Business Times

Pathirage chairs NDB-led CDIC under new strategic direction

Powerful businessman Ashok Pathirage was this week appointed chairman of the Capital Development and Investment Company (CDIC), National Development Bank. (NDB) unit, under a new business plan launched by the company.

Vajira Kulatilaka Ashok Pathirage

The changes, the company said in a statement, are aimed at position itself as a diversified financial services conglomerate with ultimate exposure to investment banking (both regionally and in Sri Lanka), stockbroking, wealth management, private equity investments and insurance sectors.

It said CDIC will now be placed in a unique position to attract investors who are seeking exposure to finance sector both locally and regionally.

According to the new plan, CDIC will acquire 100% ownership of NDB Investment Bank and NDB Stockbrokers from the NDB which will complement its existing strategic investments in NDB Aviva Wealth Management and Aviva NDB Insurance PLC. CDIC plans to float a private equity firm and also explore strategic investment opportunities in the region in the finance/banking sector. CDIC would seek collaborations with global and regional partners to implement the above plan. CDIC is 99.6% owned by NDB.

Under the changes, Vajira Kulatilaka has been appointed as the CEO of the company. Mr. Pathirage is the Deputy Chairman of NDB in addition to being chairman of Softlogic Group, Uniwalkers, Softlogic Finance and Chairman/Managing Director of the Asiri Group of Hospitals. Mr. Kulatilaka is presently the CEO of the NDB Investment Banking luster.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Tough laws to rein in errant Treasury officials
Deadline issues, gaps in agreement raised at pre-bid Mattala airport meeting
SEC to regulate public listing thro' introductions
Foreign workers in key development projects
Modern hospital at Lanka Tractors land
'Private channelled practice' discussion at the STBC
Mattala airport taking off
Comment - Tackling donors and development partners
Sri Lanka: Call for market-determined energy regime and a flexible currency
'SL's first ever online eBook store' launche
Mackwoods Energy Ltd goes public, offers 25 mln shares
Innovative teachers, student winners in Microsoft Competition honoured
Ambitious? Hameedia plans to produce India's top Madura brand for Indian market
Daimler-Benz AG eyes future prospects in Sri Lanka
SLT records Rs 4.8 bln profit for 2011
Dialog solutions help Sri Lanka's Southern Expressway operations
Sri Lankan dairy equipment company takes India by storm
Fuel hike hurts tourism revenue
More than 700 foreign delegates for Sri Lanka Expo 2012
First bilingual investment research unit to combat biased research
Pathirage chairs NDB-led CDIC under new strategic direction
Brandix comes on board at University of Kelaniya
Mobitel launches special package for migrant workers
Asia Pacific Consulting Engineers meet in Colombo
Dialog takes Rs 638 million hit from December devaluation
Positive market amidst new system screw-up
BT Poll: Brokers, investors in favour of ban on insider trading
Shangri-La foresees immense tourism potential in Sri Lanka
K. Sivagananathan Memorial Trust oration on March 5
Access Engineering bullish on property development
Sri Lanka's street lights become a burden for the Treasury
Facebook or '$FB' by the numbers
Business Process Automation workshop held
IBM showcases its Smarter Computing solutions in SL takes its deals beyond Colombo
Hutch offers SMS banking
Wither Central Bank credibility?
Calls for a monitoring mechanism for the EPF
30th Annual Architects' exhibition held this week
LAUGFS makes strategic investment in leisure sector
Surath re-elected President of the CCI
Sri Lanka refuses to ‘dance to the tune’ of foreign development partners
Richlife Dairies take-over by Renuka Group lifts company


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2012 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution