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New Century Bank appoints private equity investor to board

New Century Bank has appointed Bhanu Choudhrie, a private equity investor with investments in the US, UK, Europe and Asia, to its board of directors.

New Century Bank has appointed Bhanu Choudhrie, a private equity investor with investments in the US, UK, Europe and Asia, to its board of directors.

Choudhrie is an entrepreneur based in the UK incubating business worldwide.

He is executive director of the London-based family-owned holding company with investments in the fields of hospitality, health, travel, real estate, energy and aviation.

"We are very pleased that Bhanu has agreed to invest in our bank and to join our board," says New Century chairman and chief executive Jay Sidhu. "He brings a wealth of experience and a global perspective that are critical to success in today’s environment," continued Sidhu.

Choudhrie was named Entrepreneur of the Year at the 2008 Asian Voice Political and Public Life Awards in the UK.

"I look forward to working with Jay and the rest of the New Century Bank board," says Choudhrie. "I believe there are tremendous opportunities for the bank and providing superior returns to shareholders. Also, it is exciting to be expanding my private equity investments in the US."

Pennsylvania’s New Century Bank, with branches in Phoenixville, Kimberton, Malvern, Newtown Square and Wayne, has been a full-service, community bank since opening in 1997.

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