N E N T S . A T I T S H E L M , C E O R E N A L D O A R C I O L A H A S ST E E R E D T H I S G R OW T H , PR OVI N G T H AT EVE N HOME- GROWN ENTERPRISES CAN PUNCH ABOVE THEIR WEIGHT.

At the beginning of the millennium, Renaldo began exploring the opportunity to tap into the tech industry. “I was fascinated by technology, although I couldn’t visualise which role within the industry I could pursue,” he recalls.

By the age of 12, he had already started dabbling in new technology, by building Malta’s first Bulletin Board System (BBS), a connected platform which allowed people to exchange messages via computer modems in the preinternet era.

Renaldo’s drive to think outside the box, and to generate new processes and ways of doing business marked the start of Fonicom. “The company I was working for at the time was on the market in search of a new phone system; the goal was to acquire a set of devices which could be integrated with a computer system in order to automate staff workflows and client interaction. I remember calling up various suppliers to request quotes, all of which were very expensive and could not justify the cost in terms of value. I then recall thinking, ‘well, I can build this myself’ with the technical knowledge I had gained from creating the BBS,” Renaldo continues.

Later, while continuing to find his feet, Renaldo became a shareholder in a property servicing company, specialising in flooring and upholstery, a role which was outside of his expertise, but which allowed him to test some of his approaches. “We brought in a lot of technical innovations – some of which are still being used in that industry today,” he smiles.

He started to research what it would entail, and crossed paths with Kias Hanifa, who would eventually take on the role of Chief Technology Officer at Fonicom. “We met in an online forum, and realised we were trying to achieve the same thing, albeit with different approaches. So, we started to collaborate, building this phone system, while also discussing how we could monetise our ideas,” Renaldo

Renaldo Arciola is the epitome of a self-starter, and a living example of the way in which fortune favours the brave.

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says, adding that he was then encouraged to participate in Malta’s Junior Chamber Best Business Plan competition.

This was a crucial initiative that led to the first round of seed funding for the company, back in 2008.

that the enterprise has recently been awarded the Dell Rising Star Award. “It has only been awarded seven times in Dell’s history, so this has been quite a journey.”

Part of the secret to this success, he says, is to “spend time researching, thinking and trying to understand what clients need. Many times, entrepreneurs try to create a new market, when there’s already a market and a gap within it, waiting to be addressed. So, you must do your research and try to position your company and offerings strategically, creating a portfolio of products and services that bring value to customers.” Renaldo thinks that, locally, we can become too focused on replicating an idea which has been implemented before, elsewhere, thus “cannibalising the market.”

“That was a very critical moment, since, through this opportunity, we also met some of our first investors and shareholders, some of whom are still with us today, and who have been instrumental in helping me grow personally, and helping us build the business,” Renaldo says. It also pushed the enterprise through two further successful rounds of funding which allowed it to start to consolidate its offerings.

Today, Fonicom provides systems integration – including networking, security, storage and cloud solutions – as well as specific solutions within the telecoms sphere and a software house specialising in the development of AI, Machine Learning, Automation and Productivity technologies. Fonicom is also the company behind Raiseaticket.com, a cloud helpdesk solution ranked among the very top in the industry, used by over 5,000 customers worldwide. “One of our biggest achievements from those early days was our ability to onboard top tier blue-chip clients. Nowadays, we provide our services to 43 telco operators and enterprises, across five continents. These include some of the largest firms in the world, including four Fortune 500 companies. We’re a relatively young company based in Malta, yet we’ve managed to expand to the Netherlands, and even to India,” Renaldo attests, adding

In his view, long-term progress can be achieved through four principles, which, the CEO explains, have been adopted at Fonicom. “Firstly, we aim to provide value to all our stakeholders – be they our employees, clients, or shareholders. Secondly, we always try to keep things simple. This may sound like a cliché but streamlining and simplifying processes and offerings is essential. Thirdly,

We think outside the box and are capable of executing. This gives us the ability to punch above our weight. So, rather than simply throw resources at a problem, we think smart.

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we keep business nimble, and, finally, we keep searching – we don’t settle – in other words, we keep searching for ways to improve, to become more efficient and to extrapolate more value,” he explains.

Adhering to these axioms over the years, the company has navigated significant disruption within the telco technology space. “Our origins were deeply rooted in telecoms – we used to design systems helping operators innovate and move to modern interconnection methods, based on IP. However, as soon as VoIP started being consumerised and mobile data started to proliferate, we saw transformational changes within the industry. The same applied to the enterprise technology space,” Renaldo says.

Understanding these seismic shifts and what to look out for is key, and Fonicom’s leadership team ensures the firm keeps up with developments. “Every three years we go through a consolidation period, where we analyse industry trends and make sure to position ourselves in the right place, using the right tech, the right expertise and affecting the right execution. This exercise often brings about a radical shift in the way we operate and deliver our offerings,” he explains.

Renaldo relishes the creativity that his role provides – “it gives me a real kick, and we’re very lucky to have directors and shareholders who give us the space to be inventive, really ambitious, and to go after dreams that appear to be wild goose chases,” he laughs. Indeed, this is also part of what differentiates Fonicom from its competitors. “One of the reasons why our people and our clients opt for us, is our approach. We think outside the box and are capable of executing – which gives us the ability to punch above our weight. So, rather than simply throw resources at a problem, we think smart,” he says.

Looking ahead, the first few months of 2023 will see an expansion of the company’s portfolio of offerings, with a focus on AI. Indeed, the firm is in the process of developing a powerful AI tool – which is currently going through rounds of tests in beta form – and which can be used to facilitate the creation of content and streamline processes across various sectors. The game-changer, here, is that the application interface makes the tech simple to use, even for nonspecialists, due, in part, to its use of natural languages, such as English.

“We realised a division exists between those organisations that are in a position to attract and pay for AI expertise and those that are not, but could still greatly benefit from the capabilities such technology provides. So, by means of this tool, we’re working on democratising AI and making it accessible in order for it to be used in ways that are meaningful to different professionals and businesses.”

