Leumi Management Members, Mr. Baruch Lederman & Mr. Itzhak Malach, Leaving their Positions
Ms. Tamar Yassur to be appointed Head of Banking Division and Chairperson of Leumi Card. Mr. Haggai Heller to be appointed CEO of Leumi Card.
Leumi announced this morning that two members of management, Mr. Baruch Lederman, Deputy CEO and Head of Banking Division, and Mr. Itzhak Malach, Deputy CEO and Head of Operations and Computing Division, are expected to leave their positions by the end of 2012. After leaving they intend to pursue other spheres of activity.
Leumi President and CEO, Ms. Rakefet Russak-Aminoach, expressed her deep gratitude to both as well as her great appreciation for their many years of activity and contribution to the Leumi Group. Ms. Russak-Aminoach wished them success in their future careers.
Leumi's Board of Directors approved the recommendation of the President and CEO of the Bank Ms. Rakefet Russak-Aminoach to appoint Ms. Tamar Yassur, the current CEO of Leumi Card, as Head of Leumi’s Banking Division beginning in 2013 when Mr. Lederman leaves. On entering her new position Ms. Yassur will replace Mr. Lederman also as Chairperson of Leumi Card. In addition, Leumi Card's Board of Directors approved the recommendation of Leumi Board of Directors to appoint the Deputy CEO of Leumi Card, Mr. Hagai Heller, to the position of CEO of Leumi Card, replacing Ms. Yassur.
These appointments are subject to the absence of objection by the Supervisor of Banks, as required. Notice of the appointment of Mr. Malach's replacement is to be given later.
Ms. Russak-Aminoach also decided that the Compliance and Enforcement Unit headed by Ms. Meira Karni will report to the Risk Management Division, headed by Dr. Hedva Ber, starting in 2013. This is part of an overall process of concentrating the handling of risk management in the Group, streamlining internal controls and dealing with the implementation of regulatory rules as a whole.
Ms. Tamar Yassur, 47, has been CEO of Leumi Card for a year and a half. Ms. Yassur joined Leumi Group five years ago, and in her previous position was Head of Marketing at Leumi. Ms. Yassur has a Masters degree in Business Administration (MBA) from the Hebrew University, specializing in marketing. Before joining Leumi Ms. Yassur managed the advertising agency Fogel - Ogilvy and prior to that served in a number of management and marketing positions.
Mr. Haggai Heller, 57, has worked at Leumi Card for 12 years. For the last three years he has served as Deputy CEO of Leumi Card, in charge of the Finance Department, and last year was made responsible also for business development and strategy. Mr. Heller is a certified public accountant and has a BA in Economics and Accounting from Tel Aviv University. His previous positions include Deputy CEO and Manager of the Comptroller's and Operations Division at the Menorah Insurance Company, Deputy CEO and Comptroller of Mercantile Discount Bank and Manager of the Banking Division of the Israel General Bank.
Mr. Baruch Lederman, 60, is completing a five-year term as Head of the Banking Division and concluding a successful 30-year career with the Bank. During his tenure Mr. Lederman led the Division to many significant achievements, including leading the Bank in the digital domain; the massive recruitment of target populations such as affluent customers, young persons, soldiers and students; leading the process of transferring back office activities from branches to expert centers; and more. Prior to his appointment as Head of the Banking Division Mr. Lederman served successfully in a number of senior management positions in the Bank, including the position of CEO of Bank Leumi UK and Head of the Commercial Banking Division.
Mr. Itzhak Malach, 64, is concluding a career of some 20 years at Leumi, for 17 years of which he served as a member of management and Head of the Operations and Computing Division. As Head of the Division, Mr. Malach led Leumi to unprecedented achievements, while introducing the most complex development processes and equipment technology in the Israel economy – this in accordance with the requirements of the divisions of the Bank and its subsidiaries in Israel and abroad, and for use by hundreds of thousands of Bank customers. During his tenure the Bank won many accolades and awards in Israel and abroad in the fields of computing, the activation of advanced customer services, operations, preparations for providing banking services in emergencies, among others. Mr. Malach serves as a director at Leumi Card and will continue serving in this position after leaving the Bank.