Lehman Brothers is splitting the position of Lehman Brothers Israel managing director Ron Lubash, who is resigning from the company. Lehman Brothers managing director Leonard Rosen will be responsible for Israeli affairs in the Lehman Brothers US headquarters, while Nir Epstein will manage Lehman Brothers’ Israeli branch. The management changeover is currently underway.
Lubash is resigning after 10 years in his position, and will establish a private capital fund to specialize in investments in Israel. Lubash’s plans will make him a future customer of Lehman Brothers.
Lubash told “Globes” that Lehman Brothers’ activity in Israel would continue, due to the company’s business commitment to its customers and its strategic commitment to Israel. He added that in the past decade, Lehman Brothers had conducted deals amounting to $25 billion in the Israeli market.
Lehman Brothers vice chairman Harvey M. Krueger, who will also continue as senior advisor to the Israeli branch, also cited Lehman Brothers’ commitment to remaining a dominant force in Israeli business.
In 2000, Rosen was responsible for business involving technology in Israel, and was involved several large deals for Israeli companies. These included Comverse Technology(Nasdaq:CMVT), Verint Systems (Nasdaq: VRNT), Teva (Nasdaq: TEVA; TASE:TEVA), the government of Israel, and the Israel Electric Corporation. In his new position, Rosen will spend a great deal of his time visiting Israel to develop opportunities for Lehman Brothers.
Epstein has hitherto covered various sectors for Lehman Brothers, including finance, telecommunications, and technology. He was involved in the state’s issue of Bank Leumi (TASE:LUMI) shares, cooperation with Danone and Eden Springs, and the merger of ECI Telecom(Nasdaq:ECIL) with Tadiran Communications.
Published by Globes [online] - www.globes.co.il - on May 25, 2003