Banking/Financial maestro no more

Banking consultant Ravi Abeysuriya has passed away. With a proven track record of establishing and managing several Financial Sector Institutions in Credit Rating, Investment Research Outsourcing, Investment Banking, Stock Broking and Asset Management, Abeysuriya possessed over several decades of hands-on practical experience and broad knowledge of financial market operations in Sri Lanka.

He was directly involved in recommending several financial sector reforms that have been successfully implemented, working closely with the Ministry of Finance (MOF), the Central Bank of Sri Lanka (CBSL), the Securities Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE).

Abeysuriya’s extensive knowledge of the regulatory and operational issues of the SEC, capital market supervision & training was amply proved by having been twice appointed as a commission member to the SEC. His understanding of Banking and Insurance was so thorough having functioned as a permanent member of the Financial Sector Reforms Committee, a Prime Ministerial Task Force, Director of Sri Lanka Insurance Corporation Ltd and a member of Board Risk Oversight Committee and Financial System Stability Consultative Committee of the CBSL and an independent director of Seylan Bank. . As the first CFA Charter holder in Sri Lanka, he played a pivotal role in founding the Chartered Financial Analyst (CFA) community in Sri Lanka, known as the “CFA Society” and acted as the first founder President. He was the laureate of the “Lifetime Achievement” award by CFA Institute, USA in 2017 for his excellent and dedicated work towards the investment management profession.

Additionally, one of his key contributions was his role as the founding member and first head of Fitch Ratings’ Sri Lanka unit. He played a fundamental role in establishing a robust credit rating system in the country during his tenure as the Managing Director / CEO of Fitch Ratings SL from 1999 to 2004.

He was also the founding Managing Director of Amba Research in Sri Lanka a pioneer global investment research outsourcing company, during the period 2004 to 2009. During his career, he authored a book titled “Financial Literacy to Achieve Your Financial Wellbeing” in a bid to promoting financial literacy amongst the general public.

From 1997 to 1999, he was the head of Corporate Finance at Jardine Fleming HNB Capital Ltd (later J.P. Morgan Chase Co), Sri Lanka. He was appointed as a member of the Presidential Commission on Finance and Banking in the capacity of a Financial Analyst where he examined the performance of the CBSL, commercial banks, merchant banks, and finance companies, with a view to recommending necessary institutional reforms. Determined the financial health of finance companies and evaluated the effectiveness of CBSL’s supervision of finance companies.

Among the many positions that he held over the years, and at the time of his demise was the Chairman – Colombo City Holdings PLC, Chairman – Sherwood Capital (Pvt) Ltd, Independent Director – Seylan Bank PLC, Independent Director – HNB Assurance PLC, Independent Director – Bio Foods (Pvt) Ltd. He was also the Chief Executive Officer / Director – Senfin Securities Limited. His remains lie at the Jayarathna Respect home. His funeral will take place at 12 noon on Saturday 28th at old Crematorium Kanatte.