Moreover, this, he adds, is part of Fonicom’s drive to align itself with robust ESG principles. “Making AI accessible is very much tied to our overall goals and objectives for the company,” he attests.

Ultimately, he concludes, underlining the philosophy which has led to the company’s success, “at every turn, there’s an opportunity waiting to be seized. The key is to recognise it, figure out where the value lies, and the best way to capitalise on it.”

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Quick-fire Questions… with Renaldo Arciola What is your favourite part of the working day?

The evenings. I focus more when it’s quiet.

Who do you most admire in the global business sphere?

No one in particular.

When it comes to running your business, what is your best habit?

Lots of communication.

And your worst?

My disorganised desk.

What’s a hobby that’s been with you since childhood?

Digital communication technology. It intrigued me from a very young age, and I had built the first Bulletin Board System in Malta.

Would you time travel to the past or the future?

When and why?

Probably 1900s Paris, during la belle époque.

What attributes do you value most in your team?

Incredible teamwork, creativity and ingenuity.

Is there a talent you’d like to have but don’t?

I’m pretty content with the talents I have.

What has been the greatest milestone in your career so far?

Achieving the success of my company as it stands today.

WhatsApp – a useful tool or the bane of your existence?

It’s useful, though annoying at times.

Do you focus best in complete silence, with background noise, or while listening to music?

Complete silence.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Read, research, read, research.

What is one skill you would like to develop in 2023?

Mastering the efficient use of language to communicate more effectively.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

The AI project at Fonicom.

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

Jonathan De Giovanni

CEO AND MANAGING DIRECTOR, PROMETHEAN

“ YOU DON’ T GET BUSINESS SIT TING BEHIND A DESK.”

WH I L E 2 0 2 2 WA S T H R OWI N G N EW A N D U N EXPE CT E D C H A L L E N G E S AT B U S I N E S S E S , J O N AT H A N D E G I OVA N N I WA S E STA B L I S H I N G H I S PR ACT I C E O N T H E I N T E R N AT I O N A L STAG E A S C EO O F PR O M E T H E A N , FO L LOWI N G I TS ACQ U I S I T I O N BY A P Q G LO B A L . I T WA S T H E L AT E ST L A N D M A R K I N H I S M E T E O R I C L E G A L C A R E E R B U T , H A V I N G S U C C E S S F U L LY N A V I G A T E D T H E O B STAC L E S B E H I N D H I M , J O N AT H A N ’ S VI S I O N FO R T H E N EXT F EW YE A R S PROMISES NOTHING SHORT OF EXPONENTIAL GROWTH.

As a young law student, Jonathan De Giovanni, like most of his peers, was fascinated by TV shows like Boston Legal and Ally McBeal, and dreamed of a career as a high-powered criminal lawyer. But, displaying a mindfulness of the market that continues to define his career today, he quickly realised his ambitions would be better served in another field.

me: my ability to sell,” he recalls. “That’s when I learned that my forte is going out there, building a client base and bringing in investment. Ever since then, huge clients have come aboard – from multinationals to highnet-worth individuals. I’ve seen a lot, and I’m still 37.”

Jonathan has, indeed, seen a lot. Leaving his first place of employment after five years, he joined what was back then a local audit firm with the specific mandate of internationalising its operations. Within two years, with clients flowing into the business, he was made Equity Partner. Then, in 2021, after nine years with the firm, he began a process whereby the company would be spun off and sold to a new international investor, APQ Global, rebranding as Promethean, with Jonathan taking up the role of CEO for Malta and Milan in a truly global setup.

So, courtroom plans were put aside, and Jonathan dove headfirst into years of specialised study in international tax law. And, while this expertise has propelled him through a highly successful career that shows no signs of abating, it wasn’t until his first job in a law firm that he discovered the trait that he believes sets him apart.

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CEO INSIGHT “Your employees are your vehicle of execution, so you inevitably need to add value to the firm by adding value to each and every employee.”

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It’s easy to think of Malta as the be-all and end-all. But when you merge into an international system and are exposed to a certain calibre of people, you realise it’s just the tip of the iceberg.

adding value to each and every employee,” he explains.

“Then at client level, because a client needs to feel like you’re adding value to the fee he’s paying, which I do by maintaining a very intimate professional connection with my clients. Adding value here means giving an edge to your client over what your competitor can offer, because competition is fierce in this field.”

“I’m back to being out there gobbling up every opportunity possible,” he laughs. “I’m very opportunitythirsty as a CEO. That’s important because you don’t get business sitting behind a desk.”

Getting this far has not been without its challenges.

Jonathan describes a ‘surreal’ lifestyle of constant travel and a lack of downtime, with sleepless nights and long, unpredictable work days. But the ability to step into a new, international reality has made it all worthwhile.

“It’s easy to think of Malta as the be-all and end-all. But, when you merge into an international system and are exposed to a certain calibre of people, you realise it’s just the tip of the iceberg,” he says. “The contacts you make, and even simply having coffee with someone who can give you a completely different insight into a problem you’re facing… well, you can’t put a price tag on that. It all comes down to my desire to learn, which is crucial to me. I know that, once you’ve lost that, you’ve killed your career.”

The work ethos that ties it all up for Jonathan is easily summarised: adding value. “First, at employee level, because your employees are your vehicle of execution, so you inevitably need to add value to the firm by 275

Promethean, the vehicle through which Jonathan puts these values into practice, is at its core a corporate services provider offering a full range of legal services.

But what sets it apart is what Jonathan terms ‘Promethean finesse’. “We’re offering a large law firm service in a boutique context, keeping the client at the centre of our focus and offering them myriad services to render their life easier. We’re combining the expertise of a legal practice with the approach of a concierge service for high-net-worth individuals.”

What this means is that while Promethean primarily operates in the financial services industry – including investment services, investment funds and Forex firms – it also targets a range of other service lines its clients may require, including global mobility services, as well as aircraft and yacht registration, leasing and finance.

