Officials at the central bank feel there is no better alternative to Galia Maor as Leumi chair.
The way has been cleared for Galia Maor to become chairperson of Bank Leumi (TASE:LUMI). Sources inform "Globes" that Bank of Israel will not prevent Maor from succeeding Eitan Raff when he steps down in May. Officials at the central bank feel that there is no better alternative to Maor as Raff's successor.
The belief is that Maor would pass the Bank of Israel's "fit and proper" vetting without any problems. Officials vehemently deny reports that the Bank of Israel plans intervening to prevent Maor from becoming Leumi's chairperson.
Supervisor of Banks Roni Hezkiyahu has not yet adopted an official position on the subject of Maor yet but his considerations will not be on the legal problems of the CEO becoming chairperson, but rather the capabilities of candidates. Although the Bank of Israel is not happy about the transition of Maor from CEO to chairperson, there is apparently no reason to prohibit such a move.
Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
Eran Peer and Stella Korin-Lieber