Board Committees

The role of the committees is to support the Board in conducting its durties, providing professioanl recommendations based on thourough review of subject matters. Ameriabank currently has four fully-functioning Board level committees - Audit Committee, Risk Committee, Remuneration Committee and Corporate Governance and Nomination Committee, that enhance the efficiency of decision making process and help the Board to make informed decisions and save time for more strategic high-level issues.  
The role and functioning of the committees does not affect or reduce the authority or responsibility of the Board. Committees have advisory role and the final decisions are made and resolutions are approved at the Board level.

Committee responsibilities

The Audit Committee aims to oversee and increase the efficiency of financial reporting, external audit, risk management and internal compliance functions of the Bank. It analyzes and oversees:

  • Preparing and publishing of financial statements and other reports
  • Proper performance of the risk management, internal compliance and internal audit functions
  • Accounting policy of the Bank and its application
  • Efficiency of external audit and the Bank's relations with external auditors

     

    The Committee reports about the results of its activities to the Board of Directors on an annual basis, presenting the barriers to the efficient performance and proposing possible ways to improve efficiency.

Membership

  • The Committee shall consist of no less than three members. 
  • At least one of the members shall have accounting or audit qualifications or relevant expertise and knowledge in financial management.
  • The members and chairman of the Committee shall be appointed by the Board of Directors. The Chairman of the Committee may be elected from among independent members of the Board serving on the Committee.
  • While appointing the Committee members, the Board of Directors shall give preference to independent members of the Board, however this provision shall not restrict the Committee from engaging/electing non-independent members of the Board of Directors.
  • Members of the Committee shall be appointed for a term of three years which may be extended in the future.
  • Meetings are held as often as the Chairman of the Committee considers necessary subject to a minimum of four meetings annually. The Chairman of the Committee, the external auditor, Head of Internal Audit Service or the Board of Directors can request a meeting of the Committee if necessary.
  • All independent members of the Board of Directors who are not involved in the Committee, may attend the Committee meetings at their initiative.
  • The meetings of the Committee shall be attended by the secretary to the Committee whose responsibilities ex officio shall be performed by the secretary to the Board of Directors.
  • The Committee shall meet with the external auditor and the Head of Internal Audit Service respectively at least once a year without members of the executive body (Management Board) being present.   

     

  • Lindsay Forbes

    Lindsay Forbes

    Non-executive board member

    August 2018

Mr. Lindsay Forbes is Non-executive board member of Ameriabank since August, 2018

Skills and Experience: 

Mr. Forbes has over 35 years of experience commercial and investment banking, including more than 20 years with European Bank of Reconstruction and Development (EBRD).  
Joining EBRD in 1994, he worked as a Senior Banker/Country Director undertaking debt and equity transactions in Central and Eastern European countries. In 2000 he became director for Corporate Equity in 2000, focusing entirely on equity transactions in multiple countries, including Armenia. From 2012 till 2016 he was director for Industry, Commerce and Agribusiness in Russia, being responsible for new business origination, portfolio management, client relationships and team management of EBRD’s industrial activities in Russia. He has represented EBRD on the Boards and Audit Committees of numerous listed and unlisted corporates and Banks in a variety of countries, including in Croatia, Poland, Romania, Kazakhstan, Russia and Egypt. 

Before joining EBRD, Mr. Forbes spent 13 years with the British Linen Bank, the Investment Bank subsidiary of Bank of Scotland, specializing in commercial lending and private equity in various locations including the USA.

He qualified as a Solicitor with Norton Rose in 1978 and worked in Shipping Finance until 1980.

Education:

He has Degree in Jurisprudence from Oxford University (1975) and an MBA from INSEAD (1981).

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  • Andrew Mkrtchyan
    Andrew Mkrtchyan

  • Richard Ogdon
    Richard Ogdon

    Independent non-executive board member

    July 2020

  • Tigran Davtyan
    Tigran Davtyan

    Independent non-executive board member

    July 2020

Born on December 2, 1973 in Yerevan.

As a Founder and Executive Chairman, Mr. Mkrtchyan has been successfully managing Ameria Group for more than 25 years. He has extensive experience in investment banking and management advisory in Armenia, which has been the key to the successful growth and development of the Group. Andrew Mkrtchyan is the first businessman from Armenia to be a Founding Member of World Economic Forum New Champions Chapter. He is a Board Member to a number of private and public organizations.

Education:

Mr. Mkrtchyan graduated from Yerevan State University, Department of Economics. He received a scholarship from American Economic Association (AEA) for his scholar studies at Economics Institute, Colorado State University, as well as participated in a number of executive programs in different universities, including Kingston Business School, Harvard Business School, INSEAD and others.

