Damith Pallewatte appointed Chairman of Lanka Ventures and LVL Energy Fund

Thursday, 9 December 2021 00:00 - - {{hitsCtrl.values.hits}}

Damith Pallewatte

Senior banker, Damith Pallewatte, who counts over 25 years of experience in key leadership positions at three of Sri Lanka’s leading banks, has been appointed the Chairman of Lanka Ventures PLC and LVL Energy Fund PLC.

Pallewatte, whose appointment is effective from 26 November, will also serve as a Non-Independent and Non-Executive Director of the two companies, both of which are listed on the Colombo Stock Exchange (CSE).

Lanka Ventures PLC (LVL) is a venture capital company incorporated in 1992 having current majority shareholding with Acuity Partners Ltd., a joint venture company equally held by Hatton National Bank PLC and DFCC Bank PLC. In June 2006 LVL formed a fully-owned subsidiary under the name LVL Energy Fund (Private) Ltd. (LEF) to channel its investments in the energy sector.

Pallewatte holds a MBA from the Postgraduate Institute of Management (PIM), University of Sri Jayewardenepura as well as a wide array of globally-recognised professional qualifications. At present, he serves as the Deputy General Manager (DGM) – Wholesale Banking Group of HNB PLC, overseeing several critical business verticals including corporate banking, emerging corporates, trade finance, financial institutions, Islamic banking, transaction banking and project finance.

Pallewatte is a Certified Financial Risk Manager (FRM) from the Global Association of Risk Professionals (GARP) and is an ACI Operations Certificate Holder from Financial Markets Association – France. An Associate Member of the Chartered Institute of Management Accountants (ACMA) – UK and a Chartered Global Management Accountant (CGMA), Pallewatte read for his Bachelor of Science (BSc) in Management (Honours) degree at the prestigious London School of Economics (LSE), University of London.

A former Chief Risk Officer (CRO)/Chief Information Security Officer (CISO) of HNB PLC, Pallewatte, has also held senior positions at other leading banks and currently serves as a Director of Acuity Partners Ltd. (APL), a full-service investment bank promoted as an equally-owned joint venture between HNB and DFCC Bank. The senior banker is also a Director of Acuity Securities Ltd. a member of the APL Group and an appointed Primary Dealer.

As a top professional, Pallewatte has contributed at a regional level for several leading professional and industry bodies. He was appointed to the MESANA Regional Advisory Panel of the Association of International Certified Professional Accountants (AICPA) for 2020/21 by the Chartered Institute of Management Accountants (CIMA) and elected Vice Chairman of CIMA Country Network Committee (CNC), Sri Lanka in 2021. He is a Past President of the Association of Banking Sector Risk Professionals, also Known as the ‘CRO Forum’.

Pallewatte also chaired a Technical Committee appointed to recommend technological advancements for the CRIB by the Central Bank of Sri Lanka (CBSL) in addition to holding a position as an Alternate Director of the Credit Information Bureau of Sri Lanka (CRIB). Notably, he was also been appointed as a banking industry representative by Sri Lanka Bankers’ Association (SLBA) and has contributed to the Committee established on the proposed Financial Assets Management Agency (FAMA).