Bank of Jerusalem CEO Gil Topaz announced the termination of his position
Topaz, who is considered one of the most innovative managers in the banking system, announced his resignation: "He led the bank in a creative and innovative way and in a pleasant and humane way."
Sunday, 16 January 2022, 16:18 Updated: 16:20
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Gil Topaz, CEO of the Bank of Jerusalem, announced today (Sunday) to the Chairman of the Board, Zeev Nahari, that he is resigning, and that he is facing new challenges in the business world.
Topaz has been the bank's CEO for the past six years, bringing the bank to unprecedented growth. During this period, mortgage performance doubled, the bank's net profit more than doubled, and return on equity rose from 6.3% to the end of 2015 to 13% in the third quarter of 2021. These results Arrived by way of implementing an innovative strategy and creative and groundbreaking business moves.
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Gil Topaz (Photo: PR)
Topaz, 52, has held a long list of senior positions in the banking system and is considered an excellent credit man and strategist in his field.
In the past, Topaz served as a member of the Board of Directors at ICC as the Managing Director of Private Clients and previously as the Company's Risk Manager, and in other senior positions at Bank Hapoalim: Retail Credit Manager, Middle Market Commercial Customer Portfolio Manager and Strategy Unit Manager.
Now, as he informed the bank's board of directors, he is facing new challenges in the business world.
Chairman of the Board, Zeev Nahari, expressed regret over the announcement by CEO Topaz and thanked him, on behalf of the shareholders and members of the Board, for his significant personal contribution to the bank's success and prosperity - "Topaz led the bank in a creative and innovative way. In high and stable growth "and wished him great success in whatever he turned.
The Bank will act soon to establish a search process for a new CEO.
Bank of Jerusalem