Two chairs for just one man
Director of Armenian ECLOF joins board of Armenian Development Bank
Tigran Hovhannisyan (left) with Tigran Sarkissyan, president of the Central Bank of Armenia .
Tigran Hovhannisyan, the director of Armenian ECLOF, has been elected as one of the two vice-presidents of the board of directors of the Armenian Development Bank (ADB). The election, which took place last May, was with the prior approval of the president of the Central Bank of the Republic of Armenia .
The story all began when, as a long-standing client of the ADB, Tigran was offered the chance to become a shareholder. Because of his prior experience and current activity with ECLOF, which is directly in line with the Development Bank's business, he was then asked to stand for election to higher level positions within the ADB. At first, Tigran refused because he felt his work for ECLOF took up all of his time. However, after giving it further thought, he saw how complementary and mutually enhancing both positions were, and he accepted the challenge.
ADB is one of the first commercial banks in the Republic of Armenia . It was established in November 1990, and has a licence for carrying out activities of all kinds in both national and foreign currencies.
In his new role, Tigran supervises all the committees created by the ADB's board of directors. He explained to New Horizons how instrumental his experience with ECLOF had been in helping him decide to accept his new position. The “ECLOF school”, he said, not only strengthened him, but also strengthened all Armenian ECLOF staff and board members. “Working for ECLOF is seen as challenging and requires hard work, faith and commitment, but the lessons learned and the tangible results obtained from the consistent reappraisal of methods, strategies and institutional structure make overcoming difficulties a pleasurable challenge. The ' ECLOF School ' is valued not only by current members of staff but also by former staff members, who all talk with pride about their work with the organization”.
