BOC’s Sam new CEO at People’s Merchant

Senior banker C. Samarasinghe (Sam) has been appointed as the CEO of People’s Merchant Plc (PMB) with effect from 1 May.

He takes over at People’s Merchant after a long stint spanning 37 years at the Bank of Ceylon. Sam succeeds Rajeeva Bandaranaike, of CSE-fame.

Bandaranaike has announced his resignation from PMB after serving less than a year to take up a new opportunity.

Sam’s entry into PMB marks a shift from one state owned entity to a subsidiary controlled by another state bank giant. People’s Bank holds 26% stake in PMB whilst its subsidiary People’s Leasing owns a further 13%. Capital Trust Holdings is the major outside shareholder with a 20% stake.

Sam’s last post at BoC was as Additional General Manager, Product and Development Banking, held since July 2011.

Having joined BOC in 1975, Sam has served multiple positions including Deputy General Manager, Product and Development Banking from June 2007 to July 2011 and May 2006 to February 2007, Deputy General Manager Branches from September 2004 to May 2006 and Assistant General Manager, Support Services from September 2004 to May 2006 and AGM Retail Recovery from November 2002 to September 2004, Province Sales Management from August 2011 to November 2002 and Business Development and Card Centre from August 1999 to August 2001.

He also was the Chief Manager, Coordinator to DGM Operations from March 1996 to August 1999 and Senior Manager BoC Representative Middle East Region from 1992 and 1996.

Sam holds a Bachelor’s Degree in Arts (Special) with a 2nd Class from the University of Colombo and also holds a Bachelor of Philosophy in Economics from the University of Colombo.He is an Associate of Institute of Bankers of Sri Lanka.