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(photo credit: Courtesy)
THE FORMER director general of the Finance Ministry, Dr. Yossi Bachar, has been elected chairman of the Executive Committee of the University of Haifa. Bachar, 52, a CPA, served as the ministry's director general from 2003-2007 during which time he led the implementation of macroeconomic policies that stimulated the Israeli economy to continued growth and prosperity.
Bachar was among the initiators of a comprehensive reform in the Israeli capital market known as the "Bachar Reform." As the person responsible for international affairs at the Ministry of Finance, Bachar worked to advance the economic dialogue with the American government as well as the economic connections between Israel and the Palestinian Authority. Prior to joining the Finance Ministry, he served as Managing Partner in the accounting firm Liuboshitz, Casirer & Co. - Arthur Andersen, one of the five largest Israeli accounting firms at that time. A Hebrew University alumnus, Bachar graduated with honors with a degree in economics and accounting. He received his MBA and Ph.D. in finance from the University of California (Berkeley). From 1986-1991, he served as a faculty member of the Graduate School of Business at Columbia University. In the early 1990s, he was an adviser to the Israel Securities Authority and was also a faculty member of the Business School of Tel Aviv University. His latest appointment was welcomed by University of Haifa President Prof. Aron Ben Zeev who noted Bachar's "rich experience, professionalism, talents and integrity," which he said would contribute greatly to the continuing development of the University of Haifa as a leading research university.
MERRILL LYNCH has announced the appointment of Sigal Shapira as head of Global Wealth Management (GWM) for Israel, based in Tel Aviv. Shapira's main goal will be to expand GWM business in the Israeli market, in addition to managing operations and services for Israeli clients worldwide. She will work closely with a global team of 15, based in Tel Aviv, New York, London, Paris and Geneva.
Shapira joined Merrill Lynch in 2000 as a senior international financial adviser, managing client portfolios of over $1 million. Prior to this, she worked as an attorney in the economic investigations department for the Israel Securities Authority. Shapira holds an MBA from City University of New York and BA and LLB degrees from Tel Aviv University Law School and School of Economics. Shapira's appointment to head of Global Wealth Management, demonstrates Merrill Lynch's commitment to the Israeli market, said Ricardo Morean, Director of GWM's New York International Complex and Head of UHNW strategy. "We believe that Israel is an important market with significant opportunity to grow and I am confident her experience and familiarity with both the international and local markets will further build on the service we offer our Israeli clients by bringing them the full benefits of the firm's global capabilities," he asserted.
WHEN HE purchased the financially ailing Hamashbir department store chain a few years back, even his closest associates doubted that Rami Shavit could turn the chain's fortunes around and make it a profitable operation. Not only did he prove all the "Doubting Thomases" to be wrong, but he's expanded his empire in several directions, and most recently acquired a 68 percent stake in New-Pharm. Since acquiring Hamashbir LeTzarchan and adding the word "New" to the title, Shavit has closed down some stores and opened up new ones with the result that, today, there are 26 Hamashbir stores. He has also acquired a 66% interest in Irit Fashions, a 50% interest in Jump Fashions, joint ownership Hamichraz Shel Hamedina and a 73.77% stake in Aviation Links. The New-Pharm deal has yet to be finalized.
HAIFA HEADQUARTERED Elbit Systems Ltd. has announced the appointment of Raanan Horowitz as president and chief executive officer of the company's US subsidiary, Elbit Systems of America, LLC (ESA), a leading provider of high performance defense, homeland security and commercial aviation products and systems. Horowitz will also serve as a member of ESA's board of directors. He replaces Joseph A. Parini, who served as ESA's interim President and CEO. Parini will continue in his role as chairman of ESA. Horowitz, whose appointment became effective on October 16, joined the Elbit Group in 1989, and since 1991 he has held senior positions in the Group's US companies.
COMVERSE TECHNOLOGY, one of the world's leading providers of software and systems enabling network-based multimedia enhanced communication and billing services has issued a statement from New York with the announcement that its chairman, Mark C. Terrell, has been named to the inaugural Directorship 100 list of key players in corporate governance. The prestigious list appears in Directorship magazine, following a selection process involving a distinguished board of advisers, reader surveys and the magazine's editors. According to Directorship, "Comverse was among the first companies to adopt a proxy-access bylaw, and Terrell could transform the company into a model of good governance."
Comverse Technology's President and Chief Executive Officer Andre Dahan said, "It is gratifying to see Mark's efforts in corporate governance improvement recognized by Directorship magazine. Over the past year, Comverse Technology's Board of Directors has implemented significant governance enhancements including our new shareholder proxy-access bylaw, and greater shareholder representation on our board."
Terrell saw the honor that was bestowed on him as reflective of the entire board of Comverse. "We are collectively committed to achieving and maintaining the highest level of corporate governance and responsibility, always with the focus on maximizing shareholder return," he said.
