Azerbaijan’s NIKOIL Bank names new chairman of board (UPDATE)

Business Materials 22 July 2016 14:46 (UTC +04:00)

Baku, Azerbaijan, July 22


Azerbaijan’s NIKOIL Bank has announced a new appointment.

Nikoloz Shurgaia has been appointed the new chairman of NIKOIL Bank’s board, read a message posted on the bank’s website July 22.

“The key reason of management change is the bank’s willingness to accelerate its strategic transformation into a more prominent provider of modern quality financial services to businesses and individuals in Azerbaijan,” the message said.

According to the message, Shurgaia replaced Vasiliy Khamaza, who has been holding the chairman’s post since 2005.

Shurgaia is a professional banker with 20 years of experience in financial sector in Azerbaijan, Belarus, Georgia, Russia and the UK.

Shurgaia is currently a member of supervisory boards of banks in Belarus and Georgia, as well as at the Georgian Stock Exchange.

He has graduated from London Business School and State University of Tbilisi.