Union Bank announced the appointment of Mr. Nirvana Chaudhary as the Chairman of Union Bank with effect from 21 December 2023. Mr. Chaudhary was appointed as a Non-Executive, Non-Independent Director to the Union Bank Board in October 2023. Mr Chaudhary has extensive experience as a business leader and is presently the Managing Director of CG Capital Partners Global Pte Ltd and Chairman of several companies within the global conglomerate CG Corp Group of Nepal. He holds a Bachelor of Business Administration and a Master of Business Administration (MBA) from Kathmandu University, Nepal and has completed the Entrepreneurial Masters Programs at London Business School, UK and Massachusetts Institute of Technology, USA.
Union Bank also welcomes the appointments of Mr. Malay Mukherjee and Mr. Sanjay Pokhrel to its Board of Directors.
Mr. Malay Mukherjee is an experienced banker with over 42 years of experience in Audit, Risk, and IT, and was appointed as a Non-executive, Non-independent Director of Union Bank in October 2023. Mr Mukherjee has held many key positions in the banking sector in India and presently serves as a Director of Nabil Bank Limited, Nepal where CG Corp Global is the major shareholder. He holds a Master of Science (MSc) in Physics from Banaras Hindu University, India and was awarded an Honorary Fellowship in Banking and Finance from the Indian Institute of Banking and Finance, India.
Mr. Sanjay Pokhrel was appointed as a Non-Executive, Non-Independent Director of Union Bank in November 2023. Mr Pokhrel is a highly experienced financial expert and a Chartered Accountant with extensive experience in Investment Management, Mergers and Acquisitions, and Asset Management. Currently, he is the Head of Mergers & Acquisitions at CG Corp Global in Dubai.
These appointments bring a wealth of experience and expertise to Union Bank marking a strategic move to strengthen and diversify its strategic capabilities and leadership and come at a pivotal time, reflecting the Bank’s commitment to fostering growth, innovation, and excellence in banking services.
Profile of Mr. Nirvana Kumar Chaudhary
Mr. Nirvana Kumar Chaudhary has extensive experience as a business leader and is presently the Managing Director of CG Capital Partners Global Pte. Ltd, Singapore. Mr. N. K. Chaudhary also serves as the Chairman of CG Foods (Nepal) Private Limited, CG Brewery Nepal Private Limited, CG Electronics Private Limited, CG Cement Industries Private Limited, CG Pay Nepal Private Limited, and Middle Modi Hydropower Limited, Nepal. He serves as a Director on the Boards of Nabil Bank Limited, Nepal, CG Foods Bangladesh Limited, Moldcell – Moldova, CG Finco Limited, Nepal and Himal Hydro and General Construction Limited, Nepal. He holds a Bachelor of Business Administration and a Master of Business Administration (MBA) from Kathmandu University, Nepal and has completed the Entrepreneurial Masters Programs at London Business School, UK and Massachusetts Institute of Technology, USA
Profile of Mr. Malay Mukherjee
Mr. Malay Mukherjee counts over 42 years of banking experience primarily in the areas of Risk, Audit, and IT. He holds a Master of Science (MSc) in Physics from Banaras Hindu University, India and was awarded an Honorary Fellowship in Banking and Finance from the Indian Institute of Banking and Finance, India. Mr. Mukherjee presently serves as a Director of Nabil Bank Limited, Nepal, as Independent Director of Shivalik Small Finance Bank, India and Dilip Buildcon Limited, India and also works as a Consultant to the Asian Development Bank. He has previously served as the Managing Director and Chief Executive Officer of IFCI Limited, India (December 2013 to December 2016), an Executive Director of the Central Bank of India (September 2012 to December 2013), the General Manager in charge of the Risk Management Department and the Technology Management Department of Indian Bank at its Corporate Office in Chennai, India. He was the Chairman of the Board of Directors of Management Development Institute and Institute of Leadership Development and a Member of the Governing Body of Entrepreneurship Development Institute of India. He was also the Chairman of the Board of Directors of IFCI Factors Limited, IFCI Infrastructure Development Limited, Tourism Finance Corporation of India Limited, IFCI Financial Services Limited, IFCI Venture Capital Funds Limited and Stock Holding Corporation of India Limited.
Profile of Mr. Sanjay Pokhrel
Sanjay Pokhrel is a Chartered Accountant with experience in Investment Management, Mergers and Acquisitions, and Asset Management. Currently, he is the Head of Mergers & Acquisitions at CG Corp Global in Dubai. He is responsible for leading investment processes, co-leading fundraising initiatives, leading asset management functions, leading venture capital investments, and monitoring the secondary market investment portfolio. He has also led Nepal Social Business, CG Pay, and CG’s newly launched FTTX business. Before joining CG Corp Global, he worked as an Investment Officer at One to Watch Nepal Pvt. Ltd. from October 2017 to August 2019. One to Watch is an impact investment management company that invests in early-stage Nepalese businesses. Sanjay was responsible for leading the investment process for off-grid renewable energy, consolidating, and analyzing financial data, consulting with senior colleagues and investment committee members, and providing workshops, boot camps, and mentorship to selected companies. Sanjay’s major accomplishments include leading the process of closing the share purchase agreement for a listed commercial bank in Sri Lanka, supporting the International M&A team in financial analysis and due diligence review. He also supported the team during the USD 32 Mil acquisition of Mobile Network Operator (MNO) in Moldova. Further he co-led setting up of Torana Ventures – an USD 2 Mil tech-focused corporate venture capital fund and executed the investment deal worth USD 200 k from the VC fund in a fintech company based in the UK.
About Union Bank
With over 28 years of experience in the financial services sector in Sri Lanka, Union Bank offers a complete range of products and services to customers in the personal, corporate and SME banking segments with an island-wide branch network. Listed in the Colombo Stock Exchange, since 2011 Union Bank continues to remain resolute with a strong capital position well above the regulatory requirements. The Bank’s strategic diversifications include National Asset Management Limited (NAMAL), Sri Lanka’s premier asset management company and UB Finance Company Limited. Brand Finance has ranked Union Bank amongst Sri Lanka’s most valuable one hundred brands since 2012. For more information, visit: www.unionb.com.
