About us

Capital Advisory is a corporate consultancy firm with a specialisation in financial management and process optimisation, corporate finance and good governance.

In today’s fast moving commercial environment, we understand that management faces a challenge in finding the time and focus to step back to review, analyse, question and challenge the way the business is run.

With over thirty years’ experience in commercial operations and corporate finance, we support the top management team in reviewing the organisation's finance operations, processes and management, highlighting areas where there are opportunities for improvement. We then work with management to address these areas to deliver measurable increases in efficiency, reduced risk, and improvements in profitability and cashflow.

We go a step further by assisting the business in improving business and financial reporting so that management gains real time visibility of the operation, enabling faster, improved, scientific decision making. We further assist in setting up robust corporate governance, ensuring that the company's assets and operations are safeguarded through effective reporting, sound internal controls and best practice in financial management, that effectively embeds continuous improvement and good governance into the organisation’s operation.


Etienne Borg Cardona

Etienne Borg Cardona is the founding partner at Capital Advisory.

He is a certified public accountant and auditor by profession and holds a practicing warrant. Having initially gained experience in banking and in accountancy and audit practice, this was followed by a thirty-year career in leadership positions in the private sector. In this role he was active on corporate boards as well as on board committees responsible for acquisitions and mergers, financial and investment portfolio management.

At Capital Advisory, he advises on corporate finance, financial management and corporate governance, and currently sits as an independent non-executive director on boards of listed, regulated and private local and international companies in a number of industry sectors.

A Fellow of the Chartered Association of Certified Accountants and the Malta Institute of Accountants, where he is an elected member of council, he is also a member of the Malta Chamber of Commerce Family Business Committee.

He holds a Masters’ degree in Financial Services from the University of Malta and is currently reading a PhD in Leadership and Management at Cranfield Business School, Cranfield University UK. He lectures at the University of Malta in the departments of accountancy and public policy within the Faculty of Economics, Management and Accountancy. He has also lectured on the history of finance, commerce and money in modern economies at the University of Malta’s Centre for Liberal Arts and Sciences, and as a visiting lecturer at Cranfield Business School.