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Asset management 2020
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Joe Bannister is the chairman of the Malta Financial Services Authority, a post he has held since 1999 having been previously chairman of the Malta Development Corporation. Professor Bannister guided the process in financial services for the entry of Malta into the European Union. Under his guidance, Malta has developed a strong and robust regulatory regime. The finance centre currently contributes 10 per cent to Malta’s gross domestic product (GDP). Particular success has been achieved in the insurance sector where the introduction of protected cell companies (PCC) has attracted a number of insurance companies. Malta is the only member state that has a cell company regime that has also been developed for securitization vehicles, and in particular for reinsurance special purpose vehicles (RSPV).