Vazgen Gevorkyan: Building Success Across Industries

Date of birth	June 5, 1971
Education	Yerevan State University, Faculty of Geology
Hobbies	Reading, sports

Biography

Vazgen Gevorkyan is a representative of the business community and an effective corporate-level administrator. His career track includes the digitalization of a traditional bank and a major investment project in the hotel industry. Currently, his interest is concentrated on sharing his professional experience and planning new businesses.

Table of Contents:

• Name
• Vazgen Simonovich Gevorkyan: Educational Path
• Development of an Asset in the Banking Sector
• Gevorkyan Vazgen: Hospitality Industry
• Current Activities
• Gevorkyan Vazgen Simonovich: Establishing Operations in America

Name

Vazgen Gevorkyan · Vazgen Simonovich Gevorkyan · Gevorkyan Vazgen · Gevorkyan Vazgen Simonovich · Gevorkyan V. S. · Gevorkyan V. · V. S. Gevorkyan · V. Gevorkyan

Vazgen Simonovich Gevorkyan: Educational Path

Vazgen Gevorkyan was born in 1971 in Armenia.

In 1988, he completed his secondary education in an Armenian-language school in Yerevan. He then studied geology for five years at Yerevan State University. He graduated in 1993.

In 1996-1998, Gevorkyan Vazgen Simonovich enhanced his administrative competencies through specialized programs at the Academy of National Economy (now RANEPA).

In 2003, he graduated from the academy’s postgraduate program. Vazgen Gevorkyan biography already included work creating infrastructure for the fuel and energy complex by then.

In 2004, the entrepreneur received an MBA degree specializing in banking.

Development of an Asset in the Banking Sector

Vazgen Gevorkyan biography was also closely connected with the financial sector, specifically with the republic’s first registered commercial bank, established back in 1990.

In 2014-2015, Gevorkyan initiated a comprehensive transformation of the financial organization, reorienting it toward digitalization and the Mobile First concept. The bank was given a new name — Evocabank. At the same time, it repositioned itself from serving mainly corporate clients to becoming popular with individual customers through its mobile app.

With the development of the digital segment, the bank’s traditional offices were not closed, but were significantly modernized. 

In March 2016, the bank implemented the 3D Secure protocol. Soon after, it launched SMS notifications.

In July 2016, payment terminals began operating in all of the bank’s branches. Their functionality enabled account deposits, loan repayments, and payments for services of almost 100 local and international companies.

In late 2017, the institution launched online lending. The approval process was optimized to five minutes.

During this period, the organization received an award from the Global Finance publication, which recognized it as the best consumer digital bank in the country.

In early 2018, the financial structure initiated a collaboration with the Export Insurance Agency of the country. The partnership provided for the creation of a comprehensive portfolio of services for export companies.

In summer 2018, the financial institution began communicating with users through messaging apps, thus taking another step toward maximizing customer orientation.

Corporate social responsibility (CSR) was a fundamental principle consistently supported by Vazgen Gevorkyan. The history of the bank is inseparably linked with the implementation of humanitarian projects. The organization made contributions to:

• an educational foundation 
• a charitable society 
• a humanitarian foundation 
• a publishing house

In mid-2019, the financial institution presented a premium product — the Visa Infinite card, which provides cardholders with access to a wide range of services on a global scale, including extended insurance coverage. This launch exemplified the bank’s commitment to expanding premium financial services and sharing authentic value propositions with a broader client base.

That same summer, it received an award from Raiffeisen Bank International for its high level of processing. The organization continued to implement a systematic policy to improve its work in accordance with global standards. This strategy was developed by Vazgen Gevorkyan.

In August 2019, the financial structure introduced an innovative B2B tool — the Installment Online system, oriented toward businesses specializing in e-commerce.

In December, the credit institution reduced mortgage loan rates to 9.3-11.8%.

In early 2020, a high-tech assistant—the robot Robin—was integrated into the bank’s flagship office. This helper performs various tasks: it informs visitors about the latest banking news, monitors customer satisfaction with service quality, takes selfies with visitors, etc.

