PASHA Bank's Shurgaia Appointed as a Georgian Stock Exchange Supervisor

Board Member of PASHA Bank Supervisory Board, Nikoloz Shurgaia, has been appointed as a member of Georgian Stock Exchange Supervisory Board by the General Meeting of Member-shareholders.

The Georgian Stock Exchange (GSE) is the only organised securities market in Georgia. Designed and established with the help of USAID and operating within the legal framework drafted with the assistance of American experts, GSE complies with global best practices in securities trading and offers an efficient investment facility to both local and foreign investors. The automated trading system of GSE can accommodate thousands of securities that may be traded by brokers from the workstations on the GSE floor or remotely from their offices.

As of June 1, 2015, 129 companies were traded on GSE, with a total market capitalization of USD 0.880 billion and an average daily turnover of USD 587.55.

Nikoloz Shurgaia received his bachelor's degree in Finance and Credit at Tbilisi State University in 1995. In 2004 he obtained his Master of Business Administration Degree at London Business School. He began his career at the United Georgian Bank working as a loan officer in 1994, and was later promoted to the following positions: Head of Mortgage Division; Deputy Director, Lending; Director, International Relations; and Director, Corporate and Retail Lending.

In 2004, Mr. Shurgaia moved to Moscow and joined ABN AMRO BANK as Assistant Vice President, Integrated Energy Group. From 2005, he began working as a Principal Banker at EBRD, London. From 2008 to 2009 he worked for VTB Bank (Georgia) as the Chief Executive Officer. He continued his career at Belarusky Narodny Bank as Executive Chairman, while he simultaneously served the Bank of Georgia as Deputy CEO. From 2012 to 2014, Mr. Shurgaia worked in Azerbaijan for Rabitabank as a Chairman of the Management Board and since 2011, Mr. Shurgaia has worked as an Independent Advisor and Entrepreneur in Azerbaijan, Georgia, Kazakhstan and Belarus.

Mr. Nikoloz Shurgaia was appointed a Member of the Supervisory Board of PASHA Bank on January 31, 2015.