The Governor of the Central Bank of Sri Lanka (CBSL) functions as the chief executive of the Sri Lankan central bank. The post is the ex-officio chairperson of the Monetary Board of Central Bank of Sri Lanka. Since its establishment in 1950, the CBSL has been headed by 14 governors. The governor has two deputies and several assistant governors. The inaugural officeholder was the American John Exter who served the Government of Sri Lanka in helping found the central bank. Arjuna Mahendran, although born in Sri Lanka, held Singaporean citizenship during his term of office. The position is currently held by economist Indrajit Coomaraswamy, who took over from Arjuna Mahendran, who stepped down on 2 July 2016. The term of office last for 6 years.