New chairman and board of directors at UB Finance
View(s):UB Finance, a subsidiary of Union Bank of Colombo PLC, has announced the appointment of Atul Malik as the new Chairman, succeeding Alexis Lovell MBE who stepped down from his position as Chairman of UB Finance, having served a term of nine years.
The company also announced the appointments of Michael J O’Hanlon and Moahan Balendra as Non-Executive Directors and Chandrakumar Ramachandra, who has served on the Board for seven years, as the Senior Director.
“The newly appointed Chairman together with the new members of the Board brings a wealth of experience and background to UB Finance. Their collective expertise will help the company on its upward trajectory and continue to enhance value for its clients and position the organisation for long-term growth and profitability,” the company said in a media release.
Mr. Malik, who currently functions as a Senior Advisor to US-based TPG (which has a majority stake in Union Bank), is a Senior Financial Services Executive with extensive experience and a successful track record in establishing, expanding and managing scale businesses across Asian developed and emerging markets. Prior to joining TPG in 2017, he served as advisor to General Atlantic, CEO of Maritime Bank Vietnam and a Senior Advisor to Asia Capital & Advisors, a boutique private equity firm. Mr. Malik also serves as the Chairman of Union Bank since October 2017.
Mr. O’Hanlon is a Senior Advisor to TPG focusing on its financial institution investments. He currently is the Chairman of the Board of Roosevelt Management Company, LLC, an asset manager, and the Chairman of the Board of Rushmore Loan Management Services, LLC, a residential mortgage loan originator and servicer.
Mr. Balendra was appointed as an Alternate Director to Lisa Gayle Thomas in 2018 and will now serve on the Board as an Independent Non-Executive Director. He is an Attorney at Law, Fellow of the Association of Chartered Certified Accountants (ACCA) and a Justice of the Peace.
Mr. Ramachandra is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka (ICASL). He has served as a Member of the Boards of Sathosa Retail Ltd, Uni Walker Packaging Ltd and several Capital Reach Group Companies.