Union Bank of Colombo PLC Deputy Chairman Alex Lovell has retired from the bank with effect from September 27, 2016 after completing his nine-year service period as per the corporate governance rules of the Central Bank.

He holds 23.3 million shares of the bank as at date. 

Lovell was appointed to Union Bank board in 2007 as a Non-Executive Director and was appointed as Deputy Chairman in December 2010. He was appointed as Chairman in May 2012 until November 2014. 
Subsequent to the strategic investment by TPG (investment held via Culture Financial Holdings Ltd), one of the leading global investment firms, with US $ 65 billion in assets under management, he was appointed as Deputy Chairman effective from November 2014. 

He counts over 30 years of experience in finance and investment banking. Lovell is a Chartered Management Accountant, UK and holds a postgraduate degree in business administration. He was awarded the MBE (Most Distinguished Order of the British Empire) by the Queen of England for services to investment banking.