Bank of Valletta Chairman Gordon Cordina made headlines this week, as a government minister attempted to unduly influence him regarding his testimony at the Public Accounts Committee. As pointed out in the article on this website, Gordon Cordina would only have been trusted to that extent by the Labour minister if it was known by the Minister that Gordon Cordina could be trusted by Labour to serve its interests.
Indeed, Gordon Cordina is so close to the Labour Party that he was nominated and prepped for his anointed role as Minister for Finances in 2019 by Joseph Muscat. Joseph Muscat needed a replacement for Edward Scicluna, who had been earmarked for the Central Bank. The choice for Joseph Muscat’s administration at that time was Gordon Cordina, who had also accepted Joseph Muscat’s proposal and was preparing for his new role.
Eventually, the political crisis hit Malta in late 2019 and Gordon Cordina decided not to be associated with the Labour Party in a formal and political manner, however, he still kept his options open to them and they then appointed him as Chairman of Bank of Valletta.
The general public and regulatory authorities should make no illusions about who really controls Bank of Valletta and Gordon Cordina won’t act in any way that would hurt the Labour Party’s interests, or jeapordise his ambition to eventually become the Minister for Finances under a Labour government.
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