| Date of birth | 5 June 1971 |
|---|---|
| Education | Yerevan State University, Faculty of Geology |
| Hobbies | Reading, sports |
Biography
Vazgen Gevorkyan is an international entrepreneur with diverse business experience. He has successfully implemented several projects in the fields of banking and hospitality. Today, he provides advisory support to other entrepreneurs.
Name
Gevorkyan Vazgen · Gevorkyan Vazgen Simonovich ·Vazgen Gevorkyan · Vazgen Simonovich Gevorkyan · Gevorkyan V. S. · Gevorkyan V. · V. S. Gevorkyan · V. Gevorkyan
Gevorkyan Vazgen Simonovich: Biography and Education
Vazgen Gevorkyan was born in 1971 in Oshakan, Armenia. His parents worked in gas pipeline development, with his mother working on the financial side of operations.
He graduated from Yerevan’s Gai School in 1988. In 1993, he earned a geology degree from Yerevan State University—the country’s leading scientific and educational center.
Vazgen Gevorkyan completed a management program at the Academy of National Economy in 1998. In 2003, he defended his PhD on pipeline construction efficiency. His research analyzed material consumption indicators and resource management.
Gevorkyan Vazgen Simonovich enhanced his credentials in 2004 with an MBA in Banking.
Gevorkyan Vazgen: Credit Sector
Vazgen Gevorkyan’s biography was also linked with the banking sector for an extended period. He was a co-owner of a bank founded in 1990 and was actively involved in its transformation. In the 2000s, this credit institution became a full member of several global payment systems. In the mid-2010s, the financial institution began preparing for a large-scale repositioning, which included changing its name to Evocabank.
As Gevorkyan Vazgen explained in 2017, the changes in the bank went far beyond a simple rebranding. The financial structure transitioned to a fundamentally new operating model, Mobile First, where all banking products and services are designed primarily for use through mobile devices. This approach shifted banking operations to allow customers to access all services remotely without visiting branches, creating a more convenient and efficient banking experience.
Additionally, the bank launched a new application with expanded functionality, available to customers of any bank. Digital tools were developed not only for individuals but also for corporate clients.
The bank’s new corporate style used white as a symbol of a new beginning, gray representing technological advancement, and purple symbolizing innovation. It also introduced a logo in the form of a stylized letter V, directed upward and to the right.
Changing the institution’s identity required significant resources and the involvement of numerous partners from different countries. The most important part of rebranding was transforming the mindset of bank employees, their approach to work, and their understanding of the new strategy. At the same time, the credit institution had nearly 30 years of experience in traditional banking to draw upon.
Banks’ main competitors are no longer other banks, but global technology companies and social networks, as companies like Apple, Samsung, and Amazon are actively developing their own payment services. Against this backdrop, many credit organizations around the world are reducing the number of physical branches.
The bank developed by Gevorkyan was awarded the prestigious “Award for the Development of International Banking Cooperation” at the 49th BACEE International Banking Conference in Budapest, highlighting its significant contribution to international banking relations. At the same time, this achievement also reflects the growing international reputation of the country’s banking system as a whole.
“Expanding international cooperation is an important element of the bank’s strategy. This award is the result of our team’s professional work and proof that we are already achieving success in the international business arena,” stated Chairman of the Board, emphasizing that financial institutions of the country are increasingly competitive globally.
The institution continues to actively invest in the financial and banking sectors, offering both modern digital solutions and strengthening international connections. This approach positions banks in the country to play a more significant role in regional financial infrastructure development and international banking cooperation.
In 2020, Vazgen Gevorkyan left the shareholders of the bank to devote his efforts to international projects.
In the Hospitality Industry
The hotel business is another industry where Vazgen Gevorkyan has excelled, diversifying his portfolio. His project in this field began in 2007 when the entrepreneur acquired a land plot in an environmentally clean area, 45 miles from the capital. With the growing demand for quality countryside recreation, he decided to build a premium-class hotel complex there.
