•   Corporate Governance  

     

Corporate Governance

Supervisory Board

Farid Mammadov

Chairman of PASHA Bank Supervisory Board

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Shahin Mammadov

Member of PASHA Bank Supervisory Board

George Glonti

Senior Independent Member of PASHA Bank Supervisory Board

Ebru Ogan Knottnerus

Independent Member of PASHA Bank Supervisory Board


Farid Mammadov

Chairman of PASHA Bank Supervisory Board

Farid Mammadov completed his undergraduate education in Political Science at the Baku Social Management and Political Science Institute and earned a master's degree in Political Science from the Academy of Public Administration under the President of the Republic of Azerbaijan.

Having started his banking career in 1999 as credit officer at the United Credit Bank CB, Farid Mammadov served as the Director of the Credits Department at the Bank of Baku OJSC from 2001 to 2010 and subsequently as the Deputy CEO. He started in 2012 to work as the Risk Director within PASHA Holding and served as a Member of the Board of Directors at PASHA Bank OJSC until June 2013 while maintaining his current duties. From this date until February 2017, he served as the First Deputy CEO at the Kapital Bank OJSC. Since February 2017, he has been serving as the Deputy CEO of PASHA Holding LLC and the Director of Business Group. His experience in banking and business management is 18 years.

Farid Mammadov is the Chairman of PASHA Bank Supervisory Board effective June 01, 2017.

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.
Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director in 2003-2004 and was the Deputy Chairman of the Board of Directors of Azpetrol Holding from 2004 to 2006. He joined the Moscow Office of McKinsey & Company and served as a Consultant in 2006-2007. He held top management duties: CEO in Bank of Baku, Finance Director in CRA Group Companies, and CEO and Chairman of the Executive Board in Unibank between 2007-2015, respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and also serves as the Chairman of the Supervisory Board of Kapital BANK OSJC.

Jalal Gasimov is a member of Board of Directors of PASHA Bank Turkey. He was appointed a Member of the Supervisory Board of PASHA Bank Georgia on October 26, 2015.

 

Shahin Mammadov

Member of PASHA Bank Supervisory Board

Shahin Mammadov graduated from Azerbaijan State Economic University and received a Bachelor Degree majoring in Accounting and Audit in 2002. In 2004, he was awarded a Master’s Degree from the same university in Accounting and Audit. In 2010 Mr. Mammadov received his Ph.D. in Economics from Academy of Sciences of the Republic of Azerbaijan.
Mr. Mammadov started his career as an accountant in 2003 and was later promoted to Deputy Chief Accountant at Yapi Kredi Bank Azerbaijan (former Kochbank Azerbaijan JSB). He joined Deloitte & Touche in 2005 as Associate Auditor and was subsequently promoted to Audit Manager.
In 2009, Mr. Mammadov was assigned to the position of Director of the Financial Management Department at PASHA Bank Azerbaijan and in 2011 he became Chief Financial Officer and member of the Executive Board. In 2013, he joined the Board of Directors of PASHA Bank Georgia supervising the business development function. In July 2014, Mr. Mammadov was appointed the CEO and Chairman of the Board of Directors at PASHA Bank Georgia. Since March 2015, Shahin Mammadov is a Member of the Supervisory Board of PASHA Bank Turkey. 
In January, 2018 Mr. Mammadov was assigned to the position of Business Support Director and Deputy CEO at PASHA Holding. On March, 1st, 2018 Shahin Mammadov became Member of the Supervisory Board of PASHA Bank Azerbaijan and on May 30th, 2018 became Member of the Supervisory Board of PASHA Bank Georgia.
Mr. Mammadov successfully completed several education programs in a number of top business schools as a part of High Potential Leadership Program organized by PASHA Holding in 2013.
In 2012 Shahin Mammadov enrolled in Harvard Business School’s Program for Leadership Development (Executive Education Program) and in 2013 graduated from this Program completing its Module 1-4. In 2017 he enrolled in and completed Module 5 of Program for Leadership Development of Harvard Business School. Mr. Mammadov obtained Alumni Status from Harvard Business School in July 2017.
Shahin Mammadov is a Member of the Association of Chartered Certified Accountants (ACCA) since 2014.

