Darja Bolšakova appointed as Chief Financial Officer of Arco Vara

As of today, Darja Bolšakova joins real estate developer Arco Vara as Chief Financial Officer. With extensive experience in the financial sector, her main goal will be to support the company through its next phase of growth.

According to Kristina Mustonen, CEO of Arco Vara, Bolšakova was chosen for her strong financial expertise and diverse background across various sectors, including real estate development, private equity, and international investment portfolios. CEO believes that strong financial leadership is the foundation of sustainable growth and stability. “Darja’s analytical strength and experience in making value-based decisions provide a solid foundation for Arco Vara’s continued development,” Mustonen said.

Bolšakova has previously led investment and financial strategies in companies with a strong focus on real estate development. What drew her to Arco Vara was the opportunity to contribute to a company where the CFO plays an active role in shaping strategic decisions and driving ambitious development plans.

“My main goal in this role is to support Arco Vara’s sustainable growth and successful project execution through strong financial management,” Bolšakova said. She believes that transparent financial leadership, setting realistic expectations, and clear communication are key to maintaining investor trust. “At Arco Vara, I aim to ensure reliable reporting and forecasting, strengthen the capital structure, and maintain open dialogue with investors. Their feedback and expectations are essential for creating long-term value,” she added.

Darja Bolšakova brings 15 years of financial experience, having held senior positions at companies such as BaltCap AS, Skinest Grupp AS, and SAGA Family Office. Her responsibilities have included financial reporting, investment strategy, fund administration, and M&A transactions. She holds a master’s degree in finance from the University of Tartu.

The transition of responsibilities from current CFO Tiina Malm to Bolšakova will take place gradually to ensure a smooth handover. Bolšakova is expected to fully take over the role by the end of May.