Lehman Brothers, which was the first global investment bank to open an office in Tel Aviv, has appointed Leonard Rosen, as country head of Israel, moving the managing director and head of Israel investment banking to Tel Aviv after 12 years in New York. "Len's relocation to Tel Aviv demonstrates the continued importance of the Israeli market to Lehman Brothers," said Perry Hoffmeister, Lehman's co-head of investment banking Europe. "Our commitment to Israel is paying off and it makes sense for us to have a country head physically located there." Since 1995, Lehman Brothers, which served as adviser on Teva's acquisition of Ivax, has acted as bookrunner on 56 Israel-related equity offerings, raising more than $10 billion. "We have already closed a number of very important Israeli transactions this year and we are looking forward to continuing this momentum," Hoffmeister noted. Rosen has been part of the Israel team since joining Lehman Brothers in 1994. In the past, he was personally involved in a number of transactions for the bank's Israeli clients including Comverse Technology, Verint Systems, Ormat Technology and Saifun Semiconductors, as well as the Government of Israel and the Israel Electric Corporation.