Francis J. Vassallo graduated B.A. (Hons.) Econ. from the Royal University of Malta in 1970. He occupied several senior positions with Chase Manhattan Bank worldwide in his 25 year career with Chase. He was a Board Member of several Chase subsidiaries in Luxembourg, the Channel Islands and Spain. He was General Manager of Chase Manhattan Bank in Spain between 1987 and 1991 responsible for the setting-up of Private Banking as well as the Capital Markets in Spain for Chase. He was also General Manager of Chase Private Bank Switzerland until September 1993. In September 1993 he was appointed Governor of the Central Bank of Malta -- a position that he held until September 1997. During that period Mr. Vassallo played an extremely important role in the restructuring of Malta's banking and financial system and also contributed in establishing Malta as a world-class Financial Centre. During these years, Mr Vassallo spearheaded various legislative changes in preparation for Malta's entry into the EU, including the new Banking Act and the amended Central Bank Act as well as assisting on the preparation of the legislation on the Investment Services Act and Capital Markets and the enactment of Anti-Money Laundering Legislation in Malta. During his tenure as Governor, Mr Vassallo was a founding member of the Malta Financial Services Authority (MFSA). Mr Vassallo is a member of the Board of FIMBANK plc and is a Director on various other companies including United Group, United Finance plc, Celsius SICAV (Barclays Bank), ALTMA and NBCG (National Bank of Canada) and White Rock Insurance (Europe) PCC Limited. He is a member of the ITPA, IFSP, IFA and is a Knight of the Sovereign Military Order of the Knights of St. John. Mr Vassallo was Chairman of the Malta Development Corporation until October 2000 and was Chairman of BAWAG Malta Bank Limited until July 2009. In March 2009 Mr Vassallo was appointed by the Malta Government as Special Envoy to initiate and negotiate, on behalf of the Malta Government, agreements on the Avoidance of Double Taxation and the Protection of Investments in the Latin American Region. In September 2009 Mr Vassallo was appointed as Chairman of the recently formed Mediterranean Bank. Mr Vassallo is also the founding President of the Malta-Spanish Chamber of Commerce.