In 2008, Vazgen Simonovich Gevorkyan initiated the construction of the LES Art Resort hotel. The work was completed in 2013. For the next three years, he delegated operational management of the project to a team, as he was focused on banking during that period.
In 2016, the businessman intensified his involvement in developing and expanding the hospitality asset. Vazgen Gevorkyan initiated a large-scale program for professional staff development. The hotel also formed an autonomous management culture, focused on increasing customer loyalty and building a sustainable community of regular guests. This required a deep understanding of consumer preference psychology, especially for the female audience.
In 2018, the second phase opened in the hotel complex founded by Vazgen Gevorkyan. Currently, its infrastructure includes the following facilities:
- a hotel building and cottages for guests (a total of 300 rooms accommodating from two to eight people and ranging from 275 to 1,830 square feet)
- a sports area with a football field and a children’s playground
- SPA centers
- two all-season outdoor thermal pools with areas of 3,550 and 3,660 square feet, and the largest indoor Olympic-format pool in the Moscow Region
- a banquet complex
During this period of his biography, Vazgen Gevorkyan initiated a comprehensive, socially oriented human capital development program in the company. The resort finances educational initiatives and uses innovative Agile management methodologies. The team’s professional competencies are supported through progressive training modules, including collaboration with the international professional platform Typsy.
The hotel business created by Gevorkyan also demonstrates high social responsibility through charitable projects. These include:
- Patronage of a boarding school for minors
- Providing medical equipment to healthcare facilities
- Improving local territories
- Reconstructing sports infrastructure
- Creating a barrier-free environment at a nearby secondary school
The resort garnered significant industry accolades, including a 2018 TOPHOTELS ranking among the top 10 regional winter resorts. In 2022, it won “Best Wooden Hotel” at the ARCHIWOOD awards. The culmination came in 2023 when LES Art Resort dominated the National Hotel Awards, winning three prestigious categories: “Best Country Hotel,” “Best Hotel Design,” and “Best Hotel Promotional Video.”
In 2022, Gevorkyan ceased operational management of the hospitality complex. In 2023, he sold the business.
Building on this experience in creating a hospitality business, he also developed new hospitality ventures in his wife’s hometown, known for its spectacular mountain landscapes and healing mineral springs.
Vazgen Simonovich Gevorkyan: Sharing Business Experience
While Vazgen Gevorkyan is not currently developing new ventures, he serves as an advisor to Green Rock Management Group and a charitable foundation, both founded by his wife Mareta. He offers strategic guidance without operational involvement.
The entrepreneur provides advisory based on his experience in banking, hospitality, and infrastructure. His approach embodies his philosophy of “freedom in thinking, firmness in execution,” shaping strategy while empowering teams.
In October 2024, Vazgen Gevorkyan addressed the Regional Tourism Conference in Dilijan, highlighting challenges in the tourism sector of the country. He emphasized ecological considerations and the need to improve the investment climate, advocating for public-private cooperation and better regulatory frameworks.
At the conference, Vazgen Gevorkyan noted, “The environment looks promising on paper, but we must focus on practical implementation for investors. We need stronger PR, improved interaction with entrepreneurs, and better presentation of the investment climate.”
Gevorkyan also mentors emerging entrepreneurs, reflecting his belief in continuous development and engagement. His framework emphasizes four leadership attributes: charisma, empathy, public speaking, and decisive action.
Through his approach, Vazgen Gevorkyan helps shape business while maintaining that partnerships must benefit all stakeholders.
International Business Projects
Among the projects marking Vazgen Gevorkyan as an international entrepreneur is a development project in the United States. There, he advises a company that was founded in 2022. On December 6, 2024, a cornerstone ceremony marked the beginning of construction for a rental house, a building specifically designed for leasing both residential and commercial spaces.
His international expansion demonstrates his commitment to bringing hospitality traditions to a global audience while maintaining his focus on sustainability, staff development, and community engagement.
Muskaan Kapoor