Roshantha Fernando appointed CEO of SC Securities

Thursday, 5 July 2018 00:31 - - {{hitsCtrl.values.hits}}

SC Securities Ltd. (SCS), a subsidiary of Sampath Bank PLC, has recently appointed stockbroking veteran Roshantha Fernando as its CEO with effect from June.

Roshantha, a graduate from the University of Sri Jayewardenepura, has 18 years of experience in the industry.

The Board of SC Securities itself was revamped last year with the Bank’s former Deputy Chairman Sunil G. Wijesinha taking over as the new Chairman along with qualified and experienced professionals being appointed to the Board. Currently, the Board comprises Sunil G. Wijesinha, a chartered engineer and a chartered management accountant who has several years of experience in manufacturing, finance, and consultancy, Ranjith Samaranayake, a former Group Finance Director of Sampath Bank PLC and a former Head of Finance and Planning of Commercial Bank PLC, Prashantha Lal de Alwis, President’s Counsel, an eminent lawyer and management trainer, and Seedantha Kulatilleke, an industry veteran who has many years of experience in the financial services industry, locally and overseas, and who was previously a CEO of a leading stock broking company.

Ruwan Wanniarachchi, the CFO who was acting CEO since January 2018, will revert to his substantive position. The new Board and new management have revamped most of the systems and procedures, and the company is now poised to serve their customers more efficiently, providing win-win financial solutions, with the backing of their parent, Sampath Bank PLC.

Although the market is depressed at the moment, Roshantha firmly believes there is scope for an improvement in the depth of the market, both in terms of average daily volumes as well as in the number of participants. A general increase of interest by foreign funds in frontier markets and the planned additions to available investment instruments is expected to facilitate more business opportunity.SCS has many new initiatives planned and will unveil them shortly.