Erich Schumacher to become FIMBank Group Chief Operations Officer

Erich Schumacher has been appointed FIMBank Group Chief Operations Officer (COO), the bank announced on Friday.

As a result, he has resigned from his present position as Non-Executive Director of the bank with effect from 24th April 2024. Mr Schumacher had served in the role since June 2022.

While the Board of Directors thanked him for his service as Director, his appointment as COO will become effective from 6th May 2024, subject to regulatory approval.

Additionally, FIMBank also announced the appointment of Samer Abbouchi as Non-Executive Director in place of Mr Schumacher. His appointment is also subject to regulatory approval.

Mr Abbouchi is Group Vice President – Investment of Kuwait Projects Company (Holding), KIPCO. He started his career at Ernst & Young (EY), Kuwait, before he then joined Ryada Capital Investment Company, Kuwait, as Manager – Investment Banking. Afterwards, he was appointed Senior Vice President – Investment Banking at Global Investment House.

Prior to joining KIPCO, Mr Abbouchi was Deputy General Manager – Corporate Finance/Investment Banking and Strategic Investments at Gulf Bank of Kuwait.

He holds a Bachelor of Arts in Business Administration from American University of Beirut, a Masters in Business Administration from London Business School, and is also a Chartered Financial Analyst.

With roots in 1994, FIMBank Group is a provider of trade finance, factoring and forfaiting solutions, with a global presence in various financial and trading centres.