Union Bank appoints former CB Deputy Governor to Board

Union Bank yesterday announced the appointment of Priyantha Damian Fernando as a new independent director of the bank’s Board of Directors with effect from 2 November 2011.

Fernando has more than 35 years of experience in the banking sector. He was attached to the Central Bank of Sri Lanka serving in senior and diverse capacities where he rose to the position of its Deputy Governor.

As the Deputy Governor, Fernando was in charge of Central Bank’s core function area of maintaining financial stability in Sri Lanka, corporate services including information technology and finance and headed the investment committee of the Employees Provident Fund.

At the Central Bank he was also the Chairman of the Financial Stability Committee, member of the Monetary Policy Committee, member of the Risk Management Committee, Chairman National Payment Council and the Chairman of Business Continuity and Crisis Management Committee.

During his tenure at Central Bank of Sri Lanka he served as the Assistant Governor (2005-2009), Director of Information Technology (2000-2004), Deputy Director Statistics (1991-1999), Head National Accounts Division and Head Sample Surveys and Statistical Analysis Division (1983-1990).

During his career he was instrumental in initiating and spearheading several key projects, of national importance especially in the areas of the national payments system infrastructure development,  including a system for rapid clearing and settlement of cheques based on advanced IT and Communication Technology, the Lanka Settle system for settlement of inter-bank payments on own accounts of banks as well on account of the bank’s third party customers, the establishment of first local SWIFT Service Bureau and Digital Certification Services for the financial sector.

He has served high level public sector committees and was ex-officio board member in several regulatory organisations in Sri Lanka, namely the Securities Exchange Commission and the Insurance Board of Sri Lanka. Fernando holds a Masters degree in Statistics from the University of Birmingham, UK and a BSc from the University of Peradeniya.

“Priyantha Fernando’s impressive banking experience in diverse areas makes him a valued addition to Union Bank and we look forward to his contribution to the bank’s continued success,” said Union Bank Chairman Ajita De Zoysa.

Union Bank is one of Sri Lanka’s fastest growing banks focusing on the Small and Medium Enterprises (SME) and retail sectors with a rapidly expanding branch network of 27 branches and diversified business interests in Asset management and Finance with the acquisition of National Asset Management Limited (NAMAL) and The Finance & Guarantee.

With the latest appointment, the Board of Directors of Union Bank comprises Ajita De Zoysa (Chairman), Alex Lovell (Deputy Chairman), Anil Amarasuriya (CEO), B.A.L. De Silva, A.S. Amarasuriya, A. Wijeyesekera, A.W. Atukorala, K.L. Chong, G.E.K. Lim, Y.J. Toh, M.A. Omar, A.S. De Zoysa, L.S. Goh (Alternate to G.E.K. Lim), K.T.B. So (Alternate to Y.J. Toh), S.L. Chiew (Alternate to K.L. Chong), F.A.A.A.F. Al Saud Prince, L.J.S.H. Cabral and D.N. Bartholomeusz (Alternate to Prince F.A.A.A.F. Al Saud).