Lion Finance names new head of Payments for Bank of Georgia

(Alliance News) - Lion Finance Group PLC on Tuesday said subsidiary JSC Bank of Georgia has made changes to its executive management, with Deputy Chief Executive Officer Mikheil Gomarteli stepping back from an executive role and Levan Kobakhidze appointed head of Payments.

Lion Finance said Mikheil Gomarteli will step down as deputy CEO of Bank of Georgia from January 1. He will continue in a non-executive role across the group's subsidiaries.

Gomarteli has spent 28 years at Bank of Georgia in senior and executive positions and played a key role in developing the lender's retail banking franchise and introducing major banking innovations in the local market, Lion Finance said.

The company said Levan Kobakhidze has been named the new head of the bank's Payments business. Kobakhidze joined Bank of Georgia in 2019 and was head of Digital Channels until 2023.

After relocating to New York and working as executive director of digital account opening at Wells Fargo & Co, Kobakhidze has returned to Georgia and rejoined Bank of Georgia in the new role.

Bank of Georgia Chief Executive Officer Archil Gachechiladze said Kobakhidze's "expertise in digital ecosystems and payment technologies will help us further grow our payments business".

Shares in Lion Finance opened 0.3% higher at 9,235.00 pence in London on Tuesday.

By Eva Castanedo, Alliance News reporter

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