AMF appoints new Board post LB Finance acquisition

• LB Finance veterans G.A.R.D. Prasanna is new Chairman and Niroshan Udage is Deputy Chairman

Following the acquisition by LB Finance PLC, Associated Motor Finance Company PLC (AMF) has appointed a new Board, with G.A.R.D. Prasanna as Chairman/Non-Executive Director and Niroshan Udage as Deputy Chairman/Executive Director.

Other Board members include Piyal Hennayake as Senior Director/Independent Non-Executive Director, B.D.A. Perera as Non-Independent Non-Executive Director, and Ashwini Natesan and Prof. Nandika Kasun De Zoysa as Independent Non-Executive Directors.

Prasanna has extensive experience in various business management strategies and is a business leader with a diverse background in manufacturing, banking and finance, leisure, plantations and hydropower generation. He has many years of experience in managing businesses and has gained substantial governance experience through his leadership of boards of both quoted and unquoted companies. He was the former Chairman of Pan Asia Banking Corporation PLC. His current Directorships include Chairman of LB Finance PLC, Managing Director of Wise Property Solutions Ltd., Non-Executive Director of Royal Ceramics Lanka PLC, Grandmark Ltd., and La Forteressee Ltd., and as a Director of several private companies.

Udage currently serves as the Managing Director of LB Finance PLC. His association with LB Finance began in 2004, when he joined as General Manager, Asset Finance. His dedication and strategic vision led to his appointment to the Board in 2007, and subsequently as Deputy Managing Director in 2021 and finally as its Managing Director in July 2025. With over 34 years of experience in the finance industry, Udage’s career includes a decade at Lanka ORIX Leasing Company PLC and three years at Mercantile Investments Ltd., before joining LB Finance PLC. His expertise spans credit, finance, risk management, and innovation, areas that have significantly contributed to the company’s continued profitability and strength. 

Udage holds a Bachelor’s Degree in Science from the University of Colombo. He has further enhanced his leadership capabilities through advanced training in Strategy and Management in Banking conducted by International Development Ireland Ltd., in Dublin and London. In 2012, he successfully completed the High Potentials Leadership Program at Harvard Business School, Boston, USA. Beyond his roles at LB Finance, Udage also serves as a Non-Executive Director of LB Microfinance Myanmar Company Ltd., and is a Council Member of the Finance Houses Association of Sri Lanka (FHA). His previous appointments include serving as a Director of Hayleys Fibre PLC and the Credit Information Bureau of Sri Lanka (CRIB), Chairman of the Finance House Association, and Member of the Financial System Stability Consultative Committee established by the Central Bank of Sri Lanka. 

Hennayake is an accomplished professional with over 40 years of experience spanning engineering, portfolio management, credit, project finance, branch network management, administration, real estate and consultancy. Hennayake holds over 26 years of senior level roles, including 20 years as a C-suite/KMP at Hatton National Bank PLC and Seylan Bank PLC, driving organisational growth, operational excellence, and strategic decision-making. Skilful at leading cross-functional teams, optimising portfolios, and steering complex ventures in both financial services and engineering. Hennayake currently serves as an Independent Non-Executive Director of L B Finance PLC. 

Natesan is a qualified legal practitioner specialising in Technology, Media and Telecommunications (TMT) Law. She provides consultancy on various TMT law matters, including financial technology (FinTech). She is the TMT Law Consultant at Julius & Creasy. She also engages in research projects related to data protection, data governance, privacy, online safety, the right to information, and AI governance, both independently and collaboratively with other organisations. Additionally, she is a Research Fellow at LIRNEasia, a think tank based in Sri Lanka. She regularly participates in national and international forums, speaking on broader issues of TMT law, platform liability, and financial tech regulation. In India, she previously worked with litigation and corporate law offices.

Natesan holds an LL.M. (Master of Laws) in International Business Law from the Faculty of Law, National University of Singapore, graduating among the top students of the batch. She earned her Bachelor of Arts and Law degree (B.A. LL.B. (Hons.)) with a Distinction from the School of Excellence in Law at Tamil Nadu Dr. Ambedkar Law University, Chennai, India. Additionally, she has diplomas in International Business Management (Loyola Institute of Business Administration, India), Commercial Arbitration (ICLP, Sri Lanka) and AI Policy (Centre for AI and Digital Policy). In 2024, she was selected for the University of Oxford’s Media Policy Institute. She is also a part of the Digital Trust Alliance. Natesan currently serves as an Independent Non-Executive Director of LB Finance PLC.

Perera is an Associate Member of the Chartered Institute of Management Accountants (ACMA), CGMA (UK) and holds a BSc (Business Administration) Special Degree from the University of Sri Jayewardenepura. He successfully completed the High Potentials Leadership Program in 2012 at Harvard Business School in Boston, MA, USA. With over 27 years of experience in the leasing industry, Perera’s career includes positions at Commercial Leasing Company Ltd., Lanka Orix Leasing Company PLC and a Merchant Bank in Bangladesh. Perera currently serves as the Senior Director/Deputy Chairman of Pan Asia Banking Corporation PLC, Executive Director of LB Finance PLC and Non-Executive Director of LB Microfinance Myanmar Company Ltd. 

Prof. De Zoysa is the Deputy Director and Coordinator of the Digital Forensic Centre at the Colombo University School of Computing. He holds a Ph.D. in Computer Science from Stockholm University, Sweden and possesses over twenty-five years of experience spanning academia, industry, and national cybersecurity initiatives. Prof. De Zoysa has provided advisory and consultancy services to leading financial institutions and government agencies in the areas of information security, digital forensics, and technology risk management. He has played a pivotal role in developing cybersecurity frameworks and capacity building programs for the banking and finance sector. A widely published researcher with over 1,400 academic citations, an h-index of 17, and an i10-index of 30, Prof. De Zoysa is recognised for his expertise in cybersecurity and national digital infrastructure resilience.