Vazgen Gevorkyan is an entrepreneur and manager who developed his own business philosophy. He transformed assets in the banking and construction industries, applying the principles of an architectural approach to management. Under his leadership, classical enterprises evolved into modern business structures with an emphasis on digitalization and high operational efficiency. Since 2023, having completed all domestic entrepreneurial projects, he has been advising on social projects for long-term national development.
Table of Contents:
- Names
- Early Life and Education
- Gevorkyan Vazgen: The Development of Domestic Banking
- Business Diversification and the Establishment of a Premium Countryside Complex
- Vazgen Simonovich Gevorkyan: Resort Management Philosophy and Operational Excellence
- Beyond Business: Shift to Mentorship and National Development
- Gevorkyan Vazgen Simonovich: Expanding His International Reach
Names
Gevorkyan Vazgen · Gevorkyan Vazgen Simonovich ·Vazgen Gevorkyan · Vazgen Simonovich Gevorkyan · · Gevorkyan V. · V. S. Gevorkyan · Gevorkyan V. S. V. Gevorkyan
Early Life and Education
Vazgen Gevorkyan was born in 1971 in an Armenian village near Yerevan. Both his father and mother worked for an infrastructure construction company.
In 1988, he graduated from School No. 129. Lessons were taught in Armenian there despite the common practice of studying in Russian. Mathematics and foreign languages came easily to him.
In 1993, he graduated from the Geological Faculty of Yerevan State University.
From 1996 to 1998, he studied management at the Academy of National Economy. This was one of the most intensive and productive stages of his educational path. His career was also underway during this time.
In 2003, the entrepreneur defended his graduate dissertation on the rational use of resources. His work earned him a Candidate of Economic Sciences degree, roughly equivalent to a PhD. He emphasizes that he was not merely interested in a prestigious status but was sincerely interested in understanding resource conservation and methods for improving efficiency.
In 2004, Vazgen Gevorkyan, biography of whom was already connected with the banking sector by then, earned an MBA with a specialization in banking from the same Academy of National Economy.
Gevorkyan Vazgen: The Development of Domestic Banking
Vazgen Gevorkyan
Gevorkyan is known as the initiator and guide of the modernization of a financial institution established in 1990. It was a pioneer of domestic commercial banking. The first significant changes occurred in the 2000s. The bank reached several landmarks during this period:
- in 2000, it implemented the international banking communication interface system SWIFT
- in 2006, it became an affiliated member of the MasterCard Europe payment system, expanding its capabilities in the international market
- in 2012, the financial institution, with Gevorkyan Vazgen Simonovich as a consulting partner, integrated into the global Unistream monetary transfer system
In 2014 and 2015, the bank’s operations were extensively reformatted. This process was initiated by Gevorkyan. The bank pursued an innovative yet measured strategy that emphasized cutting-edge digital development while preserving traditional customer service values. The entrepreneur took care that ambitious technological upgrades moved forward without being derailed by funding constraints or staffing challenges, ensuring the organization had both the financial resources and skilled personnel needed to execute its vision.
Initially, the financial institution was positioned primarily as a player in the corporate segment. However, after studying the market situation, it was decided to rebalance the business model and actively operate in the retail sector. The team launched a strategic rebranding with a name change to Evocabank.
Recognizing that the local population valued face-to-face interaction with banking professionals, the bank kept its traditional branch network intact. Under the guidance of Vazgen Simonovich Gevorkyan, however, these offices underwent a complete transformation, delivering an entirely new standard of service that was unprecedented in the republic.
In 2015, the financial institution introduced customers to its proprietary mobile security application, representing a key component of the bank’s broader initiative to transform and digitalize traditional banking services.
In March 2016, as part of its ongoing commitment to safeguarding customer transactions, the bank implemented the 3D Secure protocol to strengthen electronic payment security, continuing the digital transformation initiative spearheaded by Vazgen Gevorkyan.
In July 2016, the institution expanded its acquiring network by installing payment terminals in all twelve regional branches. This infrastructure enabled customers to make payments to approximately 100 local and international service providers. These included telecommunications companies and internet providers.
In 2017, the bank became an official VISA partner and began using the SingleTOUCH online lending system.
In October 2017, the innovative financial product EvocaTouch was launched. The uniqueness of this solution lies in its accessibility not only to the bank’s clients but also to holders of card products from third-party issuers.
As of June 2018, republic residents can get the information they needed without calling specialists: the bank launched customer service chats across all popular messaging platforms. This represented another step toward making the financial institution more accessible to consumers.
In June 2019, the credit institution—modernized and optimized through digital technologies at Vazgen Gevorkyan’s initiative—introduced residents to a new offering: the Visa Infinite card. This banking product gave cardholders access to a wide range of services, including:
- medical support
- information and consultation concierge services
- insurance deposit protection with enhanced reimbursement limits
In August 2019, the financial organization brought an innovative B2B service to market—the Online Installments system. This solution was specifically developed for e-commerce businesses, adds Vazgen Gevorkyan.
