Tushan appointed Chairman of Industrial Asphalts

Thursday, 27 November 2014 00:00 - - {{hitsCtrl.values.hits}}

Capital markets fame Tushan Wickramasinghe has been appointed as the Chairman of Industrial Asphalts (Ceylon) Plc with effect from 24 November. Tushan was first appointed to the Board as a Non-Executive Non-Independent Director on 3 November along with management accountant and lawyer Mahinda Perera and S.P. Muthusammy as Non-Executive Independent Directors.

The appointments follow G. Ramanan in August acquiring control of Industrial Asphalts at Rs. 201 per share. Ramanan, who is the CEO/Director, now owns 66.3% stake. Ramanan is an investment banker with over 20 years experience established his own boutique investment banking operation in 2009 along with Capital Trust Holdings. He is also the Managing Director of Capital Trust Financial Ltd. He also serves on the Boards of People’s Merchant Finance Plc and Adam Investments Plc. Tushan is the Chairman/CEO of Capital TRUST Holdings Ltd., Capital TRUST Credit Ltd., Capital TRUST Financial Ltd., Capital TRUST Property Developers Ltd. and Capital TRUST Partners Ltd. He is the Managing Director/CEO of Capital TRUST Securities Ltd. and he has facilitated and arranged many of the strategic transactions in the Colombo Stock Exchange. Under his leadership the company has expanded to have the largest local investor client base which is served through eight branches. In 2010 and FY 2010/2011, the company achieved the distinction of being ranked first among all securities brokering firms in Sri Lanka, in terms of transactions turnover, brokerage income and the number of trades. This is even more significant as 2010 was when the country’s stock market recorded the highest ever turnover. He was a Director of Lanka ORIX Leasing Co. Plc from 2002 to 2009 and is currently a Director of People’s Merchant Finance Plc. Furthermore, he is the proprietor of Shakthi Institute, an educational institute with over 10,000 registered students. He holds a Master of Business Administration from the Edith Cowan University in Australia.