 
 






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Mr. Ogdon is Independent non-executive board member  of Ameriabank since  July, 2020.

Skills and experience:

Richard  Ogdon has 30 years experience in the financial sector, with senior positions in investment banking, private equity, and fintech with a focus on the development of the Russian and CIS financial markets.
From 2012-2018 Mr. Ogdon served as an Independent Non Executive Director and Board Audit Committee Chair at the U.K.  FCA regulated Russian securities brokerage Sova (previously Otkritie) Capital.
In the 2000s Richard Ogdon worked in Moscow at Russia’s leading independent investment bank Troika Dialog as Head of Investment Banking (2003-2005) and then as Chief Risk and Capital Officer (2006-2011).  
Mr. Ogdon began his career at UBS Warburg in 1987 where he worked for 13 years until 2000 starting the bank’s business in Russia in 1992 and establishing the bank’s Moscow office in 1994.
Mr. Ogdon has  worked in education- at his alma mater Eton College in 2013 and at the Cambridge Careers Research Advisory Centre 2000-2003 -helping both organizations raise money for new educational projects.
Mr. Ogdon is a member of the supervisory board of the Russian Independent Directors Association and international goodwill ambassador of the Aurora Forum – a global humanitarian initiative.  

Education: 

Mr. Ogdon graduated from Lincoln College, Oxford University, Department of Classics and Modern Languages, BA (1984-1987).  
 
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Mr. Davtyan is Independent non-executive board member of Ameriabank since July, 2020.

Skills and experience: 

Tigran Davtyan has considerable executive experience in the Armenian financial sector and academic experience in the leading universities of Armenia. 

Mr. Davtyan held senior management positions at commercial banks of Armenia, acting as CEO, Chairman of Management Board at Inecobank CJSC (2018-2019) and CEO, Chairman of Management Board at Converse Bank CJSC (2009-2016). Prior to that, he was deputy CEO, Head of Financial markets department at Converse Bank (2008-2009). 
From 2016 to 2018 Mr. Davtyan was the Director of Financial policy department at Eurasian Economic Commission. 
Tigran Davtyan was the Team Leader of USAID/EMG Financial Sector Development Project in Armenia (2006-2008) and Team Leader of USAID/IBM BCS Capital Markets Development Program in Armenia (2002-2004). 

Mr. Davtyan was the Board Chairman of the Central Depository of Armenia in 1999-2002. Prior to that, he held the position of Advisor to Prime Minister of the RA, advising on financial markets (1998-1999). 
Mr. Davtyan started his career as a director of a boutique investment company in 1991, before moving to the Central Bank of Armenia where he held several positions from 1994 till 1998.

Mr. Davtyan has been a member of the Coordinating Council of the Financial and Banking Association of Euro-Asian Cooperation since 2016. 

From 2016 Tigran Davtyan is also a Member of the Board of Trustees of Insurance Foundation of Servicemen.

Education: 

Mr. Davtyan graduated from the Department of Economics of Yerevan State University with the qualification of Economist-Mathematician․   He holds PhD in economic sciences.
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  • Andrew Mkrtchyan
    Andrew Mkrtchyan

Born on December 2, 1973 in Yerevan.

As a Founder and Executive Chairman, Mr. Mkrtchyan has been successfully managing Ameria Group for more than 25 years. He has extensive experience in investment banking and management advisory in Armenia, which has been the key to the successful growth and development of the Group. Andrew Mkrtchyan is the first businessman from Armenia to be a Founding Member of World Economic Forum New Champions Chapter. He is a Board Member to a number of private and public organizations.

Education:

Mr. Mkrtchyan graduated from Yerevan State University, Department of Economics. He received a scholarship from American Economic Association (AEA) for his scholar studies at Economics Institute, Colorado State University, as well as participated in a number of executive programs in different universities, including Kingston Business School, Harvard Business School, INSEAD and others.

 
 






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  • Richard Ogdon
    Richard Ogdon

    Independent non-executive board member

    July 2020

Mr. Ogdon is Independent non-executive board member  of Ameriabank since  July, 2020.

