Kapila Jayawardena - new Seylan Bank Deputy Chair

The Board of Directors of Seylan Bank PLC has appointed its non-executive Director and LOLC Group Managing Director/CEO, Kapila Jayawardena as Deputy Chairman of the Board with effect from September 10,

Mr. Jayawardena, who served as Country Head and CEO (Sri Lanka and Maldives) of Citibank NA from 1998 to 2007, joined LOLC in 2007 as the Group Managing Director/CEO of LOLC Group. He is also the Chairman/Director of the Eden Hotel Lanka PLC; LOLC General Insurance Ltd; LOLC Securities Ltd; Palm Garden Hotels PLC; Browns Capital PLC; Director Seylan Bank PLC; BRAC Lanka Finance PLC; Brown & Company PLC; Riverina Resorts (Pvt) Ltd; LOLC International (Pvt) Ltd; Browns Investments PLC; Browns Advanced Technologies (Pvt) Ltd; LOLC Asia (Pvt) Ltd; LOLC Pvt Ltd, Ceylon (Pvt) Ltd.

He represents the material shareholders of Seylan Bank, Brown & Company PLC and LOLC Investments Ltd at Seylan, an L0LC media release said.

LOLC Investments currently owns 9.55 per cent while Brown and Company owns 13.87 per cent of the voting shares of the bank. In addition, Lanka ORIX Leasing Company PLC has 3.93 per cent interest in the non-voting shares.