Esterad Bank, a wholesale Islamic bank licensed by the Central Bank of Bahrain, today (April 8) announced the appointment of Fajer Al Pachachi as its new Chief Operating Officer (COO).

 

A seasoned executive with more than 16 years of experience across investment management, strategic planning, operations, and business development, Fajer joins the bank at a pivotal time in its transformation as it continues to strengthen its senior leadership team and operational platform, said Esterad Bank in a statement.

 

In her new role, she will oversee several critical business functions, including strategy, legal, operations, administration, fund administration, information technology, corporate communications, and investor relations. 

 

Fajer will also play a key role in driving execution across the Bank’s core activities, enhancing internal controls and efficiency, and supporting future growth across its investment and client engagement platforms, it stated.

 

Her appointment marks another significant step in Esterad Bank’s restructuring journey, building on the positive momentum of 2024, which saw the Bank return to profitability, execute new strategic investments, successfully exit legacy assets to return money to investors, and implement cost optimization initiatives, it added.

 

Prior to this, Fajer was General Manager of Hope Ventures, the investment arm of Hope Fund, where she led the firm’s corporate and investment strategy, and operations across multiple departments. 

 

Previously, she was a Senior Manager, Investment Development (Technology & Innovation) at the Bahrain Economic Development Board, where she attracted significant levels of foreign direct investment into the kingdom’s technology sector. 

 

She has also held positions at Instrata Capital, Maalem Holding, and Addax Bank, across marketing, strategic business development, and investment management. 

 

Welcoming the appointment, Acting CEO Ahmed Abdulrahman said: "Her extensive track record in building high-performing teams, driving operational excellence, and scaling investment platforms makes her a strong addition to our leadership team."

 

"Her appointment is also another important milestone in our transformation journey, reinforcing our commitment to strong governance, operational efficiency, and value creation for our investors and shareholders," he stated.

 

On her new role, Fajer said: "I’m excited to be joining Esterad Bank at this key moment in its journey. The Bank’s financial turnaround and renewed strategic focus provide a solid platform for continued progress."

 

"I look forward to enhancing our operating framework, supporting business growth, and ensuring we deliver strong outcomes for both our clients and investment partners," she added.

 

Al Pachachi holds a Bachelor of Business Commerce from Concordia University in Canada, and currently serves on multiple boards, including Chair of the Technology & Digital Economy Committee at the Bahrain Chamber of Commerce and Industry.-TradeArabia News Service