Bank of Valletta has become the first bank in Malta to set up a trustee services business unit. Trading under the brand name, BOV Truste...

Bank of Valletta has become the first bank in Malta to set up a trustee services business unit. Trading under the brand name, BOV Trustee Services, the unit is part of a strategy to widen and strengthen the Bank of Valletta’s wealth management offering and is a direct result of a strategic review. The unit will be headed up by Paul Gauci. Services offered range from the preparation of the trust deed and handling of all relevant documentation to arranging for the preparation of the trust's tax returns and dealing with the sale or transfer of assets and distribution to the beneficiaries. "We consider the area of wealth management and specifically the area of trusts as one of the higher value niche areas in which Malta and BOV can best compete," said Tonio Depasquale, chief executive officer of Bank of Valletta.