Russel Fonseka assumes duties as BOC GM/CEO

Pic by Kithsiri De Mel

Russel Fonseka assumed duties as General Manager/Chief Executive Officer of Bank of Ceylon (BOC) on January 17, 2023, at the bank’s head office. 
Having joined BOC in 1990, he has notched up 33 years of service with the banking giant and was serving as Additional General Manager and CFO before assuming duties as the 23rd General Manager of the bank. Fonseka succeeded K.E.D. Sumanasiri, who retired on January 13, 2023.

Fonseka is a career banker, who over the years has successfully steered and given leadership to the various divisions that came under his purview. He has held the positions of Chief Financial Officer, Head of Finance and Planning, Head of International, Treasury and Investments, Head of Retail Banking and Head of Corporate and Offshore Banking. The exposure to many areas of banking would be a distinct advantage, as he faces the task of steering the premier bank in Sri Lanka during what looks to be the most turbulent period the country and the globe has faced in recent times.

He holds a B.Sc (Special) degree in Business Administration from the University of Sri Jayewardenepura and an MBA from the University of Southern Queensland, Australia. He has completed the Advanced Management Programme at Harvard Business School, USA as part of grooming of selected individuals under BOC’s succession planning. He is a senior fellow member of the Institute of Bankers of Sri Lanka and a fellow member of the Institute of Chartered Accountants of Sri Lanka. He serves as a member of the Sri Lanka Accounting and Auditing Standards Monitoring Board and is the immediate Past President of the AAT Sri Lanka. He also held positions as Director on the boards of a number of BOC’s associate and subsidiary companies.