Bank of Georgia opens new wealth management branch in Tbilisi

The FTSE 250 firm said the office resided in a historic 19th century building, which originally housed the First Credit Society of Georgia, and was considered to be the first residence of a local banking institution.

It said the branch office was renovated by the Italian design company DINN!.

The design concept was derived from the integration of Georgian culture with western values, while the artistic expression of the building was reportedly left intact.

Bank of Georgia said it had offered wealth management services since 2005, and currently served more than 1,500 clients from around 80 countries.

The wealth management business has representation in Tbilisi, London, Budapest, Tel Aviv, Istanbul and Limassol.

“I am delighted that Bank of Georgia will continue to offer its superior wealth management services from this new office in the heart of Tbilisi,” said chief executive officer Archil Gachechiladze.

“The opening of the office in such a historically significant and symbolic building in the capital coincides with a creation of a new brand identity of Bank of Georgia's wealth management business, which is grounded on the virtues of both Georgia and the bank.”

Gachechiladze said the country had “superior qualities” to offer to investors.

“It is politically and economically stable; it has an exceptionally healthy and profitable financial sector, and it is one of the best countries in the world to do business.

“Bank of Georgia is innovative, experienced and a highly trustworthy financial partner in Georgia - all of which makes it best suited to become the regional hub for private banking.”