Theagarajah appointed Chairman of Colombo Trust Finance

Veteran banker Rajendra Theagarajah has been appointed as the Chairman of Colombo Trust Finance Plc, part of Cargills Group.

He succeeds Mangala Boyagoda who has stepped down but will remain on the Board as a Non Independent, Non Executive Director. Colombo Trust Finance was formerly Capital Alliance Finance.

Theagarajah is also the Deputy Chairman of Cargills Bank, which owns 80.3% stake in the finance company.

Theagarajah counts over 33 years in banking both locally and overseas. Previously he was the Director/CEO of the National Development Bank from August 2013 to November 2016 and CEO/MD at Hatton National Bank for nine years.

Colombo Trust Finance also announced that Sarojini M.G. Dunuwille has resigned as Non Independent Non Executive Director with effect from 1 February 2017.

With the changes, the new Board of Colombo Trust Finance Plc comprises of R. Theagarajah, E.M.M. Boyagoda, L.D.R. Hettiaratchi, P.S. Mathavan and P.P. Edirisinghe.