The Colombo Stock Exchange (CSE), in partnership with the Securities and Exchange Commission of Sri Lanka (SEC), the Sri Lanka Institute of Directors (SLID), and KPMG, hosted a high impact Family Business Forum under the theme:
“Building a Lasting Family Legacy: A Strategic Approach to Growth and Continuity.”
Held in Colombo, the forum attracted nearly 150 influential participants, including family business owners, next-generation leaders, industry professionals, and advisors. The event served as a timely platform to explore the challenges, opportunities, and strategic imperatives for family owned enterprises, which remain a cornerstone of Sri Lanka’s economy.
A Platform for Purposeful Transition and Sustainable Growth
The Forum addressed key themes essential for navigating the evolving dynamics of family enterprises, including:
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Succession planning and generational leadership transitions
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Governance structures for business longevity
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Separation of family and business wealth
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Long-term capital formation and listing readiness
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Redefining success beyond financial metrics
Participants engaged in deep discussions on how family-run enterprises can adopt structured and sustainable frameworks to preserve legacy, promote continuity, and embrace professionalization all while staying true to their founding values.
SEC Chairman Advocates Investment-Driven Growth
Delivering a compelling address, SEC Chairman Senior Prof. D.B.P.H. Dissabandara called for a national mindset shift from one that prioritizes savings to one that fosters investment for long term prosperity.
“We must refocus from saving to investing. Increasing our investment-to-GDP ratio is vital to unlocking real economic value,” Prof. Dissabandara said.
He emphasized the pivotal role of the capital market in enabling access to funding for SMEs and family businesses, stating:
“Capital formation is essential. A robust regulatory framework is now in place to protect investors, and there is no need to fear loss of control. Your visionary leadership will remain intact — transparency and collaboration will only amplify your legacy.”
He urged business owners to consider listing as a strategic option, positioning it as a pathway to capital, credibility, and continuity.
Global Perspective on Family Business Transformation
The keynote address was delivered by Daniel Trimarchi, Global Managing Director of the KPMG Private Enterprise Centre of Excellence for Family Business (Australia). Trimarchi shared global insights on how successful family businesses are shifting their focus:
“Success today isn’t just financial. Families are defining purpose, aligning governance, and managing wealth in ways that reflect their identity and future goals,” he said.
He encouraged attendees to redefine their legacy through intentional, human-centric, and fit for purpose governance structures, while acknowledging the unique cultural and generational dynamics of Sri Lankan family businesses.
Power Panel: Real Stories, Real Insights
A thought-provoking panel discussion featured high profile Sri Lankan business leaders who brought decades of first-hand experience in managing family run corporations and navigating succession:
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Dilshan Wirasekara, Former Chairman – CSE
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Imthiaz Esufally, Group Director – Hemas Holdings PLC
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Senaka Kakiriwaragodage, CEO – NDB Capital Holdings Ltd
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Prakash Schaffter, Executive Deputy Chairman – Janashakthi Insurance PLC
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Rushanka Silva, Deputy Chairman – Sampath Bank PLC and Managing Director – Indra Traders (Pvt.) Ltd
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Daniel Trimarchi – KPMG Australia
Moderated by Thamali Rodrigo, Partner and Head of Restructuring & Corporate Governance at KPMG Sri Lanka and Maldives, the discussion explored the delicate balance between professionalization and legacy preservation, leadership handover, capital market access, and family unity in enterprise governance.
An interactive Q&A session allowed attendees to raise questions on sensitive transition issues, succession hurdles, and governance challenges unique to Sri Lankan family enterprises.
Empowering Generational Progress Through Capital Markets
The forum underscored the urgent need for Sri Lankan family businesses which account for a major share of employment and national GDP to build long term resilience by adopting formal structures, separating ownership from management, and preparing for generational shifts.
It also highlighted the capital market’s readiness to provide tailored financing options for family enterprises through public listing, private equity, and structured advisory support.
This collaborative initiative by the CSE, SEC, SLID, and KPMG aims to empower family businesses with knowledge, governance frameworks, and growth strategies ensuring their legacy is not just preserved but also transformed for future generations.
