New CEO at Nations Trust Bank

Nations Trust Bank appointed Saliya Rajakaruna as the Chief Executive Officer. He will commence duties from September 15. Rajakaruna will succeed the present CEO Zulfiqar Zavahir, who has retired from this role as well as resigning from the Board of Directors this month. The Bank also announced the resignation of the Deputy CEO Iftikar Ahamed.

Executive Director of the Bank Sarath Piyaratna will act as Chief Executive Officer until the new CEO assumes duties. These appointments are being made subject to the approval of the Central Bank of Sri Lanka.

The Chairman of Nations Trust Bank PLC Ajit Gunewardene said, "We are delighted to welcome Rajakaruna as our new Chief Executive Officer. The Bank has continued to perform well and is positioned to take advantage of the tremendous growth opportunities in the country, with expansion plans in the north and east scheduled to take place in the next quarter."

He said "Rajakaruna's expertise in the industry, wide knowledge and sharp business acumen will certainly be an asset to Nations Trust Bank."

Rajakaruna has over 35 years' experience in the financial services industry, having served at the London offices of Citibank, N.A taking on various roles relating to corporate banking risk management, finance and marketing with customers in Scandinavia, the UK and Europe.

He has also undertaken various assignments covering audit, product management and treasury activities relating to Citibank portfolios in the USA, South Africa and Asia.