DDC President Jacob Banda dies at 62

Supply

Save

E-mail

DDC President Jacob Banda dies at 62

October 19, 2009

Jacob Banda.

New York--Jacob Banda, president of the New York Diamond Dealers Club (DDC) for the past nine years, died on Friday after battling illness for the past several months. He was 62.

Born in Israel in 1947, Banda moved to the United States when he was 17.

Like his father, he started out in the industry as a diamond cutter, and then developed his career as a diamond trader specializing in fancy-colored diamonds.

During his career, Banda's sense of community drew him toward public service at the DDC, the United States' oldest and largest diamond bourse.

Banda was a member of the DDC for more than 30 years and was first elected president in 2000, heading the club during a period of great technological progress when the DDC led the world community of diamond bourses in developing an online trading presence.

Moshe Mosbacher, who has served as president of the DDC since Banda became ill last spring, said the DDC and the industry in general have lost one of its most dedicated public servants.

"We are all poorer for it," Mosbacher said in a press release. "Above all, Jacob was an advocate for the DDC membership and a man who instinctively understood the point of view of the individual. Our hearts go out to his family at this difficult time."

Internationally, Banda was elected as a member of the executive committee of the World Federation of Diamond Bourses (WFDB) in 2000.

At the WFDB, he liaised between the trade and the gem labs, heading up a special sub-committee devoted to formulating a policy related to high-pressure high-temperature treatments and lab-grown diamonds.

In addition, Banda was an active member of the World Diamond Council (WDC).

The WFDB issued a statement mourning Banda's passing.

"It is with very great sadness that we learned of his death," WFDB President Avi Paz said. "Mr. Banda was well known and respected throughout the diamond world. We knew that he had been ill for the past few months, but this nonetheless comes as a great shock to the world community. We send our condolences and best wishes to his family."

Banda's funeral was held on Saturday in Kiryas Joel, N.Y., where he was a longtime resident.

His wife, Goldie, 10 children and some 40 grandchildren survive him.

Save

E-mail

Diamond Supply

Industry calling for swift action on Zimbabwe

Jewelers of America is calling on the Kimberley Process to fully and quickly implement a work plan to address the serious concerns surrounding Zimbabwe's non-compliance with the Kimberley Process Certification Scheme, the system designed to keep conflict diamonds out of the international trade, and the reported human rights abuses in the Marange diamond fields. Read More

Diamond symposium focuses on 'new normal'

Subdued rough-diamond trade in U.S.

NYSE accepts Lazare Kaplan compliance plan

U.S. polished-diamond imports pick up in September

More Diamond Supply News

Video

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

Supply

DDC President Jacob Banda dies at 62

Diamond Supply

Industry calling for swift action on Zimbabwe

More Like This

Video

Retailer Toolbar