TBC Bank Deputy Chief Executive Steps Down, Remains Unit Chief

LONDON (Alliance News) - TBC Bank Group PLC said Thursday that Paata Gadzadze, first deputy chief ...

Alliance News 6 December, 2018 | 2:39PM
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LONDON (Alliance News) - TBC Bank Group PLC said Thursday that Paata Gadzadze, first deputy chief executive officer of the bank, will step down from the board with effect on January 1,2019.

Gadzadze, who joined TBC in 1994 and in 1998 was made deputy CEO, will continue to serve as CEO of TBC Insurance, a fully-owned subsidiary of TBC PLC.

"Given the fast growth and ambitious plans of TBC Insurance, Gadzadze's full-time engagement in the business has become essential," the bank added explaining the reason of his retirement.

TBC Bank shares were trading down 3.2% at 1,414.00 pence.

By Elena Cherubini; elenacherubini@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
TBC Bank Group PLC 1,396.00 GBX -0.71 -
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