The board of directors of investment house Psagot, owned by Apax Partners, appointed Reuven Kaplan as CEO. He will take up the post in the next few days.

Incumbent CEO Barak Soreni notified the board of his wish to step down after three years in the post and 21 years in the Psagot group. Soreni will ocninue to act as a consultant to Psagot.

Psagot, which is for sale, is the largest investment house in Israel, with some NIS 187 billion under management for some 1.3 million customers. It is active in almost all areas of financial services, apart from underwriting. In recent years it entered the insurance business, and exited from it.

Reuven Kaplan has more than twenty years experience in management. He recently ended a term of four years as CEO of Amidar, and before that he was at Clal Insurance for eight years as deputy CEO and CEO of health insurance division Clal Health. He has a second degree in business administration from the Hebrew University of Jerusalem and a first degree with a major in marketing and finance from the College of Management.

Published by Globes, Israel business news - en.globes.co.il - on September 15, 2019

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