Our management

Grigor Hovhannisyan

Chairman of the Board of Directors

Grigor Hovhannissian

Chairman of the Board of Directors | ARARATBANK OJSC

Grigor Hovhannissian has served as Chairman of the Board of Directors of ARARATBANK since May 2020. A senior diplomat, international executive and governance professional, he brings more than three decades of experience in strategic leadership, international negotiations, institutional management and crisis resolution across government and multilateral organizations.

As Chairman, Mr. Hovhannissian leads the Bank's non-executive supervisory body, with a focus on sound corporate governance, strategic oversight, prudent risk management and sustainable long-term growth. He also chairs the Board's Corporate Governance Committee and serves on its Audit and Risk Management Committees.

Prior to joining ARARATBANK, Mr. Hovhannissian held senior positions in the Government of Armenia, including Deputy Minister of Foreign Affairs (2018–2020) and Ambassador Extraordinary and Plenipotentiary to the United States (2016–2018), Mexico (2013–2016), and several Central American and Caribbean countries. Earlier, he served as Consul General of Armenia in Los Angeles.

His international career includes more than a decade of service with the United Nations in senior advisory, coordination and crisis-management capacities. His assignments spanned the Middle East, Central Africa and the African Great Lakes region, encompassing complex political negotiations, humanitarian emergencies, institutional coordination and operations in challenging environments.

Mr. Hovhannissian holds a master's degree from The Fletcher School of Law and Diplomacy at Tufts University, with academic training in international finance, economics and international affairs. He has also undertaken executive education in corporate governance and risk management at Harvard Business School and Frankfurt School of Finance & Management. His academic background further includes studies at Haigazian University in Beirut and Yerevan State University.

Mr. Hovhannissian holds the diplomatic rank of Ambassador Extraordinary and Plenipotentiary and speaks English, Russian, Arabic, French and Spanish.

Narek Beglaryan

Board Member

Nomination and Remuneration Board Committee Chairman, Digital Transformation Board Committee Member, Risk Management Board Committee Member.

Date of birth: August 24, 1982

Place of birth: Republic of Armenia

Education

2006-2009 | Master of Public Administration | Public Administration Academy of the Republic of Armenia
1999-2004 | Bachelor of Global Economics | Armenian State University of Economics

Military service:

2004-2006 Lieutenant of the RA Armed Forces

Professional experience

2023- present| General Director | HIMQ Foundation
2020 – present | Executive Director | BB CAPITAL LLC
2018 – present | Board Member | ARARATBANK OJSC
2009-2022 | Deputy Director for Administration | Flash Trade LLC
2007-2021 | Executive Director | Flash Tour LLC
2000-2004 | Deputy Director for Regional Branch Development | Arzni Poultry Farm

Languages

Armenian - native
English - intermediate
Russian - intermediate

Awards and Certificates

2011 | Marketing 3.0 Values-Driven Marketing seminar | Organized by Dr. Philip Kotler

Marital Status

Married, 4 children

Karen Babajanyan

Board Member

Nomination and Remuneration Board Committee Member.

Professional experince

2024 to present: Founder and CEO of Jinj Company

April 2020 to present: Board member at ARARATBANK OJSC

2014-2024: Cofounder and brand Director in Braind company

2012-2014: Armenian State University of Economics Marketing and Career Centre Head of Division

2010 - 2017: Armenian State University of Economics Department of Marketing

2008-2009: Participation in AC Nielsen international marketing research company projects

2007-2008: Brand specialist in Antares Holding

Formal education

2002-2007: Armenian State University of Economics Department of Marketing and Business Organization

2007-2010: Armenian State University of Economics PhD in the Department of Macroeconomics Dissertation topic: “The Main Issues of Branding Policy'' A number of scientific articles on branding have been published.

2010:PhD Degree in Economics, issued by the Decision of Professional Board of Armenian State University of Economics․

Marital status: Married, 2 daughters

Armen Harutyunyan

Board Member

Digital Transformation Board Committee Chairman, Nomination and Remuneration Board Committee Member, Corporate Governance Board Committee Member, Board Audit Committee Member.

Date of birth: September 9, 1981

Place of birth: Republic of Armenia

Education

2010-2012 | Master of International Development | University of Bristol
2006-2009 | Master of Public Administration | Public Administration Academy of the Republic of Armenia
2000-2002 | Finance and Management | Agribusiness Teaching Center (ATC) of Armenian National Agrarian University and Texas A&M University

Professional experience

November 2020 – present | Board Member | Global FinTech Institute
January 2021 – present | Director of Eurasian Economic Commission Department of Agro-Industrial Policy
October 2020 – present | Blockchain and Fintech Academic Council Member | Singapore University of Social Sciences (SUSS)
December 2019 – January 2020 | Senior Advisor to the Director | Global Center for Technology, Innovation and Sustainable Development in Singapore
April 2019 – December 2019 | Acting Chief of Staff, Partnership and International Finance Officer | United Nations
August 2018 – August 2021 | Chairman of Board of Trustees | Armenian National Agrarian University
November 2018 – March 2019 | Behavioral Economist | United Nations Development Programme (UNDP)
August 2018 – November 2018 | Senior Economist, Team Leader | United Nations Development Programme (UNDP)
October 2013 – August 2018 | Deputy Minister | RA Ministry of Agriculture
October 2012 – October 2013 | Adviser to the Minister | RA Ministry of Agriculture
November 2011 – August 2012 | Head of Marketing and International Relations Department | Armenian Harvest Promotion Center | Economist, Marketing Consultant | Center for Agribusiness and Rural Development
January 2010 – August 2010 | Akhalkalaki Branch Coordinator | Rural Development of United States Department of Agriculture (USDA) and Georgian Institute of Public Affairs (GIPA)
March 2004 – August 2004 | Business Plan Development and Finance Consultant | USDA Marketing Assistance Program (MAP)

