Colombo, October 1, 2026 – First Capital Treasuries PLC (FCT), a leading player in Sri Lanka’s financial markets, has announced the appointment of two highly experienced professionals, Mr. Dudeepa Kapila Ratwatte and Mr. Priyanka Niran Mahawatte, as Independent Non-Executive Directors to its Board. The appointments, effective from October 1, 2026, were resolved by the Board of Directors on September 30, 2026, in compliance with Section 9.10.2 of the Listing Rules of the Colombo Stock Exchange (CSE).
The strategic move, which received a recommendation from the Company’s Nomination and Governance Committee, is poised to significantly bolster FCT’s board with a wealth of expertise in treasury, asset-liability management (ALM), financial risk management, and broader financial market operations. These seasoned professionals are expected to contribute substantially to the company’s governance, strategic oversight, and market resilience.
Introducing the New Independent Non-Executive Directors
Mr. Dudeepa Kapila Ratwatte
Mr. Dudeepa Kapila Ratwatte brings over two decades of extensive experience in treasury and ALM, cultivated across international and local banking landscapes. Commencing his banking career with ABN AMRO Singapore in 1996 as an Elite Management Associate, he has since honed his skills as an active trader across various asset classes, including FX, FIS, and Futures products. His expertise extends to derivatives, where he has specialized in structuring interest rate, FX, and commodity derivative products for clients in Mumbai, Singapore, and Sri Lanka.
Beyond trading, Mr. Ratwatte is also a recognized risk management specialist, having served as an Asset and Risk Management Expert for London-based Maxwell Stamp PLC, an economics consultancy firm. His significant tenure in Sri Lanka’s banking industry includes key corporate management and treasury roles at institutions such as Commercial Bank (AGM/Head of Global Markets), Hatton National Bank (Chief Dealer/Chief Manager), Peoples Bank (Chief Dealer/Chief Manager), and ABN AMRO Bank. After migrating to Australia in 2009, he gained further experience in Funds Management and ALM at Sigma Funds Management as a Director/Fund Manager and Capitol Finance Ltd as an ALM Lead. He also held a Country Lead/Key Account Director role for Hanshow Technologies in Australia & New Zealand. Mr. Ratwatte, who holds a BA (Hons) Degree in Economics and Politics from Royal Holloway College, University of London, returned to Sri Lanka in 2023.
Mr. Priyanka Niran Mahawatte, FCMA (UK), CGMA
Mr. Niran Mahawatte is a distinguished banking and financial markets professional with over 30 years of experience, spanning critical areas such as treasury management, foreign exchange, debt markets, liquidity and funding, and financial risk management. His impressive career includes leadership roles at both foreign and local financial institutions in Sri Lanka.
Currently, Mr. Mahawatte serves as a Non-Executive Independent Director for Citrus Leisure PLC, Waskaduwa Beach Resort PLC, Hikkaduwa Beach Resort PLC, and George Steuart Asset Management (Pvt) Ltd, roles that underscore his profound insights into board-level oversight, financial strategy, risk management, and corporate governance. Prior to these appointments, he dedicated over 17 years to National Development Bank PLC (NDB Bank), notably as Vice President / Head of Treasury from 2007 to 2024. In this capacity, he played a pivotal role in managing the Bank’s foreign exchange and debt market operations, as well as its liquidity, funding, capital, and market risks. His career also features significant treasury and global markets experience at Deutsche Bank Colombo Branch as Head of FX Trading/Sales, and at Commercial Bank of Ceylon PLC, where he began his banking journey.
Mr. Mahawatte’s professional acumen is further evidenced by his service on numerous senior management and board sub-committees, including the Integrated Risk Management Committee and the Assets & Liability Management Committee (ALCO). He holds FCMA (UK), CGMA, a BSc (Honours) from the University of Colombo, and an ACI Dealing Certificate with Distinction, and is a member of the Sri Lanka Institute of Directors. Beyond his professional commitments, he has held leadership roles in the not-for-profit sector, including Honorary Treasurer of the Wildlife & Nature Protection Society of Sri Lanka.
First Capital Treasuries PLC anticipates that the diverse and extensive expertise brought by Mr. Ratwatte and Mr. Mahawatte will be invaluable in navigating the complexities of the current financial landscape and driving the company’s strategic growth. The Company Secretary, Heidy Seneviratne, confirmed that the Relevant Interests of Mr. Ratwatte and Mr. Mahawatte in the shares of the Company will be disclosed separately, in accordance with the Listing Rules of the Colombo Stock Exchange.
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