Local Business

First Energy Bank Appoints CEO

Staff Report
Filed on April 25, 2009

DUBAI - Bahrain-based First Energy Bank (FEB), the world’s first Islamic investment bank focused exclusively on the energy sector, recently announced the appointment of Vahan Zanoyan as the Chief Executive Officer of the bank during its first year of operation. Prior to joining FEB he was the Chairman and CEO of PFC Energy International for four years, and President and CEO of PFC Energy for the preceding ten years.

Esam Y. Janahi, Chairman of the bank said: “Vahan Zanoyan’s appointment as the Chief Executive Officer of the bank is an important addition to the management team as the bank is in the first year of operation. His widespread knowledge coupled with more than two decades of experience in the energy sector will enable the bank to realise its long term and short term objectives.” “As a specialist in the energy industry we are confident that his leadership will enable FEB to build a strong and dedicated team, to give the bank the advantage of a wide range of expertise in originating and screening exclusive investment opportunities and represent the bank as one of the major players in the regional and the global energy sector,” he added.

Vahan Zanoyan on his appointment said: “I am very pleased to be part of such a dynamic team and look forward to facing the challenges of the market by devising attractive investment opportunities. These are very challenging and, at the same time, extremely interesting times for launching an investment programme in the global energy sector. I am confident that as a team we will continue to expand our investment portfolio by uncovering niche investments which will maximise returns for our shareholders and provide an unmatched level of banking services to our clients.”

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