Ajit Jayaratne: Colossus among giants

IT is with profound sorrow that I pen these words in tribute to the late Ajit Jayaratne, a former Chairman of the Colombo Stock Exchange (CSE) during two tenures.

- BY RAVI C. PEIRIS

Ajit, to his peers in the corporate sector and Mr. Jayaratne to all of us at the CSE, he served as Chairman of the CSE for five years from 1990-1993 and 1994-1996.

Our paths crossed in November 1984 when I joined the Colombo Brokers' Association Stock Market Trading Floor, a predecessor organisation of the CSE, as an Assistant to the Late Percy de Soysa the Consultant to the Board, to manage the Stock Market Trading floor which was open to the public. The birth of the Public Trading floor itself experienced 'prolonged labour' as every 'who's who' in the corporate sector clamoured for a stake in the newly formed stock market considered a prestige in the business world. 'Ugly' is too mild a term to describe the ensuing battles.

Steely resolve and clarity of thought

While we, relative newcomers to the organisation, remained helpless by standers so close to the arena, an abundance of dirty linen was washed in public with captains of industry unearthing skeletons from each other's cupboards with great finesse. While some wanted a stock exchange without the then practicing stock brokers with long years of experience behind them, others wanted deformed versions, too hilarious to even mention, to further boost their already bloated egos!