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First Capital Holdings Announces Strategic Board Appointments

Posted on by darion

First Capital Holdings PLC, a Janashakthi Group company, is pleased to announce new appointments to its Board of Directors, effective June 28.

Banking veteran Rajendra Theagarajah was appointed chairman. He was joined by Inoshini Perera, Rachini Rajapaksa and Dilendra Wimalasekere as new board members.

Theagarajah’s appointment follows the distinguished tenure of Nishan Fernando as Chairman. Furthermore, these new appointments follow the retirement of long-time Independent Director of First Capital Holdings PLC Chandan de Silva. These individuals have played key roles on the Board, shaping the vision, providing leadership and guidance that have enabled the Company to evolve into a preeminent corporate entity in Sri Lanka, with exceptional growth.

Speaking about the new appointments, First Capital Holdings PLC Managing Director/CEO Dilshan Wirasekara said, “I am pleased to welcome our new Chairman and Board of Directors. Their proven track record and diverse skills will be invaluable as we navigate the future growth trajectory of the Company. I extend my sincerest thanks to our outgoing Chairman, Nishan Fernando, and outgoing Director, Chandana de Silva, for their commitment and vision, which have been instrumental in our extraordinary success. On behalf of the entire First Capital family, I wish them all the best.”

First Capital Holdings PLC Chairman Rajendra Theagarajah said, “I consider it an honour to assume the role of Chairman of First Capital Holdings PLC. The organisation is an outstanding market leader in the Sri Lankan capital market space and I am committed to building on its legacy of excellence. I am grateful for the opportunity to work with such an energetic and experienced management team and a dedicated group of employees. Together we will realise First Capital’s strategic vision and achieve new levels of success.”

Rajendra Theagarajah – Independent Non-Executive Director/Chairman

Rajendra Theagarajah is an Associate Member of the Chartered Institute of Management Accountants, UK, an Associate Member of the Institute of Chartered Accountants of Sri Lanka and holds a Master of Business Administration from Cranfield School of Business, UK.

Rajendra has enjoyed great success in banking both in the UK and Sri Lanka. Over his 36 year career, he has spent the last 16 years as CEO of three licensed commercial banks in Sri Lanka, making significant contributions to policy advocacy issues such as the Corporate Governance Framework for Banks, the adoption of Basel III and fair value accounting by banks. During this period, he has chaired the Sri Lanka Banks Association, the Asian Banks Association and the Lanka Financial Services Bureau. He has also served on the boards of the Sri Lanka Institute of Directors, LankaClear and the Colombo Stock Exchange, and was the Chairman of the Ceylon Chamber of Commerce from 2017 to 2019.

Theagarajah currently holds the position of Independent Director of Carson Cumberbatch PLC and serves as Chairman of Orient Finance PLC. In 2022, he was conferred the title of Chairman Emeritus by the Asian Banks Association for his distinguished contribution. He is a member of the Central Bank of Sri Lanka Stakeholder Engagement Committee. Theagarajah is also a Senior Visiting Professor at Pathfinder Foundation, a leading think tank in Sri Lanka.

Inoshini Perera – Independent Non-Executive Director

Inoshini Perera brings a blend of international experience from the UK and Singapore, combined with local expertise. She holds an MSc in Finance from the University of Cambridge, UK and a BA in Economics with First Class Honours from the London School of Economics and Political Science, UK. Her career spans a variety of specialisations, including investment banking, management consulting and corporate banking. She has served as Bank of America UK, Vice President, M&A, and has held senior management positions such as KPMG Singapore and Standard Chartered Bank in Sri Lanka Associate Director. Perera is currently an independent consultant and a board member of Verité Research.

Rachini Rajapaksa – Independent Non-Executive Director

Rachini Rajapaksa, a Chartered Member of the Chartered Institute of Management Accountants, UK and Chartered Financial Analyst of the CFA Institute, USA, has over 30 years of experience in management and finance. Rajapaksa currently serves as an Independent Non-Executive Director of Nations Trust Bank PLC, Sri Lanka Accounting and Auditing Standards Monitoring Board, Asset Machinery and Equipment Ltd., Asset Enterprises Ltd. and Lanka Bond House Ltd. He also serves as a member of the Tennyson & Vinitha Rodrigo Trust Advisory Committee.

Rachini was a founding member of the CFA Society Sri Lanka and one of the first female designees in the country. She was the first female president of the Society and served in various capacities over the years, including as a director. She has made many contributions to the CFA community, locally and internationally, including serving as an examiner for the CFA Institute exams for two decades.

Rajapaksa started her career at Pricewaterhouse

Coopers, Sri Lanka and later worked as a senior fund manager for Ceybank Asset Management Ltd. She also served as the Chief Financial Officer of IBM Sri Lanka and IBM Bangladesh.

Dilendra Wimalasekere – Independent Non-Executive Director

Dilendra Wimalasekere is an entrepreneur with over 25 years of experience in building and running IT services and digital marketing companies. He is the founder of three Sri Lankan based companies: Eureka Technology Partners, 24/7 Techies and ReapDigital, which use technology to deliver services worldwide. Together, these companies have supported over 70,000 consumers, 3,000 small businesses and such well-known enterprises as Google, Natixis and Wolters Kluwer in 10 countries on four continents.

Wimalasekere has served as a mentor for the Google for Startups Accelerator program and as a member of the SLAASCOM advisory board since 2017. He also served as a former board director and treasurer of the American Chamber of Commerce (AMCHAM). Wimalasekere holds a Bachelor of Science in Business Economics from the College of Wooster, USA and is a graduate of the Birthing of Giants entrepreneur development program at the Massachusetts Institute of Technology, USA.

With these appointments, the Board of First Capital Holdings PLC comprises Chairman Rajendra Theagarajah, Vice Chairman Manjula Mathews, Managing Director/CEO Dilshan Wirasekara, Ramesh Schaffter, Kuda Herath, Inoshini Perera, Rachini Rajapaksa and Dilendra Wimalasekere.