July 28, Colombo: Sri Lanka's top private bank Commercial Bank of Ceylon (CBC)said in a stock market disclosure Monday that it has decided to appoint deputy Chairman Dharma Dheerasinghe as chairman of the bank with effect from July 29.
He replaces outgoing chairman Dinesh Weerakkody who following Corporate Governance Rules of the Central Bank stepped down after completing nine years as the Chairman and a Director of the Bank.
The Bank's board at its meeting held today unanimously decided to appoint Dheerasinghe for the post.
Dheerasinghe, an eminent economist, was a former Senior Deputy Governor of the Central Bank and the Chairman of the Monetary Policy Committee and Sovereign Ratings Committee. He was appointed to the CBC's board in 2011 after his retirement from the Central Bank.
He was an Alternate Executive Director for Bangladesh, Bhutan, India and Sri Lanka at the International Monetary Fund (IMF).
The CBC also announces that M. P. Jayawardena, who was a board member since 2011, was appointed as the Deputy Chairman of the Board effective July 29.
Jayawardena currently serves as the Group Consultant at Chemanex after stepping down as the company's Managing Director in March 2013.
Commercial Bank of Ceylon is one of the leading commercial banks in Sri Lanka with 237 branches and 597 ATM and the bank has a subsidiary in Bangladesh.