Arab Israel Bank CEO Danny Gitter resigned his post after 35 years with the institution, the bank reported to the Tel Aviv Stock Exchange on Wednesday.
Gitter had previously announced he would step down from his role after the merger with Bank Leumi (TASE: LUMI), which became effective January 1. However, other processes were already happening at the bank including complaints received concerning allegations of money laundering.
Following the complaints, the bank launched an internal inquiry which did not find evidence of impropriety, but the matter was handed over for an external evaluation by Aliza Sharon & Co, CPA. The case is still under investigation.
Bank Leumi said in a statement: “Bank Leumi takes each complaint seriously and addresses it comprehensively. At the end of each investigation as is necessary or required the bank makes a report to the relevant authorities.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2016
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