National Development Bank PLC (NDB) has announced the appointment of Rajendra Theagarajah as the new CEO of NDB Group with effect from August 24, 2013.
His predecessor Russell de Mel who successfully completed his tenure as CEO will retire from services. NDB has taken appropriate measures to ensure that the transition of the CEO would take place in a smooth and secure manner, while continuing to maintain the solidity and performance of the rapidly growing financial conglomerate.
The outgoing CEO de Mel, had been with NDB for over 30 years serving in various capacities, mainly in corporate banking. Under the leadership of de Mel, the NDB Group has evolved into a more robust financial conglomerate.
The new CEO Rajendra Theagarajah is a veteran in the banking and financial services sector. He counts over 29 years in banking both locally and overseas. Prior to his appointment as CEO of NDB, he served as CEO/ Managing Director at Hatton National Bank PLC for 9 years.
Commenting on the new appointment, NDB Chairman Hemaka Amarasuriya said, “It is my pleasure to welcome Theagarajah on board. With his proven track record and experience within the industry as well as the international banking arena, he is poised to drive the growth of the NDB Group even more aggressively to take the financial conglomerate to new heights in years to follow.”
“It is opportune to recognise the contribution of the outgoing CEO Russell de Mel during his tenure of office, which was associated with “back to the basics” initiatives of; rapid expansion of the branch network, revitalisation of the SME sector, synergising the strengths of varying sectors of our ‘Universal Bank’ and expanding beyond boundaries by linking with regional financial institutions for outreach” Amarasuriya added.