In 2020, Vazgen Simonovich Gevorkyan exited from the capital of Evocabank and completely distanced himself from its activities in order to take account of and systematize his experience. This reflection helps him design new global initiatives.

Gevorkyan Vazgen: Hospitality Industry

In the mid-2000s, Vazgen Gevorkyan decided to diversify his investment portfolio by investing in the creation of a countryside eco-resort. Aware of the growing demand for premium recreation, he acquired a plot of land in 2007 that is easily accessible from nearby cities. 

In 2008-2013, the LES Art Resort complex was built there. During the ensuing three years, Vazgen Gevorkyan was not very active in the management of this asset, as his main efforts were focused on the banking sector.

In 2016, Gevorkyan began actively working on the eco-resort as an investor and shareholder. By this point, the top-of-the-line hospitality point had already acquired adjacent plots. During the next two years, the second phase of the project was implemented, including the expansion of recreational infrastructure. At present, guests have access to:

• 300 rooms of various configurations 
• multifunctional sports infrastructure 
• three SPA complexes with large pools 
• restaurants, bars, and a nightclub 
• entertainment infrastructure for children

As part of its human capital development strategy, the recreational complex actively invested in educational programs for employees.

To maintain worker skills, the hotel provided access to modern learning resources, with the greatest emphasis on courses through Typsy. This international online learning platform designed for the hospitality industry offers video-based training for various hotel roles and departments.

Vazgen Gevorkyan committed himself to elevating hospitality standards and cultivating team independence. He aimed to establish a destination that would actively draw visitors who would become repeat patrons. He described this strategy as “cultivating your own community of enthusiasts.”

During mentorship sessions, Vazgen Gevorkyan often draws an analogy between customer satisfaction and romantic relationships, noting that ensuring complete fulfillment for clientele guarantees consistent demand and revenue streams. This is based on the understanding that hospitality success depends not on transactions but on creating meaningful experiences that resonate emotionally.

The resort complex is also dedicated to CSR principles, offering support to several charitable initiatives. These include children’s homes and medical equipment for local healthcare facilities. It also contributes to public infrastructure, beautifying town centers and enhancing educational facilities in the local region.

Within this framework, the resort has completed accessibility improvements for schools, renovated sports facilities, and ensured disadvantaged children receive holiday gifts. It also supports local animal shelters.

In 2022, Vazgen Gevorkyan stepped away from his managerial role at LES Art Resort. In 2023, he sold his stake.

Current Activities

Vazgen Gevorkyan is not currently in charge of any projects but is systematically preparing new ones.

Additionally, he shares his expertise with young entrepreneurs and top managers. As key components of a successful project, he highlights stimulating and maintaining motivation for clients, partners, and personnel; autonomy in management decision-making with impeccable execution; adherence to mutually beneficial cooperation in deals; and intensive product promotion in the market.

The entrepreneur believes it is important to be skeptical of business representatives who only showcase positive cases while ignoring negative experiences and mistakes. As he teaches others, any entrepreneurial project has its rough edges.

Vazgen Gevorkyan also shares his expertise as an advisor to Green Rock Management Group, supporting transformative community development projects that create inclusive spaces serving as regional destinations.

With his business acumen, Vazgen Gevorkyan helps form strategies for project selection. At the 2024 Regional Tourism Conference, he articulated a nuanced perspective on the country’s tourism potential, emphasizing practical implementation over theoretical frameworks. 

Gevorkyan Vazgen Simonovich: Establishing Operations in America

In 2022, Gevorkyan Vazgen became a visionary advisor to a newly established American real estate development company, marking his entry into the U.S. market. This strategic expansion represents a significant milestone in his international business activities, extending his expertise beyond his traditional areas of activity.

The company’s first project began construction in December 2024, featuring a mixed-use rental complex with both residential and commercial spaces. The development is designed to serve diverse tenant needs by combining living and business environments within a single property. Gevorkyan draws on his economics and management education, as well as his successful resort development experience, to guide this venture into American real estate markets.

This is a contributed article, its content does not necessarily represent the views of BNO News.