Moshe Bareket appointed capital market regulator

Moshe Bareket Photo: Tamar Matsafi

The former Phoenix chairman will be supervisor of the Capital Market, Insurance, and Savings Authority.

Minister of Finance Moshe Kahlon has appointed Moshe Bareket as supervisor of the Capital Market, Insurance, and Savings Authority. The appointments committee, headed by Ministry of Finance director general Shai Babad, which included Deputy Attorney General Meir Levin, former Israel Securities Authority chairperson Shmuel Hauser, and Israel Civil Service Commission manager of senior staff Ilan Ram, finished its work and recommended two candidates as suitable and worthy of the position.

The Ministry of Finance's announcement read, "The committee found that each of the candidates had different special strong points. Ben Sheizaf has extensive experience in insurance management and a profound grasp of the long-term savings sector. Moshe Bareket managed large companies and is experienced in regulation and government work, given his experience as manager of the Israel Securities Authority corporate department."

The Ministry of Finance's spokesperson added, "After the minister of finance assessed the two candidates and all of the aspects involved in the appointment of a manager for the Capital Market, Insurance, and Savings Authority, he decided to appoint Moshe Bareket to the job. In his decision, the minister gave considerable weight to Bareket's great capabilities and experience in all aspects of finance, including accounting, regulation, and risk, credit, and investments management, in addition to Bareket's significant advantage in ability to lead processes and manage and motivate employees. In this framework, the ministry also gave weight to the way Bareket filled his recent positions as chairman of The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) and Phoenix Insurance, and as the Securities Authority chief accountant.

"The minister also took into account Bareket's experience in leading strategic processes and his broad economic perspective. The minister of finance believes that these capabilities will enable Bareket to fulfill his duties as supervisor of the Capital Market Authority in optimal fashion and meet the challenges that the Capital Market Authority is likely to face in the coming years."

Bareket, currently a senior consultant for investment banking concerns, was previously chairperson of Phoenix Holdings and Phoenix Insurance, as well as a director in Delek Group Ltd. (TASE: DLEKG), Delek Energy Systems Ltd. (TASE: DLEN), and Elad Europe. Before that, he served as manager of the corporate department and chief accountant at the Securities Authority.

Bareket, a certified public accountant, holds a doctorate in business administration from Columbia University in New York, an MA from Columbia University, an MBA with a specialty in finance, and a BA in accounting and operations research from Tel Aviv University.

Kahlon said that he "wishes to thank the appointment committee members, headed by Babad, for their hard, thorough, professional, and impartial work, while ignoring the background noise surrounding this important appointment. I wish Bareket great success in his position."

Published by Globes [online], Israel business news - en.globes.co.il - on October 8, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Moshe Bareket Photo: Tamar Matsafi
Moshe Bareket Photo: Tamar Matsafi
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