Ebell to retire; Asoka new Chairman at Cargills Bank

Richard Ebell

Asoka Pieris

Top professional and Deputy Chairman Asoka Pieris has been appointed as the Chairman of Cargills Bank Plc from 3 July 2024 following the retirement of Richard Ebell on 2 July.

Ebell is stepping down having completed 9 years on the Board of the Bank in compliance with Banking Act Direction on Corporate Governance for commercial banks. Ebell was appointed to Cargills Bank Board in July 2015.

Pieris was appointed to the Board of Directors of Cargills Bank PLC in January 2023 as a Non - Independent Non - Executive Director and was thereafter appointed as Deputy Chairman on 1 April 2024. He serves on several Board Sub Committees, including Board Nominations & Governance Committee, Board Human Resources and Remuneration Committee, Board Strategic Planning Committee and Board Credit Committee.

Pieris has wide and varied experience in the fields of Finance, Marketing and Manufacturing, both in Sri Lanka and overseas. Currently, he is on the Board of Directors of Cargills (Ceylon) PLC and is the Managing Director of Cargills Retail Ltd. He has been previously employed at Singer Group of companies in various capacities, including as CEO and CFO of Singer Group in Sri Lanka and CFO of Singer Asia and Director of the group›s Public Companies in Sri Lanka and Bangladesh. He has previously held Board positions in several companies in the Financial Sector, including Director of Hatton National Bank PLC and Chairman of its Audit Committee; Director of Singer Finance Lanka PLC, Commercial Leasing Company PLC and First Capital Group of Companies involved in Money Brokering and Fund Management. He is an Associate member of the Institute of Chartered Accountants of Sri Lanka and a Fellow member of the Chartered Institute of Management Accountants, UK and a Certified Global Management Accountant.