MBSL gets new Chairman, Board of Directors

Dr. Sujeewa Lokuhewa has been appointed as the new Chairman of Merchant Bank of Sri Lanka & Finance PLC and will assume duties on 29 July. Dr. Lokuhewa is currently the Chairman/Managing Director of the Universal Group, a diversified conglomerate.

He has over 30 years’ industry experience and has held many middle and senior level positions in the financial and real estate sectors. Dr. Lokuhewa also previously held the position of Group Director/CEO at EAP Regent Group. He holds an honorary doctorate in Business Administration from the open International University of Greece.

Along with the appointment of Dr. Lokuhewa as the non-executive independent Chairman of MBSL, a new Board was also appointed comprising eight other Non-Executive Directors. Niroshana Perera, Sunil Dayaratne, Sandun Arsakularatne and Denzil Fonseka were appointed in an Independent capacity while C.N. Wijewardane, K.B.S. Bandara, D.M. Gunasekera and W.P.R.P.H. Fonseka were appointed as Non-Executive, Non-Independent Directors.

Merchant Bank of Sri Lanka & Finance PLC, incorporated in March 1982, is the pioneer investment/merchant bank in Sri Lanka and was quoted on the Colombo Stock Exchange in 1991. With a dedicated staff of around 850 employees working in the areas of corporate advisory and capital markets, savings, fixed deposits, leasing, corporate and retail credit, MBSL now has 49 branches and service centres in all the major cities in the country.

MBSL’s largest shareholder is the Bank of Ceylon which holds a strategic stake of 74% and in 2005 entered into a strategic alliance with SBI Capital Markets Limited, which is the largest investment bank in India.