Dinesh Weerakkody, a highly regarded professional with extensive experience in the banking sector, has been appointed as the new Chairman of Union Bank of Colombo, following the resignation of Nirvana Chaudhary. Chaudhary will continue to serve on the Board as a Director.
Union Bank is predominantly owned by Nepalese billionaire Binod Choudhary through Culture Financial Holdings Ltd., which holds a 70.84% stake in the bank.
Weerakkody has previously held the position of Chairman at both Commercial Bank of Ceylon PLC and Hatton National Bank PLC, and he has served on the Board of DFCC Bank PLC. In 2015, he led a government-appointed committee that reviewed the consolidation of banks and non-bank financial institutions (NBFIs).
In addition to his banking roles, Weerakkody is a director at several companies and the Chairman of the Employers’ Federation of Ceylon. His leadership experience extends to the public sector as well. He holds an Advanced Diploma in Business Administration from the United Kingdom, along with fellowships from the Chartered Institute of Management Accountants (United Kingdom) and the Certified Management Accountants (Sri Lanka). He has also been recognized as a Professional Member of the Singapore Human Resource Institute and holds an honorary DBA from the USA, as well as an MBA from the University of Leicester in the UK. Furthermore, he has received honorary membership from the Institute of Personnel Management of Sri Lanka.
Weerakkody has undergone comprehensive training in leadership, economics, finance, human resources, and management in various countries, including the UK, USA, France, Japan, Singapore, and India.