“We also service a number of gaming operators. We profess to be the firm of choice for the high-net-worth individual and his or her business, wanting a complete package,” Jonathan explains. “Whether they have global mobility issues or want to register an aircraft or yacht, we’re there providing those services.”

The vision by which Promethean thrives is clear. “It aims to consolidate itself in the Maltese market – because

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

we offer a Maltese solution to international clients – both by organic growth and also by further mergers and acquisitions. The vision is to grow exponentially. We’re not here to waste time; we’re here to grow.”

2022, however, did not present the easiest set of circumstances for the company. Still finding its feet in its new international set-up, it had to contend with the triple challenges of the pandemic, the outbreak of war in Ukraine, and the fall-out of Malta’s addition to – and subsequent removal from – the FATF grey list. “Greylisting had an enormous impact on the industry, because authorities who perhaps used to take a textbook approach to certain aspects of the business suddenly started to overregulate,” Jonathan believes. “There were suddenly new norms, new ways of doing business, new questions to ask our clients, new things we hadn’t ever dreamed of.” And while he stresses the importance of regulation, he cautions against going too far in the opposite direction. “AML is vital, but it’s there to be observed, not to replace deal-making.

Otherwise, we’ll end up stifling business and losing our competitive edge.”

Quick-fire Questions… with Jonathan De Giovanni What is your favourite part of the working day?

Client meetings and networking.

Who do you most admire in the global business sphere?

Former Microsoft CEO, Steve Ballmer.

When it comes to running your business, what is your best habit?

Being an early riser.

And your worst?

I tend to be overly perfection focused and moody.

What’s a hobby that’s been with you since childhood?

Reading.

He is less circumspect about the impact of the war.

“Nothing good comes of war,” he says. “With our global mobility practice, when you sanction a particular international market, such as, in this case, the Russian one, you stalemate the market. You have to reinvent yourself, focus on different markets, but it takes time, effort, cost and strategy.”

Would you time travel to the past or the future?

When and why?

Neither, I live in the present.

What attributes do you value most in your team?

Loyalty, motivation and an eagerness to learn.

Heading into 2023, then, Jonathan is keen to put this transitional phase to rest and help the company thrive in its new shoes. Promethean is investing further in its human resources and adding new skillsets to its team, with plans to offer new services in data protection and civil litigation, while also venturing into fields such as securitisation and impact consulting. As always, Jonathan’s eyes are also open to new opportunities in other areas of added value to the local economy, from biotech to AI and DLT.

Is there a talent you’d like to have but don’t?

Basketball. But with my height, it’s not happening.

What has been the greatest milestone in your career so far?

Building a practice from scratch and spinning off internationally.

WhatsApp – a useful tool or the bane of your existence?

Essential tool.

Nevertheless, he warns that the world has become “unpredictable” and that, between the curveballs of the last year and the ever-increasing amount of regulation, the industry and smaller providers in particular could be facing a challenging road ahead. “2022 was a catalyst year, where we adapted to new systems that have helped us increase our performance, facilitate client acceptance and offer a much faster service,” he says. “There are significant obstacles ahead, and we’re aiming to use our technological expertise to overcome them. In 2023, technology is going to be the line of distinction, and Promethean has the right resources to invest in that technology.”

Do you focus best in complete silence, with background noise, or while listening to music?

Depends on my mood – background noise is my least favourite unless it’s ocean waves.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Trust your gut even more.

What is one skill you would like to develop in 2023?

Patience.

History is repeating itself. True or false?

False.

Jonathan is therefore firm in his belief that Promethean is well-placed to consolidate its brand and position itself as a leading pioneer in the upscale market. “We’re very thirsty for business,” he says. “We’re now in a situation where we want to grow the business exponentially in the next couple of years by identifying target sectors and capitalising on the resources of the group. So, we really are well-positioned to grow and to offer a service that is quite unparalleled in the local economy.”

The world’s biggest priority right now should be…?

Peace.

If you could only focus on one project in 2023, what would it be?

Firm growth, both on a human resources and a client portfolio level.

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Edward Borg Grech

CEO, BLUEFORT

“ I LOVE I N S PI R I N G OT H E R S TO WO R K TOWA R D S A G OA L .”

A F T E R S EVE R A L YE A R S WO R K I N G A S A N E N T E R PR I S E S O F T WA R E A R C H I T E CT, E DWA R D B O R G G R E C H FO U N D E D B LU E FO RT I N 2 0 1 4 , A G LO B A L S O F T WA R E A N D S E R VI C E S F I R M O F F E R I N G S U B S C R I PT I O N B A S E D S O L U T I O N S . T O D AY , T H E C O M PA N Y B O A S T S A W I D E I N T E R N AT I O N A L C L I E N T E L E A N D, WI T H E DWA R D’ S ST E A DY H A N D ON THE WHEEL , REMAINS POISED TO KEEP MOVING AHEAD.

Edward Borg Grech, CEO of IT solutions firm Bluefort, prides himself on being a strategist, intent on keeping his – and his team’s – eyes on the goal towards further transformation of the company.

2014, Edward has seen Bluefort go from strength to strength.

Having graduated in Business Information Systems and, later, earning a Master’s in Software Development and an MBA from Henley, Edward has used the experience garnered from his years of working “in the lower weeds” of the software business – and later moving on to more businessrelated roles – to provide an offering he knew would benefit the market.

Bluefort is an independent software vendor (ISV) for Microsoft, offering subscription-based digital packages, all designed in-house. “I enjoy observing the market, our customers, and what’s happening in the broader sector and, then, converting that into a direction and designing a plan on how we’re going to get there,” he smiles.

“As an enterprise software architect, I was helping customers understand the business value of using existing software with minimal customisations and aligning it to their business process, rather

And it seems this approach has borne fruit, for, in the eight years since the company was founded in 278

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CEO INSIGHT “All the growing pains experienced by young leaders are just par for the course.

Even the most successful entrepreneurs have had to deal with issues to do with cash flow, human resources and communications. But, you just have to keep going.”

