BOGG announces changes to management team

RNS Number : 1477Y

Bank of Georgia Group PLC

02 September 2022

 

London, 2 September 2022

Bank of Georgia Group PLC Announces Changes within Executive Management Team

Bank of Georgia Group PLC (the " Group ") announces changes within JSC Bank of Georgia's (the " Bank " or " Bank of Georgia ") executive management team, with effect from 2 September 2022.

Nutsa Gogilashvili, now serving as Head of Customer Experience and Human Capital Management, assumes the role of Head of Mass Retail and Micro Business Banking. Ms Gogilashvili joined the Bank in 2016 and has been a member of the Bank's executive management team since August 2019.

Mikheil Gomarteli will remain with the Bank as Deputy CEO and continue working on key strategic projects.

Elene Okromchedlishvili will be appointed as Head of Human Capital Management, reporting directly to the CEO. Ms Okromchedlishvili served as Head of Business Processes, Lean Transformation and Transactions, reporting to Deputy CEO, Chief Operations Officer, since February 2020.

"I want to congratulate Nutsa on her new role," said Archil Gachechiladze, CEO of Bank of Georgia Group PLC. "Throughout her time with Bank of Georgia, Nutsa has demonstrated leadership and commitment to this organisation and has been instrumental in strengthening our customer-centricity and delivering significant improvements in both customer and employee experiences at Bank of Georgia over the past few years. I'm confident that she will enhance our retail business and enable us to offer even more tailored products and services to our customers. I want to thank Mikheil for his invaluable contributions to the retail business and the Bank overall for many years, and I am glad that he will continue working with the team on key strategic projects. Also, I want to congratulate Elene on her promotion. I believe her broad experience in operations, business processes and technology will enable her to drive innovation in her new role."

About Nutsa Gogilashvili:

Ms Gogilashvili has more than ten years of experience in financial services, including various senior positions in local and international organisations. She joined the Bank in May 2016 and held senior positions, including Head of Strategic Processes of Corporate and Investment Banking in 2016 and Head of Customer Experience Management since January 2017. Ms Gogilashvili was appointed as Head of Customer Experience and Human Capital Management in August 2019.

Prior to joining the Bank she served as Head of Strategic Planning and Budgeting at TBC Bank. Ms Gogilashvili had previously worked in London as analyst at JP Morgan, covering several product control roles (2011-2014). Ms Gogilashvili received her MSc in Finance from Bayes (formerly Cass) Business School in London and an undergraduate degree in Economics from Moscow State Institute of International Relations.

About Elene Okromchedlishvili:

Ms Okromchedlishvili joined the Bank in 2017 and held various positions, including as Head of IFRS reporting unit responsible for the Bank's stand-alone financial statements and those of its subsidiaries, Head of operational efficiency and cost management unit and recently as Head of business processes, lean transformation and transactions. Prior to joining the Bank, Ms Okromchedlishvili worked at EY, progressing to the position of senior auditor. Ms Okromchedlishvili holds a bachelor's degree in business administration from Free University Tbilisi and an MBA from IE Business School.

Name of authorised official of issuer responsible for making notification: Nini Arshakuni, Head of Investor Relations

About Bank of Georgia Group PLC

Bank of Georgia Group PLC ("Bank of Georgia Group" or the "Group" and on the LSE: BGEO LN) is a UK incorporated holding company. The Group mainly comprises: a) retail banking and payment business (Retail Banking); and b) corporate banking and investment banking operations (Corporate and Investment Banking) in Georgia. JSC Bank of Georgia ("Bank of Georgia", "BOG", or the "Bank"), a systematically important and leading universal bank in Georgia, is the core entity of the Group. The Bank is a leader in the payments business and financial mobile application, with strong retail and corporate banking franchises. In line with our digital strategy, the Group focuses on expanding technological and advanced data analytics capabilities to offer more personalised solutions and seamless experiences to our customers. Employee empowerment, customer satisfaction, and data-driven decision-making, together with the strength of the banking franchise, are key enablers of the Group's sustainable value creation. By building on its competitive strengths and uncovering more opportunities, the Group is committed to delivering strong profitability sustainably and maximising shareholder value. The Group expects to benefit from the growth of the Georgian economy, and through both its Retail Banking and Corporate and Investment Banking operations, it aims to deliver on its strategy and its key medium-term objectives  ̶ at least 20% return on average equity (ROAE) and c.10% growth of its loan book.

JSC Bank of Georgia has, as of the date hereof, the following credit ratings:
Fitch Ratings	'BB-/B'
Moody's	'Ba2/NP'

For further information, please visit www.bankofgeorgiagroup.com or contact:

Archil Gachechiladze	Michael Oliver	Sulkhan Gvalia	Nini Arshakuni
CEO	Adviser to the CEO	CFO	Head of Investor Relations
[phone]	[phone]	[phone]	[phone] (7515)
[e-mail]	[e-mail]	[e-mail]	[e-mail]

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This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities

 

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