Appointment of new CFO

RNS Number : 6043D

TBC Bank Group PLC

29 October 2020

 

Appointment of new CFO

TBC Bank Group PLC ("TBC PLC") announces that the Board has appointed Giorgi Megrelishvili as the company's Chief Financial Officer and as a member of the management board (deputy CEO, Chief Financial Officer) of its main subsidiary, JSC TBC Bank ("TBC Bank") starting from 28 October 2020.

Giorgi Megrelishvili has significant international experience in strategic financial management and regulatory risk compliance. He joined TBC Bank as deputy CFO in March 2020 with responsibilities for budgeting, NBG and IFRS reporting, financial analytics and treasury. Before joining TBC Bank, Giorgi was Director, Head of Capital Risk and Stress Testing at Natwest Markets N.V. in Amsterdam, Netherlands and prior to that Giorgi worked for 11 years at Barclays Bank PLC in London ,   where he held various senior positions across Barclays' treasury and finance functions. Giorgi received his MBA degree with honours from the University of Cambridge, Judge Business School in 2008.

Following Giorgi Megrelishvili's appointment, Giorgi Shagidze has stepped down from his positions as deputy CEO of the Bank and Group CFO and as a member of the TBC PLC Board. As announced earlier, he will stay with TBC Bank until the end of the year in an advisory role to ensure a smooth transition.

Vakhtang Butskhrikidze, CEO of TBC PLC commented: "I would like to congratulate Giorgi Megrelishvili on his new role and wish him success as group CFO . He has very valuable skills and experience and has already become a great addition to our team and the company. We look forward to having a long and successful journey together. I would also like to thank Giorgi Shagidze for his tremendous contribution towards the development of our company during the past 10 years and wish him all the very best with his future endeavours".

For further enquiries, please contact:  
Director of International Media and Investor Relations
Zoltan Szalai

Or

Head of Investor Relations

Anna Romelashvili

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About TBC Bank Group PLC ("TBC PLC")

TBC Bank Group PLC ("TBC PLC") is a public limited company registered in England and Wales. TBC PLC is the parent company of JSC TBC Bank ("TBC Bank") and a group of companies that principally operate in Georgia in the financial sector and other closely related fields. TBC PLC also recently expanded its operations in Uzbekistan. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of FTSE4Good Index Series.

TBC Bank, together with its subsidiaries, is a leading universal banking group in Georgia, with a total market share of 39.5% of loans and 37.1% of non-banking deposits as of 30 June 2020, according to data published by the National Bank of Georgia.

 

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