Ex-CEO, ex-Vardhana CEO and Lalit appointed to DFCC Board

Thursday, 15 October 2015 00:05 -     - {{hitsCtrl.values.hits}}


DFCC Bank yesterday announced three new appointments to its Board of Directors including the former longstanding CEO and former CEO of Vardhana Bank, which was amalgamated with the parent recently.

Of the three appointments, two – Nihal Fonseka and Lalit N. de S Wijeyeratne – are Non-Executive Directors, whilst former Vardhana Banka CEO and currently DFCC Bank Deputy CEO Lakshman Silva has been made an Executive Director.

DFCC also announced that existing directors Ananda Athukorala and T. Dharmarajah now qualify as Independent Directors subsequent to the amalgamation of Vardhana and DFCC.

Fonseka was the former CEO of DFCC until September 2013 and former chairman of several DFCC Group companies. He was a Director of DFCC Vardhana Bank from February 2009 and September 2015. Fonseka is currently a Director on John Keells Holdings Plc, Chairman, Group Audit Committee of Brandix Lanka Ltd., and President of the Sri Lanka National Advisory Council of the Chartered Institute of Securities and Investments UK. He was a past Chairman of the Colombo Stock Exchange and Association of Development Financing Institutions of Asia and the Pacific and a member of the Presidential Commission on Taxation (2009).

Wijeyeratne is a Fellow of the Institute of Chartered Accountants in Sri Lanka and counts over 35 years of experience in finance and general management both in Sri Lanka and overseas. He was the former Group Finance Director of Richard Pieris Plc and also held senior management positions at Aitken Spence and Company, Brooke Bonds Ceylon Ltd., and Zambia Consolidated Copper Mines Ltd. He also served as Independent Director and Audit Committee Chairman of DFCC Vardhana Bank Plc during October 2008 to September 2015.

He is a member of the Quality Assurance Boiard and the Corporate Governance Committee of the CA Sri Lanka and was former member of the Sri Lanka Accounting Standard Monitoring Board. He is presently an Independent Director and Audit Committee Chairman of several listed entities.

Lakshma Silva is the Deputy CEO of DFCC Bank with effect from 1 October 2015. He was the CEO and Executive Director of DFCC Vardhana Bank during January 2010 to September 2015. Silva was seconded to the service of DFCC Vardhana Bank in 2003 from DFCC Bank and functioned as COO of DFCC Vardhana Bank from 2003 until his appointment as CEO in January 2010.

He holds a Bachelor of Commerce Special Degree from the University of Kelaiya and Master of Business Administration from the Postgraduate Institute of Management of University of Sri Jayawardenapura.

He is a Director of Lanka Financial Services Bureau and a Past President of the Association of Professional Bankers of Sri Lanka. He started his professional career with the Department of Inland Revenue and joined the DFCC Group in 1987.

With the latest appointments and changes, the Board of DFCC Bank Plc comprises C.R. Jansz (Chairman), K.D.N.R. Asoka, P.M.B. Fernando, T. Dharmararajah, S.R. Thambiayah, K.P. Cooray, A.W. Athukorala, V.J. Seneratne, L.N. de S. Wijeyeratne, A.N. Fonseka and L.H.A.L. Silva.