Tashkent stock exchange hired Giorgi Paresishvili for the role of chairman, the company reported.
Giorgi Paresishvili had served as the head of the Georgian Stock Exchange since 2014, concurrently being the chairman of the Supervisory Board of the Georgian Central Securities Depository.
His main duties will be the integration of the local stock market into the international infrastructure of the capital market, as well as assistance in conducting IPOs and SPOs of domestic joint-stock companies. The tasks of the new chairman also include: improving work efficiency, making recommendations to the listing and trading rules based on international best practices, increasing the number of companies included in the listing, working closely with relevant market participants to improve the IT complex and other infrastructure in general.
Giorgi Paresishvili has 27 years of experience in banking and capital markets. He graduated from Tbilisi State University with a degree in Economics in 1995. He began his career at Absolut Bank in Tbilisi. From 2000-2002, he attended the Stephen Ross School of Business at the University of Michigan and received a Master of Business Administration (MBA) degree. In 2000-2005, he worked in London and New York at Credit Suisse First Boston, a division of the investment bank of Credit Suisse, the largest Swiss financial conglomerate.
Since 2005, Giorgi Paresishvili has held senior positions in leading Georgian banks such as Bank Republic (Societe Generale Group) Liberty Bank, Bank of Georgia and others, and also worked as a managing director of the Georgian investment bank Galt and Taggart Securities.
The Georgian Stock Exchange (GSE) is the only securities market in Georgia, which unites 23 companies. Their total capitalization is more than $0.7 billion.
At the same time, GSE closed June without a single financial transaction, that is, the turnover on the stock exchange in that month topped 0 lari.