Directorship magazine is a bi-monthly publication written for corporate board members and C-level executives. It is owned and published by NewsMarkets LLC whose products include a magazine, newsletters, an on-line edition, forums, seminars, conferences, Webcasts, and Web conferences.
In other Comverse developments, John Bunyan has been appointed chief marketing officer reporting directly to Dahan and Cynthia Shereda has been appointed vice president and senior legal adviser.
THE EXECUTIVE Committee of Ben-Gurion University of the Negev has ratified the appointment of Prof. Amos Drory as vice-president for external affairs at BGU, effective as of October 16. His responsibilities will include the external affairs of the University and, in particular, the activities of the Department of Donor and Associate Affairs, the Department of Public Affairs and the Department of Publications and Media Relations. Prof. Drory is assuming this position after serving for the past two years as the executive vice-president of the American Associates of Ben-Gurion University. University President Prof. Rivka Carmi applauded the appointment, noting that, "Prof. Drory's familiarity both with the University and with the Associates abroad has prepared him for this critical position."
A long-time faculty member of the University, Drory has published extensively in the fields of organizational behavior and organizational politics, work motivation and stress, conflict management and impression management. He has held a number of senior positions, including Chairperson of the Department of Industrial Engineering and Management from 1988-1992 and became the Dean of the Guilford Glazer School of Business and Management soon after its establishment, serving in this capacity from 1996 - 2004. In 2005, he was appointed Dean of the University's Eilat Campus. Drory was born in Jerusalem in 1947. He earned his B.A. degree in psychology from The Hebrew University of Jerusalem and Ph.D. in Organizational Psychology at Temple University in 1976. Upon his return to Israel in 1977, Prof. Drory joined the University's Department of Industrial Engineering and Management.
THE ISRAEL-Australia Chamber of Commerce will next week host a reception for the Australian Trade Mission that is being led to Israel by Leon Kempler chairman of the Australia-Israel Chamber of Commerce. The mission, one of the largest and most prestigious to come to Israel to date, includes four parliamentarians, three of whom are ministers in their respective states and one of whom is a shadow minister. They are Craig Wallace of Queensland, Nathan Rees of New South Wales, Tim Holding of Victoria and Michelle Lensink of South Australia. All four hold multiple portfolios and are visiting Israel primarily to participate in the Watec Water Conference, which has attracted wide interest from around the globe. The parliamentarians are being joined by senior executives from water commissions and corporations in Melbourne, Sydney, Brisbane and Adelaide, academics whose area of expertise is water-related and business people. In addition to attending the conference, members of the delegation will be engaged in efforts to enhance trade relations between Israel and Australia. The reception will be attended by Australian Ambassador James Larsen who is busier than usual at the moment meeting, and in some cases hosting, various official dignitaries and delegations from Australia.
AUSTRALIANS RESIDENT in Israel are familiar with Wende's Nurseries, established a quarter of a century ago in Ein Vered by Hannah and Les Wende who came on aliya from Perth, in Western Australia with five of their six children, one of whom Vaun, now runs the plant nursery. Beginning October 28, Wende's Nursery, whose contact logo features a kangaroo, will be running a cyclamen exhibition and three-for-the-price-of-two sale of cyclamens. According to Vaun Wende, the cyclamens are now in their full glory in shades of purple, white, pink and red, and this is a great time for people who are partial to cyclamen to plant cuttings
RA'ANANA HEADQUARTERED Retalix Ltd., a global provider of software solutions for retailers and distributors, has announced the appointment of Hugo Goldman as executive vice president and chief financial officer of the company. Goldman has a 25-year record in financial and executive positions in hi-tech and publicly traded companies. Until recently, he served as chief financial officer of AxisMobile, a provider of mobile e-mail technology traded on the AIM market of the London Stock Exchange. Prior to this, Goldman was CFO of Nasdaq-listed VocalTec Communications, a provider of carrier-class multimedia and Voice-over-IP solutions for communication service providers. He held this position for close to five years, during which time he played a key role in the company turnaround, fundraising and M&A activity.
Previously, Goldman spent 16 years at Motorola Semiconductor Products Sector (now Freescale), where he served in a number of financial and managerial roles, including CFO of the Israeli operations. During this period he also led a global profitability improvement plan for a $300 million annual revenue division, while he was based in Austin, Texas. Goldman is a Certified Public Accountant and began his career at Kesselman & Kesselman (now a member of PricewaterhouseCoopers). He holds a BA in Accounting and Economics from Tel Aviv University and an MBA with distinction from the University of Bradford, UK. He is a member of the Steering Committee of the Israeli CFO Forum.
Daniel Moshaioff, who has served as the CFO of Retalix for eight years, will be appointed executive vice president of business development.