New governor for Central Bank of Malta

Alexander Demarco has been appointed governor of the Central Bank of Malta by the President of the Republic, acting on the advice of Cabinet.

Demarco’s five-year term starts on 1 January 2026, taking over from Edward Scicluna. Earlier in December, parliament’s Public Appointments Committee unanimously approved Demarco’s nomination.

Demarco has served as deputy governor of the Central Bank of Malta since 1 January 2014, initially responsible for financial stability, where he was also a member of the European Central Bank’s (ECB) Supervisory Board of the Single Supervisory Mechanism.

Since August 2017 he was assigned the role of deputy governor responsible for monetary policy. In this role, he accompanied and acted as alternate to the governor at the Monetary Policy Governing Council meetings of the ECB.

Between 1 August 2024 and 31 July 2025, Demarco served as acting governor of the CBM after Scicluna suspended himself following criminal charges filed against him in relation to the Vitals hospitals scandal.

Demarco joined the Central Bank of Malta in 1984 and spent most of his career in the Economic Research Department, where he worked as a senior economist before being appointed head of the EU and International Relations Department.

He was actively involved in Malta’s preparations and negotiations for EU membership, as well as in exchange rate policy considerations related to Malta’s participation in ERM II prior to joining the Eurosystem.