Bank Hapoalim chairman Dankner resigns

Dan Dankner will be replaced by Yair Seroussi.

Bank Hapoalim (TASE: POLI) chairman Dan Dankner notified the bank's board of directors today of his resignation. He said that he was asking to step down based on "differences of opinion with the Bank of Israel."

The resignation will take effect in a few weeks. He will stay on a director until the end of the year.

Dankner will be replaced by Morgan Stanley (Israel) head Yair Seroussi, who will initially be appointed as a director and vice chairman. He will become chairman when Dankner leaves.

Sarusi was the choice of Hapoalim controlling shareholder Shari Arison, and was preliminarily approved by the Bank of Israel. Over the next two months, the Bank of Israel will conduct further screening of Seroussi in order to approve his appointment.

Seroussi will now leave all his other private businesses, including his role as chairman of Mustang Private Equity, which he founded with IDB.

Bank Hapoalim president and CEO Zvi Ziv is due to leave the bank in a few days. Acting CEO Zion Keinan will succeed him.

Bank Hapoalim's share rose 2.5% by early afternoon to NIS 10.88.

Published by Globes [online], Israel business news - - on June 1, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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