TBC Bank creates corporate and investment banking unit

21st Nov 2016 09:40

(ShareCast News) - TBC Bank, headquartered in Georgia, has announced the creation of a new corporate and investment banking business through the merger of two internal unit, two months after its acquisition of Bank Republic.The CIB unit is designed to provide clients with debt, capital markets products and advisory services through a fully integrated franchise.The new structure will be headed by deputy chief executive and chief risk officer George Tkhelidze, an ex Barclays CIB man.Tkhelidze successfully led the strengthening of TBC's risk management structure and overall risk profile during his role as management board member in charge of risk management. He also played an important role in the acquisition of Bank Republic.As a result, David Tsiklauri, head of corporate banking division, will be leaving the bank following the change to pursue other opportunities outside the bank.Chief executive Vakhtang Butskhrikidze said: "I would like to congratulate George on this appointment, and wish him the same success in this new role as he enjoyed as our chief risk officer. The newly-formed Corporate and Investment Banking business will play crucial role in TBC Bank's development."The share price was flat at 1,325p at 1052 GMT on Monday.