Skills and experience:

Richard  Ogdon has 30 years experience in the financial sector, with senior positions in investment banking, private equity, and fintech with a focus on the development of the Russian and CIS financial markets.
From 2012-2018 Mr. Ogdon served as an Independent Non Executive Director and Board Audit Committee Chair at the U.K.  FCA regulated Russian securities brokerage Sova (previously Otkritie) Capital.
In the 2000s Richard Ogdon worked in Moscow at Russia’s leading independent investment bank Troika Dialog as Head of Investment Banking (2003-2005) and then as Chief Risk and Capital Officer (2006-2011).  
Mr. Ogdon began his career at UBS Warburg in 1987 where he worked for 13 years until 2000 starting the bank’s business in Russia in 1992 and establishing the bank’s Moscow office in 1994.
Mr. Ogdon has  worked in education- at his alma mater Eton College in 2013 and at the Cambridge Careers Research Advisory Centre 2000-2003 -helping both organizations raise money for new educational projects.
Mr. Ogdon is a member of the supervisory board of the Russian Independent Directors Association and international goodwill ambassador of the Aurora Forum – a global humanitarian initiative.  

Education: 

Mr. Ogdon graduated from Lincoln College, Oxford University, Department of Classics and Modern Languages, BA (1984-1987).  
 
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  • Tigran Davtyan
    Tigran Davtyan

    Independent non-executive board member

    July 2020

Mr. Davtyan is Independent non-executive board member of Ameriabank since July, 2020.

Skills and experience: 

Tigran Davtyan has considerable executive experience in the Armenian financial sector and academic experience in the leading universities of Armenia. 

Mr. Davtyan held senior management positions at commercial banks of Armenia, acting as CEO, Chairman of Management Board at Inecobank CJSC (2018-2019) and CEO, Chairman of Management Board at Converse Bank CJSC (2009-2016). Prior to that, he was deputy CEO, Head of Financial markets department at Converse Bank (2008-2009). 
From 2016 to 2018 Mr. Davtyan was the Director of Financial policy department at Eurasian Economic Commission. 
Tigran Davtyan was the Team Leader of USAID/EMG Financial Sector Development Project in Armenia (2006-2008) and Team Leader of USAID/IBM BCS Capital Markets Development Program in Armenia (2002-2004). 

Mr. Davtyan was the Board Chairman of the Central Depository of Armenia in 1999-2002. Prior to that, he held the position of Advisor to Prime Minister of the RA, advising on financial markets (1998-1999). 
Mr. Davtyan started his career as a director of a boutique investment company in 1991, before moving to the Central Bank of Armenia where he held several positions from 1994 till 1998.

Mr. Davtyan has been a member of the Coordinating Council of the Financial and Banking Association of Euro-Asian Cooperation since 2016. 

From 2016 Tigran Davtyan is also a Member of the Board of Trustees of Insurance Foundation of Servicemen.

Education: 

Mr. Davtyan graduated from the Department of Economics of Yerevan State University with the qualification of Economist-Mathematician․   He holds PhD in economic sciences.
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Committee responsibilities

The primary purpose of the Committee is to improve the regulation of the remuneration framework in the Bank, including improvement and control of remuneration policy and remuneration system, effective enforcement of their essential requirements and exclusion of abuse. The Committee assists the Board of Directors in:

  • developing and maintaining effective remuneration system in the Bank, creating respective patterns and principles of the remuneration policy;
  • ensuring assessment of the quality demonstrated during application of the remuneration system and policy provisions in the Bank, as well as monitoring of application of the applicable remuneration practices;
  • applying reporting practices with respect to remuneration;
  • attracting and retaining the best qualified and high-caliber directors, executives, material risk takers and other key employees while monitoring remuneration-related risks and eliminating any possibility of abuse;
  • making decisions on the terms and conditions of remuneration defined for individual positions;
  • implementing long-term incentive plans and other motivational schemes.

     

    The Committee reports about the results of its activities to the Board of Directors on an annual basis, presenting the barriers to the efficient performance, if required, or proposing possible ways to improve efficiency.

Membership

  • The Committee shall consist of no less than three members. 
  • The members and chairman of the Committee shall be appointed by the Board of Directors.
  • While appointing the Committee members, the Board of Directors shall give preference to independent members of the Board, however this provision shall not restrict the Committee from engaging/electing non-independent members of the Board of Directors.
  • Members of the Committee shall be appointed for a term of three years which may be extended in the future.
  • Meetings are held as often as the Chairman of the Committee considers necessary subject to a minimum of two meetings annually. The Chairman of the Committee or the Board of Directors can request a meeting of the Committee if necessary.
  • All independent members of the Board of Directors who are not involved in the Committee, may attend the Committee meetings at their initiative.
  • The meetings of the Committee shall be attended by the secretary to the Committee whose responsibilities ex officio shall be performed by the secretary to the Board of Directors.

