Statement on the passing of Dr. Yesu Persaud

Guyana has lost a true icon in the passing of Dr. Yesu Persaud, 93, a most influential industrialist and pioneer. Guyana and the wider Caribbean would be hard pressed to find another with Dr. Persaud’s vision, accomplishments, and passion for development.

Dr. Persaud was Chairman of Demerara Distillers Limited (DDL) for nearly four decades. The transformation of that company into a modern distillery world-renowned for its famous “El Dorado” brand is credited to Dr. Persaud’s bold leadership. His management style, work ethic, and decisive leadership will be emulated by business executives for decades to come.

He was a true business pioneer, often seeing opportunities where others didn’t. He conceived a private bank during the 1960s, and several decades later, this vision became Demerara Bank Limited (DBL) which was opened in 1994 to expand loans to the private sector in a newly liberalized Guyana. Dr. Persaud served as the bank’s Chairman until his passing. Trust Company Guyana Limited (TCGL), a former subsidiary of the Royal Bank of Canada, was bought by a group of business leaders in 1984 which included Dr. Persaud. He remained a director of Trust Company until his passing. Demerara Bank Limited and Trust Company Guyana Limited are members of Guyana Association of Bankers.

Dr. Persaud’s influence in the financial sector also included the founding of the Institute for Private Enterprise Development (IPED), a micro-finance agency formed to assist micro and small enterprises. The Guyana Association of Bankers extends condolences to the family and friends of Dr. Persaud, as well as the management and staff of DDL, DBL, TCGL and IPED.