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Last Updated : 15 August 2012

Board of Directors

The Board of Directors of the company comprise of three Non Executive Independent Directors, Two Non Executive Directors and one Executive Director who functions as the Chief Executive Officer. The members of the Board are from diverse disciplines with strong business acumen.

Dr.D C Jayasuriya.P.C.
Chairman

Dr Dayanath Jayasuriya.P.C LL.B.; Ph.D.; FICA (U.K.); Hony FSASL (U.K.); MSID (Singapore); and Attorney-at-Law spent ten years in the Attorney-General’s Office in Sri Lanka where he appeared in many important financial services law cases and thereafter was out of the country for more than 25 years working for the United Nations and its specialized agencies in Geneva, Vienna, Bangkok, New Delhi and Islamabad. Returning to Sri Lanka in 2000, he was appointed as the Director General and CEO of the Securities and Exchange Commission and the Insurance Board of Sri Lanka and held these posts until 2003; in 2004 he was appointed as the Chairman of both these agencies. He is the Founder Chairman of the South Asian Insurance Regulators’ Forum. In 2005 he hosted in Sri Lanka the IOSCO Annual Conference and served as the Chairman of the IOSCO President’s Committee. Under his Chairmanship IOSCO adopted a series of major recommendations for the future direction of IOSCO and the regulation of capital markets.
In February 2010 Dr Jayasuriya.P.C took ‘silk’ as a President’s Counsel (previously Q.C.) of Sri Lanka. Currently he is the Managing Partner of the newly established Corporate Governance Advisory Services Pte Ltd.- a consultancy firm registered in Singapore. He has written more than 20 books, 25 monographs and published over 200 articles.
Dr Jayasuriya.P.C has also served as a Director of the Public Utilities Commission; the Public Enterprises Reform Commission; National Procurement Agency and as a Trustee of the Construction and Guarantee Fund.

Mr.Prakash Schaffter
Director

Appointed as Chairman of the Company in February 2011, subsequently resigned from that position on appointment of Dr.D.C.Jayasuriya as the Chairman. He possesses a Bachelor’s Degree in Political Science from the University of London and an MBA from the University of Cambridge.
He is a Fellow of the Chartered Insurance Institute and counts industry experience of over two decades complemented by a thorough knowledge of insurance practices in several countries. He is a Member of the Executive Committee of the Insurance Association of Sri Lanka (IASL). Currently serving as a Managing Director of Janashkthi Insurance PLC and serves on the Board of several Janashkthi group companies.
He has also made a significant contribution to cricket, and was also a member of the Interim Committee which governed Sri Lanka Cricket a few years ago and at present he is serving as secretary of the Sri Lanka Cricket Board. He is the Honorary General Secretary of the Tamil Union Cricket & Athletic Club, which he has served as a Committee Member since 1992.

Mr.Ramesh Schaffter
Director

Associated with Janashakthi Insurance PLC since its inception and armed with over 20 years experience in finance and marketing, was appointed Secretary to the Board in 1994 and subsequently was made a fully-fledged member of the Board in 2004. He also serves on the Board‘s of several Janashakthi Group companies. He is an Associate Member of the Chartered Institute of Management Accountants UK and has served as a Council Member of CIMA, Sri Lanka. He also possesses a Diploma in Marketing from the Chartered Institute of Marketing.
Currently he is serving as Vice President of the Tamil Union Cricket and Athletic Club, a leading Premier Division Cricket Club and the home to Cricket in Sri Lanka.

Mr A W Atukorala
Director

Mr Atukorala possesses extensive experience in banking. He served as DGM- ANZ Grindlays Bank, Country Manager of Mashreq Bank and former advisor, Ministry of Policy Development & Implementation. Presently Mr Atukorala serves as a Director of Union Bank of Colombo Ltd, RoomsNet International Ltd, Ami Holdings, Investments (Pvt) Ltd and United Motors Lanka Plc. Mr.Atukorala possesses a Bachelor’s Degree in Science from Leeds, MTT (North Carolina and MBA.

