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[December 25, 2013]

"SAKARTVELOS BANKI" UPDATED BOARD OF DIRECTORS [Sarke Daily News (Georgia)]

(Sarke Daily News (Georgia) Via Acquire Media NewsEdge) "Sakartvelos Banki" ("Bank of Georgia") declared that 3 non-executive directors of "BGH" ("Bank of Georgia Holdings") left board and supervisory council of "BGH". The matter concerns Ian Hague (managing director of "Firebird" funds), Hanna Loikkanen (senior advisor and head of Russian private equity unit at "East Capital") and Allan Hirst (an independent non-executive director).


These persons were replaced by Bozidar Delic, Kim Bradley and Tamaz Giorgadze.

Bozidar Delic occupied office of Serbia's Finance and Economy Minister during 4 years. Besides, he was an adviser to the governments of Poland and Russia. At present, Delic is a senior member of the advisory team "Transition to Transition" of EBRD.

Kim Bradley left "Goldman Sachs" in the early 2013 after 15 years in office, while working as a chief executive officer at "GE Capital" during 7 years until that.

Tamaz Giorgadze worked for 10 years at "McKinsey & Company" in Berlin, providing consulting service for German, Swiss, Russian, Georgian and Vietnamese banks. In 1995-1995, he was aid to Georgian President. Giorgadze had graduated PhD program in economics at Tbilisi State University and Justus Liebig University of Giessen.

"Sakartvelos Banki" explained that inner corporate policy of "BGH" defines working term of each director and member as 6 years (they are elected at the annual general meeting of shareholders).

The board has also decided to establish a risk committee (chairman – Kim Bradley), which will start operation in 2014.

(c) 2013 Sarke Information Agency Provided by Syndigate.info, an Albawaba.com company

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