From Pinnawela Central to PABC Bank Chairmanship

Ahead of Friday's AGM, Pan Asia Bank Plc (PABC Bank) Board of Directors yesterday appointed Nimal Perera as the Chairman and Eshana de Silva as the Deputy.

Nimal was previously the Deputy Chairman and was elevated as the incumbent senior banker A.G. Weerasinghe is up for retirement. The new appointments are effective from 2 April. PABC is controlled by top business leader Dhammika Perera and connected companies.  A high net worth investor and a young business leader, Nimal was first appointed to the PABC Board in September 2007 and was made Deputy Chairman in March 2008. For Nimal, the appointment is a new milestone in his journey that could be dubbed as “from Pinnawela Central (his school) to Pan Asia Bank Chairmanship.” Furthermore, it is also a saga from an Assistant Manager to Chairman at the same firm.     

    

Nimal originally joined PABC Bank as an Assistant Manager in charge of marketing and resigned two years later following a difference of opinion with the then management. After Samurdhi took control of PABC, Nimal rejoined as Senior Manager – Marketing and afterwards as PA to the then Chairman.

After the entry of Dhammika as an investor/shareholder, a move handled by Nimal, the latter once again moved out temporarily, before being appointed as a Director in 2007.

In 2011, PABC Bank produced its best-ever performance with Rs. 5.1 billion gross income, up by 48% over 2010 and after tax profit of Rs. 824 million, up by 128% over 2010.

With over 30 years of experience in the fields of finance, capital market operations, manufacturing, marketing and management services, Nimal serves as a Director in several public quoted companies.

He is the Managing Director of Royal Ceramics Lanka PLC. He also serves as the Group Finance Director of Amaya Leisure PLC and holds the position of Director at LB Finance PLC, Vallibel Finance PLC, Vallibel Power Erathna PLC, The Fortress Resorts PLC, Vallibel One PLC, Sathosa Motors PLC, Lewis Brown & Company Ltd., Hayleys PLC, Talawakelle Tea Estates PLC and Haycarb PLC. He is a member of the Sri Lanka Institute of Marketing.

New Deputy Chairman Eshana, also an emerging young business leader, joined the Board in July 2008. An experienced senior banker, Weerasinghe joined the PABC Board in June 2005 and was made Chairman in March 2008.

Other members of PABC Board are Sumith Adhihetty, Anthony Page, M.D.S. Goonatilleke, H.K. Seneviratne, Tharana Thoradeniya, T.C.A. Peiris (CEO) and N. Fernando (Company Secretary).

Eshana is the Chairman of Esna Holdings Ltd., Shermans Logistics Ltd., Shermans Transport Ltd., and is a Director at Board of Investment (BOI), Sri Lanka Ports Authority (SLPA), Esna Villas (Pvt) Ltd., Esna Power Ltd., Sherman De Silva & Co. Ltd., Mc Marine Ltd., Sherman Sons Ltd., Dimension X Ltd. and Honorary Consul General for Kazakhstan.

Weerasinghe was the former Deputy General Manager, Corporate Banking at Bank of Ceylon. He has served as Country Manager, Bank of Ceylon, London and Deputy General Manager, International at Seylan Bank. He was also a former President of Sri Lanka FOREX Association and a member of Sri Lanka Cricket Board.

He Holds a B.A. (Econ) Degree, from University of Ceylon, Peradeniya, served as an assistant lecturer in Economics, University of Ceylon, Peradeniya, and is an Associate and Fellow member of the Institute of Bankers, Sri Lanka.

He currently serves as a Director at George Steuarts Financial Services Ltd., South Asia Financial Excel Investments Ltd., Suncity Property Developers Ltd., Browns Investments Ltd., Suncity Residencies Ltd., New World Securities Ltd. and AgStar Fertilizers Ltd.