Financial services firm Lion Finance Group PLC announced a series of senior management changes on Thursday, affecting both the group and its Georgian banking arm, Bank of Georgia.
Lion Finance said Sulkhan Gvalia, who has been serving as acting chief financial officer for both the group and the bank, will step down from his executive role in March 2026 after two decades with the organisation. He will remain involved as a non‑executive member of the supervisory boards of several subsidiaries, including Ameriabank in Armenia.
Gvalia will be succeeded by Giorgi Shagidze, who will become group CFO, as well as deputy chief executive and CFO of Bank of Georgia. Shagidze joins Lion from Moldovan lender maib, where he served as CEO. His previous experience also includes senior roles at TBC Bank Group, where he helped steer its initial public offering and early expansion into Uzbekistan.
Lion Finance, formerly known as Bank of Georgia Group, added that Giorgi Gureshidze, who has led its mass retail banking division since March 2025, had been promoted to deputy CEO.
As of 0945 GMT, Lion Finance shares were up 0.21% at 9,585p.
Reporting by Iain Gilbert at Sharecast.com