Bank of valletta
Lack of choice of custodian slows Malta’s progress as a European fund...
With only a couple internationally recognised custodians operating in Malta, the regulator is keen to attract more competition before European Union legislation hits the statue books.
Despite an unsettling sovereign debt crisis in the eurozone, Malta’s financial services sector and in particular hedge fund development continues to grow at an accelerated pace.
Malta still suffers from a lack of international, big name custodians. Of these only HSBC has a presence in the jurisdiction. That is set to change in 2011 as more banks eye Malta’s potential.
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