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THE DEMISE OF THE MANAGING AGENT – IS IT A PARADIGM SHIFT?-by HUGH KARUNANAYAKE Source:Island The commercial sector in Sri Lanka, long regarded as the engine that pushed economic growth in the island, was almost up to the end of the last century dominated by agency houses, a relic of colonial days. When the country then known as Ceylon was flourishing within a global economy dominated by US and British interests up to the middle of the twentieth century, its plantation driven economy was managed largely by agency houses. Companies like George Steuarts, Carson Cumberbatch, Whittalls, Gordon Frazer, Bosanquet and Skrine ( subsequently merged with Whittals), Hayleys, Mackwoods, Leechmans, and others were managing agents acting on behalf of plantation companies or proprietary planters in managing and operating estates. Income from the plantation sector dominated the national budget. With the granting of independence to the erstwhile colony, and the gradual withdrawal ...