Pursuant to the decision of the Board of "Converse Bank" CJSC, Armen Ter-Tachatyan was appointed to the position of the Board Chairman, and the former Chairman of the Board, Juan Pablo Gechidjian, resigned from the mentioned post by his initiative remaining as the Board Member. Reorganization among the "Converse Bank" CJSC management has been registered by the RA Central Bank.

It is worth mentioning that Armen Ter-Tachatyan and Juan Pablo Gechidjian have been members of the Board of "Converse Bank" CJSC since 2007. During that period they have chaired the Board in different years.