John Bonello appointed new HSBC Malta chairman

John Bonello has been appointed as the new chairman of HSBC Bank Malta plc, succeeding Sonny Portelli who announced his decision to step down after 12 years of service, during the bank’s Annual General Meeting in April.

Portelli will be retiring as chairman and director of the bank upon regulatory approval of the new chairman.

Bonello was appointed as Non-Executive Director of HSBC Malta in July 2013 and is presently chairman of the bank’s Audit Committee and member of the bank’s Risk Committee.

He is a chartered accountant and certified public accountant and was formerly the chairman and senior partner of PwC in Malta, retiring from this post in December 2009.

Andrew Beane, Executive Director and CEO of HSBC Malta, said: “I would like to pay tribute to our chairman Sonny Portelli after 12 years of service. Sonny has chaired our bank with distinction through a period of unprecedented change in the financial services industry. He leaves with our thanks and admiration, and we wish him and his family well for the future.

“I am delighted to congratulate John Bonello on his appointment, subject to regulatory approval, as the next chairman of HSBC Malta. John has been a Non-Executive Director of HSBC Malta for nearly six years and already knows our business very well. The high regard with which John is held locally and across the HSBC Group makes him ideally placed to lead HSBC Malta’s Board in the next phase of our strategy.”

Bonello said he was honoured that the majority shareholders have placed their trust in him.

“As we enter the next phase, our Board will continue to support our executive and management teams as they build a stronger and safer customer-focused bank in the interests of our depositors, our customers, our shareholders, our people, our brand and the jurisdiction as a whole,” he said.