The board of directors of Union Bank of Colombo PLC announced the appointment of veteran Central Banker C.J.P. Siriwardana as Independent Non-executive Director, with effect from November 2, 2020. Siriwardana's appointment comes in the wake of the retirement of Priyantha Fernando from the board of the bank, with effect from November 1, 2020, having completed his nine-year service period, as per the corporate governance directions issued by the Central Bank of Sri Lanka (CBSL). Siriwardana functioned as Deputy Governor of the CBSL since August 2017, until his retirement in October 2018. He also functioned as Deputy Governor overseeing the Bank Supervision, Supervision of Non-Bank Financial Institutions, Public Debt, Payments and Settlements, Finance, Secretariat, Information Technology and Risk Management Departments and FIU.