Soosaipillai new Chairman at HDFC Bank

Senior professional E. D. P. Soosaipillai has been appointed as the new Chairman of HDFC Bank Plc.

Soosaipillai is a fellow of the Institute of Chartered Accountants of Sri Lanka and the Institute of Certified Management Accountants of Sri Lanka.

In a career spanning over 35 years in the governance of financial and reporting systems both at the operational and strategic levels, Soosaipillai brings to the table a core discipline in finance, a core competency in Risk Identification, Assessment and Management at operational levels and Forward Risk Assessment at a strategic level and three decades of experience in senior management in the financial services industry.

His decade and a half of board level executive experience spans that of several leading specialised leasing companies in the capacity of Finance Director, Chief Executive Officer and Managing Director, whilst his experience as a Non-Executive Director includes the boards of LFC’s, a Systemically Important LCB and Regional Plantation Companies.

He is currently an Independent Non-Executive Director on the Board of Finlays Colombo Ltd. and chairs the Board Audit Committee of the Company.

Soosaipillai previously served on the Board of Hatton National Bank PLC as an Independent Non-Executive Director, principally as Chair of the Board Integrated Risk Management Committee and the Board Procurement Committee as well as an active member of the Board Strategy and Investment Committee, the Board Recoveries Committee and the Board Human Resources and Remuneration Committee

Appointed as an Independent Non-Executive Director of Commercial Credit and Finance PLC in January 2014, he was elected Chairman in March 2020, until his resignation from the Board in November 2022. During his Chairmanship at Commercial Credit and Finance PLC he chaired the Board Nomination Committee and the Board Remuneration Committee. He previously chaired the Board Audit Committee and was an active member of the Board Integrated Risk Management Committee and the Board Related Party Transactions Review Committee

He was briefly engaged by the World Bank as a Short Term Consultant on a Payables Assessment assignment in the Maldives as part of a wider Public Finance Management project in 2012. Soosaipillai also served as the Managing Director of the Maldives Finance Leasing Company Ltd., for over 7 years and as the Chief Executive Officer of Ceylease Financial Services Ltd., a subsidiary of the Bank of Ceylon, prior to that.