Bank of Israel suspends choice of Hapoalim CEO

Bank of Israel Supervisor of Banks Rony Hizkiyahu ordered an investigation into the Hapoalim appointment.

March 30, 2009 09:24
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A Bank Hapoalim branch 248.88. (photo credit: Ariel Jerozolimski)

Bank of Israel Supervisor of Banks Rony Hizkiyahu on Sunday ordered Bank Hapoalim to hold up approval of its new chief executive officer, Zion Keinan, until an investigation into the appointment is completed. Bank Hapoalim announced the appointment of Keinan, a 30-year Hapoalim veteran, as the replacement for Zvi Ziv, who resigned as last week. The central bank has launched an investigation into the reasons for Ziv's resignation and the proper procedure for Keinan's appointment. Hapoalim said Keinan's decades of experience at the bank turned him into the natural replacement for Ziv. Keinan served as Ziv's deputy and head of corporate banking.

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