GlobalCapital plc – Appointment Executive Chairman and Resignation Chief Executive Officer

GlobalCapital p.l.c. (the “Company”) announces that Prof Paolo Catalfamo of Block 11 Fl 101 Portomaso Paceville has been appointed as Executive Chairman of the Company with effect from the 8 January 2017 (“Effective Date”).

Prof Catalfamo has served as Non-Executive Director and Chairman of the Company since September 2015. In the capacity of Executive Chairman, Prof Catalfamo is assuming the functions and powers of the Chief Executive Officer instead of Mr Reuben Zammit, who is stepping down as Director and Chief Executive Officer of the Company and of its operating subsidiaries, also as of the Effective Date. Mr Zammit remains available to the Company as may be necessary to ensure a smooth transition and a proper handover of functions and responsibilities.

 The Chairman and the Board of Directors wish to thank Mr Zammit for his invaluable service to the Company over the years and augur him every success for the future.

Subject to regulatory approval, Prof Catalfamo has also been appointed as designate Executive Chairman of the Company’s regulated operating subsidiaries, GlobalCapital Life Insurance Limited, GlobalCapital Health Insurance Agency Limited and GlobalCapital Financial Management Limited.

 He is the founder and chairman of the merchant-banking group Investar based in Italy, US and India and Professor at the Villanova School of Business in Philadelphia. Prof Catalfamo is a director of Investar Plc, the largest shareholder of the Company. He served as Deputy Chairman and CEO of the investment management group Franklin Templeton in Italy.

There are no disclosures to be made in terms of listing rules 5.20.5 to 5.20.9 in his regard.

To view the official announcement, click here.