Jan 15 (Reuters) - Sri Lanka's newly elected leader, Maithripala Sirisena, appointed international banker Arjuna Mahendran as head of the central bank, with immediate effect, the government said on Thursday.
Mahendran, an Oxford-educated graduate, has nearly 30 years of experience in the financial services industry across Asia, serving in both private companies and public sector bodies.
He holds an MA in Philosophy, Politics, and Economics from Oxford and his most recent position was chief investment officer at Dubai-based Emirates NBD's wealth management arm.
Mahendran was the former head of the island nation's state-run Board of Investment under the government headed by current Prime Minister Ranil Wickremesinghe between 2001 and 2004.
The veteran banker was the managing director of HSBC in Asia from 2008 to 2013 before moving to Emirates NBD Wealth Management. He has also worked at international lender Credit Suisse.
Former Central Bank Governor Ajith Nivard Cabraal, a political appointee since 2006, resigned on Friday after Rajapaksa lost his bid to be re-elected president for a third term.
Under Cabraal, Sri Lanka achieved annual average growth of 6.8 percent for an economy now worth $76 billion a year, and inflation held in single digits for more than 70 straight months.
Some independent economists and opposition politicians, however, say some macroeconomic data have been massaged in recent years to present a rosier picture, attract investors and get lower rates on foreign loans. Cabraal rejected those claims.
Sirisena's coalition government, headed by the pro-business United National Party, has said it will audit the economic numbers before deciding on economic policies.
Mahendran, an Oxford-educated graduate, has nearly 30 years of experience in the financial services industry across Asia, serving in both private companies and public sector bodies.
He holds an MA in Philosophy, Politics, and Economics from Oxford and his most recent position was chief investment officer at Dubai-based Emirates NBD's wealth management arm.
Mahendran was the former head of the island nation's state-run Board of Investment under the government headed by current Prime Minister Ranil Wickremesinghe between 2001 and 2004.
The veteran banker was the managing director of HSBC in Asia from 2008 to 2013 before moving to Emirates NBD Wealth Management. He has also worked at international lender Credit Suisse.
Former Central Bank Governor Ajith Nivard Cabraal, a political appointee since 2006, resigned on Friday after Rajapaksa lost his bid to be re-elected president for a third term.
Under Cabraal, Sri Lanka achieved annual average growth of 6.8 percent for an economy now worth $76 billion a year, and inflation held in single digits for more than 70 straight months.
Some independent economists and opposition politicians, however, say some macroeconomic data have been massaged in recent years to present a rosier picture, attract investors and get lower rates on foreign loans. Cabraal rejected those claims.
Sirisena's coalition government, headed by the pro-business United National Party, has said it will audit the economic numbers before deciding on economic policies.
(Reporting by Shihar Aneez; Editing by Clarence Fernandez)
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