Itay Makov has been promoted to the number two position at Citi Israel Ltd. The manager of the bank's investment banking division will head a new division that will handle both investment banking and corporate banking services. The consolidation of two divisions that both provide corporate services will make it possible for a single unit to provide full customer needs.
Citi Israel's investment banking division handles merges and acquisitions, leveraging the fact that it is part of Citigroup Inc. (NYSE: C), a global bank, and is therefore able provide solutions to its Israeli customers who are seeking to raise capital overseas. Makov headed this division for three years. During this period, Citi Israel led deals for Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM), Gazit Inc. (TASE: GZIT), Actimize Ltd., and the most recent overseas bond offering by Israel Electric Corporation (IEC) (TASE: ELEC.B22).
Makov is also involved in the pending foreign bond offering by the Ministry of Finance.
Makov, 41, has worked at Citi Israel since 1995. He is the son of former Teva president and CEO Israel Makov. He has an MBA from Columbia University in New York He previously worked as an analyst for Israel at Solomon Brothers in London, before returning to Israel to hold various posts at Citi Israel.
Citigroup has been active in Israel since 2000. Citi Israel, run by general manager Ralph Shaaya, has 140 employees.
Published by Globes [online], Israel business news - www.globes-online.com - on March 11, 2009
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