Jayantha S B Rangamuwa, has been elevated to the post of chairman of Pan Asia Bank with effect from May 2, 2021. He is the natural choice to lead the bank’s aggressive growth journey to the forefront of the industry.
Jayantha Rangamuwa is an experienced professional with expertise in management, finance, credit and marketing with over 30 years of senior management exposure having held key positions at strategic and operational levels. He will take over the reins of the Bank from the outgoing chairman, G A R D Prasanna, who announced his retirement with effect from May 1, 2021 from the Board of Pan Asia Bank after completing his term as a director.
He was appointed to the Board of Pan Asia Bank as director in August 2014 and as deputy chairman in January 2018. Rangamuwa has been the Managing Director of Vallibel Finance since its re-launch and Managing director of Vallibel Properties (Pvt) Ltd. He is credited with driving the exponential growth of Vallibel Finance. He is a former Director of Mercantile Investments PLC and also had stints at Central Finance and Ernst & Young.
A Fellow of the Chartered Institute of Marketing (UK), he is a member of the Institute of Management Accountants (Australia) and has an MBA from the University of Southern Queensland. He is also a Fellow of the Sri Lanka Institute of Credit Management and holds a Post Graduate Diploma in Finance Administration from the Institute of Chartered Accountants of Sri Lanka and a Certificate in Foundation studies (Sports) from Unitec, New Zealand.
In yet another significant appointment, veteran banker, Aravinda Perera will be taking over as the Deputy Chairman from May 2, 2021. Appointed to the Pan Asia Bank Board in August 2017, he counts over 37 years in the banking sector and functioned as the Managing Director of Sampath Bank PLC from January 1, 2012, until his retirement in September 2016.
Presently he is the Managing Director of Royal Ceramics Lanka PLC and chairman of Singer Finance (Lanka) PLC. He is a director of Hayleys PLC, Hayleys Aventura (Private) Ltd., Fentons Ltd. and Hayleys Advantis Ltd. He is also a former Governing Board Member of the Institute of Bankers of Sri Lanka and Past President of Association of Professional Bankers, Sri Lanka.
Perera was honoured with the ‘CEO Leadership Achievement Award 2016’ by the Asian Banker and was also the recipient of the prestigious ‘Platinum Honours – 2014’ award by the Postgraduate Institute of Management Alumni (PIMA) of Sri Jayewardenapura University. He was also honoured with the ‘Award for the Outstanding Contribution to the Banking Industry – 2015’ by the Association of Professional Bankers and was also awarded an Honorary Life Membership by the Association of Professional Bankers in October 2018.
He is a Member of the Institute of Engineers of Sri Lanka (MIESL) and a Chartered Engineer (C.Eng.). He is also a Fellow of the Chartered Institute of Management Accountants (UK) (FCMA) and a Fellow of the Institute of Bankers – Sri Lanka (FIB). He also holds an MBA from the Post Graduate Institute of Management.
Going from strength to strength, Pan Asia Bank is positioned firmly as the ‘Truly Sri Lankan Bank’.
HNB supports Sri Lanka Welfare Society of Blind Women
Supporting the livelihoods of visually impaired women, Sri Lanka’s most customer friendly bank HNB PLC donated 300 white canes and dry ration packs to the members of the Sri Lanka Welfare Society of the Blind Women.
The donations made utilizing voluntary contributions gathered by HNB employees, were handed over to members of the Society at a special event at HNB Towers under the patronage of HNB Managing Director and CEO Jonathan Alles.
“HNB is proud to partner with the Sri Lanka Welfare Society of the Blind Women to serve the visually impaired women of the country. Our goal is to do our part in ensuring they are given opportunities, recognition and respect that are equal to every other citizen, and we hope that partnerships of this nature will pave the way for a more inclusive and caring society,” HNB Managing Director and CEO, Jonathan Alles said.
With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. Over the recent past, the bank was ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.
HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka Award for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.
Rizing, LLC acquires attune Lanka from MAS Holdings
MAS Holdings announced today, that in line with its long-term strategic objectives, it has concluded the acquisition of its subsidiary attune Lanka (Private) Limited by Rizing, LLC. Rizing is a privately held, US-based boutique firm specializing in providing SAP solutions for Consumer Industries, Enterprise Asset Management and Human Capital Management worldwide.
In 2018, MAS Holdings completed an assignment with a leading global consultant to develop a long-term strategic plan, which identified areas of growth based on its core competencies and in the adjacent areas of Femtech and Wearable technology. The divestment of attune was an outcome of this plan, with the intent of finding the right partner for the Company to enable it to scale and grow.
This is a significant investment in a Sri Lankan-owned global technology firm by a company that is backed by a large private equity fund from the US, which will undoubtably help attune to scale and strengthen its business in the years to come.
“The acquisition by Rizing ensured that attune would benefit from Rizing’s global scale and expertise, and that their customers and employees continue to thrive as part of a leading solutions provider in the fashion and consumer industries” stated Mahesh Amalean, Chairman MAS Holdings. He also added that MAS would continue its close partnership with Rizing and attune in terms of the ongoing implementation and support for SAP products and services across MAS SBU’s in Sri Lanka and overseas.
Mike Maiolo, CEO of Rizing stated that “Customers from both organizations benefit from this partnership. Now two of the top SAP partners in Consumer Industries and Fashion are a united force to deliver unmatched value through combined experience, expertise and scale”. A leading provider of systems solutions and implementation services for SAP and with offices in North America, Europe, Asia and Australia, Rizing is headquartered in Stamford, Connecticut, and has been on an aggressive mergers and acquisitions plan since 2018, acquiring several US-based and global firms.
“This merging of Rizing’s and attune’s industry knowledge and experience will provide our long-term valuable clients with access to exciting new technologies and talented resources” said Vajira de Silva, the CEO of attune, adding that “The strength of the combined companies will allow us to grow into new markets and augment our products and services to better address the needs of existing and new clients”. attune Lanka has subsidiaries in India, Australia, China, HK, Italy, Germany, UK, US and Netherlands, with over 500 employees worldwide.
Standard Chartered Bank’s global M&A advisory team acted as the sole advisor to MAS Holdings on this transaction.
People’s Insurance enters Medical Insurance market with ‘the most comprehensive medical insurance cover available in Sri Lanka’
In an unprecedented effort to enhance its product offerings to customers across Sri Lanka, People’s Insurance PLC recently announced its plans to diversify into the health insurance space of the country. This strategic move to establish its presence as a health insurance provider builds on the well-established public image of People’s Insurance as the insurer who cares with love.
As the market is already heavily saturated with health insurance products offered by the competition, Peoples Insurance had the strategic objective of offering a product to make them stand out from the rest. Following a customer first approach, the insurer has decided to be a step above its competitors by offering a highly comprehensive medical insurance cover available in the country.
Citizens of Sri Lanka and those individuals who currently reside in the country are eligible to obtain a medical insurance cover from People’s Insurance. Individuals can be covered from their 5th birthday onwards. However, infants from the age of 3 months can also be protected by these covers provided that their parents have a medical cover from People’s Insurance too.
Jeevani Kariyawasam, the Head of Operations at People’s Insurance PLC commented on this new development, “When People’s Insurance PLC began to contemplate our entry into the health insurance sector, we knew we had to be different. As we are known as the only insurer who cares with love, our health insurance product had to reflect this strongly. Due to this, we decided to position ourselves as an insurance provider with a highly comprehensive product in the health insurance space. With affordable premiums, we have made every effort to ensure that Sri Lankans can enjoy the peace of mind that health insurance brings about.”
Medical schemes will vary from Rs. 100,000 to Rs. 2 million and premiums will depend on the sum insured, along with the customer’s age band. It is also noteworthy that the geographical scope of treatment extends beyond Sri Lanka and into India as well. Costs related to ambulance call outs, inpatient proceedings, surgical treatments, pharmaceuticals, diagnostics and pre and post hospitalization expenses are just a few of the areas that this comprehensive product covers.
As People’s Insurance PLC has a trusted and well established name in the minds of Sri Lankan customers, it is expected that their entrance into the medical insurance sector will be welcomed by citizens across the island. With the underlying goal of caring for its customers beyond anything else, this new development will allow for more Sri Lankans access to proper healthcare services. This decision truly resonates with a purpose beyond profit initiative.
AG says no legal impediment to Bathiudeen attending Parliament
Warning shot from Darley Road
Foreign policy dilemmas increase for the big and small
7-billion-rupee diamond heist; Madush splls the beans before being shot
The Burghers of Ceylon/Sri Lanka- Reminiscences and Anecdotes
Unfit, unprofessional, fat Sri Lankans
Sports1 day ago
How Arjuna spotted and nurtured Praveen Jayawickrama’s talent
Opinion5 days ago
Banning fertiliser imports and agricultural productivity
Features4 days ago
Mrs Shivashanthie Narayansuwami
Features4 days ago
The Fulbright Scholar – Taking wing to the U.S.
news6 days ago
MP Pathirana exposes yahapalana ministers and Excise Dept. crooks
Opinion3 days ago
Agrochemical ban: Heading for national disaster?
news5 days ago
Medical Specialists: Only 28 hospitals have liquid oxygen tanks
Features4 days ago
Sri Lanka in Geneva