Mr. Anil Tittawella.P.C
ndependent Non Executive Director

Mr.Anil Tittawella.P.C is a President’s Counsel and had a varied professional career with a wide range of subjects both in terms of litigation and under other dispute resolution mechanisms. His expertise are on civil and commercial law litigation, alternate dispute resolution mechanisms, legal documentation, drafting, negotiation, mergers and acquisitions, corporate legal matters and legal due diligence. Some of the countries that he has represented his clients are Pakistan, South Korea, Hong Kong, Sweden, UAE, Thailand, Singapore, England, USA, India, Mauritius, New Zealand and Switzerland.
Mr.Tittawella.P.C has been a member of the Bar Association of Sri Lanka Committee on Company Law Reform (1995-1996), member of the Ceylon Chamber of commerce Committee on Company Reforms (1993), Member of the Sri Lanka Swedish joint Legal team to formulate the new Arbitration Act of Sri Lanka (1994-1997). He was also the Legal Consultant to the Airport and Civil Aviation Authority of Sri Lanka (1994-1997) and the founder member of the Institute of Commercial Law and Practice in Sri Lanka (1995). Mr. Tittawella also functioned as a commission member of the Securities and Exchange Commission of Sri Lanka during the period from 2000 to 2002 and was also a Member of the Insurance Board of Sri Lanka during the period from 2001 to 2002.He is a Member of the Bar Association of Sri Lanka and the Colombo Law Society.
Mr. Tittawella.P.C is an Attorney –at-Law of the Supreme Court of Sri Lanka and Holds Solicitors (final) Examination of the Law Society of the United Kingdom and Masters in Law (Hons) University of Waikato,New Zealand.

Mr. Sarath Wikramanayake
Independent Non Executive Director

Mr. Wikramanayake started his career at Ford Rhodes Thornton & Co and then moved to Bank of Butterfield in Bermuda and during his 17 years at the bank he climbed up the corporate ladder from Internal Auditor to Executive Vice President and Chief Financial Officer. In 1999 he joined Union Assurance Limited and was appointed as the Chief Executive Officer in 2000. Currently he is a Director of NDB Bank PLC, NDB Investment Bank, CDIC PLC, Aviva NDB Insurance PLC, NDB Aviva Wealth Management Ltd, Aviva NDB Finance Lanka (Private) Ltd and PC House PLC. Mr. Wikramanayake is also a Director of Greenwich Lanka (Private) Ltd, Procifinity Ltd and Inforserve Ltd.
He served as the President of the Insurance Association of Sri Lanka in 2001/2002 and has also served as a Council Member of the Chamber of Construction Industry, Chairman of the Insurance Sub Committee of the Ceylon Chamber and Member of two subcommittees in a governmental Financial Sector Reforms initiative.
Mr. Wikramanayake was awarded the World Company Law and Taxation prize by Institute of Chartered Management Accountants (UK) and was also awarded the Auditing prize at the final examination of the Institute of Chartered Accountants Sri Lanka. He is a Chartered Accountant and is a Chartered Management Accountant. He is a passed finalist of the Board of Certified Public Accountants of USA and a Passed Finalist of the Association of Certified Accountants UK. He was also a Certified Information Systems Auditor (CISA) and holds the General Diploma of the American Institute of Bankers.

Mrs.Lakshmi Gunatilake
Independent Non Executive Director

Mrs. Gunatilake possesses 28 years of executive experience at the Central Bank of Sri Lanka, which she began as an Economist in 1979.Since then, she served in the Economic Research Department and the Banking Department of the Central Bank. In 2001, she was appointed the Director of the Department of Supervision of Non Bank Financial Institutions. She held this position up to her retirement in 2007. She was a Member of the Financial System Stability Consultative Committee of the Central Bank from January 2008 to June 2011.
Mrs. Gunatilake is a Fellow and an Associate Member of the Institute of Bankers of Sri Lanka and she holds a B.A(General) with Economics as a Subject from University of Peradeniya, B.A (Hons) In Monetary Economics from University of Peradeniya,M.Sc In Agricultural Economics from University of Peradeniya and M.A in Economics from University of Manchester, UK.