  • Robert von Rekowsky

    Robert von Rekowsky

    Independent non-executive board member

    September 2012

Mr. von Rekowsky was appointed Independent non-executive board member on October, 2012.

Skills and Experience:

Mr. von Rekowsky has around 30 years of experience in global asset management.  He was a vice-president at Emerging Markets Strategy and portfolio manager for Fidelity Investments. He’s been managing several institutional and retail emerging market equity funds for U.S. and Canadian investors.

Mr. von Rekowsky joined Fidelity’s fixed-income division in 1989. In 1995, he moved along with the emerging markets debt group into the company’s high-income division as a sovereign debt analyst. He continued in that role while working from Fidelity’s London office (1996 - mid-1998), when he moved into European equity research. From 2002 to 2004, Mr. von Rekowsky was an associate fund manager for the emerging markets funds, responsible for the EMEA region. In 2004, he relocated to Boston to assume responsibility for Fidelity’s global emerging market equity funds.

Education: 

He received a BA from the University of New York at Albany (SUNY) and an MA from Northeastern University. He received an MSc in Finance from Brandeis University.

 
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  • Philip Lynch
    Philip Lynch

    Independent non-executive board member

    September 2018

  • Kakhaber Kiknavelidze
    Kakhaber Kiknavelidze

    Independent non-executive board member

    July 2020

Mr. Lynch is Independent non-executive board member of Ameriabank since September, 2018.

Skills and Experience: 

Mr. Lynch has more than 30 years of experience in finance, including more than 20 years with Lehman Brothers. Starting his career as an analyst, he later moved to senior operating positions at Lehman Brothers - Co-head of Asia Pacific Investment Banking (1999-2002), Head of European Financing (2003-2006) and Co-head of European Equities (2007-2008).

After the sale of Lehman Brothers’ European, Middle East and Asian businesses to Nomura, Mr. Lynch became the CEO of Middle East and Africa (2008-2009), later becoming the CEO Asia Pacific and Middle East (2010-2012) at Nomura.

Since 2013 Mr. Lynch has been the founding Partner of Stem Capital Partners - an independent direct investment (PE) business focusing on financial services in Southeast Asia.

Education:

Mr. Lynch earned his Bachelor Degree in History at Yale University (USA) in 1987.

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Mr. Kiknavelidze is Independent non-executive board member of Ameriabank since  July, 2020.

Skills and experience: 

Mr. Kiknavelidze has more than 25 years of experience in commercial and investment banking. He has been the CEO of Bank of Georgia Group, the leading financial institution in Georgia, from 2016 till 2019, and Advisor to the CEO and the board on strategic and operational issues from 2019 to February, 2020. 

Prior to that, Mr Kiknavelidze served as an Independent Non-Executive Director and member of Audit and Risk Committees of BGEO Group from 2008 to 2016. 

Mr. Kiknavelidze was Managing Partner, Chief Investment Officer of Rioni Capital Partners, a UK based investment management company from 2007 to 2016.

Mr. Kiknavelidze has extensive experience in the equity markets, including serving as an Executive Director of UBS, where he supervised the Russian oil and gas research team from 2005 to 2007. Prior to joining UBS, he spent eight years at Troika Dialog, initially covering metals and mining and the utilities sectors and, later, as Deputy Head of Research and Associate Partner, leading the oil and gas team. Prior to that he served as Investment Associate at Legacy Investment Group, a US based investment company. 

Mr. Kiknavelidze began his career at the Bank of Georgia as a Financial Manager in 1994.

Education 

Mr. Kiknavelidze received his undergraduate degree (BA) in Economics from the Georgian Agrarian University (Tbilisi, Georgia) and MBA from Emory University (Georgia, USA).
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  • Philip Lynch
    Philip Lynch

    Independent non-executive board member

    September 2018

Mr. Lynch is Independent non-executive board member of Ameriabank since September, 2018.

Skills and Experience: 

Mr. Lynch has more than 30 years of experience in finance, including more than 20 years with Lehman Brothers. Starting his career as an analyst, he later moved to senior operating positions at Lehman Brothers - Co-head of Asia Pacific Investment Banking (1999-2002), Head of European Financing (2003-2006) and Co-head of European Equities (2007-2008).

After the sale of Lehman Brothers’ European, Middle East and Asian businesses to Nomura, Mr. Lynch became the CEO of Middle East and Africa (2008-2009), later becoming the CEO Asia Pacific and Middle East (2010-2012) at Nomura.

Since 2013 Mr. Lynch has been the founding Partner of Stem Capital Partners - an independent direct investment (PE) business focusing on financial services in Southeast Asia.

