Malta-based Mediterranean Bank has bought a 65 per cent shareholding in Charts Investment Management Service in a move to strengthen its wealth management capabilities.

Since its acquisition by London-based private equity business Anacap last year, Mediterranean Bank has built up its presence in the savings and wealth management market, having appointed a new head of consumer banking and a new chief investment officer since December 2009.

Charts Investment Management Service is a stockbroking, wealth management and corporate advisory firm founded in 1985, based in Malta's capital, Valletta.