Mr. Ron Fainaro CPA will join Leumi as a member of management, and will serve as head of the Finance and Economics Division, replacing Mr. Yaakov (Kobi) Haber, recently appointed as head of the Corporate Banking Division
Prof. Danny Tsiddon is to replace Mr. Haber as Chairman of Leumi Partners
Ms. Sharon Gur, head of the Planning, Budget and Payments Department in the Finance and Economics Division, is to be promoted to the position of deputy head of the Division
Ms. Nitza Rousso-Shtauber is to be appointed head of Private Banking in Israel and Overseas
The activity of the Group Strategy Division, headed by Mr. Avner Mendelson, is to be expanded, and the Division will now be called Group Strategy and International Operations
In accordance with the decision of Leumi’s Board of Directors, Leumi President and CEO Ms. Rakefet Russak-Aminoach today announced a number of changes in the Bank’s Management in the Finance and Economics Division, the international and private banking activity of the Group, and in Leumi Partners. These appointments are subject to the approval of the Supervisor of Banks.
1. Changes in the Finance and Economics Division:
Mr. Ron Fainaro CPA will join Bank Leumi as a member of management, and will replace Mr. Kobi Haber as head of the Finance and Economics Division. Mr. Fainaro, 45, has a BA in Accounting from Tel Aviv University, and a second BA in Physics and Materials Engineering from the Technion. He has served as vice president in a number of companies, including Vice President of Finance and member of management in Africa-Israel Investments, and Vice President of Finance in Ectel, Tecnomatix Technologies Inc., Tecnomatix Unicam (USA), Lucent Technologies (Israel), and Habas Investments Ltd.
Ms. Sharon Gur, head of the Planning, Budget and Payments Department in the Finance and Economics Division, will continue in her position and is to be promoted to deputy head of the Division. Ms. Gur, 44, who has a BA in Economics and an MBA from Bar-Ilan University, has worked for Leumi for 19 years.
2. Changes in international and private banking activity
In order to optimally meet the current challenges in the areas of private banking and international activity, and in an attempt to increase management support and focus, reinforce control processes, and to realize group synergy, the President and CEO has decided to introduce several organizational changes in these areas.
Ms. Nitza Rousso-Shtauber, who serves as deputy head of the International and Private Banking Division, is to be appointed head of Private Banking in Israel and Overseas. The Division will be responsible for the coordination, focus and management of private banking activity in Israel and abroad, including the Bank’s offices in Switzerland and Luxembourg and its representative offices abroad which deal with private banking. Ms. Rousso-Shtauber, 62, who has a BA in Business Management and Economics from the Technion, and an MBA from Tel-Aviv University, has worked for the Bank for 11 years, most recently as deputy head of the International and Private Banking Division. Before joining the Bank, she served as CEO of Ofek Securities and Investments.
The activity of the Group Strategy Division, headed by Mr. Avner Mendelson, is to be expanded, and the Division will now be called Group Strategy and International Operations. The Division will be responsible for the headquarters of the Bank’s international activity, in addition to its responsibility for Group strategic planning processes. Amongst its other functions, the Division is charged with setting up Leumi’s representative office in China. Mr. Mendelson, 37, has a BA in Economics and International Relations from the Hebrew University, graduated cum laude with an MBA from the Wharton School of Business, and has worked at Leumi for five years. Prior to joining the Bank, Mr. Mendelson worked in the London office of the international consultancy firm McKinsey.
President and CEO Russak-Aminoach attributes high priority to international and private banking activity. Consequently she has decided that in addition to headquarters activity, a member of management will be assigned to each of Leumi’s offices abroad, and will be directly responsible for supporting and developing the office’s business. This will serve to increase business activity in the overseas offices, and strengthen their central role within the Group and their communications with Management. Accordingly, Ms. Rousso-Shtauber, who serves as Director of Leumi Private Bank (Switzerland) and Bank Leumi Luxembourg, will be responsible for these offices. Mr. Mendelson, Director of Bank Leumi USA, will be responsible for the U.S. and China. Mr. Yoel Mintz, who serves as Director of Bank Leumi UK (and in the future its Chairman of the Board), and will be Director of Bank Leumi Romania, will be responsible for these offices.
3. New Chairman for Leumi Partners
The Board of Directors also decided to recommend to the Board of Leumi Partners to appoint Prof. Daniel Tsiddon, head of Leumi’s Capital Markets Division, as Chairman of Leumi Partner’s Board of Directors. Prof. Tsiddon will be replacing Mr. Kobi Haber who is due to assume the position of head of the Corporate Division. Furthermore, this replacement is in line with the Bank’s strict segregation of duties between credit-granting activities and activity in the area of investments.