Fahad Al Rajaan is an accomplished Kuwaiti businessman and investment specialist. He studied in Washington D.C. at the American University, graduating with a bachelor’s degree in Business Administration in 1974.
Mr Al Rajaan worked for the Kuwait Investment Company at the start of his career, where he was engaged as an Issues Manager. He worked at the company for six years, before accepting the role of Chairman and Managing Director of the Kuwait Real Estate Investment Consortium, a role he held from 1981 to 1984.
Fahad Al Rajaan then accepted an appointment as Director General of the Public Institution for Social Security (PIFSS) for the Kuwaiti Government. In this role, he had the responsibility of managing approximately $30 billion in state assets, gathered from oil revenues to support the people of Kuwait.
Kuwait established its pension scheme in 1955. Today, the country’s social security laws are widely recognised as some of the world’s most generous in terms of the rights of beneficiaries, with approximately 600,000 Kuwaiti citizens benefiting from the nation’s social security system.
In addition to presiding as Director General of the Kuwaiti PIFSS, Fahad Al Rajaan led an established and long career in finance. He acted as Ahli United Bank’s Chairman, overseeing operations of the organisation formerly known of the United Bank of Kuwait, which has been owned by the State of Kuwait since 1971.
Ahli United Bank is the largest lender in Bahrain by market, providing wealth management, treasury, corporate, offshore, retail, and private banking services. It was in this role that Mr Al Rajaan enjoyed particular success.
In 1985, he cofounded the New York investment group, Wafra Investment Advisory Group. The company was created to manage overseas investments on behalf of the PIFSS. Fahad Al Rajaan led Wafra Investment Advisory Group as Chairman, with the organisation expanding its remit over the years. Today, PIFSS investments form just 30% of the company’s $10 billion investment portfolio.
Throughout his career, Mr Al Rajaan has worked with and led a number of prestigious financial organisations, including Pargesa Holdings, the Industrial Bank of Kuwait, the Kuwait Real Estate Investment Consortium and the Egyptian Gulf Bank in Cairo.
In his spare time, Mr Al Rajaan is an accomplished golfer. He enjoyed great success at the Dubai Duty Free Golf Cup’s 21st annual championship. At the event, which took place at the luxurious Dubai Creek Golf and Yacht Club, Mr Al Rajaan claimed first prize, beating more than 100 accomplished golfers including past champions Craig McBride, Khalid Al Halyan, Marino Chairentin, and Francisco Giles.