Ramesh Persaud leaves IPED after serving 11 years

The Institute of Private Enterprise Development (IPED) on Sunday announced the departure of Chief Executive Officer Ramesh Persaud, who served as CEO for 11 years.

During his tenure, Persaud transformed IPED in significant and substantial ways. In the last decade, 2011 to 2020 the value of the loans increased by $2B to $3.4B from $1.45. He oversaw the disbursement of 50,00 loans for a value of $30B.

Persaud also expanded the organisation adding six new branches and making it easier for clients to do business with IPED. At the same time, the clients enjoyed a substantial decrease in their interest rates.

Through these developments, IPED helped create 10,000 jobs annually through the micro, small and medium-sized business it supports.

In a farewell ceremony with staff and board members recently, incoming CEO, Jagdesh Haripershad thanked Persaud for providing “robust leadership that was always complemented by kindness, caring, good guidance and constant encouragement.”

Member of the board made what Major General Joe Singh describes as “wonderfully appropriate remarks in acknowledging the quality of leadership and service displayed by CEO Ramesh throughout his tenure and the high esteem in which he is held by the Board.”

Anticipating a continued relationship between IPED and the outgoing CEO, board member, Ian McDonald said, “We know Ramesh will always be a friend of IPED. Ramesh has been a remarkably efficient, inspirational and creative CEO, very good for small businesses in Guyana.”

Friday, April 30, 2021, was Persaud’s last day on the job at IPED before leaving for what he described as “another opportunity to learn and lead in the private sector.”

Persaud will continue to serve IPED as a member of the Board of Directors. (Modified press release)