Alex Lovell appointed Union Bank Chairman

Union Bank of Colombo PLC (UBC) has appointed Alexis Indrajit Lovell as the new Chairman and Asoka de Silva as Deputy Chairman of UBC with effect from May 1, consequent to Ajita de Zoysa former Chairman relinquishing his services after a period of 9 years keeping in line with the requirements of the Corporate Governance Direction of the Central Bank of Sri Lanka.

Under the stewardship of the former Chairman Ajita de Zoysa, UBC’s transformation from a small player in 2003 to a prominent dynamic player within the industry by 2012 has been remarkable, the Bank said in a statement.

With a committed and a dedicated team across the organization, UBC is poised to accelerate its progress during the years ahead and it is with much confidence that UBC welcomes Lovell, the new Chairman of Union Bank who will continue to render a yeoman service in taking UBC to even greater heights, the statement said.

Lovell was appointed to the Board in 2007 as a Non-Executive Director and was subsequently appointed as the Deputy Chairman in December 2010.

He counts over thirty years of experience in Finance and Investment Banking.