PURCHASE, N.Y.– Quorum Federal Credit Union has named Jeffrey Pachter, who currently serves as president, as the CU’s next president and CEO, effective Feb. 1, 2022. Pachter will succeeds Bruno Sementilli, who announced his retirement after 38 years.
QFCU said Sementilli will assist with the transition until his retirement in 2022.
"Leading Quorum into the financial services company we are today has been one of the greatest honors of my life, and I know the company is in great hands," Sementilli said. "After nearly 39 years, I'm proud of the company we've built, humbled by the amazing people I've had the pleasure of working with, and pleased that the accomplishments we've achieved have helped to improve the lives of our members. Jeff's leadership, business and financial acumen, and proven performance at Quorum make him the natural choice to succeed me as CEO. The company is well-positioned for future profitable growth, and I have full confidence that Jeff will continue to advance our success."
Pachter joined the $957-million Quorum in 2014 as CFO and chief operations officer, where he oversaw all operations, including lending, marketing, operations, information technology, finance/accounting, compliance and facilities.
“Under his leadership, the organization significantly grew annual revenues and improved profitability and productivity through strategic transformation initiatives, restructuring and developing core strengths,” the credit union said in a statement.
In 2019, Pachter was appointed president maintaining oversight of all operations and increased baseline ROA while managing multiple disruptions, a business model shift, and substantial investment in projects, the credit union said.
Outperformed Peer Group
“He positioned the organization to outperform the peer group due to strong loan operations and guided the launch of the organization's multi-year strategy to focus on business transformation,” according to QFCU.
Prior to joining Quorum, Pachter held senior executive positions with Time, Inc./Reader's Digest Association and Gartner.
"I am deeply honored to have the opportunity to succeed Bruno and lead Quorum into the future," said Jeff Pachter. "Together with the Quorum Senior Leadership team and all our employees, I will work to build on the strong foundation that Bruno has put in place. I am excited and confident about our company's future and look forward to further accelerating the value we bring to all of our stakeholders."
Quorum Federal Credit Union was founded in 1934 to serve Kraft Foods employees, and today serves more than 50 SEGs nationally, including Ogilvy, Avon, Mondelēz International, Philip Morris International, Altria, and Kraft Heinz. The credit union has more than 66,000 members.