About us

Welcome to Gamma Capital Markets, a leading Alternative Investment Fund Manager (AIFM) based in Malta.

With over EUR 1 billion in assets under management, we specialize in providing innovative investment solutions tailored to the needs of our global client base. With our strong expertise in the financial industry, we are dedicated to delivering exceptional investment solutions to our valued clients. Our team of experienced professionals combines in-depth market knowledge with innovative strategies to generate superior returns. At Gamma Capital Markets, we are committed to delivering exceptional value and fostering long-term partnerships built on trust and transparency. Join us on a journey of growth and success in the dynamic world of alternative investments.

Our Pathway to Excellence


At Gamma Capital Markets, our mission is to deliver superior investment performance and exceptional client service. We achieve this through our core values of integrity, transparency, and professionalism. Our keys to success include rigorous risk management, innovative strategies, and a client-centric approach. Trust us to help you achieve your financial goals.

Our Values

Integrity, transparency, and trust are the core values that guide our business. We are committed to maintaining the highest ethical standards in all aspects of our operations. Client satisfaction is our top priority, and we aim to build enduring relationships based on open communication, professionalism, and integrity.

Keys to Success

Our success is driven by our relentless focus on delivering exceptional investment solutions. We combine deep market knowledge, rigorous risk management, and a forward-thinking approach to stay ahead of market trends. Our experienced team, innovative mind-set, and robust infrastructure enable us to adapt to evolving market conditions and seize opportunities. Through a client-centric approach and a commitment to excellence, we strive to consistently exceed expectations and achieve sustainable growth.

What makes us different?


With a wealth of experience in the industry, we have successfully managed and grown our clients’ assets, delivering consistent returns.


Our team of seasoned professionals possesses extensive knowledge and expertise in alternative investments, ensuring informed decision-making and strategic portfolio management.

Client-Centric Approach

Your success is our priority. We foster strong relationships, providing exceptional service and support throughout your investment journey.


We prioritize transparency in all our interactions, providing clear and comprehensive reporting to keep you informed about your investments.


Our track record speaks for itself. With over EUR 1 billion in managed assets, we strive to achieve consistent, competitive returns for our clients.

Meet our Team

Mr Eros Lombardo has extensive experience in the financial sector mainly in the field of accounting and fiscal matters thanks both to his educational background and his work experience. Eros has been a Director of OF Trader Group (of whom Gamma Capital Markets forms part of) for the past 15 years where he has acquired a good knowledge of the financial markets. Working in strict conjunction with the Chairman of the company he has been able to develop good expertise in investment management including derivatives, securities and forex. Apart from the Investment Committee and Portfolio Manager role held by Mr. Lombardo in Gamma Capital Markets, he has also recently been appointed the CEO of the Group OF Trader.

Eros Lombardo


After graduating from the University of Malta, Jessica obtained an MSc Investment & Finance from the University of Strathclyde (UK). During her studies, she acquired extensive knowledge in Investments, Financial Derivatives, and Portfolio Management. Jessica started her career as a Fund Accountant with Custom House Global Fund Services Ltd. Currently, Jessica works as a Portfolio Manager with Gamma Capital Markets. In 2015, she was appointed as an Investment Committee Member on E2A Sicav, Italo Sicav and Prime Metal Opportunity Sicav. Additionally, as from 2013, she has also joined the University of Malta as a visiting lecturer, where she delivers ‘Derivatives Markets’ and Treasury Management’ lectures.

Jessica Curmi

Director & CEO

Mr Michael Galea is the Chief Operating Officer of Calamatta Cuschieri and oversees the daily operations with a particular focus on the areas of investment advisory, operations, compliance and human resources as well as fund management and fund services. He currently sits on several committees & boards covering the areas of investment funds, portfolio management & risk management. Prior to joining Calamatta Cuschieri, where he also set up and ran the Treasury Department for several years, Mr Galea was Head of Markets & Investments of a local wealth management Bank. Mr Galea holds a B.Com (Hons) Banking & Finance degree as well as a Masters in Business Administration, both from the University of Malta.

Michael Galea


Mr. Paul Rostkowski has extensive experience in the financial services industry, particularly in asset management and fund administration. With over a decade of experience in the financial industry, he has held various key roles, including Chief Operating Officer and now Chief Strategy Officer, in leading asset management firms. Throughout his career, he has been instrumental in developing and executing strategic initiatives to drive growth and optimize operational efficiency.

Paul holds an MBA from the University of Derby, UK.

Paul Rostkowski

Chief Strategic Officer

Dr. Raffaele Castaldo is a Doctor of Laws from Italy and a LL.M. in “International Business Laws” from the University College of London. Raffaele has been working in the Corporate, Commercial and Financial Services Industries in Malta since 2018 focussing mainly in MiFID II and Funds.
Raffaele has worked in Legal and Compliance within the Financial Services liaising with top-tier legal, corporate, commercial and financial services firms in Malta.
Raffaele is knowledgeable in both the local and EU legislation in relation to corporate, regulatory financial services, compliance and anti-money laundering. Raffaele speaks fluently Spanish and English along with Italian.

