Jonathan, Mahendra and Balasundaram appointed to HNB Assurance Board

HNB Assurance Plc has announced the appointment of three Directors – Jonathan Alles, Mahendra Jayasekara and K. Balasundaram – with effect from 30 November 2012.

Alles, who is the Deputy CEO of HNB, will be a Non-Executive Non-Independent Director whilst Mahendra and Balasundaram are Non-Executive Independent Directors.

Alles has over 25 years of experience in banking including 15 years of overseas assignments. He is an Associate Member of the Institute of Bankers of Sri Lanka and a Member of Sri Lanka Institute of Directors. He holds a first class MBA from the University of Stirling, Scotland.

Alles is also an appointed Director of Sithma Development, Acuity Partners, Acuity Stockbrokers and Lanka Ventures in addition to being a trustee of HNB Retirement Fund.

Mahendra is the Managing Director at Lanka Floortiles Plc, an appointment since January 2002 having joined the Company as an Executive Director in August 1997.

In April 2008, he was appointed Managing Director of Lanka Walltiles Plc, the holding company of Lanka Floortiles Plc. He is also the Managing Director of Swisstek (Ceylon) Plc., Switsstek Alumninium Ltd., and a Director of Lanka Ceramic Plc.

He holds a BSc Special (Hons) degree in Business Administration from the University of Sri Jayawardenapura and is a Fellow Member of the Institute of Chartered Accountants of Sri LAnka. Balasundaram is currently the CEO of Mercantile Merchant Bank Ltd. In addition to being a Director of Mercantile Merchant Bank Pathfinder Group of Companies, he serves on the Boards of Mountain Hawk Express Ltd., (a joint venture with Hayleys Plc), MMBL Money Transfer Ltd., ( a joint venture with Aitken Spence Plc), and Saffron Airlines Ltd., (a joint venture John Keells Holdings Plc).

He has over 45 years of experience in finance. He has gained experience in corporate finance by serving in manufacturing and service industries including statutory boards, BOI companies and public quoted companies.

Following the latest appointments, the Board of Directors of HNB Assurance Plc comprises R. Jayamaha (Chairperson), Manjula De Silva (Managing Director), R. Theagarajah, M.U. De Silva, P. De Silva, S.C. Ratwatte, A.J. Alles, J.A.P.M. Jayasekera and K. Balasundaram.