Bank of Georgia Group PLC BOGG announces promotions within management team (1668K)
19 December 2022 - 10:00PM
UK Regulatory
TIDMBGEO
RNS Number : 1668K
Bank of Georgia Group PLC
19 December 2022
London, 19 December 2022
Bank of Georgia Group PLC Announces Promotions within Executive
Management Team
Bank of Georgia Group PLC (the "Group") announces that members
of JSC Bank of Georgia's Executive Management Team, Nutsa
Gogilashvili - Head of Mass Retail Banking, and Zurab Masurashvili
- Head of SME Banking, have been promoted to Deputy CEOs, subject
to regulatory approvals.
Archil Gachechiladze, Bank of Georgia's CEO, commented: "I am
pleased to announce the promotions of Zurab Masurashvili and Nutsa
Gogilashvili. Both Zurab and Nutsa have been key to Bank of
Georgia's success over the past few years. Zurab has transformed
the way we do SME banking, resulting in our leadership position in
this segment. Nutsa has demonstrated great achievements in
developing a customer-centric culture and a new human capital
management strategy, which led to a major improvement in customer
and employee experience and high NPS and eNPS scores. Since
September 2022 she has been leading the Bank's Mass Retail segment.
I have confidence that Zurab and Nutsa will further strengthen our
executive management team and keep contributing to the success of
the whole organisation."
About Zurab Masurashvili :
Zurab Masurashvili has more than twenty years of experience in
financial services. He joined Bank of Georgia in 2015 and has
served in various senior positions, including as Head of Express
Business, Head of Retail Business Banking, and Head of MSME
Banking. He has been Head of SME Banking since 2019. Before joining
the Bank, he served as Deputy CEO at PrivatBank Georgia
(2007-2015). Mr Masurashvili holds an undergraduate degree in
Geology from Georgian Technical University.
About Nutsa Gogilashvili :
Nutsa Gogilashvili has more than ten years of experience in
financial services. She has been with the Bank since 2016 in senior
positions, including as Head of Customer Experience Management,
Head of Strategic Processes of Corporate and Investment Banking,
and more recently as Head of Human Capital Management and Customer
Experience. She has been serving as Head of Mass Retail Banking
since September 2022. Before joining Bank of Georgia, she served as
Head of Strategic Planning and Budgeting at TBC Bank. During
2011-2014, Ms Gogilashvili worked at JP Morgan in London. 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.
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 CFO Head of Investor
CEO Relations
+995 322 444 444
+995 322 444 144 +44 203 178 4034 +995 322 444 108 (7515)
agachechiladze@bog.ge moliver@bgeo.com sgvalia@bog.ge ir@bog.ge
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