Bank Hapoalim (TASE: POLI) is carrying out restructuring and personnel changes in its international operations. Sources inform ''Globes'' that CEO Zion Kenan is restructuring Bank Hapoalim USA operations to give the manager at the bank's New York office full control.
Currently, management of the New York branch, which mainly handles corporate banking, and management of the Miami branch, which mainly handles private banking, independently report to Tel Aviv. Under the new structure, the head of US operations will have two subordinate branch managers, and will report to Bank Hapoalim head of international banking Orit Lerer.
Bank Hapoalim has appointed Yair Talmor to the new position. Talmor (56), is currently deputy CEO at Bank Leumi USA, and will now go over to the opposition. Bank Leumi president and CEO has okayed the move. Talmor has 27 years experience in US banking and a BA and MA from the Hebrew University of Jerusalem.
Bank Hapoalim USA manages a $2 billion credit portfolio and its balance sheet total is $6.1 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2011
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