HNB ramps up Board with ex-MDs of Commercial and Sampath

Wednesday, 3 April 2024 00:40 -     - {{hitsCtrl.values.hits}}

  • Industry analysts rate move as unprecedented and shows strong intent of HNB

S. Renganathan
Nanda Fernando

In what appears to be a move signalling strong intent, Hatton National Bank PLC has appointed two former Managing Directors of leading commercial banks to its Board of Directors.

HNB announced the appointment of Commercial Bank, the biggest private sector bank former Managing Director S. Renganathan and Sampath Bank, the third largest private sector bank former Managing Director Nanda Fernando to its Board as Independent Non-Executive Directors.

Industry analysts described the twin appointments of veteran and professional bankers as unprecedented and would bolster HNB’s expertise and experience at Board level thereby leading to further excellence. Previously HNB’s Board’s sole ex-banker was People’s Bank former CEO/General Manager Rasitha Gunawardana with over three decades experience.

With the latest appointments, the HNB Board comprises Chairman Nihal Jayawardene, Managing Director/CEO Jonathan Alles, Madhu Ratnayake, Dr. Prasad Samarasinghe, D. Cooray, O. Chandrawansa, P. R. Saldin, Kithsiri Gunawardena, Rasitha Gunawardana, S. Renganathan and Nanda Fernando.

Renganathan was the former Managing Director/CEO of Commercial Bank of Ceylon PLC and had held several key positions in the Bank. Renganathan served as the Managing Director and a Board Member of the Commercial Development Company PLC, and Commercial Bank of Maldives Ltd. as the Deputy Chairman.

Renganathan has served among others, as a Member of the General Council of the Institute of Bankers of Bangladesh, Founder President of the Sri Lanka Bangladesh Chamber of Commerce and Industry, Executive Member of the Foreign Investors Chamber of Commerce and Industry in Bangladesh.

He is a senior banker counting over 41 years and has led Commercial Bank’s acquisition of the banking operations of Credit Agricole Indosuez in Bangladesh. He was the first Chief Risk Officer of the Bank and has held positions as the Deputy General Manager in charge of Bank’s island wide branch network and Chief Operating Officer.

He served as an Executive Director in the Board of Directors of the Commercial Bank of Ceylon PLC for nearly eight years.

He was also a Director of the Lanka Financial Services Bureau Limited and the Sri Lanka Banks’ Association (Guarantee) Ltd., Further, he also served as a Council Member of the Employers Federation of Ceylon, Executive member of the Council for Business with Britain, Vice Chairman of the International Chamber of Commerce Sri Lanka, and Executive Member of the Ceylon Chamber of Commerce.

He is presently serving as a Member of the International Chamber of Commerce Sri Lanka Policy Advocacy Committee, Sri Lanka Institute of Directors and the Vice President of the Sri Lanka India Society.

Renganathan currently serves as an Independent Non-Executive Director at Sunshine Holdings PLC, Sunshine Healthcare Ltd., Agility Innovations Ltd., Janashakthi Insurance PLC, Ceylon Hospitals PLC, Lina Spiro Ltd., Lina Manufacturing Ltd., Healthguard Ltd., Deputy Chairman of Damro Holdings Ltd, Chairman of Marino Leisure Holdings Ltd.

Renganathan is a Fellow of the Chartered Institute of Management Accountants, UK (FCMA), Chartered Global Management Accountant (CGMA), Fellow of the London Institute of Banking & Finance, UK (FLIBF) and a Fellow of the Institute of Bankers Sri Lanka (FIB), and had received extensive Leadership, Management and Banking training locally and in overseas.

Fernando is a banker with over four decades of experience in banking. He was attached to Sampath Bank as its Managing Director. He served Sampath Bank for 36 years from the year of its inception.

 He currently serves as a Business Consultant. He is the Managing Director of Professional Business Consultants, a company engaged in providing financial planning and advisory services. He is also a Director of Haycarb PLC, Dipped Products PLC, Hayleys Fabric PLC, Lanka Bangla Finance PLC, and LankaBangla Securities PLC.

He is engaged in uplifting productivity in companies, resulting in increased stakeholder benefits. He possesses a proven track record of strategic leadership, business growth, and exceptional financial performance. He provided effective leadership to Sampath Bank, utilising his expertise to drive organisational success and deliver exceptional value to stakeholders.

He is also well known for his proven professional skills in Financial Management and Analysis, Business Development and Growth, Risk Management and Compliance, Team Leadership and Talent Development, Operational Excellence, Stakeholder Engagement, and Relationship Management.

He is a Senior Fellow of the Institute of Bankers Sri Lanka and possesses a Master of Business Administration from Sikkim Manipal University, India. He is a product of S. Thomas’ College, Mount Lavinia.