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			Vision & Mission History Board of Directors Senior Management Financial Highlights Corporate Information Last Updated : 15 August 2012 Board of Directors The Board of Directors of the company comprise of three Non Executive Independent Directors, Two Non Executive Directors and one Executive Director who functions as the Chief Executive Officer. The members of the Board are from diverse disciplines with strong business acumen. Dr.D C Jayasuriya.P.C. Chairman Dr Dayanath Jayasuriya.P.C LL.B.; Ph.D.; FICA (U.K.); Hony FSASL (U.K.); MSID (Singapore); and Attorney-at-Law spent ten years in the Attorney-General’s Office in Sri Lanka where he appeared in many important financial services law cases and thereafter was out of the country for more than 25 years working for the United Nations and its specialized agencies in Geneva, Vienna, Bangkok, New Delhi and Islamabad. Returning to Sri Lanka in 2000, he was appointed as the Director General and CEO of the Securities and Exchange Commission and the Insurance Board of Sri Lanka and held these posts until 2003; in 2004 he was appointed as the Chairman of both these agencies. He is the Founder Chairman of the South Asian Insurance Regulators’ Forum. In 2005 he hosted in Sri Lanka the IOSCO Annual Conference and served as the Chairman of the IOSCO President’s Committee. Under his Chairmanship IOSCO adopted a series of major recommendations for the future direction of IOSCO and the regulation of capital markets. In February 2010 Dr Jayasuriya.P.C took ‘silk’ as a President’s Counsel (previously Q.C.) of Sri Lanka. Currently he is the Managing Partner of the newly established Corporate Governance Advisory Services Pte Ltd.- a consultancy firm registered in Singapore. He has written more than 20 books, 25 monographs and published over 200 articles. Dr Jayasuriya.P.C has also served as a Director of the Public Utilities Commission; the Public Enterprises Reform Commission; National Procurement Agency and as a Trustee of the Construction and Guarantee Fund. Mr.Prakash Schaffter Director Appointed as Chairman of the Company in February 2011, subsequently resigned from that position on appointment of Dr.D.C.Jayasuriya as the Chairman. He possesses a Bachelor’s Degree in Political Science from the University of London and an MBA from the University of Cambridge. He is a Fellow of the Chartered Insurance Institute and counts industry experience of over two decades complemented by a thorough knowledge of insurance practices in several countries. He is a Member of the Executive Committee of the Insurance Association of Sri Lanka (IASL). Currently serving as a Managing Director of Janashkthi Insurance PLC and serves on the Board of several Janashkthi group companies. He has also made a significant contribution to cricket, and was also a member of the Interim Committee which governed Sri Lanka Cricket a few years ago and at present he is serving as secretary of the Sri Lanka Cricket Board. He is the Honorary General Secretary of the Tamil Union Cricket & Athletic Club, which he has served as a Committee Member since 1992. Mr.Ramesh Schaffter Director Associated with Janashakthi Insurance PLC since its inception and armed with over 20 years experience in finance and marketing, was appointed Secretary to the Board in 1994 and subsequently was made a fully-fledged member of the Board in 2004. He also serves on the Board‘s of several Janashakthi Group companies. He is an Associate Member of the Chartered Institute of Management Accountants UK and has served as a Council Member of CIMA, Sri Lanka. He also possesses a Diploma in Marketing from the Chartered Institute of Marketing. Currently he is serving as Vice President of the Tamil Union Cricket and Athletic Club, a leading Premier Division Cricket Club and the home to Cricket in Sri Lanka. Mr A W Atukorala Director Mr Atukorala possesses extensive experience in banking. He served as DGM- ANZ Grindlays Bank, Country Manager of Mashreq Bank and former advisor, Ministry of Policy Development & Implementation. Presently Mr Atukorala serves as a Director of Union Bank of Colombo Ltd, RoomsNet International Ltd, Ami Holdings, Investments (Pvt) Ltd and United Motors Lanka Plc. Mr.Atukorala possesses a Bachelor’s