WHEN HE quit Citigroup and forfeited a lucrative salary to take on the task of Governor of the Bank of Israel, it was common knowledge that Stanley Fischer would be earning a lot less than in his previous position. It was a noble sacrifice in the name of Zionism. Fischer had been called to come to the aid of the Jewish State - and he answered the call. How much of a sacrifice that was is revealed in a Globes report that quotes a list of comparative salary figures published by the Central Bankers' Forum in London.
Fischer who is paid at the same salary level as a government minister, earns far less than his counterparts in the world's leading central banks. Fischer's annual salary is equivalent to $94,000 per year, rising to $120,000 with expenses. In 2005, Alan Greenspan, the former chairman of the Federal Reserve Board earned $180,000. The highest salary was earned by the governor of the European Central Bank, who was paid more than four times as much as Fischer, and received $585,000 per annum. Next was the Governor of the Netherlands Bank with $485,000.The governor of the Central Bank of Ireland earned $373,000 which is also considerably higher than Fischer's salary.
THERE IS no substitute for the know-how and connections of a commercial attache', said Raanan Dinur, the director-general of the Ministry for Trade and Industry as he announced the appointments of Israel's new commercial representatives on three continents. Yair Shiran the deputy head of the department for foreign trade and international agreements will replace Zohar Perry as commercial representative in New York. Gil Erez, who headed the European desk and is currently on leave while studying at the College for National Security, will replace Meron Hacohen as commercial representative in London. Noa Asher, head of the Chief Scientists Bureau will replace Moshe Shaham as commercial representative in Chicago. Tzachi Zeltzer, deputy head of the North American desk will replace Mounir Ajbariya as commercial representative in New Delhi. Natalie Gat, the deputy head of the Division for Bilateral Agreements will replace Rachel Hirschler as commercial representative in Brussels. Yoram Giladi, head of the North American desk will replace Yossi Perry as commercial representative in Vienna. Avi Friedman, a senior economist in the ministry will replace Ronen Katz as commercial representative in Warsaw, and Amiram Halevi Lahar who head the Asia and Pacific desk, will take up his duties as commercial attache' in Tokyo.
LEUMI BANK has appointed Arik Ashbel as the bank's commercial manager in place of Hanoch Wolf who transferred to Leumi Card. Ashbel's previous position as commercial manager for the capital and the south of the country has been taken over by Eli Mandelbaum who, prior to his promotion, was manager of the Leumi business branch at Har Hotzvim, one of the technological parks in Jerusalem.
MAGEN DAVID Adom has announced the appointment of Ariel Zelichov as an external legal adviser, following a review by a special appointments committee. Candidates from leading law firms were interviewed over a period of several months to determine who was best suited for the heavy daily workload that demands expertise in many areas of law. Zelichov, who has considerable experience, is the permanent legal representative for several major institutions and companies, and has particular expertise in financial, commercial, securities and real estate transactions as well as arranging financing for projects.
After five years as spokesperson and head of the information department of the Labor Exchange, Batya Kuris is leaving. She has not yet announced her new position.
DISCOUNT BANK has published a list of new appointments. Included in the list are Hezi Mansur, head of the Jerusalem and the south division who has been promoted to deputy head of the commercial division; Shlomo Shinbaum, head of the retail division in the Sharon area to deputy manager of the overall retail division; Rami Shteif, head of the development and training department within the human resources division to deputy head of marketing and strategic planning; and head of the marketing and advertising department. Shteif is being replaced in his former position by Shosh Kimchi who was the bank's spokesperson for eight years and who also managed the marketing and advertising department. Other changes include Shlomo Avidan, head of the Ofek project within the operations and data department, to head of operations; Arye Cohen from operations manager to head of foreign trade in the commercial division; and Avi Cukier who has been transferred from foreign trade to manage the Coastal Plain and south Tel Aviv retail division.