Governor of the Bank of Israel Prof. Amir Yaron announced today the appointment of Yair Avidan as Supervisor of Banks. Yair will take up his position on April 16, when outgoing Supervisor of Banks Hedva Ber leaves office.
Avidan has served in a wide range of positions in the banking system for over 30 years. He began as an economist and business banker at Bank Leumi (TASE: LUMI), then as a credit officer at Bank Leumi New York and a senior transactions manager at Poalim Capital Markets. He afterwards filled a large number of different positions at Israel Discount Bank (TASE: DSCT).
At various times, he was the personal assistant of Discount Bank's chairman, head of its overseas branches division, deputy head of its business division, and served for six years as its VP and chief risk manager. He then served as senior VP and manager of Discount Bank's subsidiaries division, which involved being chairman of Mercantile Discount Bank and a director in the subsidiaries of the Discount Bank group, ICC-Cal, and Discount Bank New York. He resigned his management positions at the bank in March 2019, and served as a director in the Discount Bank group, the Midroog credit rating agency, and Automated Banking Services (Shva).
Avidan was awarded an MA in economics and statistics, summa cum laude, and an MBA and a masters in administration and leadership in education, summa cum laude, from Tel Aviv University. He also graduated an advanced management course at Harvard Business School.
Yaron said, "I congratulate Yair Avidan for his appointment to the important and challenging position of Supervisor of Banks. Avidan is taking up his position at a time when advanced technology is changing a large proportion of the rules of the game in the financial system. The public's good requires close professional supervision of the banking system in preserving the public's savings and deposits, ensuring stability in the banking system, enhancing competition, and promoting innovation in the banking system, especially in the payments system and the financial system in general. I am convinced that Yair's rich and diverse experience in Israel and overseas will contribute significantly to moving the Bank of Israel Banking Supervision Department towards the banking of the future. I thank outgoing Supervisor of Banks Dr. Hedva Ber for her great contribution to the Bank of Israel and the entire banking system during her time in office, the members of the appointments committee for their thorough and dedicated work, and all of the candidates who took part in the process and expressed interest in this important job."
Avidan said, "I wish to thank the Governor for his trust in me in selecting me as Supervisor of Banks. I am very excited at the great privilege that I am receiving in filling this public position, and I intend to contribute from the best of my ability and experience to the development and stability of the banking system, the welfare and confidence of the consumers, and the competitiveness in the system. The period is an especially challenging one, in which the system must prepare for, adapt, and facilitate technological changes, deal with business environment challenges, and change in business models, combined with changes in preferences, methods, and consumption patterns and consumers."
21 people submitted their candidacy for the position to the appointments committee, eight of whom were interviewed by the committee. Following the selection process, the committee recommended the most suitable candidates to Yaron, who selected Avidan after reviewing them, subject to the signing of the required arrangement for preventing conflicts of interest.
Published by Globes, Israel business news - en.globes.co.il - on March 3, 2020
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