Dubai-based Falcon Group has appointed Kapila Karunaratne as head of its recently opened Abu Dhabi office.

He joins Falcon from consultants Baker Tilly International-UK, where he was director of business for development, UAE, a statement from the bank said.

Prior to this, he 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, 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 use his contacts to offer corporate clients and financial institutions in Abu Dhabi customised financial solutions, the statement said.

“The aim is to provide an alternative funding source for corporates and Foreign Investors,” said Karunaratne. “Many are struggling to win funding from traditional sources and it is here where Falcon can step into the breach.”

“This is a good time to be an alternative funder,” said 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.” – TradeArabia News Service