Investment house executive commits suicide

Danny Barak, 48, a well-known and highly respected figure, jumped from the firm’s headquarters on the 17th floor of the Platinum Tower in Tel Aviv.

By SHARON WROBEL
June 7, 2010 06:21
1 minute read.
Psagot

Psagot. (photo credit: .)

Leader Capital Markets CEO Danny Barak committed suicide Friday.

“We are in shock. The incidence is a mystery to everyone. We have no explanation,” said a company spokesperson for investment firm Leader Capital Markets, a subsidiary of Leader Holdings & Investments Ltd.

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Barak, 48, a well-known and highly respected figure in the local investment community, jumped from the firm’s headquarters on the 17th floor of the Platinum Tower in Tel Aviv. He is survived by his wife and four children.

“Barak joined us in 2000, and together we founded and built up Leader Capital Markets,” Leader Capital Markets chairman Yair Fudim said. “His professional abilities contributed to the positioning of Leader Capital Markets as a leading pillar in the Israeli capital market. Barak’s passing away is a great loss not just to our group but to the Israeli capital market as a whole.”


At the end of last year, Barak, who held a 15.5 percent stake in Leader Holdings & Investments, lost out to businessman Dan David in a bid to become the controlling shareholder.

Barak was expected to step down as CEO of Leader Capital Markets in 2011 but was given the option of remaining chairman.

Barak was known for his investment savvy. He was experienced in brokerage activities and investment banking, including private and public offerings.



During more than 11 years working in the capital market, Barak held several management positions, including manager of Psagot Mutual Fund’s economics department and deputy general manager of Ofek Securities and Investments. He was appointed CEO of Leader Capital Markets in 2001.


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