Bank of Georgia Holdings PLC (“BGH”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that JSC BG Capital (“BG Capital”), the Bank’s brokerage arm has been renamed to JSC Galt & Taggart (“Galt & Taggart”). This move aims at bringing together the existing wealth advisory and research products and corporate advisory services under one roof with the consistent branding of the Bank of Georgia group’s corporate advisory, private equity, wealth management, brokerage and research businesses. The expansion of the Bank’s Investment Management business is aimed at enhancing the Bank’s fee generating businesses on the back of the increasing investor interest in the growing economies of the region. Galt & Taggart will operate under the Bank’s Investment Management business headed by Archil Gachechiladze, Deputy CEO of the Bank and the Chairman of Galt & Taggart.
“I am very excited about our prospects of establishing a full service Investment Management business building upon both our pioneering success in our wealth management and research services as well as the most extensive coverage of the corporate client base in Georgia. As the largest bank in the country with unique insight into the regional market and solid international investor base, we are well positioned to help investors explore investment opportunities and offer local and regional companies greater access to both equity and debt capital markets. Archil brings more than 10 years of banking experience, including in corporate banking and wealth management businesses in Georgia and private equity business internationally and, I trust, he is the right leader to spearhead Galt & Taggart’s business development efforts,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia.
“Investment management has become one of the key strategic directions in line with the evolving needs of our corporate client base that now increasingly require more sophisticated financials solutions and advisory services and the growing interest from international investor base seeking information and access to the regional markets. I am sharing my excitement with the entire Galt & Taggart team, which is made up of dedicated and talented professionals in their respective fields, as we embark on building a firm that is to play an important role both in the Bank’s progress and as well as the Georgia’s capital markets development. Through Galt & Taggart we plan to be at the forefront of this process,” commented Archil Gachechiladze Deputy CEO of the Bank and Chairman of Galt & Taggart.