Teaching experience

January 2017 – January 2019 | Lecturer | Behavioral Economics | Executive MBA, YSMU
August 2016 – December 2017 | Lecturer | American University of Armenia (AUA)
September 2016 – March 2018 | Lecturer | Project Management | Agribusiness Teaching Center (ATC) of Armenian National Agrarian University

Education programs

Stanford University, Innovation and Leadership in an Era of Change and Uncertainty, 2018
Finnish Innovation Fund, Sitra, Impact Investment, 2018
Harvard Kennedy School of Government, Cutting Edge Development, for Executive Leadership Development, 2016
French Ministry of Foreign Affairs and International Development, HLP Personalities of Future, 2015
London School of Public Relations, Thesis Topic: Integrated Approach on Public Relations, 2009
University of California, Davis, OIV Marketing Course, 2008

Languages

Fluency in Armenian, English, Russian

Awards and Prizes

Eurasian Economic Union (EEU), Order for Contribution to the Establishment of the Eurasian Economic Union;
Joint Japan/World Bank Graduate Scholarship Program (JJWSP), Food and Agriculture Organization of the United Nations, Effective Partnership Commemorative Medal;
Gold Medal of the RA Ministry of Agriculture for Agricultural Achievements;
Best Defender Award in RA Prime Minister's Football Cup.

Marital Status

Single

Armen Ayvazyan

Board Member

Born on July 29, 1975, in Moscow, Russian Federation.

Education

2014 | Master of Business Administration | University of Chicago

2004 | Master’s Degree, Faculty of International Relations | Yerevan State University

1997 | Bachelor’s Degree, Faculty of Nuclear Energy | State Engineering University of Armenia.

Professional Experience

October 2026 - Present | Member of the Board | AraratBank OJSC

October 2022 - Present | Visiting Lecturer | American University of Armenia

September 2017 - October 2024 | Strategic Development Advisor | Volo LLC

June 2005 - August 2017 | Head of Marketing and Communications Department | Viva Armenia CJSC

Personal Information

Married, three children.

Ara Chalabyan

Board Member, Board Audit Committee Chairman

Board Audit Committee Chairman.

Born on December 28 1975 in Yerevan

Education

2012 | Columbia University Business School, General Management Leadership Program
2004 | Fletcher School, Tufts University, Boston, Special six-month Economic Program
2000-2001 | Business Administration (MBA), American University of Armenia
1992-1997 | Department of Economics, Yerevan State University

Qualification and Membership

2014 | Information Systems Audit and Control Association (ISACA), Qualification CRISC (2014)
2006 | Association of Chartered Certified Accountants (ACCA), Qualification ACCA (2006)
2001 | Institute of Internal Auditors (IIA), Qualifications CIA (2014), CRMA (2013)

Work Activity

2012-2021, 2023 - to date | President | Institute of internal Auditors Armenia NGO
2022 - to date | Financial, Investment, and Management Adviser | "Armenian Software" LLC | "SV and GA" LLC
2020-2022 | Director, Corporate Services and Development Directorate/Member of the Executive Committee | Central Bank of Armenia
2010 - 2020 | Chief Audit Executive / Head of Internal Audit Department | Central Bank of Armenia
Short-term Expert, International Monetary Fund since 2022
Started career in 1998, worked as a banking supervisor, internal auditor, risk manager, loan officer, Credit Unit Manager, Director of Corporate Finance Department/Executive Board Member, CFO, CEO, Chief Audit Executive, Corporate Services Director/Executive Committee Member

Social Activity

Independent Member of the Internal Audit Committee, Ministry of Finance, 2017-18
Independent Member of the Internal Audit Committee, Ministry of Labor and Social Affairs, 2018
Member of different Committees of the Institute of Internal Auditors Global, Florida, 2015-2020
Member of the Board of trustees, Dilijan Central School, 2014-2017

Military Service

1997-1998 | Senior Sergeant

Teaching Experience

2012 - to date | American University of Armenia, Finance and Audit, 4 courses
2012 - 2019 | Agribusiness Teaching Center: Finance, 3 courses
2020 - to date | IIA-Armenia, CIA Qualification, and Internal Audit Fundamentals Trainings
2004 - 2010 | IAB Centre – ACCA Qualification Training: 3 courses

Publications

Articles on Internal Auditing (2024)

What Is an Internal Audit?
Differences in External and Internal Audit
What is Audit Committee?
Three lines of Defense
Ethics and Professionalism

"The Challenges of Internal Audit in the Public Sector" – IIA-Armenia (2019)
Elevating Team Performance article published in Internal Auditor and Внутренний Аудитор (2018)
Series of articles published at www.banks.am and "Внутренний Аудитор" (2017)

Is the Boss Always Right?
Cultural Stereotypes – Fears of the Boss
The Excuses of "Simple Mortal"

Awards

2019 | John B. Thurston Outstanding Contributor 2019, Internal Auditor Magazine
2018 | American University of Armenia, Teaching Excellence Award
2016 | Agribusiness Teaching Center, Teaching Excellence Award
2015 | CIA (certified internal auditor) certificate of excellence for 2014 top 10 worldwide result

Languages

Armenian, English, Russian

Marital Status

Married, has four daughters