Asoka De Silva appointed Deputy Chairman of Union Bank

The Board of Directors of Union Bank of Colombo PLC announced the appointment of experienced banker Asoka De Silva as Deputy Chairman of the Bank following a meeting held on 26 October. 

De Silva’s appointment comes in the wake of the retirement of Alex Lovell from this position with effect from September 2016, having completed his nine-year service period as per the corporate governance rules of the Central Bank of Sri Lanka.

Asoka De Silva was appointed to the Board of Directors of Union Bank in 2008 and has been serving on the Board for nearly eight years. Prior to being appointed as Deputy Chairman of Union Bank in October 2016, Asoka De Silva has served as Deputy Chairman of Union Bank previously during the period of December 2008 – December 2010 and again during May 2012 to November 2014 and has been serving on the board as Senior Director/Independent Non-Executive Director from 2009.  

De Silva carries over 35 years of experience in the banking industry and has served as the Chief Executive Officer/General manager of People’s Bank. He holds a bachelor’s degree with honors from the University of Ceylon, and is a Fellow of the Certified Institute of Professional Management, (FCPM) Sri Lanka. 

De Silva who was awarded a prestigious Honorary Fellowship from the Institute of Bankers Sri Lanka, in recognition of his contribution and leadership provided in restructuring and strengthening the People’s Bank (second largest State-owned commercial bank), also holds a Management Development Certificate awarded by the Post Graduate Institute of Management, University of Sri Jayewardenepura as well as Project Analysis and Project Management Certificates awarded by the Arthur D. Little School of Management (Massachusetts – USA).

A former Director of CRIB (Credit Information Bureau of Sri Lanka), People’s Leasing Company PLC, People’s Travels (Pvt) Ltd and People’s Merchant Bank PLC, De Silva was also a member of the Governing Board of Institute of Bankers of Sri Lanka. He was also a director of Sarvodaya Economic Enterprise Development (Guarantee) Ltd. Formerly, a Vice Chairman of Sri Lanka Banks’ Association (Guarantee) Ltd, as well as Deputy Chairman of Lanka Financial Services Bureau Ltd., De Silva was also a committee member of the Financial Sector Cluster of the National Council for Economic Development, National Payment Council and Steering Committee of the financial market programme for private sector development during his tenure as CEO/ GM in the People’s Bank.

Previously, a governing council member of the University of Peradeniya, he is presently a member of the Faculty Board (Faculty of Management and Commerce) of the University of Sri Jayewardenepura and also a Council member of the University of Ruhuna, Matara. De Silva is also an Alumni of the Harvard Business School (AMP 163), USA.