IIG Bank (Malta) has appointed Renald Theuma as deputy CEO and Vincent Farrugia as COO.

Theuma will be responsible for global business development and will oversee the operations unit for commodity trade finance transactions. He has 34 years of experience in structuring trade finance deals, corporate business, operations and trade services.

Farrugia’s 25-year banking career has included roles in commercial, risk management, compliance, trade services and commodities. He will work closely with Theuma to structure trade deals, focussing largely on supply chain finance of hard and soft commodities, construction materials and energy products.

Commenting on the hires, IIG Bank (Malta) CEO Raymond Busuttil says: “With these senior executive appointments, the bank is activating the second phase of its business plan. Renald’s and Vincent’s commercial and technical banking experience in the specialist field our core business growth and builds the bank’s profile in international trade and commodity finance.”

The bank focuses on structured finance for international commodity trade. It handles pre-export financing, including warehouse financing and asset-based lending.