Founded in 1881, Forbes & Walker began as a partnership between James Forbes and George Chapman Walker. The organisation rapidly established its presence as one of Sri Lanka’s leading brokering houses playing a pivotal role in the country’s tea industry.
In 1946, the Company merged with R. Gordon & Co., to form Forbes & Walker (incorporating R. Gordon & Co.,). This was the very first merger amongst brokers in Sri Lanka.
The next big change of historical importance took place on 1 April 1948, when the firm which had been incorporated as a Private Limited Liability Company on 13 January 1948, began trading as Forbes & Walker Limited. The need to convert to a limited liability company arose largely to form a business association with The London brokers. The London brokers – Wilson, Smithett & Co., Sanderson & Co., Gow, Wilson & Stanton Ltd, Charles Hope & Son, Lloyd, Matheson & Carritt, T. A. Kerr & Son, Ewart Maccaughey & Co. Ltd – were all made ordinary shareholders of the Company, while the existing directors were made management shareholders of the Company.
A major turning point was in 1975 with the nationalization of British-owned companies. The ownership and management of Forbes & Walker was handed over to the senior Sri Lankan members with Mr. R. S. Wijeyesekera becoming the first Sri Lankan Chairman.
At the turn of this century, the MJF Group (Dilmah) acquired Forbes & Walker further strengthening its position in the industry. To date, the company remains a leading player in the commodity broking business.
Notwithstanding the many new entrants to the commodity broking business over the last two decades, Forbes & Walker continues to dominate the commodity broking sector with its tea broking arm maintaining a market share of 22% and the rubber brokering a 50%-plus.
The company’s commitment to excellence has earned it the highest recognition within the industry. In addition, Forbes & Walker plays an integral part in marketing Ceylon spices with cinnamon in the forefront.