Nishaman assumes duties as HDFC General Manager/CEO

Monday, 9 January 2023 00:03 - - {{hitsCtrl.values.hits}}

Nishaman Karunapala assumes duties as HDFC Bank’s new General Manager/CEO whilst Chairperson Wasanthi Manchanayake looks on

Top financial services sector professional Nishaman Karunapala with over 25 years of experience, assumed duties as the General Manager/CEO of the HDFC Bank on Thursday.

After assuming office Nishaman told staff that he will work for the betterment of HDFC Bank aiming to meet and exceed customer expectations through service excellence. He was optimistic about the bank’s future and said it is needed to expand the product portfolio and operations.

Nishaman has experience particularly in the areas of corporate strategy, systems and process development, risk management, business development; trade and project finance, leasing and factoring.

He was the founding Director/Chief Executive Officer of Melsta Regal Finance, a former subsidiary of Melstacorp PLC for over five years; prior to its acquisition by a consortium of foreign and private equity investors.

Nishaman led the strategising and positioning of the entity as a revolutionary player in the industry with novel product offerings. Subsequently, he also served as CEO of Merchant Bank of Sri Lanka and Finance PLC and the Director at MBSL Insurance Co.

He was the Vice Chairman at Financial Houses Association and has served twice as the Chairman of the Leasing Association of Sri Lanka. He was also a committee member of the Ceylon Chamber of Commerce, a former Director of the Credit Information Bureau of Sri Lanka and a Council Member of the Sri Lanka Institute of Credit Management.

Nishaman’s 35-year career commenced at reputed multinationals such as A. Baur and Co. and Ansell Lanka. In the financial services industry, he led the establishment of Orient Finance PLC in 2003 and served 9 years until his departure as Deputy General Manager.

He has also held key roles at Seylan Merchant Bank and Mercantile Leasing. His training and exposure spans across UK, Ireland, Singapore, India, Japan and the Philippines in relation to systems and operational procedures of reputed corporates and financial institutions.

He currently holds Directorships in the Lassana Flora Group. As a Management Consultant, Nishaman has advised entities in e-commerce, agriculture, manufacturing and hospitality sectors in areas of securing local and foreign-funded grants and debt financing. He has also provided strategic guidance to strengthen governance, operational performance and facilitate external equity financing.

He received his MBA- Banking and Finance from the Post Graduate Institute of Management (PIM), and a BSC-Business Administration (Special) Degree from the University of Sri Jayewardenepura. He also holds a Postgraduate Level Diploma in Modern Commercial Banking from PIM and is a Member of the Certified Management Accountants (Australia).