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We see a very bright future for the company this year, particularly since the subscription economy is growing. It offers great advantages, including business forecastability, so our clients can plan ahead based on past trends.

customer came in 2019 but we really saw business rolling in from 2020, which was a very good year for us, since companies saw a greater need for our automation solutions, and we began to grow internationally,” he continues.

Today, the company focuses its business on building networks and a solid clientele based abroad. “Our customers hail from across the globe, and we also have a subsidiary in the UK which handles our British customers.

The UK is one of our core markets, although it didn’t accelerate as fast as we’d hoped in 2022, principally due to the political and financial situation there,” Edward explains.

than getting them to build new software from scratch and re-invent the wheel. I found this to be a productive approach, and I wanted to take this approach to the next level. That’s how Bluefort was born,” he explains.

The company started out serving the local market, adapting software to the needs of Maltese firms and operating as a Microsoft Dynamics 365 partner, offering expert advice in selecting, purchasing and utilising the software giant’s applications. “However, we noticed there was a huge gap in the platform, in that it could not offer recurring engagements with customers and suppliers,” Edward recalls.

Indeed, last year proved challenging in more ways than one. “There were more competitors, our offering became more commoditised; and there were bigger companies consolidating smaller enterprises. However, we also noticed increasing demand for subscription-based services, so there were opportunities for us to capitalise on the years of experience we had, and to offer a stronger service,” he explains.

This motivated the team to create their own product suite, designing their own IP for subscription management – a product named LISA – and bringing this end-to-end solution to the 365 platform. “Our first

In these circumstances, the CEO pivoted the company to capitalise on growing segments. “We were able to invest the time in developing our IP further, and in increasing 280

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the number of channels through which we generate business. Moreover, last year, we were also able to return to physical events, meeting people face-to-face and explaining our solutions, which reaped more rewards than digital selling had during the COVID-19 pandemic.”

Edward’s ability to enable, lead and support his team has been invaluable during this period, as well as when the company was in its infancy. “I don’t like to micromanage; I love inspiring others to work towards a goal, to get people driven towards a direction, and to keep them focused on that road. It’s challenging to make sure that everyone remains on track – probably the most demanding part of the job – but ensuring we don’t stray away from the ultimate goal is essential.”

Indeed, he sees persistence as the cornerstone of success.

“All the growing pains experienced by young leaders starting out in business are just par for the course. Even the most successful entrepreneurs have had to deal with issues to do with cash flow, human resources and communications. But, you just have to keep going.”

Quick-fire Questions… with Edward Borg Grech What is your favourite part of the working day?

The morning, energised to get things moving.

Who do you most admire in the global business sphere?

Business leaders who are true to themselves.

When it comes to running your business, what is your best habit?

Never ignoring my gut feeling.

And your worst?

Working too hard.

This drive is also evident in the way Edward runs his routine – “I spend my first hour catching up on emails, since we have clients in the US” – and in his philosophy on a work-life balance. “I don’t separate work from ‘life’, so to speak, since it creates undue mental stress. I just think of it as integral to my everyday programme, and part of my routine, so just as you take care of your health and what you eat, you also need to make sure you have long- and short-term goals,” he says.

What’s a hobby that’s been with you since childhood?

Eating.

Indeed, Edward looks ahead to the rest of 2023 with optimism. “We see a very bright future for the company this year, particularly since the subscription economy is growing.

This is because of the advantages it offers – such as business forecastability – with our clients being able to plan ahead based on past trends.”

Is there a talent you’d like to have but don’t?

Being able to blog.

With this in mind, Edward plans to lead the company to make inroads in the SME market. “So far, we’ve been focusing on the mid-market to enterprise category of businesses, that is firms with between 500 and up to 10,000 employees. This strategy has been very successful, but it takes a lot of effort to onboard them. So, we’re hoping to start attracting smaller firms to grow our customer base.”

In parallel, Bluefort is developing an offshoot of their subscription solution, called LISA Business, “targeting smaller clients, with a price point and functionalities catering to their realities,” Edward explains. “We’d like to focus on bringing the value we give to our high-end customers to smaller firms, and so bring our solution to the masses.”

In tandem, the CEO will drive his company to increase its global reselling partners, helping them to also grow their businesses. For, ultimately, investing in relationships – whether with his team, his clients or his firm’s international stakeholders – is what motivates Edward to keep striving to better the prospects for Bluefort – “relationships help build accountability, after all,” he asserts.

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Would you time travel to the past or the future?

When and why?

Neither. I am right where I belong.

What attributes do you value most in your team?

Integrity, intelligence and adaptability to change.

What has been the greatest milestone in your career so far?

Building international relationships in the industry.

WhatsApp – a useful tool or the bane of your existence?

Useful.

Do you focus best in complete silence, with background noise, or while listening to music?

While listening to music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Try to start working in the industry earlier.

What is one skill you would like to develop in 2023?

To learn how to blog and be active on socials.

History is repeating itself. True or false?

The different qualities of humanity are continuously repeated.

The world’s biggest priority right now should be…?

Avoiding war.

If you could only focus on one project in 2023, what would it be?

To build more international relationships.

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“Intense times of turmoil push you to mature and learn at a much faster rate than you would in a normal year.”

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Roderick Abela

CEO, N E C T A R LT D

“ S O M E O F T H E G R E AT E ST O PP O RTU N I T I E S EMERGE FROM CRISES.”

S U P P LY I N G O V E R 3 , 1 0 0 R E T A I L A N D F O O D S E R V I C E C L I E N T S I N T H E F O O D A N D B E V E R A G E I N D U S T R Y , F A M I LY - O W N E D A N D - R U N N E C T A R H A S G O N E F R O M S T R E N G T H T O S T R E N G T H O V E R T H E PA S T 3 1 Y E A R S , A L M O S T S PA N N I N G C E O R O D E R I C K A B E L A ’ S E N T I R E C A R E E R . H A V I N G E M E R G E D F R O M A PE R I O D O F I N T E R N A L CO N S O L I DAT I O N AG A I N ST A B AC K D R O P O F G LO B A L ECO N O M I C C H A L L E N G E S , T H I S L E A D I N G I M P O RTAT I O N A N D D I S T R I B U T I O N C O M PA N Y I S N O W R E A D Y T O G R E E T 2 0 2 3 H E A D - O N .

