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# Bank of Ceylon Appoints Y.A. Jayathilaka as Acting General Manager and CEO Following Russel Fonseka's Departure
- URL: https://www.theglobalbanker.com/bank-of-ceylon-appoints-ya-jayathilaka-acting-general-manager-ceo-fonseka-retirement/
- Published: 2025-08-07T14:19:00.000Z
- Updated: 2026-10-02T14:09:06.000Z
- Description: Y.A. Jayathilaka has been named Acting General Manager and CEO of Bank of Ceylon after Russel Fonseka's service contract ended, taking the helm at Sri Lanka's largest state-owned commercial bank.
- Author: TGB Editorial Team
- Tags: Executive Moves, Asia-Pacific, #archive

Bank of Ceylon has appointed Y.A. Jayathilaka as Acting General Manager and Chief Executive Officer, effective 6 August 2025, after Russel Fonseka concluded his contracted service period on 5 August. The transition places Jayathilaka at the head of Sri Lanka's largest state-owned commercial bank.

Russel Fonseka, who became General Manager/CEO in January 2023, led Bank of Ceylon through the aftermath of Sri Lanka's 2022 sovereign debt default and the ensuing restructuring of the country's public finances. 

#### ABOUT BANK OF CEYLON

Bank of Ceylon is the largest commercial bank in Sri Lanka by assets. As a state-owned institution, it carries both commercial banking responsibilities and a developmental mandate. 

#### ABOUT JAYATHILAKA

Jayathilaka, a banker with more than 28 years' experience, was previously Deputy General Manager – Product and Banking Development, and has held senior roles in support services, recovery, development banking and product development.