Jesmond Gatt is new MFSA chairman

Jesmond Gatt has been appointed as the next Chairman of the Malta Financial Services Authority (MFSA) following a meeting of the Public Appointments Committee last week.

Gatt, who served as Chairman of the Financial Intelligence Analysis Unit for the past three years, will now lead the MFSA. He previously held executive positions at the Central Bank of Malta and serves as the CEO of Malta Government Investments.

Gatt’s appointment was vetted by Parliament’s Public Appointments Committee last week,during which Gatt was questioned about whether he would publish the results of an internal investigation into alleged ethical breaches by Joseph Cuschieri, the former CEO of MFSA.

Cuschieri was found to have had a close relationship with Tumas Group magnate Yorgen Fenech, a licensee of the Malta Gaming Authority. Fenech has since been accused of being the mastermind of the Daphne Caruana Galizia assassination. 

Gatt stated that he would raise the matter at the board level, but would also seek legal advice on the potential consequences of publishing the findings.

He also denied any conflict of interest in serving as Chairman of the MFSA and CEO of Malta Government Investment, stressing that the two organizations were distinct and separate.

Gatt declined to comment on reports regarding his predecessor's compensation.