21st Nov 2016 07:42
LONDON (Alliance News) - BGEO Group PLC said Monday it is making a number of managerial appointments and shifting the business structure of its subsidiary JSC Bank of Georgia.
FTSE 250-listed BGEO said that it will split the bank's Retail Banking business into two separate units. The first will be made up of the Express Bank operations for the emerging retail segment and the Bank of Georgia brand operations for mass retail, led by Mikheil Gomarteli, deputy chief executive officer of the Bank of Georgia.
The second unit will consist of the small and medium enterprise banking and premium retail banking businesses, led by Ramaz Kukuladze, who will be appointed as a deputy chief executive officer as well.
Additionally, David Tsiklauri will join the bank from rival TBC Bank PLC, as a deputy chief executive officer and lead the Corporate Investment Banking department. He will replace Archil Gachechiladze in the role, who will be appointed chief executive officer of Georgia Global Utilities, the utilities and energy business of the company.
"I am delighted to announce these appointments that will further strengthen management throughout the Group, following Kaha Kiknavelidze's appointment as the Bank's CEO in September," said Irakli Gilauri, group chief executive officer.
By Adam Clark; [email protected]
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Bank Of Georgia GroupTBC Bank Group