New chairman at Union Bank
The Board of Directors of Union Bank of Colombo PLC has announced the appointment of Atul Malik as Chairman of the bank with effect from October 25. Some 70 per cent of the shares are owned by Cayman Islands-registered c o m p a n y, Cultural Financial Holdings Ltd.
Mr. Malik is a veteran banker with widespread experience in the Asian region, having served as CEO of Citi Bank Hong Kong, Mana g i n g Director/ Re gional Head Asia of Private/ Business Clients of Deutsche Bank and CEO of Maritime Bank, Vietnam.
Mr. Malik, who currently functions as a Senior Advisor to TPG for their financial services portfolio, is a senior financial services executive with extensive experi- ence and a successful track record in establishing, expanding and managing scale businesses across Asian developed and emerging markets.
Prior to joining TPG in October 2017, he was an advisor to General Atlantic from 2015 to 2017, the CEO of Maritime Bank, one of the largest private banks in Vietnam, from 2012 to 2015 and a Senior Advisor to Asia Capital & Advisors, a boutique private equity firm, from 2011 to 2012.