PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE: Finance Minister Scicluna in talks with leaders of leading international financial institutions

The Minister for Finance, Prof Edward Scicluna yesterday held various meetings with a number of Chairmen and Presidents of leading international financial institutions on the margins of the Eurofi Financial Forum being held in Bratislava, Slovakia during which the future of the European Union, especially in the light of Brexit, was discussed.

Minister Scicluna met with HSBC Group Chairman Douglas Flint and a number of senior officials from the Bank. The topics raised during the discussion included the effect of Brexit on the City, the UK and the EU itself, the effect of financial regulations on the access of funds for SMEs, and other issues of concern for Malta in the ambit of international developments.

The Minister also met with the Chairman of Bank of New York Mellon Michael Cole-Fontayn and a number of senior officials and later with the Chairman of BNP Paribas Jean Lemierre, who is a former President of the European Bank for Reconstruction and Development and key negotiator in the reduction of the Greek national debt, and Head of Group Public and Regulatory Affairs Jean-Jacques Santini. The outlook of the banks and those of Malta on international developments were discussed during both meetings.

The Finance Minister also met with the Vice-Chairman of rating agency Moody’s Michel Madelain who was accompanied by Director Nigel Phipps. Among the topics covered included an account for the impressive economic and financial performance in Malta to date and the direction which will be taken during upcoming presidency with Brexit in the background.

In the evening Minister Scicluna addressed a round table discussion on the “Impacts of Brexit for the EU financial sector” during the Eurofi Financial Forum. The panel discussing the issue included Sylvie Goulard MEP, ALDE Coordinator, ECON Committee, Mr Cole-Fontayn, Vittorio Grilli, Chairman of the Corporate and Investment Bank EMEA, J.P. Morgan, Thomas Wieser, Chairman of the Eurogroup Working Group and the EFC, Council of the European Union and Andreas Dombret Member of the Executive Board, Deutsche Bundesbank.

Minister Scicluna reiterated Malta’s resolve to see that fair Brexit negotiations are held between UK and the EU during its presidency.

Source: Government of Malta