THE PHOENIX RISES

If Kotelawala had intended to crush and humiliate NU, the former underestimated NU's resilience and tenacity - as well as how indispensable he was to others.

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As Neiliya observed, "The Central Bank crisis was an event that changed the future of our family for the better in a way." A mere six months after NU's removal from the Bank, announcements appeared in the local and British press that NU had been appointed as the joint managing director of the J.H. Vavasseur Trading Company. This was another landmark in his life and career, and a major turning point. He became the first Sri Lankan to be given such a position in a British-owned company.

Vavasseur, an old established British firm founded in 1884, was the first in Sri Lanka to process and export coconut products. The firm's Colombo office was engaged in the production of desiccated coconut, coconut fibre, and shell charcoal for its parent company in London to export to Europe (Villiers, 1940, pp.230-31).

Geoffrey Buxton, Chairman of the UK company, had heard that NU was available to take up an appointment in the private sector, and he was recommended by C.F. Cobbold, Governor of the Bank of England.

Vavasseur was looking for a managing director for their Colombo office and offered the post to NU. Before accepting the position, NU went to London to study the internal systems of the company. While there, NU suggested several changes, which Buxton and his Board accepted.

At the age of 48, NU then embarked upon a new career in the private sector - another realm in which he would dominate for several decades, with what Exter termed his "unrivalled view of the economy." NU's long participation at both the ground and policy levels, provided him with insight into banking, finance, and commerce, enabling him to extrapolate beyond the present, and forge new trails.