Raffaele Castaldo

Compliance Officer

With almost 20 years of experience in Asset Management (with quantitative and qualitative discretional approach) Carlo is an expert of fundamental (strategical approach) and technical analysis (tactical approach). Mr Carlo De Luca has acquired an extensive experience on the financial markets also covering the role of co-Head of Asset Management for Family Office and Asset Management Companies in Italy, Switzerland, U.K., Malta (before Gamma: Per4m SA, JCI Ltd., Codel Data Srl etc.). He is Portfolio Manager MFSA approved and he was authorized CF30 Portfolio Manager by FCA UK in 2015; and in Italy he is a financial advisor authorized by CONSOB OCF. He managed Funds or HNWI with Absolute Return and Low Volatility approach. Developed equity strategies on specific themes related to demographic and sector Megatrend (Biotech, Technologies, now Robotics).

Carlo De Luca

Portfolio Manager

After graduating in Economics and Banking & Finance (B.Com) Malta, Luke further obtained a Master’s of Science (M.Sc.) in Economics from the University of Malta. During his studies, he obtained a broad knowledge in Financial Markets, Econometrics and Data Analysis. After a minor experience working in economics, Luke joined Gamma Capital Markets in the start of 2023 as a Trader and Fund Analyst. Over time, he worked with multiple departments within the Company, which ultimately led to his role within the Portfolio Management Team as Junior Portfolio Manager.

Luke Azzopardi

Portfolio Manager

Nicole was employed straight out of Sixth Form College by one of the oldest and largest independent futures brokerage firms in the US; RJ O’Brien, where she spent 5 years working as a Trader Support Analyst to their UK based clients. She later moved to Marex Spectron in 2016 to help lead the Global Trading Support Team where she provided 1st & 2nd line support to front office teams, real time trading and access to market data platforms for their internal and external clients. Nicole joined Gamma Capital Markets in June 2021 as Operations Manager after relocating to Malta from the UK. She is an experienced Trader Support Analyst holding a sound understanding of Derivatives Trading for Commodities on Global Exchanges, the execution processes involved, risk and market compliance across multiple trading platforms and MiFID II regulatory requirements within the financial sector.

Nicole Harvey

Operations Manager

Maria graduated from the University of Malta in 2011, where she obtained a degree with honours in Banking and Finance. She started her career as a Fund Accountant with TMF Fund Services limited who along the years were acquired by Custom House Global Fund Services Ltd. and the latter acquired by Apex Fund Services. Maria spent ten years working for the company where she gained extensive knowledge in Fund Accounting as well as was exposed to different fund structures and setups. In May 2022, Maria joined Gamma Capital Markets as a Fund Account Manager.

Maria Xuereb

Fund Manager

With experience in the asset management industry, Alessandra brings extensive back-office experience to Gamma Capital Markets. Prior to joining our team, Alessandra held a similar position at another asset management firm in Malta, where she played a role in providing comprehensive back-office support, risk management assistance, and data entry expertise. Her proficiency in utilizing SAGE and Bloomberg platforms further enhanced her ability to manage and analyse financial data efficiently. Additionally, Alessandra possesses valuable front-office experience, enabling her to navigate the intricacies of client interactions and maintain a seamless workflow between different departments.

Alessandra Teseri

Back-Office Analyst

Doreen joined Gamma Capital Markets in December 2019 after being involved in the Risk Management and Financial Services industry in Malta for the past 19 years. Doreen has until recently led an Investment Research Team at a local large financial institution, whilst at the same time enhancing the risk and compliance aspects of the portfolios under management, mainly through the implementation of regulatory changes affecting the investment business. Doreen also has extensive experience on Product Governance, Risk Management and Compliance related to investment products. Doreen has a BSc (Hons) Degree in Mathematics and Physics from the University of Malta and is a Certified Financial Risk Manager FRM® (Global Association of Risk Professionals).

Doreen Micallef

Chief Risk Officer (CRO)

Denis O’Donoghue, BSc (Hons) Physiology (UCC), MBA Finance (Dublin Business School), is a highly experienced professional with over a decade of experience in the funds industry. Denis has previously accumulated experience with top tier investment banks and with a London based hedge fund. Denis successfully managed multiple operational aspects, ensuring the efficient execution of investment strategies and optimizing fund performance.
Denis is acknowledged by the Malta Financial Services Association, and he is a registered Director with the Malta Business Registry. He serves as a Risk Manager for Gamma Capital Markets, leveraging his extensive background to identify and manage risks within his organization. Additionally, Denis holds a professional qualification in compliance, further enhancing his expertise in regulatory matters.

Denis O’Donoghue

Risk Officer

Claudia brings a wealth of experience in finance and investment management to Gamma Capital. Leveraging her Master’s in Corporate Finance from the University of Catania, she specializes in portfolio optimization and financial analysis. Claudia’s career has spanned both Italy and Malta, where she excelled in business consulting, academia, and most recently, as a Valuation Risk Analyst at ACA Mirabella Ltd. In her current role as a Portfolio Manager, Claudia focuses on optimizing and managing investment portfolios for our clients.

Claudia Giardina

Risk Officer