Hon Prime Minister, Ministers, Leader of Opposition, Members of Parliament, Guests,
Thank you all for joining us to celebrate the 25th Anniversary of our company’s establishment. In 1989 the Maltese financial services sector was still in its embryonic stage. The earlier enactment of the Malta International Business Activities Act set the scene for Malta to develop into a reputable financial services centre and provided a challenging opportunity for the provision of services to an increasing number of non resident owned companies which were choosing to establish themselves in Malta.
I took up that challenge and, assisted by a lone employee, established Finco Trust in 1989 and embarked on the mission of providing fiduciary and ancillary services to international clients. With the immeasurable contribution of Arthur Galea Salomone and Angelo Buhagiar, Finco Trust developed, in the early nineties, into a pioneer and leading multi disciplinary professional services organization, which provided one stop fiduciary services, business consulting, investment management, accounting and tax services to its clients. Our organization has come a long way since inception and today comprises seven partners and a staff complement of 30, servicing a portfolio of approximately 1500 clients, both corporate and private, resident and non-resident.
Credit for Finco Trust’s success is shared amongst many, particularly the professional and dedicated partners and employees, many of whom have attained the 15 and 20-year milestones with us. Indeed a low staff turnover, buoyant staff morale and motivation as well as exacting professional standards have contributed in no small measure to give life to our motto and philosophy: Integrity, Experience and Trust. Integrity because in all we do we place extreme importance of always acting in the best interests of our clients and to the highest ethical standards, and without divided loyalties, and this in a substantive manner rather than merely conforming to formal legal requirements. Experience because we aim to perform to the highest and most exacting standards. And inevitably, as a result of Integrity and Experience, we earn the Trust of our clients that is the foundation of a rewarding professional relationship with our clients.
We are proud of the continued growth along these years in our turnover, but more than any economic result achieved, we treasure mostly the fact that throughout this 25 year period we have not had one single case of a regulatory complaint against us.
Whilst we look back at the past twenty five years with satisfaction, we do not intend to rest on our laurels. We are fully aware that the confidence of clients must be earned every day. God willing, we look forward to continue to achieve further successes in the future.
Hon Prime Minister I thank you for your patronage this evening - and this notwithstanding your official commitments connected to Republic Day - and may I invite you all to toast to our 25th Anniversary.