Former Psagot Investment House CEO Yohan Kadoche is acquiring control of Sigma Clarity Investment House with the purchase of a 52% stake from European bank ANDBANK and Clarity Capital Group. Following of the completion of the transaction, ANDBANK and Clarity Capital will continue to hold shares of Sigma Clarity, and their collaboration with Sigma Clarity is expected to continue.
"I am pleased to join Sigma Clarity, a global investment firm that currently manages assets worth approximately NIS 10 billion, with professional management and a dedicated team. I believe that my international market experience will enable us to leverage the accumulated capabilities, continue the group's growth, and benefit our clients by integrating innovative tools and services, as commonly seen in leading investment firms worldwide," Kadoche said.
Completion of the transaction is subject to regulatory approval in Israel and Europe and is expected to be finalized within a few months. Kadoche will serve as Sigma Clarity's chairman alongside Alberto Garfunkel. "The entry of a group of investors led by Mr. Kadoche into Sigma Clarity expresses confidence in the company and its employees, expected to strengthen Sigma Clarity's position as a significant player in the capital market. I anticipate that with this investment, Sigma Clarity will be able to grow rapidly and enter new business areas, in addition to continuing its current operations in all sectors," Garfunkel said.
Sigma Clarity offers portfolio management domestically and globally, alternative investments, mutual funds management, pension planning agency, and more. It was formed in 2023 following the merger of the long-established investment firm Sigma, founded in 1993 by Prof. Dan Galai, with Clarity, which specializes wealth management for high net worth clients.
Before becoming CEO of Psagot, Kadoche was CEO of More Magna AM (of the More Investment House group), CEO of Meitav Dash Brokerage, and the founder and CEO of Camalia Capital Markets, which merged with Meitav Dash.
Published by Globes, Israel business news - en.globes.co.il - on February 8, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.