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Changes in Bank of Georgia and BGEO Management

Changes have taken place in the management of Bank of Georgia and BGEO.

Namely, David Tsiklauri was appointed a deputy director general of Bank of Georgia with focus on financial direction, Levan Kulijanashvili – deputy director general with focus on operational direction and Vasil Khodeli – deputy director general with focus on corporate and investment banking direction.

David Tsiklauri and Levan Kulijanashvili are members of Bank of Georgia board of directors, while Vasil Khodeli used to chair corporate banking service of Bank of Georgia. The mentioned appointments will come into force upon NBG approval.

According to the decision that BGEO investment group announced in July, the company will be developed in two separate independent directions (banking business and investment business). The Group’s new financial director Levan Kulijanashvili will be replaced by Giorgi Alpaidze, who had previously supervised the group’s finances, mobilization of financial resource and relations with investors.

“I am happy that we have many talented managers in our company. After BGEO investment group announced its decision to get developed in two separate directions – banking business and investment business, I am sure that separation of the function of a financial director and renovation of the bank’s managing team will further promote a successful growth in both directions”, Irakli Gilauri, director general for BGEO investment group and Bank of Georgia supervisory board chairman noted.

“I would like to congratulate David, Levan and Vasili on the new appointment and I welcome new members have joined the bank’s managing team. All of them have important professional and leadership experience and I believe this factor will ensure further success of commercial bank. I am eager to start working with the new tea, for attaining the bank’s strategic objectives”, Bank of Georgia director general Kakha Kiknavelidze noted.