Tashkent, Uzbekistan (UzDaily.com) — TBC Uzbekistan has announced the formation of a Supervisory Board at TBC Digital JSC, a new management structure led by CEO Nika Kurdiani. The company’s shareholding structure includes TBC PLC (79.7%), the International Finance Corporation (10.15%), and the European Bank for Reconstruction and Development (10.15%).

The newly formed Supervisory Board includes distinguished international experts in fintech and global investment. Their participation is expected to significantly enhance the company’s corporate governance and support the strategic growth of TBC in Uzbekistan’s rapidly developing financial market. Oliver Hughes, head of international operations at TBC Bank Group, has been appointed Chairman of the Board. His extensive career includes top roles in major digital finance institutions: he was formerly CEO of Tinkoff Bank, where he helped transform the fintech startup into one of the world’s most profitable digital financial ecosystems. He also served on the board of Tabby and led Visa International's operations in Russia.

According to Oliver Hughes, assuming a new role at TBC Digital and working alongside highly qualified colleagues on the Board marks an important milestone in his professional journey. He noted that Uzbekistan is emerging as one of the most promising destinations for digital banking globally, and the Board’s efforts will help strengthen the country’s standing in the international fintech landscape. He added that the establishment of TBC Digital lays a solid foundation for sustainable growth and scaling of TBC Uzbekistan, delivering additional value to shareholders.

Among the Supervisory Board members is David Nangle, co-founder and CEO of the investment company VEF, nominated by the IFC and EBRD. VEF specializes in investing in high-growth fintech ventures in emerging markets and is listed on the Stockholm Stock Exchange. Over the years, David has played an active role in advancing innovative financial solutions in countries such as Brazil, India, Turkey, and Mexico. His background includes leading research divisions at Renaissance Capital and ING Barings. With over two decades of experience in finance, he brings deep insight to the board.

Also joining the Board is Matthew Risley, Honorary Partner at QED Investors, a leading US venture capital firm focused on innovation in the financial sector. Previously, he served as CFO and Head of Credit at Klarna, a European fintech unicorn, and advised major companies on strategy and risk management. His career began at Capital One, an institution instrumental in transforming consumer lending through data-driven direct marketing.

David Nangle expressed his gratitude for the opportunity and noted his longstanding familiarity with TBC’s operations, dating back to its IPO in 2014. He praised TBC’s progress in Uzbekistan and emphasized that the company is only beginning to unlock its full potential in the fast-growing market. Nangle expressed confidence in TBC Uzbekistan’s future success and his commitment to contributing to the Board’s work.

Matthew Risley, in turn, highlighted the significance of being involved in the governance of TBC Digital, noting the company’s exceptional growth pace and leadership in Central Asia. He expressed confidence in Uzbekistan’s vast potential in digital banking and stressed that TBC’s solid foundation and strong leadership team create the right conditions for long-term success.

The establishment of the Supervisory Board at TBC Digital marks a major step in formalizing and consolidating TBC’s operations in the Uzbek market. The new structure and board regulations have officially come into force, signaling the beginning of a new phase in the development of digital banking in the country.