Education:

Mr. Lynch earned his Bachelor Degree in History at Yale University (USA) in 1987.

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  • Kakhaber Kiknavelidze
    Kakhaber Kiknavelidze

    Independent non-executive board member

    July 2020

Mr. Kiknavelidze is Independent non-executive board member of Ameriabank since  July, 2020.

Skills and experience: 

Mr. Kiknavelidze has more than 25 years of experience in commercial and investment banking. He has been the CEO of Bank of Georgia Group, the leading financial institution in Georgia, from 2016 till 2019, and Advisor to the CEO and the board on strategic and operational issues from 2019 to February, 2020. 

Prior to that, Mr Kiknavelidze served as an Independent Non-Executive Director and member of Audit and Risk Committees of BGEO Group from 2008 to 2016. 

Mr. Kiknavelidze was Managing Partner, Chief Investment Officer of Rioni Capital Partners, a UK based investment management company from 2007 to 2016.

Mr. Kiknavelidze has extensive experience in the equity markets, including serving as an Executive Director of UBS, where he supervised the Russian oil and gas research team from 2005 to 2007. Prior to joining UBS, he spent eight years at Troika Dialog, initially covering metals and mining and the utilities sectors and, later, as Deputy Head of Research and Associate Partner, leading the oil and gas team. Prior to that he served as Investment Associate at Legacy Investment Group, a US based investment company. 

Mr. Kiknavelidze began his career at the Bank of Georgia as a Financial Manager in 1994.

Education 

Mr. Kiknavelidze received his undergraduate degree (BA) in Economics from the Georgian Agrarian University (Tbilisi, Georgia) and MBA from Emory University (Georgia, USA).
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Committee responsibilities

The main purpose of the Committee is to create a solid pool of highly experienced and competent candidates with relevant skills and integrity to be engaged on the Board of Directors, its Committees, Management Board, Internal Audit function and/or material risk taking units/bodies, as it may be required, ensure succession planning and workforce optimization, as well as implementation of corporate governance principles and structure in line with the legislative regulations on the corporate governance and best practice and their improvement. The Committee is set to:

  • coordinate/ensure optimal composition, size, selection and appointment of the Board of Directors, its Committees, Management Board, Internal Audit function and material risk taking bodies/units of the Bank;
  • set eligibility criteria for appointment of the members of the Board of Directors, its Committees, Management Board, Internal Audit function and material risk taking bodies/units of the Bank in line with their roles and scope of responsibilities;
  • ensure continuity and smooth succession planning for the Board of Directors, its Committees, Management Board, Internal Audit function and material risk taking bodies/units of the Bank.

The Committee reports about the results of its activities to the Board of Directors on an annual basis, presenting the barriers to the efficient performance, if required, or proposing possible ways to improve efficiency.

Membership

  • The Committee shall consist of no less than three members where the actual number of members may vary subject to the requirement specified in this clause.
  • The members and chairman of the Committee shall be appointed by the Board of Directors.
  • While appointing the Committee members, the Board of Directors shall give preference to independent members of the Board, however this provision shall not restrict the Committee from engaging/electing non-independent members of the Board of Directors.
  • Members of the Committee shall be appointed for a term of three years which may be extended in the future.
  • All independent members of the Board of Directors who are not involved in the Committee, may attend the Committee meetings at their initiative.
  • The meetings of the Committee shall be attended by the secretary to the Committee whose responsibilities ex officio shall be performed by the secretary to the Board of Directors.
  • Meetings are held as often as the Chairman of the Committee considers necessary subject to a minimum of one meeting annually. Whenever required, meeting of the Committee may be called upon request of the Chairman of the Committee or the Board of Directors.

  • Kakhaber Kiknavelidze

    Kakhaber Kiknavelidze

    Independent non-executive board member

    July 2020

Mr. Kiknavelidze is Independent non-executive board member of Ameriabank since  July, 2020.

Skills and experience: 

Mr. Kiknavelidze has more than 25 years of experience in commercial and investment banking. He has been the CEO of Bank of Georgia Group, the leading financial institution in Georgia, from 2016 till 2019, and Advisor to the CEO and the board on strategic and operational issues from 2019 to February, 2020. 

Prior to that, Mr Kiknavelidze served as an Independent Non-Executive Director and member of Audit and Risk Committees of BGEO Group from 2008 to 2016. 

Mr. Kiknavelidze was Managing Partner, Chief Investment Officer of Rioni Capital Partners, a UK based investment management company from 2007 to 2016.

