Commercial Bank of Ceylon PLC has announced the appointment of career banker Jegan Durairatnam as the Bank’s Managing Director and CEO effective 17th July 2014, on the retirement of the incumbent Mr Ravi Dias.

 Durairatnam is currently Executive Director and Chief Operating Officer of the Bank.

A senior member of Commercial Bank’s corporate management team for the past nine years, Jegan Durairatnam joined the Bank in 1982. His banking experience covers all aspects of International Trade, Off-shore Banking, Credit, Operations and IT. The holder of a Bachelor’s Degree from the University of Peradeniya, he has served Commercial Bank in several senior management positions, including  Deputy General Manager, Assistant General Manager – International Division and Head of Imports. He was appointed the Bank’s Chief Operating Officer/Executive Director in April 2012, in which capacity he oversaw the Corporate Banking, Personal Banking, Information Technology, Imports and Exports, Procurement and Premises, Operations, Foreign Currency Bureau/Travels and Recoveries functions of the Bank.

Ravi Dias, who took the helm of Commercial Bank in April 2012, commenced his career with the Bank in 1974 and has held many important posts while playing a pivotal role in its growth. A member of the Bank’s Corporate Management from July 1995, he was appointed Chief Operating Officer in February 2008 and to the Board in December 2010.

Commenting on his appointment as MD and CEO of Commercial Bank, Durairatnam said: “The country is going through a development drive in which the Commercial Bank has a crucial role to play as the biggest private bank in the country. Ravi Dias has provided exemplary and inspiring leadership to Commercial Bank over the past two years, and I look forward to building on what he has achieved by turning the challenges the sector faces into opportunities for growth.”