Lilach Asher-Topilsky, a senior partner in FIMI Opportunity Funds, was appointed chair of G1 Secure Solutions today. FIMI holds 67% of G1 Secure Solutions. Asher-Topilsky was chair of Israel Discount Bank from 2014 until early this year, when she announced her resignation from the bank in order to join FIMI. It is commonly believed that the spur for her decision was the salary cap for managers in the financial systems, which limits annual salary cost recognized for tax purposes to NIS 3.5 million. Asher-Topilsky is replacing Eldad Ben-Moshe. G1's CEO is Michael Adiv.
G1 provides guarding and security services, operates patrol and control centers, and provides technological services for command and control systems. The company published good financial reports yesterday, with NIS 205 million revenue in the third quarter, 0.5% more than in the corresponding quarter last year. Net profit totaled NIS 11 million in the quarter, 4% more than in the corresponding quarter in 2018. G1's share price responded to the news with a 9% jump, and has now gained 22% since trading in the share began in late 2018. G1's current market cap is NIS 555 million.
Published by Globes, Israel business news - en.globes.co.il - on November 25, 2019
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