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Two Deputy Directors General Quit Bank of Georgia

Bank of Georgia has released a statement notifying changes in the management.

Namely, deputy directors general David Tsiklauri and Ramaz Kukuladze have quitted the board of directors.

According to the Bank of Georgia information, Sulkhan Gvalia will occupy the position of a bank’s deputy director general in the direction of finances.

Sulkhan Gvalia has two-year experience of working in the banking sector.

He has worked on various managing positions at Bank of Georgia, including on the risks management position (2005-2012) and commercial banking position (2012-2016). He is founder of E-Space founder and director and member of the supervisory board of InecoBank (Armenia).

Giorgi Pailodze will rplace Vasil Khodeli on the position of deputy director general in the direction of corporate and investment banking. At the same time, Vasil Khodeli remains on the position of a deputy director general in the board of directors. 

Giorgi Pailodze will join the Bank from Evercore, from the London office of the investment banking company, where he carries out strategic consultations for corporate and private investment companies in various fields. 

Giorgi Pailodze has occupied various leading positions in the banking sector, including in New York at Citi Investment Bank, then at the New York office of Evercore and then at the London Office. He has graduated from Cornell University management school with MA degree.

According to the changes in the board of directors, SME business and SOLO direction will be separated. 

Zurab Masurashvili will lead the SME segment, who had headed micro and small business crediting department. And Etuna Iremadze will lead the SOLO business direction, who has for many years led the position of a premium banking services department.

Etuna Iremadze will move to Bank of Georgia from Georgian Global Utilities.