As Vassallo Group continues to evolve and expand its footprint across diverse industries, the role of the finance team has become increasingly dynamic, not just as guardians of the Group’s financial legacy, but as active enablers of innovation and sustainable growth. For Stephen Borg, Group Director of Finance and Company Secretary, this balance between financial discipline and forward-thinking vision has defined much of his 25-year journey with the Group.
“The finance team is evolving to support innovation across the Group,” he explains. “We understand that new ventures and technologies require sound financial planning to flourish. By integrating financial insights into the early stages of project development, we ensure all initiatives are underpinned by sustainable and sound financial practices.” The finance department works in close collaboration with the IT team to identify opportunities and manage risks, ensuring innovation is not only encouraged but also implemented responsibly.
“This proactive approach, together with our IT team, allows us to mitigate risks while fostering a culture of innovation,” Stephen says. For him, success is not just measured in numbers, but in the Group’s people and principles. “The strength of Vassallo Group lies in its people and shared values. Personally, I am guided by the principles of integrity, transparency, and teamwork. These values are foundational, as we manage the Group’s financial wellbeing, ensuring our strategies align
with our long-term vision.”
This philosophy is deeply rooted in the Group’s culture where trust and collaboration take centre stage. He believes that cultivating a sense of openness within the team encourages collective responsibility and long-term stability. “Fostering a culture of trust and open communication is essential for our collective success,” Stephen adds. Trust has been a guiding principle for Stephen since the first day of his 25-year career within the Group. For Stephen, his journey has taught him lessons, not just in finance but in leadership, responsibility and personal growth.
“Looking back on my journey, several experiences have profoundly shaped my outlook on leadership and responsibility,” he says. One early memory stands out vividly and has since become a guiding principle in his life. “I particularly recall how in my first days at the office, Group founder Nazzareno Vassallo told me that trust was either zero per cent or 100 per cent and that he had 100 per cent trust in me. I have since lived by that mantra and I have felt that trust reciprocated by all shareholders,” Stephen says.
That simple but powerful lesson continues to influence how Stephen leads his team and manages the Group’s financial strategy. As the financial landscape continues to evolve rapidly in an increasingly digital and interconnected world, Stephen sees both opportunities and challenges ahead. He expects “significant shifts” in how businesses operate over the next five to 10 years, highlighting the “rise of digital currencies and a growing demand for transparency” as key issues. But the Group is already gearing up to adapt and thrive in this changing scenario. “Vassallo Group is positioning itself to continue to be a leader in the various industries it operates in by investing in technology and embracing data-driven decision-making,” he adds.
Beyond innovation and technology, sustainability is another key pillar shaping Vassallo Group’s future. For Stephen, sustainability is not a passing trend but a business imperative. “Sustainability is at the heart of our financial and investment planning. We are committed to integrating sustainable practices across our diverse sectors to ensure long-term growth,” he says. This means not only evaluating the environmental and social impact of the Group’s investments but also striving for responsible resource management at every level.
As Vassallo Group approaches its 80th anniversary, the focus is to build on its legacy while embracing the future with confidence, purpose and “a disciplined approach”. Stephen believes the same guiding philosophies that have sustained the Group this far will continue to serve it well in the decades to come. “Our financial philosophies, centred around governance, innovation, and sustainability will continue to guide our success,” he says. “Maintaining a disciplined approach to financial management, while being open to new ideas and opportunities, will ensure Vassallo Group remains a leader in the various industries we operate in for decades to come.”
Describe the Group’s next decade in one word: New horizon.
As a guardian of the Group’s 80-year legacy, what do you hope to leave behind: My role is not just to focus on finance; it’s about ensuring the decades of success we have achieved as a Group translate into a sustainable future. This involves maintaining a balance between preserving our corporate heritage, maximising shareholders’ value and embracing innovation that drives growth.