Professor John Mamo will become the new non-executive chairperson of the Malta Financial Services Authority (MFSA).
Professor Mamo will succeed Professor Joseph Bannister, who will be retained as an advisor to the Malta government.
The announcement was made by Prime Minister Joseph Muscat during a lunch with the Malta Business Network.
Having served on the boards of several companies both in Malta and other countries, Professor Mamo was also appointed commissioner for Malta at an expo in Milan in 2016.
He was decorated by the Italian government in March 2016 for his work in enhancing Italo-Maltese commercial relations.