Bank of Georgia appoints former CFO as new leader

Bank of Georgia confirmed the appointment of former chief financial officer Archil Gachechiladze as chief executive of the group and of JSC Bank of Georgia on Thursday.

Gachechiladze will take on the role on 28 January, when incumbent chief executive Kaha Kiknavelidze will step down and leave the FTSE 250 company’s board, subject to approval and consent from the bank's regulator, The National Bank of Georgia.

Neil Janin, Chairman, said: "Archil brings a strong strategic perspective and has an excellent track record of delivering growth in the Georgian banking environment. He is an extremely strong business leader with the experience and drive to take Bank of Georgia into its next phase, following a period of significant corporate and regulatory change."

Gachechiladze joins Bank of Georgia from his current role as chief executive of Georgia Global Utilities and has previously held senior management positions in Bank of Georgia, including as deputy chief executive in charge of corporate banking, and as chief financial officer.

Archil Gachechiladze said: "There are many opportunities available in the Georgian financial services sector to develop more digital and modern financial services throughout Georgia, and I look forward to working with the management team and colleagues to leverage these opportunities over the next few years."

Bank of Georgia’s shares were up 2.20% at 1,554.20p at 1117 GMT.