The CEO recommended that Bank Hapoalim undergo a comprehensive change in the organizational structure

The bank's accounts will be separated from the finance division, and the chief accountant Guy Khalif will be subordinated directly to the bank's CEO.

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Of money

26/06/2022

Sunday, 26 June 2022, 11:19

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Bank Hapoalim's Board of Directors this morning approved the recommendation of Bank Hapoalim's CEO, Dov Kotler, to make changes to the bank's organizational structure and management, in order to better focus on business development and advance the bank's goals, similar to the divisions' activities in international banks

. The Bank's Divisions The Financial Markets and International Banking Division, headed by Deputy CEO Yadin Antebi, will coordinate the Bank's investment and strategic business development arm, and in addition to Poalim Equity (the Bank's real investment arm) it will also be responsible for the corporate business development units and Beat.

The Strategy, Data and Analytics units will be transferred from the Innovation and Strategy Division to the responsibility of the Finance Division, headed by Deputy CEO Ram Gev

.

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Objective: Better focus of business supervision.

Dov Kotler, CEO of Bank Hapoalim (Photo: Gadi Dagon)

Deputy CEO of the Bank Golan Sherman, who has been in charge of the Innovation and Strategy Division and a member of the Bank's management for the past four and a half years, will leave the Knesset after 27 years of work at the Bank.

In this role, he led the payment revolution at Beat: from a money transfer app to the leading and popular payment app in Israel that serves about 3 million active customers, enabling payment in online shopping, receiving insurance credits, bill payments such as property taxes, and even fundraising for the community.

Sherman led the development of the bank's analytics, business development and the creation of collaborations with fintechs.

In doing so, he formulated his banking work plans for the coming years as part of his strategic vision.

In his previous position, he headed the retail division in the retail division and managed over 200 branches.

In addition, Deputy Bank CEO Tzachi Cohen, who serves as head of the business division, announced his intention to retire from the bank after 28 years, including about a decade as a board member. Tzachi Cohen held a variety of positions in the business division and in 2012 was appointed deputy CEO Risks.

In 2018 he was appointed head of the business division.

Tzachi Cohen led a number of key and complex moves, with the business division recording impressive results.

The business division has been a leader in banking for many years and in recent years has led growth in both the business and commercial divisions.

The division under his leadership has increased the scope of its activity and leadership in the areas of business and commercial banking in a variety of industries, including financing projects in the fields of infrastructure, transportation, industry, hotels and the capital market, as well as real estate and in particular residential real estate.

In addition, a high-tech workers' unit was established in the business division.

Tzachi Cohen will be replaced by Itamar Furman, who currently serves as the Business Division Manager in the Business Division, and during his 23 years at the Bank also served as the Infrastructure, Energy and Capital Markets Sector, and in other positions in the Business Division and the Financial Markets Division.

Forman holds a bachelor's degree in economics and management from Bar-Ilan University and a master's degree in business administration from Tel Aviv University.

His appointment is subject to the approval of the Supervisor of Banks.

The Board of Directors of Bank Hapoalim, the Chairman of the Bank and the CEO of the Bank thanked Golan Sherman and Tzachi Cohen for their significant contribution to the success of the Bank and wished Itamar Forman great success in his new position.

Golan Sherman (Photo: Sivan Poppy)

Reuven Krupik, Chairman of the Bank's Board of Directors: “Adjusting the organizational and functional structure of the Bank's management is an optimal response both to the changes required by personal decisions of managers, and to the business and structural patterns that are emerging in today's markets.

The current move is a continuation of the trend of business efficiency and service improvement that began with the establishment of the Banking Services Division, which we announced a long time ago.

The Bank's Board of Directors expresses its great appreciation and special thanks to Tzachi Cohen and Golan Sherman, for their quality and many achievements over many years in the Bank's service, and wishes them all possible success in their future initiatives. "

Dov Kotler, CEO of the Bank: "Golan Sherman and Tzachi Cohen have made a significant contribution to the Bank's achievements in recent years and in realizing its goals, which include business growth in traditional banking and the development of renewable banking in a competitive environment.

Golan has a record of extensive work and a deep and multi-channel acquaintance with both the traditional and technological banking world.

These capabilities have led the Strategy Innovation Division to significant achievements.

The business division, led by Tzachi, contributed to the development of the economy and infrastructure in Israel.

The achievements of the business division under his management have been achieved largely thanks to his unique skills and personal and interpersonal abilities to lead complex moves, while adapting the banking world to the changing reality and market requirements.

The challenge in this area is particularly high because customers in the business sector have many substitutes for bank credit on the market.

I am sure that their work and contribution to the bank will bear fruit in the years to come.

On behalf of the management of Bank Hapoalim, I wish them both great success in their future endeavors. "

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