Mr. Kiknavelidze has extensive experience in the equity markets, including serving as an Executive Director of UBS, where he supervised the Russian oil and gas research team from 2005 to 2007. Prior to joining UBS, he spent eight years at Troika Dialog, initially covering metals and mining and the utilities sectors and, later, as Deputy Head of Research and Associate Partner, leading the oil and gas team. Prior to that he served as Investment Associate at Legacy Investment Group, a US based investment company. 

Mr. Kiknavelidze began his career at the Bank of Georgia as a Financial Manager in 1994.

Education 

Mr. Kiknavelidze received his undergraduate degree (BA) in Economics from the Georgian Agrarian University (Tbilisi, Georgia) and MBA from Emory University (Georgia, USA).
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  • Robert von Rekowsky
    Robert von Rekowsky

    Independent non-executive board member

    September 2012

  • Philip Lynch
    Philip Lynch

    Independent non-executive board member

    September 2018

Mr. von Rekowsky was appointed Independent non-executive board member on October, 2012.

Skills and Experience:

Mr. von Rekowsky has around 30 years of experience in global asset management.  He was a vice-president at Emerging Markets Strategy and portfolio manager for Fidelity Investments. He’s been managing several institutional and retail emerging market equity funds for U.S. and Canadian investors.

Mr. von Rekowsky joined Fidelity’s fixed-income division in 1989. In 1995, he moved along with the emerging markets debt group into the company’s high-income division as a sovereign debt analyst. He continued in that role while working from Fidelity’s London office (1996 - mid-1998), when he moved into European equity research. From 2002 to 2004, Mr. von Rekowsky was an associate fund manager for the emerging markets funds, responsible for the EMEA region. In 2004, he relocated to Boston to assume responsibility for Fidelity’s global emerging market equity funds.

Education: 

He received a BA from the University of New York at Albany (SUNY) and an MA from Northeastern University. He received an MSc in Finance from Brandeis University.

 
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Mr. Lynch is Independent non-executive board member of Ameriabank since September, 2018.

Skills and Experience: 

Mr. Lynch has more than 30 years of experience in finance, including more than 20 years with Lehman Brothers. Starting his career as an analyst, he later moved to senior operating positions at Lehman Brothers - Co-head of Asia Pacific Investment Banking (1999-2002), Head of European Financing (2003-2006) and Co-head of European Equities (2007-2008).

After the sale of Lehman Brothers’ European, Middle East and Asian businesses to Nomura, Mr. Lynch became the CEO of Middle East and Africa (2008-2009), later becoming the CEO Asia Pacific and Middle East (2010-2012) at Nomura.

Since 2013 Mr. Lynch has been the founding Partner of Stem Capital Partners - an independent direct investment (PE) business focusing on financial services in Southeast Asia.

Education:

Mr. Lynch earned his Bachelor Degree in History at Yale University (USA) in 1987.

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  • Robert von Rekowsky
    Robert von Rekowsky

    Independent non-executive board member

    September 2012

Mr. von Rekowsky was appointed Independent non-executive board member on October, 2012.

Skills and Experience:

Mr. von Rekowsky has around 30 years of experience in global asset management.  He was a vice-president at Emerging Markets Strategy and portfolio manager for Fidelity Investments. He’s been managing several institutional and retail emerging market equity funds for U.S. and Canadian investors.

Mr. von Rekowsky joined Fidelity’s fixed-income division in 1989. In 1995, he moved along with the emerging markets debt group into the company’s high-income division as a sovereign debt analyst. He continued in that role while working from Fidelity’s London office (1996 - mid-1998), when he moved into European equity research. From 2002 to 2004, Mr. von Rekowsky was an associate fund manager for the emerging markets funds, responsible for the EMEA region. In 2004, he relocated to Boston to assume responsibility for Fidelity’s global emerging market equity funds.

Education: 

He received a BA from the University of New York at Albany (SUNY) and an MA from Northeastern University. He received an MSc in Finance from Brandeis University.

 
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  • Philip Lynch
    Philip Lynch

    Independent non-executive board member

    September 2018

Mr. Lynch is Independent non-executive board member of Ameriabank since September, 2018.

Skills and Experience: 

Mr. Lynch has more than 30 years of experience in finance, including more than 20 years with Lehman Brothers. Starting his career as an analyst, he later moved to senior operating positions at Lehman Brothers - Co-head of Asia Pacific Investment Banking (1999-2002), Head of European Financing (2003-2006) and Co-head of European Equities (2007-2008).

After the sale of Lehman Brothers’ European, Middle East and Asian businesses to Nomura, Mr. Lynch became the CEO of Middle East and Africa (2008-2009), later becoming the CEO Asia Pacific and Middle East (2010-2012) at Nomura.