Roderick Abela has come a long way since his first days at Nectar nearly three decades ago, when he would help his father for a few hours a day while furthering his studies.

His real involvement began soon after in 1997, when his father – the late Charles Abela – bought out his partners’ share and the business became fully family-owned.

Roderick, his brother Mario and, subsequently, their sister Daniela joined their father full-time, together managing a relatively small team of 20.

He recalls the tragic loss of their father – then only 57 – in 2010. This came as a great shock to the family but, from then on, it was all-hands-on-deck as Roderick’s younger sibling, Carlos, joined the organisation too. Employing a workforce of 80 back then, the food and beverage distribution company had already grown significantly by that time and, a few years later, with more experience behind them, the siblings decided to divide executive responsibilities and define their official roles. Having worked so closely with their father for 13 years, Roderick naturally headed the company as CEO.

“Back then, I was mostly responsible for establishing systems and software solutions as solid foundations on which the business could grow,” Roderick shares. “As we scaled, I focused more on sales strategy while overseeing the company’s finances and IT, but have since been involved in most aspects of the business over the years.”

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our mother, who sits in the shadows and is not directly involved in the business, has been instrumental in the success of our story. She is a bastion of courage and hope, and remains the one we can bounce ideas and concerns off in the face of challenges and difficult decisions – whether business or otherwise.”

The company has consistently invested over the years, including in a central warehouse and logistics centre, which Roderick claims has been one of the team’s best business decisions to date. It is now undergoing its third major premises enlargement. “Nectar is a forwardthinking champion of change that is always innovating and never shies away from new adventures,” he shares proudly.

Indeed, honesty in business is very much a part of Nectar’s character and has allowed the company to retain good client relationships, in line with the genuinely client-centric approach that Roderick feels sets it apart. “We constantly strive to uphold a win-win approach in every deal. This, surprisingly, often runs counter to our clients’ and other business associates’ previous experiences, where they had fallen victim to raw deals before bringing their business to Nectar,” Roderick explains.

Apart from acquiring new businesses, building strong brands and developing excellent client relationships, Roderick also believes that growing a strong team and investing in people is just as crucial to a business’ success.

“I strongly stand behind our decision to retain our entire workforce of 195 employees – even when we had 40 people employed to service our HoReCa business model, which was shut down for a large part of these two years.

We kept full teams and supported everyone financially in the best way we could.”

For their part, the team at Nectar do things differently.

Roderick elaborates: “we thoroughly support our clients with a consistent service, fair margins and trade agreements, steady supplies and full after-sales support.

We never take for granted the hard-earned good relations we have with clients who trust us as one of their main suppliers and make room for our brands to be well represented.”

Looking back on the past two years, Roderick reflects on the challenges Nectar has faced. “We have always been quick to react and take timely decisions, but such agility has become essential in times of crisis. The good thing about such intense periods is that they push you to mature and learn at a much faster rate than you would in a normal year.”

It is little wonder that Nectar has amassed such a number of key milestones over the years, from takeovers of businesses like Sweetsource and Calleja Fisheries, and the sales and distribution of brands like Nestlé Ice Cream, Antica Gelateria Del Corso, Mayor and Three Hills, to setting up the Wrigley Impulse Division and launching the NectarActive Market Navigator sales ordering system.

Indeed, a smooth sea never made a skilled sailor and Roderick goes on to muse that, “until the going gets tough, any business can be a winner. But it is in times of turmoil that one is in for the real test. We are proud to say that, through our toughest times, Nectar was sound enough to ensure sufficient capacities across finances, storage and staff. This equipped us to mitigate unstable supplies and rising costs, and to make our strongest

With no history to draw on in the wake of unprecedented global events, we have had to rely on our gut and core principles while keeping our finger on the pulse, in order to make the best decisions.

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advances as we continued to service and remain close to our clients.”

Roderick notes that massive inflationary developments began long before the start of the Russian invasion of Ukraine, when Nectar was already receiving notices of rising prices from suppliers.

“Following the pandemic, producers were having a hard time sourcing raw materials, and those that had scaled down their workforce due to the lower economic activity had trouble scaling back to former levels,” Roderick remarks.

The situation would, of course, only get worse with the outbreak of the war in Ukraine, which hit the food industry the hardest because of its impact on two critical ingredients: oil and wheat, sparking a ripple effect throughout the supply chain. “Usually inflation brings increased demand while supply remains steady,” Roderick explains. “In this case, with serious supply interruptions, we had both factors working against each other, with restrained supply and increased demand taking place all at once – resulting in the biggest ever super inflation of our lifetime.”

Roderick adds that the energy crisis that hit Europe next had some European producers facing energy bill increases of 1,000 per cent. “The massive extent of this meant that some producers are today paying more in energy than they pay for the raw material itself,” Roderick remarks incredulously. In Malta, this has also meant heightened freight costs due to the island’s position on the periphery of Europe.

Roderick goes on to state that, as long as demand remains higher than supply, the issue will not be resolved, making the looming recession practically inevitable. Nevertheless, he remains cautiously optimistic about the year ahead and likens it to a process of natural selection. “I believe that some of the greatest opportunities emerge from a crisis. The challenges will come for everyone and lead to the survival of the fittest. Crises also tend to be a time of gaining renewed trust from partners who seek out established distributors they can rely on in uncertain times.”

Contemplating what lies in store for the industry in 2023, Roderick remarks, “the food and beverage market is a relatively sizeable market and grows by around €50 million per year on average. The fight for a bigger share of it is ongoing, especially with the entry of new international players from time to time. Nevertheless, despite their fiscal advantages as foreign investors, our role in the market remains highly relevant as a key distributor of food in the evergrowing Maltese food market.”

Ending on a positive note, Roderick concludes, “I strongly believe that Malta will be able to make it and come through the other end, and I look forward to the next phase in Nectar’s journey, which promises to be an exciting one.”

