Banking Move

Mar 05, 2010 (LBO) – Sri Lanka’s NDB Bank said its chief executive Eran Wickramaratne has resigned from his post as he plans to enter parliament as a member of the main opposition United National Party. The bank said in a stock exchange filing that Russel de Mel, now serving as vice president – head of the corporate banking group, will be appointed as the new chief executive.

Wickramaratne is on the so-called ‘national list’ of the main opposition UNP for elections in April.

The ‘national list’ gives a chance for parties to appoint law makers based on the proportion of total votes received in a general elections without the persons themselves contesting.

NDB Bank also said De Mel will become additional chief executive with immediate effect and chief executive from Match 26 subject to Central Bank approval.

De Mel has served NDB Bank for nearly 30 years largely in corporate banking.