Degree in Science from Leeds, MTT (North Carolina and MBA. Mr. Anil Tittawella.P.C ndependent Non Executive Director Mr.Anil Tittawella.P.C is a President’s Counsel and had a varied professional career with a wide range of subjects both in terms of litigation and under other dispute resolution mechanisms. His expertise are on civil and commercial law litigation, alternate dispute resolution mechanisms, legal documentation, drafting, negotiation, mergers and acquisitions, corporate legal matters and legal due diligence. Some of the countries that he has represented his clients are Pakistan, South Korea, Hong Kong, Sweden, UAE, Thailand, Singapore, England, USA, India, Mauritius, New Zealand and Switzerland. Mr.Tittawella.P.C has been a member of the Bar Association of Sri Lanka Committee on Company Law Reform (1995-1996), member of the Ceylon Chamber of commerce Committee on Company Reforms (1993), Member of the Sri Lanka Swedish joint Legal team to formulate the new Arbitration Act of Sri Lanka (1994-1997). He was also the Legal Consultant to the Airport and Civil Aviation Authority of Sri Lanka (1994-1997) and the founder member of the Institute of Commercial Law and Practice in Sri Lanka (1995). Mr. Tittawella also functioned as a commission member of the Securities and Exchange Commission of Sri Lanka during the period from 2000 to 2002 and was also a Member of the Insurance Board of Sri Lanka during the period from 2001 to 2002.He is a Member of the Bar Association of Sri Lanka and the Colombo Law Society. Mr. Tittawella.P.C is an Attorney –at-Law of the Supreme Court of Sri Lanka and Holds Solicitors (final) Examination of the Law Society of the United Kingdom and Masters in Law (Hons) University of Waikato,New Zealand. Mr. Sarath Wikramanayake Independent Non Executive Director Mr. Wikramanayake started his career at Ford Rhodes Thornton & Co and then moved to Bank of Butterfield in Bermuda and during his 17 years at the bank he climbed up the corporate ladder from Internal Auditor to Executive Vice President and Chief Financial Officer. In 1999 he joined Union Assurance Limited and was appointed as the Chief Executive Officer in 2000. Currently he is a Director of NDB Bank PLC, NDB Investment Bank, CDIC PLC, Aviva NDB Insurance PLC, NDB Aviva Wealth Management Ltd, Aviva NDB Finance Lanka (Private) Ltd and PC House PLC. Mr. Wikramanayake is also a Director of Greenwich Lanka (Private) Ltd, Procifinity Ltd and Inforserve Ltd. He served as the President of the Insurance Association of Sri Lanka in 2001/2002 and has also served as a Council Member of the Chamber of Construction Industry, Chairman of the Insurance Sub Committee of the Ceylon Chamber and Member of two subcommittees in a governmental Financial Sector Reforms initiative. Mr. Wikramanayake was awarded the World Company Law and Taxation prize by Institute of Chartered Management Accountants (UK) and was also awarded the Auditing prize at the final examination of the Institute of Chartered Accountants Sri Lanka. He is a Chartered Accountant and is a Chartered Management Accountant. He is a passed finalist of the Board of Certified Public Accountants of USA and a Passed Finalist of the Association of Certified Accountants UK. He was also a Certified Information Systems Auditor (CISA) and holds the General Diploma of the American Institute of Bankers. Mrs.Lakshmi Gunatilake Independent Non Executive Director Mrs. Gunatilake possesses 28 years of executive experience at the Central Bank of Sri Lanka, which she began as an Economist in 1979.Since then, she served in the Economic Research Department and the Banking Department of the Central Bank. In 2001, she was appointed the Director of the Department of Supervision of Non Bank Financial Institutions. She held this position up to her retirement in 2007. She was a Member of the Financial System Stability Consultative Committee of the Central Bank from January 2008 to June 2011. Mrs. Gunatilake is a Fellow and an Associate Member of the Institute of Bankers of Sri Lanka and she holds a B.A(General) with Economics as a Subject from University of Peradeniya, B.A (Hons) In Monetary Economics from University of Peradeniya,M.Sc In Agricultural Economics from University of Peradeniya and M.A in Economics from University of Manchester, UK.