Since 2013 Mr. Lynch has been the founding Partner of Stem Capital Partners - an independent direct investment (PE) business focusing on financial services in Southeast Asia.

Education:

Mr. Lynch earned his Bachelor Degree in History at Yale University (USA) in 1987.

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Committee responsibilities

The purpose of the Risk Committee is to assist and advise the Board of Directors while performing oversight functions in the following areas:  

  • the Bank’s risk management system and culture, integration thereof into the overall management system;  
  • the Bank’s policies and other internal acts on management/assessment of credit, market, operational, strategic, liquidity, and other significant risks, as well as application of those policies and acts;
  • the Bank’s risk exposure/risk position, risk factors;
  • capital adequacy and liquidity ratios of the Bank. 

The Committee reports about the results of its activities to the Board of Directors on an annual basis, presenting the barriers to the efficient performance and proposing possible ways to improve efficiency.

Membership

  • The Committee shall consist of no less than three members, with the majority of the members serving as independent members of the Board of Directors. One of the members shall be a member of the Audit Committee as well. 
  • The members of the Committee shall be appointed by the Board of Directors. 
  • The Chairman of the Committee shall be elected from the Committee members, by decision of the Board of Directors. The Chairman of the Committee shall be an independent member of the Board of Directors. 

  • Richard Ogdon

    Richard Ogdon

    Independent non-executive board member

    July 2020

Mr. Ogdon is Independent non-executive board member  of Ameriabank since  July, 2020.

Skills and experience:

Richard  Ogdon has 30 years experience in the financial sector, with senior positions in investment banking, private equity, and fintech with a focus on the development of the Russian and CIS financial markets.
From 2012-2018 Mr. Ogdon served as an Independent Non Executive Director and Board Audit Committee Chair at the U.K.  FCA regulated Russian securities brokerage Sova (previously Otkritie) Capital.
In the 2000s Richard Ogdon worked in Moscow at Russia’s leading independent investment bank Troika Dialog as Head of Investment Banking (2003-2005) and then as Chief Risk and Capital Officer (2006-2011).  
Mr. Ogdon began his career at UBS Warburg in 1987 where he worked for 13 years until 2000 starting the bank’s business in Russia in 1992 and establishing the bank’s Moscow office in 1994.
Mr. Ogdon has  worked in education- at his alma mater Eton College in 2013 and at the Cambridge Careers Research Advisory Centre 2000-2003 -helping both organizations raise money for new educational projects.
Mr. Ogdon is a member of the supervisory board of the Russian Independent Directors Association and international goodwill ambassador of the Aurora Forum – a global humanitarian initiative.  

Education: 

Mr. Ogdon graduated from Lincoln College, Oxford University, Department of Classics and Modern Languages, BA (1984-1987).  
 
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  • Lindsay Forbes
    Lindsay Forbes

    Non-executive board member

    August 2018

  • Tigran Davtyan
    Tigran Davtyan

    Independent non-executive board member

    July 2020

Mr. Lindsay Forbes is Non-executive board member of Ameriabank since August, 2018

Skills and Experience: 

Mr. Forbes has over 35 years of experience commercial and investment banking, including more than 20 years with European Bank of Reconstruction and Development (EBRD).  
Joining EBRD in 1994, he worked as a Senior Banker/Country Director undertaking debt and equity transactions in Central and Eastern European countries. In 2000 he became director for Corporate Equity in 2000, focusing entirely on equity transactions in multiple countries, including Armenia. From 2012 till 2016 he was director for Industry, Commerce and Agribusiness in Russia, being responsible for new business origination, portfolio management, client relationships and team management of EBRD’s industrial activities in Russia. He has represented EBRD on the Boards and Audit Committees of numerous listed and unlisted corporates and Banks in a variety of countries, including in Croatia, Poland, Romania, Kazakhstan, Russia and Egypt. 

Before joining EBRD, Mr. Forbes spent 13 years with the British Linen Bank, the Investment Bank subsidiary of Bank of Scotland, specializing in commercial lending and private equity in various locations including the USA.

He qualified as a Solicitor with Norton Rose in 1978 and worked in Shipping Finance until 1980.

Education:

He has Degree in Jurisprudence from Oxford University (1975) and an MBA from INSEAD (1981).

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Mr. Davtyan is Independent non-executive board member of Ameriabank since July, 2020.

Skills and experience: 

Tigran Davtyan has considerable executive experience in the Armenian financial sector and academic experience in the leading universities of Armenia. 

