Russel Fonseka BoC’s next GM /CEO

Bank of Ceylon (BoC), yesterday (15) announced Russel Fonseka as its next General Manager/Chief Executive Officer. Having joined the BoC in 1990, Fonseka has served the premier state bank for 33 years and is currently its Additional General Manager and the CEO. He will succeed K.E.D. Sumanasiri, who will be retiring on 13th January 2023 after a successful stint as the General Manager/CEO.

The BoC stated: Fonseka is a career banker who over the years has successfully steered and given leadership to the various divisions that came under his purview. He has held the positions of Chief Financial Officer, Head of Finance and Planning, Head of International, Treasury and Investments, Head of Retail Banking and Head of Corporate and Offshore Banking. His exposure to many areas of banking would be a distinct advantage as he faces the task of steering the premier bank in Sri Lanka during what looks to be the most turbulent period the country and the globe has faced in recent times.

He holds a B.Sc (Special) degree in Business Administration from the University of Sri Jayewardenepura and a MBA from the University of Southern Queensland, Australia. He has completed the Advanced Management Programme at Harvard Business School, USA as a part of grooming of selected individuals under Bank of Ceylon’s succession planning. He is a senior fellow member of the Institute of Bankers of Sri Lanka and a fellow member of the Institute of Chartered Accountants of Sri Lanka. He serves as a member of the Sri Lanka Accounting and Auditing Standards Monitoring Board and is the immediate past president of the AAT Sri Lanka. He is a director on the boards of a number of Bank of Ceylon’s associate and subsidiary companies.”