29th Aug 2014 07:48
LONDON (Alliance News) - Bank of Georgia Holdings PLC Friday said it has rebranded the brokerage arm of its bank to JSC Galt and Taggart, as it looks to establish a full service investment management business.
In a statement, the holding company said the move is aimed at bringing together the existing wealth advisory and research products and corporate advisory services under one roof with the consistent branding of the Bank of Georgia group's corporate advisory, private equity, wealth management, brokerage and research businesses.
The bank is expanding its investment management business in order to grow its fee generating business, as it looks to benefit from "increasing investor interest in the growing economies of the region."
Galt and Taggart will operate under the bank's investment management business headed by Archil Gachechiladze, Deputy Chief Executive of Bank Of Georgia and Chairman of Galt and Taggart.
"Investment management has become one of the key strategic directions in line with the evolving needs of our corporate client base that now increasingly require more sophisticated financials solutions and advisory services and the growing interest from international investor base seeking information and access to the regional markets," Gachechiladze said in a statement.
Bank of Georgia Holdings shares were up 0.5% to 2,481 pence in early trade Friday.
By Samuel Agini; [email protected]; @samuelagini
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