The Bank Leumi government appointments committee will this week present its candidates for the bank's next chairman, who will replace Eitan Raff. Raff is retiring after 15 years in the job. One of the leading candidates for the post is reportedly David Brodet, a former Ministry of Finance budget director and director general, and also a former chairman of Mizrahi Tefahot Bank.
On June 2, Bank Leumi's shareholders will convene to choose five new directors, one of whom will probably be the next chairman. The appointments committee, chaired by Adv. Margalit Nof, will review all the candidates, including two associates of Prime Minister Benjamin Netanyahu: former Israel Securities Authority chairman Moshe Tery, and economics advisor Ori Yogev.
Other candidates include former Africa-Israel Investments and Bezeq chairman Izzy Tapuchi, and S&P Maalot chairman Amos Sapir. Bank Leumi's largest private shareholder, Shlomo Eliahu, is expected to propose his candidate, former governor of the Bank of Israel David Klein.
After the Bank Leumi general shareholders meeting, the Bank of Israel will have to approve the five directors chosen. This will be followed by a 60-day due diligence, after which the directors can take up their posts. It cannot be ruled out that Bank Leumi's next chairman will be chosen from among the current directors, rather than one of the five new directors.
Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2010
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