Quick-fire Questions… with Roderick Abela What is your favourite part of the working day?

Morning.

Who do you most admire in the global business sphere?

Robin Sharma.

When it comes to running your business, what is your best habit?

Applying consistency, and being audacious and persistent.

And your worst?

Overthinking.

What’s a hobby that’s been with you since childhood?

Aviculture and ornithology.

Would you time travel to the past or the future? When and why?

I am very forward-thinking, but egoistically speaking I do look back with nostalgia and wish I was around when low-hanging fruit was still available so that I could apply today’s business strategies.

What attributes do you value most in your team?

Diligence, persistence, consistency, determination.

Is there a talent you’d like to have but don’t?

Too many to mention here!

What has been the greatest milestone in your career so far?

Taking the business forward when we lost our father at a young age.

WhatsApp – a useful tool or the bane of your existence?

Useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

Listening to instrumental music.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Identify very early the best books on self-development and leadership, devour them and apply their wisdom consistently.

What is one skill you would like to develop in 2023?

To take life less seriously but maintain the same diligence.

History is repeating itself. True or false?

Life is a cycle and many aspects of history do repeat themselves but they also often evolve with each cycle.

The world’s biggest priority right now should be...?

Seeking peace and stability, and tackling urgent environmental priorities.

If you could only focus on one project in 2023, what would it be?

Developing two unique B2B apps for our business that have been in the pipeline for quite some time.

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Sandro Zammit

CEO, ZAMCO GROUP

“ W H A T E V E R Y O U ’ R E D O I N G , Y O U A LW AY S N E E D TO B E FO R M I N G R E L AT I O N S H I P S .”

F O R T H E L A S T 5 0 Y E A R S , A G I N V E S T M E N T S LT D , S E T U P B Y F O U N D E R S A M Y A N D G EO R G E Z A M M I T A N D I N CO R P O R AT I N G A L L T H E Z A M M I T S I B L I N G S FROM THE ONSET, HAS DELIVERED FOR THE GROUP. SANDRO ZAMMIT H A S N O W E M B A R K E D O N T A K I N G T H I S T R A D I T I O N A L F A M I LY B U S I N E S S TO NEW HEIGHTS , LEADING A YOUNG AND ENERGETIC TEAM OF HAND P I C K E D P I L L A R S B O T H F R O M W I T H I N A N D O U T S I D E T H E F A M I LY T O S E C U R E T H E N E X T D E C A D E S O F T H E B U S I N E S S , W H I L E S T AY I N G T R U E T O H I S CO M M I T M E N T TO C H A N G E A N D D EVE LO PM E N T – B OT H O F WH I C H H AVE S E R VE D H I M A N D T H E G R O U P S O WE L L TO DAT E .

Sandro Zammit never doubted that he would one day join the family business. As the youngest of four siblings, it was the “unspoken reality of life” that he would step into the company established by his father. By 14, he was already a constant presence; by 20 he was leading a 20man team at the company’s factory.

Today, as Head of the Zamco Group of Companies, his role is naturally greatly expanded. But those early steps into the company as a teenager are still something he draws on. “It’s all stayed with me to today,” he says.

“Working hands-on, being on the ground. If something goes wrong, the buck always stops with me. If there’s anything missing in any area of the business, I’ll step in wherever I need to.”

“Summer holidays didn’t exist because I was always in and around the factory or the shop,” he recalls. “I didn’t even attend my last three months of Sixth Form because we were setting up the new factory in San Ġwann. As a result, I failed my Accounts A level, which I remember my tutor was very angry about.”

Sandro’s journey from then to now has been, as he describes it, “a very long and very interesting one”, and one defined by constant change and growth. “My main problem is that I get bored quickly; as soon as I find 288

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“You need to be in touch with the people around you all the time, understanding them not only on a professional level but on a personal one too.”

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We almost never say no to anything. That’s very tiring, but it’s also very rewarding. Have there been projects which have not been successful? Of course, but that doesn’t mean you don’t try.

This side of the business continued to develop, until in 2013 a new and unexpected opportunity arose when the company received a request for the supply of commercial-grade barbecues, putting them in touch with American brand Bull. “It was a bit of a shot in the dark,” Sandro says. “Although they looked good, they were expensive, and we had no idea what the future held. We expected to sell one or two to the catering industry, but instead we found huge demand from domestic users.”

myself in a routine, I start going to sleep,” he says with a laugh. “So I’m always trying to develop new ideas, which keeps life interesting – and more complicated, of course.”

Eventually, Sandro met Bull’s owners in the USA, the parties hit it off, and Bull Europe was eventually born, growing into international distribution and expanding into a wider range of outdoor living and outdoor kitchens, which saw a further boost in demand during the pandemic. “Today it represents half our business, and Bull is now a household name in Malta, and is quickly spreading likewise in the EMEA region, which we are also responsible for,” he says.

It’s no surprise, then, that with Sandro’s vision, the Zamco Group of Companies has continued the family legacy with the steady creation of new avenues of business. The company started life in 1975 selling and then manufacturing disposables, before branching out into packaging services in the 90s, sensing the demand for a higher level of packaging and presentation from the many cottage industries in the food sector that were at the time expanding rapidly. Before long, the company had moved on to selling packaging machinery to other companies, a shift it has successfully replicated multiple times since.

“Pretty much everything we touched for our own use ended up being something we could offer to someone else. And we were always innovative and qualityconscious in terms of both production and presentation,” Sandro explains. “We almost never say no to anything.

That’s very tiring, but it’s also very rewarding. Have there been projects which have not been successful? Of course, but that doesn’t mean you don’t try.”

As Zamco continued to invest and see growth and development in its factory and Qormi showroom, the next major development came in 2005 when Zamco seized on an opportunity to enter the food service industry, providing technical services and equipment to the hotels and restaurants sector.

For Sandro, what unites Zamco’s different ventures and makes them stand out to clients is its team of professionals. “I’ve said for years that product has become irrelevant,” he says. “It’s important to have a good product, but ultimately it’s all about the service you can offer before, during, and after the sale. I regularly remind my team how important it is to form relationships with our clients. We have to get to know them and their business, and to give them what they are looking for.

