New chief financial officer at GlobalCapital plc

GlobalCapital plc have added to their insurance and investment operations across the Maltese Islands with the appointment of Chartered Accountant Reuben Zammit to Chief Financial Officer (CFO).

In his new role, Mr Zammit will focus in conjunction with CEO Bashar Khatib on strategic planning, performance management and risk while leading the group's overall finance and control functions. Mr. Zammit also heads the team managing the implementation of Solvency II, a fundamental review of the capital adequacy regime for the European insurance industry.
Zammit's career spans more than 15 years in progressively senior positions and he brings the expertise and track-record of a seasoned professional, along with hands-on business experience in operations. This strong combination brings added value to GlobalCapital's senior management structure.

With Zammit's appointment to CFO, GlobalCapital continues to build on a significant foundation as a strong financial services company with its core focus on insurance protection and investments. The group provides products and services designed to ensure financial security for individuals, families and business covering the areas of life insurance, health insurance, investments and insurance broking business.

GlobalCapital plc has embarked on a co-ordinated effort to adapt smoothly to the new market created by the international credit crisis conditions and benefit from these new challenges. Acting proactively, GlobalCapital has undergone a restructuring and streamlining of processes under CEO Bashar Khatib which aims to overcome inherited difficulties by becoming more efficient and productive while offering higher levels of customer service to its clients. Mr. Zammit's appointment is a further step to build sustainability and meet new standards in risk assessment.

CEO Khatib said: "We base our success on our skilled team, our customer-focused approach and good reputation as a long-standing, reliable insurer and investments services provider. We will continue to build on these strengths while focusing on financial security for which we have a sustainable competitive advantage and settling claims immediately thus maintaining a low outstanding claims ratio and an excellent reputation as a dependable protection provider.

"GlobalCapital plc commands a profound knowledge of the local financial services market, and Reuben's appointment adds another layer to this resource. With Reuben's experience of our challenges gained in the last few years occupying various important finance positions within the group, and as a Chartered Accountant, he adds valuable knowledge to the mix which will stand us in good stead going forward."