George Glonti

Senior Independent Member of PASHA Bank Supervisory Board

George Glonti completed his education, BA and MBA, as Financier and Economist, with specialization in Banking, at the Tbilisi State University, in Georgia. 
Having started his banking career in 1992 as an Assistant in International Operations and Documentary Transactions Department in Iberia Bank and later, became head of the same department in 1994 and held this position until 1995. 
During 1995-1996 he continued his career as a Financial Director of TBC Group and Alma TBC; At a time, he also was the Member of the Board of Directors and Credit Committee of TBC Bank. Later, he held the position of Head of International Division in TbilUniversalBank from 1996 to1999. 
Between years 1999-2003 George Glonti was the Managing Partner,CEO, and Shareholder of the UBC International LTD (Audit & Consulting), a company associated with PwC.
In 2003-2005 he was Deputy CEO of People’s Bank of Georgia. In 2005-2008 became Vice President of the National Bank of Georgia and the Member of the NBG Council. From 2008 to 2009 he was a CEO of the People’s Bank of Georgia (presently “Liberty”). In 2009 he became CEO of Kor Standard Bank (presently “Tera Bank”) and held the position until 2013.
In 2013-2014 George Glonti was the Managing Partner and CEO of the Phoenix Capital. From 2014 continued his career as CEO of the Super TV cable television. Since 2014, until the present, he has been holding the position of the Non-Executive Vice President of GFTC (SWIFT Service Bureau).
In 2018 he became and till present is the Managing Partner at the RSM Georgia Management & Consulting.
On December 31st, 2018 George Glonti was appointed an Independent Member of the Supervisory Board of PASHA Bank Georgia. George Glonti has also been Chairman of Audit Committee since January 1st, 2019.

Ebru Ogan Knottnerus

Independent Member of PASHA Bank Supervisory Board

Ebru Ogan Knottnerus earned her bachelor’s degree in Business Administration at the Middle East Technical University (METU) in Ankara, Turkey. She also completed various executive education programs, such as: Authentic Leadership Development Programme at the Harvard Business School, Strategic Development Programme in London Business School and High Impact Leadership Programme at the Columbia University, USA.
Ebru Ogan Knottnerus started her banking career in 1991 in the Internal Audit Department of PAMUKBANK. Between years 1993-1997, she worked as Financial Control and Budget Planning Manager for FINANSBANK. She held Manager’s position in Foreign Investments Department for DEMIRBANK, during 1997-1999.
In 1999 Ebru Ogan Knottnerus joined OTTOMAN Bank and worked as Head of Risk Management and Internal Control Departments, until 2001. She continued her career at the BBVA Group - GARANTI Bank AŞ as Head of Subsidiaries’ Risk Management Department between 2001-2003 and from 2016 to 2018, she had been holding the position of the Head of Risk Management.
In 2018 Ebru Ogan Knottnerus joined PASHA Investment Bank Turkey as an Independent Board Member. She is a Member of Risk Management Committee and Chairwoman of Audit Committee.
On December 31st, 2018 Ebru Ogan Knottnerus was appointed an Independent Member of the Supervisory Board of PASHA Bank Georgia and since 1st of January 2019, she also has become the member of Audit Committee.
Effective from December 31, 2019 Mrs. Ebru Ogan Knottnerus is the Chairperson of the Risk Management Committee

Board of Directors

Nikoloz Shurgaia

CEO, Chairman of Board of Directors

Levan Aladashvili

Member of the Board of Directors, Chief Risk Officer

Selim Berent

Member of PASHA Bank Board of Directors, CFO


Nikoloz Shurgaia

CEO, Chairman of Board of Directors

Nikoloz Shurgaia received his Bachelor’s degree in Finance and Credit at Tbilisi State University. He also holds Master’s degree in Economics and MBA from London Business School in Business Administration.

Nikoloz started his career at Eximbank of Georgia (later United Georgian Bank) in 1994 where he held various positions until 2002. In 2004 he worked as an Assistant Vice-President for ABN AMRO BANK, in Moscow. After one year, Nikoloz was appointed as Principal Banker at EBRD’s Financial Institutions Group in London. In 2008-2009 Nikoloz held the position of General Director (CEO) at VTB Bank Georgia. In 2009-2011 he worked as an Executive Chairman of Belarusky Narodny Bank in Minsk and simultaneously held a position of Deputy CEO at Bank Of Georgia.

In 2012-2014 Nikoloz became Chairman of the Management Board (CEO) at Rabitabank, in Baku. From 2016 to 2020, he was Chairman of the Management Board (CEO) at Yelo Bank in Baku. Since 2011, Nikoloz has been an Independent Advisor in Azerbaijan, Belarus, Georgia, and Kazakhstan (Georgian Stock Exchange, PASHA Bank Georgia, Bank Moscow-Minsk, EvrotorgInvestBank, Caspian Financial Group).

