Bank Leumi Le Israel BM : Leumi CEO Announces Changes in the Bank's Executive Management

December 26, 2016

Russak Aminoach: 'Leumi's excellent management team, headed by the new Senior Management, ensures the continued realization of Leumi's ambitious strategy - leading proactive and innovative banking for our customers'

Leumi President & CEO, Rakefet Russak Aminoach, declared organizational changes and new appointments in the Senior Management of the Bank today. This strategic step includes merging divisions of the Bank, the promotion of executives within the bank to Senior Management, and a rotation of positions within the Senior Management.

The move is intended to enable the realization of Leumi's ambitious strategy and the achievement of its business targets against the backdrop of competitive and regulatory challenges in the business environment within which the Bank operates.

As part of the changes in the Senior Management:

• The International Credit and Real Estate Division, headed by Yoel Mintz, will be integrated into the Corporate & Commercial Division, under the management of Kobi Haber. Merging the divisions is designed to enhance synergy in the Bank's corporate and commercial credit activity for all sectors of the economy. Yoel Mintz gave notice of his intention to retire from the Bank after 38 years of service. After retiring, Mintz will continue to serve as Chairman of the subsidiaries Bank Leumi UK and Bank Leumi Romania. Shmulik Arbel, who currently serves as Head of the Commercial Department in the merged division, will be appointed a member of Senior Management.
  
• Hilla Eran-Zick, Head of the Bank's Risk Management Division, will be appointed as Head of the Human Resources Division in place of Michal Dana, who has announced her wish to resign from the position for personal reasons.
  
• Bosmat Ben-Zvi, Head of the Strategy Department and PA to Leumi's President and CEO, will be appointed a member of Senior Management and Head of the Risk Management Division, taking over the position of Hilla Eran- Zick.
  
• Hanan Friedman, Head of the Legal Division, will be appointed to the position of Head of the new Strategy and Regulation Division and will be responsible for leading a range of major projects of the Bank, including preparations for implementing the 'Strum Bill'.
  
• Guy Fischer will be appointed as acting Head of the Capital Markets Division, replacing Itai Ben-Zeev, until the appointment of a permanent Head of Division
  
• Sasson Mordechay, Head of the Internal Audit Division, has notified the Chairman of the Board of Directors of his wish to retire from the Bank after approximately 33 years of service. He will retire from his post once his successor is appointed.

Russak Aminoach: 'In recent years we have worked hard to adapt Leumi to the ever- changing world and the many challenges facing the financial system, by implementing a series of creative business moves which led to a significant improvement in the results of the Bank's core activities. Leumi's excellent management team, headed by the new Senior Management, ensures the continued realization of Leumi's ambitious strategy - leading proactive and innovative banking for our customers'.