RS2 has appointed UK-based banking professional Joseph Brennan as a Non-Executive Director with immediate effect, following the resignation of Natalie Strange. The appointment, announced on Tuesday, comes as the company awaits a decision from HSBC Group after submitting a formal bid to acquire HSBC Malta.
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Brennan brings more than 20 years of experience in financial services, including 17 years at Barclays, where he held senior leadership roles in global transaction banking, business management, and market development. He currently serves as Managing Director within Global Transaction Banking.

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“There are no matters to be disclosed regarding Joseph Brennan in terms of the Capital Markets Rules,” RS2 said in its statement.

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While the company has not provided further details on its offer, the timing of Brennan’s appointment has drawn attention, given his extensive background in banking and regulation. It could suggest RS2 is preparing for what would be a potentially significant shift beyond its traditional focus on payment technology and merchant services.

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MeetInc has reached out to RS2 for comment on the nature of its bid, its strategic rationale, and how such an acquisition might be financed and integrated — particularly in light of its current investment and international expansion efforts. No response was received by the time of publication.

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HSBC Malta is expected to announce a preferred bidder in the coming weeks, with RS2 understood to be one of three finalists, alongside two unnamed non-EU financial institutions. Several other interested parties, including APS Bank and Hungary’s OTP, have recently withdrawn from the process.

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If successful, the acquisition would represent a major pivot for RS2 and a significant moment in Malta’s financial sector — one that could reshape the competitive landscape and test the regulatory readiness of a fast-growing fintech entering the banking arena.

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