XacBank appoints Tsevegjav Gumenjav as President of Retail banking
XacBank, one of the top 4 banks in Mongolia with an award winning Corporate Governance and Corporate Social Responsibility program, announces today the promotion of Mr. Tsevegjav Gumenjav to the role of President of Retail Banking.
Tsevegjav is an experienced senior executive with 15 years of progressive experience in the United States and Mongolia with expertise in the areas of retail banking, treasury, financial management, strategy development and business operations.
Tsevegjav has been with TenGer Financial Group (TFG) since 2011 and prior to this promotion he had served as TFG and XacBank Chief Financial Officer, Chief Retail Banking Officer, CEO of XacLeasing and Board Chairman of Tenger Insurance.
Prior to joining TFG, Tsevegjav worked in US as a Treasury Manager at Restoration Hardware (NYSE: RH), Chief Financial Officer of PlumSlice and treasury analyst at Wagner Equipment Company. He earned a Bachelor’s degree in International Business and Information Systems Management from the University of Colorado, USA and a Master of Business Administration from Regis University, USA.
XacBank has been established in 2001 as a result of merger of the two first NBFIs in Mongolia, Golden Fund for Development and Gobi Initiative. It was an impressive entrance into the Mongolian banking and financial system, especially microfinance sector. Now the Bank keeps its leading position in the financial system. It also introduces world best standards and models into its operations, expands its operations into the SME and institutional banking sectors, value adds by means of meeting their financial needs and thereby adds to real production factories and works, contributing to the economic development of Mongolia.