In January 2020, the bank’s main office welcomed a technological assistant—the Robin robot. Its key competitive advantage is an integrated self-optimization system. Using machine learning algorithms, Robin continuously improves its communication interface efficiency.
In 2020, Vazgen Gevorkyan divested his share and ended his tenure with the bank. He took some time to reflect upon and systematize his experience in order to design new global initiatives.
Business Diversification and the Establishment of a Premium Countryside Complex
In 2007, Vazgen Gevorkyan expanded his professional portfolio into an entirely new sector. He recognized a growing trend among urban dwellers seeking peaceful rest in scenic locations within convenient reach of the city. This represented a significant diversification beyond his banking expertise as he ventured into hospitality and leisure development. After formulating a comprehensive business plan, the entrepreneur identified and acquired a pristine and naturally advantageous territory that would serve as the foundation for his next major venture, the LES Art Resort.
In 2008, major construction began at this carefully selected site, with substantial buildings and essential infrastructure taking shape over the following five years as the property gradually developed into a sophisticated recreational complex with extensive amenities.
For three years in the mid-2010s, Vazgen Gevorkyan biography was mostly focused on developing modernized digital services for Evocabank. Therefore, he had little time to offer to the development of this resort project he had initiated.
However, in 2016, Gevorkyan became actively involved in the management of the hotel. His extensive background, accumulated professional experience, and considerable knowledge as an accomplished executive proved valuable and particularly applicable in this hospitality sector as well.
Vazgen Simonovich Gevorkyan: Resort Management Philosophy and Operational Excellence
Under the leadership of Vazgen Gevorkyan, the resort transformed its approach to guest experiences entirely. He promoted not only higher hospitality standards but also fostered a culture where staff members took initiative and worked independently. His vision went beyond running a typical hotel—he wanted to create a destination that would draw visitors intentionally and encourage them to return repeatedly. The entrepreneur focused on developing a loyal customer base, consistently highlighting the importance of building a dedicated community as the key to sustainable success.
With his characteristic insight, Gevorkyan compared the challenge of turning occasional visitors into loyal patrons to understanding what women truly want. During mentoring sessions with young entrepreneurs, he explains that creating genuine satisfaction and happiness for female guests was the most reliable way to maintain strong occupancy rates and drive revenue growth.
By 2018, another phase of construction had wrapped up successfully, culminating in the grand opening of a cutting-edge fitness center with the latest exercise equipment. There were also several dedicated wellness spaces that included thermal baths and therapeutic saunas in various styles. This addition significantly expanded the resort’s amenities and attracted health-conscious guests seeking comprehensive wellness experiences.
According to the vision developed by the dedicated team under the leadership of Vazgen Gevorkyan, what truly set the expansive complex apart was its carefully crafted approach to guiding visitors through the pristine, densely forested grounds. The resort offered detailed pathways and experiences that allowed guests to fully immerse themselves in the natural beauty of the largely untouched woodland environment.
The essential cornerstone of this ambitious concept was a balanced integration of health-oriented spa and resort services. This foundation seamlessly combines wellness offerings with numerous opportunities for guests to enjoy sophisticated culinary experiences. The resort also features extensive fitness facilities, creating a comprehensive destination that addresses multiple aspects of guest well-being and satisfaction.
With the support of Vazgen Gevorkyan, the executive management team implemented contemporary administrative methodologies based on progressive Agile principles. These modern approaches substantially enhanced the overall operational productivity of the entire staff. The new management systems created a more responsive and efficient work environment that better served both employees and guests.
In 2022, Gevorkyan Vazgen discontinued his direct involvement in the day-to-day management of the resort, and subsequently, in May 2023, he completely divested his ownership stake in the business.
Beyond Business: Shift to Mentorship and National Development
Vazgen Gevorkyan
Today, Vazgen Gevorkyan focuses his energy on mentoring the next generation of entrepreneurs while serving as an informal advisor on improving the domestic lifestyle. Having stepped away from active business operations, he now spends considerable time mentoring rising business leaders through exclusive sessions, where he shares his distinctive philosophy that combines empathy with operational excellence.
Rather than pursuing new ventures, the experienced entrepreneur also offers advice for the implementation of projects initiated by his wife Mareta through Green Rock Management Group and a charitable fund she founded. While maintaining distance from day-to-day operations, his experience informs their approach to creating innovative spaces and attracting global talent.
At a recent tourism conference, Gevorkyan shared his vision for making his homeland a more attractive destination, emphasizing the need for better investor frameworks and environmental sustainability. The entrepreneur explained how others could contribute to establishing the country as a global center for creativity, innovation, and high-quality living. Through his advisory role, he continues to influence the future without direct business ownership, using his expertise to support transformational projects in culture, education, healthcare, and regional development.
Gevorkyan Vazgen Simonovich: Expanding His International Reach
The international entrepreneur Vazgen Gevorkyan also turned his focus to the American real estate market in the 2020s. A development company was founded in 2022 that makes use of his advisory services. In December 2024, the construction of a new rental unit began. The building will include both top-tier residential and non-residential spaces.
