Francis J. Vassallo appointed Finance Minister of the Order of St John

Francis J. Vassallo, Founder and Partner of FJVA, has been named Receiver of the Common Treasure of the Sovereign Military Order of Malta, better known as the Order of St John, or the Knights of Malta.

The Sovereign Military Order of Malta (SMOM) made the announcement on Wednesday (yesterday), appointing Fra’ Francis J. Vassallo to the role, which acts as the Minister of Finance for the organisation, which holds a unique position as a sovereign state that issues its own passports and coinage.

The Sovereign Council’s appointment of Fra’ Francis, who has been a Professed Knight since 2000, was made effective on 23rd June at its most recent ordinary session.

Fra’ Francis previously served as President of the Board of Auditors, met with the Common Treasure staff on Wednesday morning to set expectations and explain his priorities for the Department.

Fabrizio Colonna, the former Receiver, tendered his resignation for “personal reasons” on 20th June 2025.

Born in Malta in 1948, Fra’ Francis graduated with a BA (Hons) in Economics from the Royal University of Malta in 1969. He was subsequently hired at Chase Manhattan Bank in Milan. After completing the Chase International Management Program, he moved to the headquarters in New York.

His international assignments included positions in the Dominican Republic, New York, London, Geneva, and Madrid, rising to senior executive roles. He was appointed General Manager of Chase Spain and Joint General Manager of Chase Switzerland.

He held key responsibilities in commodities, private banking and institutional governance, serving on the boards of Chase Luxembourg and Chase Channel Islands.

In 1993, he was appointed Governor of the Central Bank of Malta. After his term, he founded his own financial consultancy firm, Francis J. Vassallo & Associates.

Fra’ Francis joined the Sovereign Military Order of Malta in 2000 as a Knight of Magistral Grace and made the Promise of Obedience in 2008. He took his First Vows as a Professed Knight of Justice in 2015, just after his wife passed away, and his Solemn Vows in 2021.

He has held several prominent positions in the banking sector in Malta, including Non-Executive Director of FIMBank, Chairman of BAWAG Malta, and Chairman of Mediterranean Bank. In 2009, he was appointed Special Envoy Ambassadorial Status of Malta to Latin America to negotiate tax treaties on behalf of Malta with various countries in the region.

He was decorated as Officer of the Order of Isabella la Catolica by King Juan Carlos of Spain and awarded the Order of Merit by the Republic of Malta.