Jacob Frenkel candidate for Leumi chairman

Other candidates are former ISA head Moshe Tery, and National Economics Council chairman Ori Yogev.

Sources inform ''Globes'' that Jacob Frenkel has been mentioned as a possible candidate for chairman of Bank Leumi (TASE: LUMI). His name came up in conversation between Minister of Finance Yuval Steinitz and Prime Minister Benjamin Netanyahu.

Frenkel responded that he was "unaware of this".

The idea is that Frenkel, a former governor of the Bank of Israel, and well-known professor, would not be a controversial figure.

Frenkel, 66, was governor of the Bank of Israel in 1991-2000. He then joined Merrill Lynch, becoming chairman of Merrill Lynch International in 2002. He was appointed vice chairman of American International Group Inc. (NYSE: AIG) in 2004, from which he announced his resignation last week.

Other possible candidates for the post are former Israel Securities Authority chairman Moshe Tery, and National Economics Council chairman Ori Yogev, a former budget director at the Ministry of Finance. Both men are believed to have a good chance at the job.

Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2009

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

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