On April 29, 2021, Nikoloz Shurgaia was appointed as CEO, Chairman of the Board of Directors of JSC PASHA Bank Georgia.

Levan Aladashvili

Member of the Board of Directors, Chief Risk Officer

Levan Aladashvili graduated from Tbilisi Technical University and obtained his Bachelor’s degree in Banking in 2005. He has participated in numerous professional training in the areas of risk assessment, risk management, and financial analysis.

He began his professional career at ProCredit Bank Georgia. Between the years 2006-2015, he worked for VTB Bank Georgia in Corporate Banking and Credit Risk Departments.  

From 2015 Levan Aladashvili continued his professional career as Head of Credit Risks Department at PASHA Bank Georgia. In 2019 Mr. Aladashvili was appointed on the position of Deputy Chief Risk Officer.

Since May 17, 2021, Levan Aladashvili holds the position of Chief Risk Officer and Member of the Board of Directors at JSC PASHA Bank Georgia.

Selim Berent

Member of PASHA Bank Board of Directors, CFO

Mr. Selim Berent graduated from Koc University, Istanbul, with the bachelor’s degree in Business Administration in 1998. He is also an alumnus of Robert College, Istanbul. 

Mr. Selim Berent started his career as the financial controller in Roche Diagnostics, Istanbul in 2003. He then, worked as consultant for PricewaterhouseCoopers, in Istanbul, advising reputable companies in finance function efficiency.

From November 2012, he proceeded his career as Chief Financial Officer of a gold mining company, AIMROC, in Baku.

He joined JSC PASHA Bank Georgia in April 2019 as Strategy Advisor to CEO. During his tenure with PASHA Bank Georgia as the adviser to CEO, Mr. Berent has effectively guided the Bank’s strategy function.

Mr. Berent was appointed by the Supervisory Board of JSC PASHA Bank Georgia as the Chief Financial Officer of the Bank effective from September 24, 2020. 

Committees

The Audit Committee is established with the purpose to assist the Supervisory Board and the Board of Directors in overseeing effectiveness and adequacy of the Bank's internal control and risk management systems, in the selection process of independent audit firms and in communication with them, and in monitoring whether the Bank’s activities are in compliance with the applicable legislative acts.

The Committee is accountable to the Supervisory Board.

The Audit Committee executes its activities within the framework of the Audit Committee Statute.

 

Committee Members

 

  • George Glonti - Chairman of Audit Committee
  • Shahin Mammadov - Member of Audit Committee
  • Ebru Ogan Knottnerus - Member of Audit Committee

 

Audit Committee Statute

The Risk Management Committee is established with the purpose to advise and assist the Supervisory Board in discharging its duties and responsibilities, to ensure the effectiveness of the processes and capabilities for identification, assessment, measurement, control, reporting and monitoring over risk.

The Committee is accountable to the Supervisory Board.

The Risk Management Committee executes its activities within the framework of the Risk Management Committee Statute.

 

Committee Members:

 

  • Ebru Ogan Knottnerus - Chairperson of Risk Management Committee
  • Farid Mammadov - Member of Risk Management Committee
  • George Glonti - Member of Risk Management Committee

 

Risk Management Committee Statute

Shareholders

JSC PASHA Bank Georgia is a wholly owned subsidiary of OJSC PASHA Bank (Azerbaijan).

Bank Policies

Corporate Governance

The Supervisory Board of JSC PASHA Bank adopted and approved the Corporate Governance Policy on March 7th, 2016. 
The policy is public and available to all stakeholders. It describes the Bank’s corporate governance structure and provides information about rights and responsibilities of the Bank’s different governing bodies.

Download the full version of the document

 

Code of Ethics

The Supervisory Board of JSC PASHA Bank adopted and approved the Code of Ethics on May 23rd, 2016. 
The code is public and available to all stakeholders. It is an integral part of the  Bank’s corporate governance policy and a set of ethical and moral principles described in the code represents acceptable business conduct for the Bank. 

Download the full version of the document 

 

 

Compliance Policy

The Supervisory Board of JSC PASHA Bank Georgia approved the Compliance Policy on October 9th, 2014. The policy is public and available to all stakeholders. It describes the compliance risks and principles.

Download the full version of the document

Organizational Chart

Please view our organizational chart in PDF format