New independent director at UB Finance board

UB Finance Chairman Alexis Lovell, has announced the appointment of Nalin Fernando to the Board of Directors with effect from 10 January 2013.

Fernando joins the UB Finance Board as an Independent non-executive director.

Fernando counts for over 30 years of experience and exposure in the banking industry with extensive local and international experience, in the areas of risk management, product control, audit and a wide knowledge in operations and governance, within the banking sector.

His last appointment was at Deutsche Bank AG, Singapore as Director Regional Business Manager Group Audit Asia Pacific, and Country Head of Branch Audit Offices in Asia excluding Japan and Singapore.

Fernando has also been a member of the regional governance team of group audit, Asia Pacific and has pioneered governance audits in Asia for Deutsche Bank AG.

Appointment of independent directors is an integral part of the company’s good governance practices and important to the strategic interests of the Company.

Fernando’s appointment will bring valuable expertise and insights from the banking industry that will complement the mix of skills and experience on the Board to aid UB Finance in its further success.

The Board of Directors of UB Finance comprises Alexis Lovell (Chairman), Ananda Atukorala (Deputy Chairman), D.A.J. Warnakulasuriya, Daman Panditharatne, Davis Golding, Malinda Samaratunga, Ajith Wijeyesekera, Upali Wijeyesekera, Rohendra Wijeyesekera and Nalin Fernando.

The blend of expertise will no doubt transform UB Finance into a flagship brand in the financial services industry in Sri Lanka.

UB Finance was formed with the acquisition of The Finance and Guarantee by Sri Lanka’s premier financial institution Union Bank of Colombo and its international strategic investment partner, ShoreCap II.

It is licensed by the Central Bank of Sri Lanka to operate on the basis of delivering integrity and empowerment to its customers by providing a wide range of financial service offerings that include fixed deposits, savings, real estate, leasing, hire purchase, loans and pawning solutions.

UB Finance is also geared to be a key partner in Sri Lanka’s accelerated growth strategy to deliver economic and social value with a difference and be perceived as the finance company who understands the true emotions of Sri Lankans.