The New Composition of the Board of Directors of PASHA Bank Georgia

Supervisory Board of JSC PASHA Bank Georgia has approved new composition of the Board of Directors on April 29, 2021.

Nikoloz Shurgaia was appointed as CEO, Chairman of the Board of Directors of the Bank; Levan Aladashvili was appointed as Chief Risk Officer and Member of the Board of Directors; and Giorgi Chanadiri - Chief Information and Operating Officer and the Member of the Board of Directors.

Arda Yusuf Arkun has resigned from his position as CEO, Chairman of the Board of Directors of PASHA Bank Georgia. He held the mentioned position since 2018.Asaf Huseynov has also resigned from his position of Chief Risk Officer and the Member of the Board of Directors. Both Arda and Asaf will continue their careers at PASHA Holding.

The Board of Directors of PASHA Bank Georgia consists of four Directors and its current composition is as follows:

🔸 Chairman of the Board of Directors, CEO – Nikoloz Shurgaia

🔸 Member of the Board of Directors, CFO – Selim Berent

🔸 Member of the Board of Directors, CRO – Levan Aladashvili

🔸 Member of the Board of Directors, Chief Information Officer and Chief Operating Officer – Giorgi Chanadiri

The new CEO of PASHA Bank Georgia, Nikoloz Shurgaiareceived his Bachelor’s degree in Finance and Credit at Tbilisi State University. He also holds Master’s degree in Economics and MBA from London Business School in Business Administration.

Nikoloz started his career at Eximbank of Georgia (later United Georgian Bank) in 1994 where he held various positions until 2002. In 2004 he worked as an Assistant Vice-President for ABN AMRO BANK, in Moscow. After one year, Nikoloz was appointed as Principal Banker atEBRD’s Financial Institutions Group in London. In 2008-2009 Nikoloz held a position of General Director (CEO) at VTB Bank Georgia. In 2009-2011 he worked as an Executive Chairman ofBelaruskyNarodny Bank in Minsk, and simultaneously held a position of Deputy CEO at Bank of Georgia.

In 2012-2014 Nikoloz became Chairman of the Management Board (CEO) at Rabitabank, in Baku. From 2016 to 2020, he was Chairman of the Management Board (CEO) at Yelo Bank in Baku. Since 2011, Nikoloz has been an Independent Advisor in Azerbaijan, Belarus, Georgia and Kazakhstan (Georgian Stock Exchange, PASHA Bank Georgia, Bank Moscow-Minsk, EvrotorgInvestBank, Caspian Financial Group).

“I am well acquainted with PASHA Bank, as for the past eight years I worked in Azerbaijan, where PASHA Holding is a leading investment group operating in diverse business sectors. I served as a Member of Supervisory Board of PASHA Bank Georgia in years 2015-2016 and I am very happy to rejoin the Bank as the CEO. I am excited to be back to Georgia and to hold this responsible position of leading a Bank in such a challenging economic environment. This opportunity is of a great honor and interest to me. Along with the direct effects of my roles and responsibilities I will have a chance to be useful in many directions. I am most excited about contributing to the development of the young, motivated and talented managers who work at PASHA Bank,” - commented Nikoloz Shurgaia.

PASHA Bank is a Baku-based financial institution operating in Azerbaijan, Georgia and Turkey, providing corporate and investment banking services to large, medium and small enterprises. Re|Bank is a sub-brand by PASHA Bank that aims at simplifying and re-establishing retail banking experience.