MZ Investments

MZ Investments is a Maltese investment services firm that has deliberately stayed small. From its head office at MZ House on St Rita Street in Rabat, it advises private clients, manages portfolios on their behalf, executes share trades and helps companies raise money on the Malta Stock Exchange. Rabat sits beside the old capital of Mdina, so a visit to the firm can easily be combined with a day among the island's oldest streets.

The firm was established in 1999 and celebrated its 25th anniversary in 2024. This page, written for UK readers, explains what the firm does, how it is regulated and where its offices are, and it sits in our directory of financial advisors in Malta.

Founding, regulation and approach

The company, M.Z. Investment Services Limited, is a private limited company regulated by the Malta Financial Services Authority and licensed to carry on investment services under the Investment Services Act. It is a member of the Malta Stock Exchange and is enrolled under the Insurance Distribution Act as a tied insurance intermediary for MAPFRE MSV Life p.l.c.

Martin Zahra founded it after 18 years in banking. He began at Bank of Valletta in 1981, gained experience in retail banking, bancassurance and collective investment schemes, and studied for UK securities qualifications. He applied for an investment services licence in 1998 and it was granted in January 1999. The philosophy he describes is to know each client well, to treat the client as a person and to diversify portfolios across sectors and regions with the client's needs and risk profile in mind.

The business aims to stay boutique so that the human element in its service is not lost. For UK readers with an interest in Malta's financial sector, our overview of financial services in Malta shows where a firm like this fits.

Investment advice and stockbroking

The advisory service gives recommendations after a review of your financial situation, risk tolerance and objectives. Objectives are grouped under three headings: income, capital growth and a balanced approach. The firm stresses regular contact and responsiveness, and advisers monitor client portfolios as markets and circumstances change.

Stockbroking is available in two forms. Self-directed investors can use an execution-only service, in which they decide and the firm simply carries out the trade. Those who want guidance can choose advisory execution. Both give access to local and international markets, which lets clients spread their money across different regions. A nominee service is also available. The firm's news pages follow new bond issues from Maltese companies and Malta government stock issues.

Insurance products are offered through the MAPFRE MSV Life connection and include pensions, regular savings plans and lump-sum investments. If you are weighing up a pension or savings plan as part of a move, our guide to Malta tax for UK nationals and UK guide to relocating to Malta give the wider background.

The firm's interviews and news items stress a personal touch and trust, and the stated aim is to remain boutique so that a strong human element is kept in the service. For a visiting or relocating client, that usually means speaking to the same small group of people each time rather than a call centre.

Discretionary portfolio management

Discretionary management suits clients who cannot or do not want to run their investments themselves. A dedicated manager makes every buy and sell decision within criteria agreed at the outset and keeps you informed. The process begins by working out your objectives, return expectations and risk tolerance, which define a risk profile, and a tailored portfolio is then selected.

Decisions draw on the firm's own research and on local and international market insight, including Reuters services and reports from global research houses. The firm offers model strategies and tailor-made solutions, and it also serves institutional investors. Josie Zahra leads the research and discretionary unit, and Jesmar Halliday is the portfolio manager who joined in 2022.

Advisers monitor client portfolios, assess the macroeconomic environment and consider how events in the wider markets could affect a portfolio, keeping clients regularly informed. As with any investment, values can fall as well as rise, and you should read the firm's disclosures before you commit.

Corporate broking

Corporate broking is a major part of the business. MZ Investments acts for a significant share of the companies on the Regulated Main Market of the Malta Stock Exchange, and the client portfolio lists some two dozen issuers, among them International Hotel Investments p.l.c., PLAN Group p.l.c., Lidion Bank p.l.c. and Izola Bank p.l.c., each with an investor relations page.

Services for companies include capital raising through initial public offerings, rights issues and placements, with advice on structure, timing and pricing, treasury management to optimise liquidity, research ahead of major corporate actions, corporate governance and compliance support, transaction advisory covering deal terms, due diligence and valuation, and investor relations. Evan Mohnani, who heads corporate broking, helps companies raise equity and debt on the exchange. Our explainer on Malta's corporate tax structure is useful reading for business owners considering a listing.

The team

Beyond Martin Zahra as founder, director and chief executive, the directors include Josie Zahra, Laura Zahra, who heads trading, treasury and the client lifecycle unit, Daniel Fenech as chief technology officer and Malcolm Bondin as chief finance and governance officer. Pauline Millo heads operations, Marisa Frendo is the compliance officer and money laundering reporting officer, and the advisory team includes Christopher Saliba and Christian Spiteri.

Several profiles show how experience is spread across the firm. Laura Zahra joined in 2006 in operations and back office, was authorised by the MFSA in 2016 to conduct tied insurance activity in life, annuity and unit-linked business, and was approved by the Malta Stock Exchange as a trader in the same year. Daniel Fenech has been with the company since 2001, with senior roles in operations, compliance, anti-money laundering and investment advisory before becoming chief technology officer. Marisa Frendo brings 35 years of retail and commercial banking, including managerial posts at Bank of Valletta and several years in its anti-financial crime department. Christopher Saliba has 26 years in investment services and holds UK securities qualifications, while Evan Mohnani is a certified public accountant who previously worked at KPMG Malta and joined the firm in 2019.

Operations, accounts, trading and administration colleagues round out a team in which many staff come from local banks and the Malta Stock Exchange.

Offices in Rabat, Siġġiewi and Gozo

The head office is at MZ House, 63 St Rita Street, in Rabat. A branch at 2 Nikola Saura Street in Siġġiewi opened in September 2024, and a tied agent, Mercieca Financial Investment Services Limited, serves clients in Rabat on Gozo. Visitors staying near the head office can read our Mdina guide, which also covers Rabat, and our guide to hotels in Mdina and Rabat. If your plans include the sister island, see our Gozo guide.

Company and relocation clients who also need a corporate adviser can look at CLA Malta, our featured partner, and our introduction to Malta gives general context.

Getting in touch

The website does not publish opening hours or fees. Tell us whether you want advice, a stockbroking account, a discretionary mandate or corporate broking, and where you live. Use the VisitMalta.co.uk enquiry form on this page and we will pass your message to MZ Investments, who will reply to you directly.