“This reflects my ethos that it’s important to be in touch with the people around you all the time, understanding them not only on a professional level but on a personal one too. Wherever you are, whatever you’re doing, you always need to be forming relationships.”

These values served the company well through the disruptions of the last few years. After all, the food services sector did suffer during the pandemic and Sandro says the company used this time to focus on

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its own restructuring, and to ready itself to push on with new brands, new suppliers and new partnerships. Now he believes the sector is set to recover to previous levels and, perhaps, reach new heights.

“Many companies took the opportunity to refurbish and reinvest; that is paying dividends,” he says. “The country’s not stopping and the industry’s not stopping. I don’t see any hesitation in investment in the industry at large, both in the industrial and hospitality sectors.”

Quick-fire Questions… with Sandro Zammit What is your favourite part of the working day?

Chatting to the lads at the factory before they go home.

But Sandro is also aware that the future is likely to hold new challenges. One he highlights is the fact that disposables – once the cornerstone of the business, today accounting for a much smaller part, yet still synonymous with Zamco – are now a “dying market”, reflecting a decline driven by environmental considerations.

Who do you most admire in the global business sphere?

Elon Musk.

When it comes to running your business, what is your best habit?

Being in touch with the people around me.

“Rather than trying to delay and delay, the challenge is to think outside the box and opt for reusable rather than disposable. This is something we’re actively looking at and thinking about, because at the end of the day, the choice has to be the customers’. The providers, suppliers and importers will move with that choice.”

And your worst?

I’m too patient.

What’s a hobby that’s been with you since childhood?

I don’t stick with anything too long.

Would you time travel to the past or the future?

When and why?

2025, to see how all our plans worked out.

On a broader level, Sandro’s outlook for the years ahead is dominated by a three-year plan that will see Zamco investing heavily in the entire group infrastructure, physically restructuring factories and technical areas, shifting technical services, and overhauling the group’s digital systems and online presence.

What attributes do you value most in your team?

Loyalty.

Is there a talent you’d like to have but don’t?

Playing the drums.

There’s also a rebranding exercise afoot, consolidating the group’s multiple businesses into two arms: Zamco Industries, for the manufacturing arm, and Zamco Excellence, for sales and trading. “No matter how we named our companies, people always knew us as Zamco, so we thought, if you can’t beat them, join them,” Sandro laughs.

What has been the greatest milestone in your career so far?

Finding a happy solution that will take the family business on to the next generation.

WhatsApp – a useful tool or the bane of your existence?

Useful tool.

“We chose Excellence because it’s the experience we want everyone to have, both in-house and out. If someone is unhappy doing their job, they’re not going to do it well. And the target is always to keep the customer happy right from the start: giving them solid advice, selling them the right product and then continuing the service as best we can.”

Do you focus best in complete silence, with background noise, or while listening to music?

I’m used to working with the sounds of the factory around me, so nothing flusters me.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

Get organised, create a system, and if something goes wrong, find out why.

Beyond that is a restructuring plan to move the group from the family business structure that has got it this far, to a corporate governance structure Sandro believes is vital for it to thrive into the future. His three siblings, originally equal shareholders with Sandro and his father, have now eased back, but after some time at a crossroads and even talk of selling – a prospect Sandro admits made him emotional – an agreement for a handover was reached. Sandro is now sole shareholder, with the next generation assured in the shape of a young and eager team of professionals he likes to call ‘Pillars’.

What is one skill you would like to develop in 2023?

Reading people’s minds.

History is repeating itself. True or false?

For us, I’d like to think the past has been a recipe for success.

The world’s biggest priority right now should be…?

Peace.

“My role now is to prepare a structure that can work on its own, where shareholding and ownership has no bearing on company leadership,” he says. “That is what will take the company into the next 50 years. After that, well, it won’t be up to me.”

If you could only focus on one project in 2023, what would it be?

Digitalisation.

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CEO INSIGHT “The most important aspect of any business is its employees... so a CEO’s top priority is to ensure they are happy, well-paid and successful.”

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Simon Jesmond Turner

FOUNDER AND CEO, C L E N T E C LT D

“ YO U STA RT F R O M N OT H I N G , A N D T H E N YO U G R OW.”

C L E N T E C LT D H A S D E C A D E S O F E X P E R I E N C E I N T H E C L E A N I N G I N D U S T R Y .

A S O N E O F M A LT A ’ S L E A D I N G C L E A N I N G C O M PA N I E S , C L E N T E C P R I D E S ITSELF ON ITS WIDE RANGE OF RESIDENTIAL AND COMMERCIAL SERVICES, PROVIDED WITH EXCELLENCE , RELIABILITY AND COMPETITIVE PRICING .

WI T H FO U N D E R A N D C EO S I M O N J E S M O N D TU R N E R AT T H E H E L M , T H E C O M PA N Y H A S N A V I G A T E D T H E C H A L L E N G E S O F A G L O B A L PA N D E M I C T O A DA PT A N D G R OW, WH I L E K E E PI N G TO I TS M OT TO O F “ D O I N G I T R I G H T THE FIRST TIME, EVERY TIME”.

When asked for the key to success as a leading cleaning company in Malta, Clentec Ltd CEO Simon Jesmond Turner replies with one word: relationships.

In fact, building relationships with, and constantly learning from, employees, clients and family provides the soul for a typical day in his life – and is an ethos that has fuelled his entire career to date.

career and sector,” he shares. “I began by working in as many different industries as I could, to see how others do things, to form ideas and absorb their knowledge. I have always believed in a hands-on approach first, ideally alongside those with more experience, and then implementation later. This approach leads to fewer mistakes, plus you can move with the times both career-wise and industry-wise.

You start from nothing, and then you grow.”

“Early on, I knew I wanted to establish myself in this 295

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

The job at Clentec is always there for employees to return to. Some have been with us from the start, with children now the same age as the company. They have built their entire future with us.

