Bank Hapoalim (TASE: POLI) has a new CEO. Yadin Antebi, who has been a member of the bank’s senior management for a decade, and who was previously Commissioner of Capital Markets, Insurance and Savings at the Ministry of Finance, will take over from Dov Kotler, who announced last month that he was stepping down from the post. Antebi is currently deputy CEO and head of Financial Markets and International Banking at Bank Hapoalim.
For a decade, the compensation of bankers has been limited by legislation, and their total compensation cost may not exceed NIS 4 million annually (any amount beyond that is not recognized for companies tax purposes). In 2023, Antebi’s compensation cost was NIS 3.644 million, comprising a salary of NIS 1.83 million, bonuses of NIS 725,000, and other benefits. Kotler’s compensation cost was similar, at NIS 3.8 million, the highest among the bank’s senior management.
Bank Hapoalim is the second largest bank in Israel in market cap terms. At the close of trading on the Tel Aviv Stock Exchange yesterday, its market cap was NIS 45 billion, behind Bank Leumi’s NIS 47 billion.
Published by Globes, Israel business news - en.globes.co.il - on July 1, 2024.
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