13th May 2019 17:35
LONDON (Alliance News) - Georgian lender TBC Bank Group PLC said Monday it has appointed Jyrki Koskelo as chair of its main banking unit's supervisory board.
Koskelo previously worked for the International Finance Corp, part of the World Bank Group, in the US for 24 years, including as director of global financial markets and special adviser the institution's chief executive officer.
He currently sits on the boards of the Africa Agriculture & Trade Investment Fund, Latvian lender EXPO Bank and Bulgarian bank FIBank, and serves as the chair of Invest Solar, a Botswanan investment vehicle focused on solar energy.
TBC Bank's supervisory board was recently under investigation by Georgian regularity authorities but was settled when TBC's group chair and deputy chair stood down from their supervisory board roles and offered to pay a GEL1 million fine, about GBP280,000.
The National Bank of Georgia was conducting an inspection of TBC Bank JSC over "certain transactions" in 2007 and 2008. With the regulator claiming these transactions did not comply with relevant Georgian law concerning conflicts of interest.
Shares in TBC Bank closed down 2.4% Monday at 1,660.00 pence each.
Related Shares:
TBC Bank Group