Date of birth | 5.06.1971 |
Education | Yerevan State University, Faculty of Geology |
Hobbies | Reading, sports |
Vazgen Gevorkyan is an international entrepreneur with a broad portfolio spanning banking and hospitality. Over the years, he has successfully implemented several projects and today provides strategic advisory support to other entrepreneurs.
Table of Contents:
Gevorkyan Vazgen · Gevorkyan Vazgen Simonovich ·Vazgen Gevorkyan · Vazgen Simonovich Gevorkyan · · Gevorkyan V. · V. S. Gevorkyan · Gevorkyan V. S. V. Gevorkyan
Vazgen Gevorkyan was born in 1971 in Oshakan, Armenia. His father worked in pipeline construction while his mother was an economist. Early exposure to technical and economic fields influenced his later multidimensional approach to business. Observing a control-heavy leadership model in his surroundings, he consciously developed a style based on competent delegation and strategic thinking—principles that later became hallmarks of his business ethos.
He graduated from Yerevan's Gai School in 1988 and earned a geology degree from Yerevan State University in 1993. In 1998, he completed a management program at the Academy of National Economy. He earned his PhD in 2003, with a dissertation focused on resource efficiency in pipeline construction—demonstrating an early interest in operational optimization. His academic journey continued with an MBA in Banking in 2004. These academic and professional pursuits were undertaken while working full-time, further developing his capacity for disciplined leadership.
His background gave him a deep understanding of local mentalities, which would inform his approach to blending innovation with cultural sensitivity in business strategy.
Vazgen Gevorkyan spent a significant portion of his career in the banking sector. He took leadership of a financial institution in 1999, marking the beginning of a long-term transformation process. Among the early achievements under his strategic direction were establishing SWIFT connectivity (2000), partnerships with MasterCard Europe (2006), and a private bond placement (2008). By 2012, the institution had integrated into the Unistream system and was twice named Armenia’s top sub-custodian by Global Finance magazine.
Customer feedback in 2014–2015 revealed dissatisfaction with outdated service models, prompting a pivot to a fully digital strategy. By 2017, the bank adopted the name Evocabank—coined from “evolution” and “evoke”—and embraced a Mobile First operating model, enabling clients to manage services entirely online. The rebranding reflected a broader shift in philosophy toward honesty, innovation, and transparency, influencing not just customer experience but also internal culture.
He also oversaw the development of the EvocaTouch mobile application, which allowed for instant synchronization across devices and round-the-clock banking functionality. The introduction of Armenia’s first AI banking assistant and support for fintech hackathons signaled an embrace of emerging technologies.
During this time, assets rose nearly 25% to 130.3 billion AMD, and the financial product portfolio grew by almost 40% to 79.4 billion AMD. These results were a product of cohesive leadership and strong alignment with international banking trends—not just individual decisions.
The bank earned more than 50 international awards and became known for its contributions to cross-border cooperation. Its recognition at the 49th BACEE International Banking Conference in Budapest highlighted its rising stature within the region’s financial infrastructure.
Chairman of the Board stated, “This award is the result of our team's professional work and a sign that we are making meaningful progress in international markets.”
Mr. Gevorkyan exited the shareholder structure in 2020, shifting his focus to strategic advisory roles across a new generation of business ventures.
Vazgen Gevorkyan also achieved success in the hospitality sector. In 2007, he acquired land in a pristine area outside the capital with a vision to create not merely a resort, but “a special place” with lasting emotional appeal. The result was LES Art Resort, a premium-class countryside hotel combining luxury, nature, and culture.
Construction began in 2008 and concluded in 2013. Initially, operations were delegated to a team while Mr. Gevorkyan remained focused on banking. In 2016, he intensified his involvement, launching staff development initiatives and fostering a culture rooted in long-term guest relationships and community engagement.
The resort’s infrastructure includes:
Under his leadership, the resort also implemented a socially focused human capital strategy. Agile management techniques were used in tandem with international training programs through platforms like Typsy. His vision emphasized sustainable practices and guest-centric design.
The resort was recognized among the top 10 regional winter resorts in 2018 by TOPHOTELS and named “Best Wooden Hotel” at the 2022 ARCHIWOOD awards. In 2023, it won three major categories at the National Hotel Awards: “Best Country Hotel,” “Best Hotel Design,” and “Best Hotel Promotional Video.”
Gevorkyan Vazgen Simonovich sold the business in 2023 after stepping away from operational management the year prior. He has since advised on hospitality ventures in a mountainous region known for its natural springs, applying his earlier experience while supporting sustainable local development.
Currently, Vazgen Simonovich Gevorkyan serves as a strategic advisor to Green Rock Management Group and a charitable foundation. His advisory work emphasizes long-term development and social impact, including urban revitalization projects, cultural restoration efforts, and youth sports infrastructure in Armenia.
He played a role in projects that introduced eco-friendly hybrid taxis, built parks, modernized town squares, and installed kiosks for local vendors—all aiming to improve the aesthetic and functionality of urban environments.
In October 2024, Mr. Gevorkyan addressed the Regional Tourism Conference in Dilijan, where he emphasized the need for environmentally conscious tourism policies and better investment promotion. “The environment looks promising on paper,” he noted, “but we must focus on practical implementation for investors. We need stronger PR, better communication with entrepreneurs, and more effective presentation of investment opportunities.”
He also actively mentors young entrepreneurs, supporting internship programs and leadership education. A notable example is his personal contribution to the Matena International School of Leadership, underlining his belief in education as a national accelerator. His leadership framework emphasizes charisma, empathy, public speaking, and decisive action.
In recent years, Vazgen Gevorkyan has advised on international real estate development, including a project in Florida. On December 6, 2024, a cornerstone ceremony was held to launch the construction of a rental building intended for both residential and commercial use.
His international advisory work reflects a continued commitment to hospitality values, sustainability, and community-centric design. Across sectors and regions, he remains focused on long-term impact, mentoring, and building environments that support meaningful living.