Much like Simon’s own career, Clentec’s history also reflects this philosophy, having grown from the ground up and rising to the top of the industry over two decades. Although founded in late 2009, Simon officially launched the company in early 2001, initially providing cleaning and housekeeping services. Proudly celebrating its 20th anniversary in 2021, Clentec has gone from strength to strength, expanding its range of services while staying, at its heart, a family-run business.

Indeed, the CEO points to Clentec’s employees as the lifeblood of the organisation. He understands that, while they sustain the family business, Clentec in turn helps them to build and support their own families. “Working in our sector as a cleaner can bring both satisfaction because of a job well done, as well as the means to build a future,” he says. “In 20 years, our company has been through many phases, with employees leaving and returning. Our door is always open, whenever employees might wish to pursue other opportunities, such as studying or working in other sectors. The job at Clentec is always there for them to return to. Some have been with us from the start, with children now the same age as the company. They have built their entire future with us.”

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Simon insists that his role is that of team leader rather than boss. “The most important aspect of any business is its employees. After all, they’re the ones interacting with clients and providing our services, so a CEO’s top priority is to ensure they are happy, well-paid and successful. I regularly meet with every Clentec department, and I love spending time with our employees, listening to their ideas, seeing their work, helping them improve, encouraging them and watching them grow. That’s always my best day at work,” he smiles.

Choosing to work with Clentec as a professional cleaner also affords advantages over self-employment, Simon continues. “Employees enjoy a reliable wage, regular clients and a well-organised team that can cover sick and vacation leave as necessary. Clentec offers them reliability, security and professionalism, so they can enjoy the perks of the job without the stresses of self-employment.”

Attention to detail, pride in excellent service and dedication to customer satisfaction are core values at Clentec. Indeed, Simon explains, the company has embodied its motto of “doing it right the first time, every time,” throughout its 20 years. “We have built our reputation through credibility. Nothing less,” he affirms. “Our clients expect the greatest service on the island, which means quality, reliability, punctuality and the fact they can build a relationship with our employees, all at a competitive rate. Today, we still deliver a bespoke service that is second to none as one of the most experienced, locally established cleaning companies in Malta.”

MaltaCEOs 2023 THE ISLAND’S MOST INFLUENTIAL BUSINESS MINDS

As such, Clentec makes life significantly easier for clients when it comes to the logistics of cleaning services. The company handles all the burdens associated with hiring cleaning staff directly, such as national insurance, tax, vacation leave, sick leave and bonuses, while providing round-the-clock support and trained personnel to solve any issues as quickly and efficiently as possible. Both residential and commercial clients can select from a vast list of cleaning services, tailored to their individual requirements.

Meanwhile, the company’s in-house training academy ensures that team members not only uphold Clentec’s high service standards, but also that they are knowledgeable regarding the latest sanitary compliance requirements – especially critical, as Malta faced the COVID-19 pandemic.

“Clentec’s cleaning course offers extra peace of mind for clients and employees. We train new recruits for the first 40 hours, after which we match them with a more experienced employee as a mentor and, eventually, a team. Only when they have the credibility and confidence to work alone, do we send them on individual cleaning assignments,” Simon highlights.

“The academy was also essential to train employees on the latest sanitisation tools and methods, as required by COVID-19 guidelines. They learnt how to fight the virus, as well as how to keep themselves and their teams safe while doing so. Cleaning staff were frontliners, so it was a challenge, but one I am proud to say we overcame while helping the community. I count this as a great achievement.”

While the pandemic and its aftermath brought challenges, this difficult time also signalled more opportunities for growth at Clentec. “2022 was not an easy year, between the pandemic and the rising cost of living, but it taught us to adapt,” he shares. “It was the year in which we recognised the need to diversify our services, improve those we have and implement changes within the company. Diversification is key – not just in the business, but also in employees’ knowledge transfer from one department to another, so that they become more adaptable and able to take on other roles and opportunities in the sector.”

With Clentec’s diversification and expansion set to continue through 2023, Simon prepares to face the industry’s growing demand for employees by ensuring Clentec’s existing team is well-trained, motivated and comfortable in the company’s newly expanded premises.

And while he acknowledges the prospect of new technology on the cleaning sector’s horizon, Simon looks to the future with the same signature family values that have made Clentec Malta’s go-to cleaning services provider. “We’re seeing an increase in AI and automation in every industry worldwide, and I believe robotic cleaning will arrive in Malta between 2023 and 2030.

Nevertheless, the change from human to robot will not be instantaneous – and depending on how the technology evolves, humans will still need to operate the machine,” he predicts.

“But first, our drive at Clentec for 2023 remains focused on family, both in terms of succession planning to prepare my son Dean and daughter Naomi to one day take the reins, and for our wider Clentec family of employees. It is going to be a great year, which will bear good fruit for 2024, 2025 and another 20 years to come.”

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Quick-fire Questions… with Simon Jesmond Turner What is your favourite part of the working day?

Midday – halfway through!

Who do you most admire in the global business sphere?

Silvio Berlusconi.

When it comes to running your business, what is your best habit?

Talking.

And your worst?

When I say nothing – then they’re scared!

What’s a hobby that’s been with you since childhood?

Walking.

Would you time travel to the past or the future?

When and why?

To two years ago, to spend more time with my father before he passed.

What attributes do you value most in your team?

Teamwork.

Is there a talent you’d like to have but don’t?

Songwriting.

What has been the greatest milestone in your career so far?

Having my wife and children around me.

WhatsApp – a useful tool or the bane of your existence?

A useful tool.

Do you focus best in complete silence, with background noise, or while listening to music?

It doesn’t matter. If I have something in mind, I do it.

What’s the one piece of career advice you’d give your teenage self if you could go back in time?

To start earlier.

What is one skill you would like to develop in 2023?

Learning more languages, like Spanish or German.

History is repeating itself. True or false?

True.

The world’s biggest priority right now should be...?

Electricity and gas.

If you could only focus on one project in 2023, what would it be?

Sharing my knowledge with others.