TBC Bank Group PLC TBC Bank Strengthens CIB Capabilities (6598P)
21 November 2016 - 6:00PM
UK Regulatory
TIDMTBCG
RNS Number : 6598P
TBC Bank Group PLC
21 November 2016
TBC Bank Group PLC ("TBC" or "the Bank") Strengthens Corporate
and Investment Banking Capabilities
Following the successful acquisition of Bank Republic, TBC is
further strengthening its corporate and investment banking
capabilities.
TBC announces today the creation of a CIB unit through the
merger of its Corporate and Investment Banking to provide clients
with debt, capital markets products and advisory services through a
fully integrated franchise.
The new CIB structure will be headed by George Tkhelidze, who
currently holds the position of Deputy CEO and Chief Risk
Officer.
George brings strong international and local banking experience
to the role. Before joining TBC, he spent five years at Barclays
Bank, London in its Corporate and Investment Banking units as Vice
President in Financial Institutions Group (FIG).
After joining TBC in 2014 as a Management Board member in charge
of Risk Management, George successfully led the strengthening of
the Bank's risk management structure and overall risk profile.
George also played an important role in the successful
acquisition of Bank Republic and has a thorough knowledge of the
Bank's business clients.
Following the change, David Tsiklauri, head of the corporate
banking division will be leaving the bank to pursue other
opportunities outside TBC Bank.
Vakhtang Butskhrikidze, Chief Executive Officer said: "I would
like to congratulate George on this appointment, and wish him the
same success in this new role as he enjoyed as our Chief Risk
Officer. Newly-formed Corporate and Investment Banking business
will play crucial role in TBC Bank's development."
George joined TBC Bank in 2014 from Barclays Investment Bank,
where he held the position of Vice President in the Financial
Institutions Group (FIG) M&A, EMEA since June 2011. Prior to
this, from September 2009 he was an Associate Director in Barclays
Debt Finance and Restructuring Teams in Barclays Corporate
Division. During his career with Barclays in London, George worked
on and executed multiple M&A, debt and capital markets
transactions with European clients. In his earlier career in
Georgia, George held various managerial positions at ALDAGI
insurance company, where he also served as Chief Executive
Officer.
George graduated from the London Business School with an MBA
degree (2009). He also holds Master of Laws degree (LL.M) in
International Commercial Law from the University of Nottingham
(2002) and Graduate Diploma in Law from Tbilisi State University
(2000).
If you have any questions, please contact:
Head of Investor Relations
Anna Romelashvili
ir@tbcbank.com.ge
About TBC Bank Group PLC ("TBC PLC")
TBC PLC is a public limited company registered in England and
Wales that was incorporated in February 2016. TBC PLC became the
parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016.
About TBC Bank
TBC Bank, together with its subsidiaries, is the leading
universal banking group in Georgia, with a total market share of
29.7% of loans (37.2% with Bank Republic) and 30.6% of non-banking
deposits (35.5% with Bank Republic) as at 30 September 2016,
according to the data published by the NBG. As a result of the
acquisition of JSC Bank Republic, TBC Bank becomes the largest bank
in Georgia by all key metrics.
This information is provided by RNS
The company news service from the London Stock Exchange
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