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Falcon Group expands in Abu Dhabi

United Arab Emirates: Monday, December 19 - 2011 @ 15:47

Prior to this Karunaratne was Head of Corporate and Commercial Finance at Finance House, an Abu Dhabi based boutique finance company.

His banking experience comes from a long career at Sampat Bank, the leading Sri Lankan commercial bank, where he worked as Head of Corporate Banking/Business Development & Marketing, in arranging syndicated loans, as well as in corporate and business banking. Karunaratne will report to Nam Sahasra, UAE country head.

“Kapila has handled a varied portfolio of corporate clients and commands valuable business contacts in UAE,” says Sahasra. “He has a strong name with our target client base so we are very pleased he is now part of our team.”

Karunaratne will use his considerable contacts to offer corporate clients and financial institutions in Abu Dhabi customised financial solutions.

“The aim is to provide an alternative funding source for corporate and FIs,” says Karunaratne. “Many are struggling to win funding from their traditional sources of funding and it is here where Falcon can step into the breach. Certainly, it’s an exciting time to join such an innovative funder.”

Shan Weerakoon will join Karunaratne in Abu Dhabi. Weerakoon joined Falcon in 2010, after working for Abu Dhabi Commercial Bank and HSBC (also in Abu Dhabi). However, since arriving at Falcon he has been working with Sahasra in the Dubai office.

“This is a good time to be an alternative funder,” says Will Nagle, Falcon Group’s CEO. “Not only are our structures finding traction amongst corporates and FIs determined to find more innovative solutions to their funding needs, bank funding is becoming ever-more scarce as banks shrink their balance sheets.”

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Monday, December 19- 2011 @ 15:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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