UB Finance announces appointment of new Chairman, Director

Monday, 11 December 2023 00:17 - - {{hitsCtrl.values.hits}}

Chairman Malay Mukherjee

Director M. Sanjay Pokhrel

Following the strategic investment by CG Capital Partners Ltd (CGC) in Union Bank of Colombo (UBC), UB Finance (UBF) a 90% owned subsidiary of UBC, recently made two key appointments to its Board of Directors, engaging Malay Mukherjee as the Chairman and Sanjay Pokhrel as a Non-Independent Director.

CG Capital Partners Ltd is an integral part of CG Corp Global (CG), an established conglomerate since 1935 with its Headquarters in Dubai. CG proudly stands as a leading multinational in Asia, operating across 35 countries, overseeing 160 companies, 123 brands and employing over 15,000 individuals.

The Group’s diverse portfolio spans various industries, including banking and finance, food and beverage, hospitality, real estate, education, consumer electronics, cement, hydro power, telecommunication and infrastructure. With a notable presence in the financial services sector, CG is a significant player in Nepal, where Nabil Bank, of which CG is the largest shareholder, is listed as the largest private bank on the Nepalese Stock Exchange.

Mukherjee brings a distinguished career in banking amassing over 42 years of experience with a focus on Risk, Audit and IT. Holding a Master of Science (MSc) in Physics from Banaras Hindu University India, he has been awarded an Honorary Fellowship in Banking and Finance from the Indian Institute of Banking and Finance India.

He currently serves as a Director of Nabil Bank Ltd., an Independent Director for Shivalik Small Finance Bank India and Dilip Buildcon Ltd., India. He also acts as a Consultant to the Asian Development Bank.

His extensive professional history includes roles such as Managing Director and Chief Executive Officer of IFCI Limited India, Executive Director of Central Bank of India, and General Manager overseeing the Risk Management and Technology Management Departments at Indian Bank in Chennai India. Mukherjee has held leadership positions on various boards, including Chairman roles for entities such as Management Development Institute, Institute of Leadership Development, IFCI Factors Ltd., IFCI Infrastructure Development Ltd., Tourism Finance Corporation of India Limited, IFCI Financial Services Ltd., IFCI Venture Capital Funds Ltd., and Stock Holding Corporation of India Ltd. He was also a member of the Governing Body of Entrepreneurship Development Institute of India.

Sanjay Pokhrel is a seasoned CFA and Chartered Accountant specialising in Investment Management, Mergers and Acquisitions and Asset Management, he currently serves as the Head of Mergers and Acquisitions at CG in Dubai. In this role he leads investment processes, co-leads fundraising initiatives, oversees asset management functions, directs venture capital investments and monitors the secondary market investment portfolio. His diverse experience extends to leading ventures such as Nepal Social Business, CG Pay, and CG’s recently launched FTTX business.

Prior to joining CG, Pokhrel served as an Investment Officer at One to Watch Nepal Ltd., an impact investment management company focused on early-stage Nepalese businesses.