Mr. Davtyan held senior management positions at commercial banks of Armenia, acting as CEO, Chairman of Management Board at Inecobank CJSC (2018-2019) and CEO, Chairman of Management Board at Converse Bank CJSC (2009-2016). Prior to that, he was deputy CEO, Head of Financial markets department at Converse Bank (2008-2009). 
From 2016 to 2018 Mr. Davtyan was the Director of Financial policy department at Eurasian Economic Commission. 
Tigran Davtyan was the Team Leader of USAID/EMG Financial Sector Development Project in Armenia (2006-2008) and Team Leader of USAID/IBM BCS Capital Markets Development Program in Armenia (2002-2004). 

Mr. Davtyan was the Board Chairman of the Central Depository of Armenia in 1999-2002. Prior to that, he held the position of Advisor to Prime Minister of the RA, advising on financial markets (1998-1999). 
Mr. Davtyan started his career as a director of a boutique investment company in 1991, before moving to the Central Bank of Armenia where he held several positions from 1994 till 1998.

Mr. Davtyan has been a member of the Coordinating Council of the Financial and Banking Association of Euro-Asian Cooperation since 2016. 

From 2016 Tigran Davtyan is also a Member of the Board of Trustees of Insurance Foundation of Servicemen.

Education: 

Mr. Davtyan graduated from the Department of Economics of Yerevan State University with the qualification of Economist-Mathematician․   He holds PhD in economic sciences.
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  • Lindsay Forbes
    Lindsay Forbes

    Non-executive board member

    August 2018

Mr. Lindsay Forbes is Non-executive board member of Ameriabank since August, 2018

Skills and Experience: 

Mr. Forbes has over 35 years of experience commercial and investment banking, including more than 20 years with European Bank of Reconstruction and Development (EBRD).  
Joining EBRD in 1994, he worked as a Senior Banker/Country Director undertaking debt and equity transactions in Central and Eastern European countries. In 2000 he became director for Corporate Equity in 2000, focusing entirely on equity transactions in multiple countries, including Armenia. From 2012 till 2016 he was director for Industry, Commerce and Agribusiness in Russia, being responsible for new business origination, portfolio management, client relationships and team management of EBRD’s industrial activities in Russia. He has represented EBRD on the Boards and Audit Committees of numerous listed and unlisted corporates and Banks in a variety of countries, including in Croatia, Poland, Romania, Kazakhstan, Russia and Egypt. 

Before joining EBRD, Mr. Forbes spent 13 years with the British Linen Bank, the Investment Bank subsidiary of Bank of Scotland, specializing in commercial lending and private equity in various locations including the USA.

He qualified as a Solicitor with Norton Rose in 1978 and worked in Shipping Finance until 1980.

Education:

He has Degree in Jurisprudence from Oxford University (1975) and an MBA from INSEAD (1981).

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  • Tigran Davtyan
    Tigran Davtyan

    Independent non-executive board member

    July 2020

Mr. Davtyan is Independent non-executive board member of Ameriabank since July, 2020.

Skills and experience: 

Tigran Davtyan has considerable executive experience in the Armenian financial sector and academic experience in the leading universities of Armenia. 

Mr. Davtyan held senior management positions at commercial banks of Armenia, acting as CEO, Chairman of Management Board at Inecobank CJSC (2018-2019) and CEO, Chairman of Management Board at Converse Bank CJSC (2009-2016). Prior to that, he was deputy CEO, Head of Financial markets department at Converse Bank (2008-2009). 
From 2016 to 2018 Mr. Davtyan was the Director of Financial policy department at Eurasian Economic Commission. 
Tigran Davtyan was the Team Leader of USAID/EMG Financial Sector Development Project in Armenia (2006-2008) and Team Leader of USAID/IBM BCS Capital Markets Development Program in Armenia (2002-2004). 

Mr. Davtyan was the Board Chairman of the Central Depository of Armenia in 1999-2002. Prior to that, he held the position of Advisor to Prime Minister of the RA, advising on financial markets (1998-1999). 
Mr. Davtyan started his career as a director of a boutique investment company in 1991, before moving to the Central Bank of Armenia where he held several positions from 1994 till 1998.

Mr. Davtyan has been a member of the Coordinating Council of the Financial and Banking Association of Euro-Asian Cooperation since 2016. 

From 2016 Tigran Davtyan is also a Member of the Board of Trustees of Insurance Foundation of Servicemen.

Education: 

Mr. Davtyan graduated from the Department of Economics of Yerevan State University with the qualification of Economist-Mathematician․   He holds PhD in economic sciences.
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