HNB adds largest shareholder and two others to Board

Lahiru Malik Lokuwithana	Murtaza Jafferjee	Rachini Rajapaksa

Hatton National Bank PLC (HNB) has announced the appointment of three new additions to its Board of Directors with effect from 1 June. 

They are Lahiru Malik Lokuwithana as a Non-Independent/Non-Executive Director, Murtaza Jafferjee as an Independent/Non-Executive Director, and Rachini Rajapaksa as an Independent/Non-Executive Director.

Lokuwithana represents the interests of Ceylon Steel Corporation Ltd., the largest owner of a voting stake at 9.99%

He is the Managing Director of Ferentino Tyre Corporation and possesses extensive experience in manufacturing, engineering management, international business operations, strategic planning, and corporate governance. He currently serves on the Boards of several leading enterprises within one of Sri Lanka’s largest diversified industrial groups, with interests spanning steel manufacturing, cement production, tyre manufacturing, hospitality, and international trading operations.

Lokuwithana graduated with First Class Honours in Master of Engineering (MEng) in Mechanical Engineering with Engineering Management from the University of Southampton, UK. His academic background has provided a strong foundation in engineering, operational management, business strategy, and organisational leadership.

Since 2020, he has served as the Managing Director of Ferentino Tyre Corporation and its international operations, where he oversees large-scale manufacturing activities, international sales, supply chain management, finance, performance monitoring, and strategic business expansion. Under his leadership, the organisation has strengthened operational excellence, quality management systems, cost controls, and international market development initiatives.

In addition to his executive responsibilities, Lokuwithana serves as a Director of Ceylon Steel Corporation Ltd., and Lanwa Sanstha Cement Corporation Ltd., providing Board-level oversight on corporate strategy, operational performance, financial management, governance, engineering excellence, and organisational development. He actively participates in the review of key performance indicators, risk management processes, capital investment decisions, and long-term business planning across the Group.

Lokuwithana also oversees international business operations, including warehousing, distribution, sales, and customer relationship management across multiple jurisdictions. His exposure to global markets and international business practices has enabled him to develop strong expertise in strategic decision-making, stakeholder management, operational governance, and sustainable business growth.

With his combination of technical expertise, business acumen, international exposure, and corporate leadership experience, Lokuwithana brings valuable insight and strategic perspective to Board deliberations. His appointment would further strengthen governance, stakeholder representation, and long-term value creation within the institution.

Jafferjee is the CEO of JB Securities Ltd., and Chairman of the Advocata Institute. He combines three decades of capital market experience with over 10 years in public policy discourse. He has served as a Director of the Colombo Stock Exchange, Nations Trust Bank, and Serendib Hotels PLC. He is a Past President of the CFA Society of Sri Lanka. 

Jafferjee holds a Bachelor’s degree in Mechanical Engineering and Computer Science from the University of New South Wales, Australia, and a Master’s degree in Financial Economics from the University of Colombo. He is also a Chartered Financial Analyst (CFA) and holds a Certificate in Economic Development from Harvard Kennedy School.

Rajapaksa, a Fellow Member of the Chartered Institute of Management Accountants, UK and a CFA of the CFA Institute (US), counts over 30 years of experience in the fields of fund management and finance.

At present, Rajapaksa serves as an Independent Non-Executive Director at Sri Lanka Accounting and Auditing Standards Monitoring Board, First Capital Holdings PLC, Asia Siyaka Commodities PLC, Kelani Tyres PLC, and a few unlisted entities.

Previously, she has also served as a Director at Nations Trust Bank PLC and CFA Society Sri Lanka.

Other members of the HNB Board are Suresh Shah (Chairman), Damith Pallewatte (MD/CEO), T.K.D.A.P. Samarasinghe, R. Gunawardana, D. Cooray, S. Renganathan, Nanda Fernando, and P.D.V.P.K. de Almeida.