Union Bank names Shevi Shemer CEO

Shevi Shemer  photo: Shlomi Yitzhar
Shevi Shemer photo: Shlomi Yitzhar

Shemer, currently The head of the bank's retail division, will replace Israel Trau, who resigned after Union Bank's merger with Mizrahi Tefahot Bank was barred.

Union Bank of Israel (TASE: UNON) head of retail division, client assets, and consulting Shevi Shemer will be appointed the bank's CEO, replacing Israel Trau, who recently announced his resignation. Shemer is currently also serving as the bank's senior deputy general manager.

Trau announced several weeks ago that he was leaving his job, three weeks after the Antitrust Authority struck down the merger between Union Bank and Mizrahi Tefahot Bank (TASE:MZTF). Trau, Union Bank's CEO for four years, is leaving his post as a result of dissatisfaction on the part of Union Bank's controlling shareholders with promotion of the merger.

Union Bank is likely to undergo a major streamlining operation after the merger was ruled out, together with an appeal of the striking down of the merger to the Restrictive Trade Practices Tribunal.

Published by Globes [online], Israel business news - www.globes-online.com - on July 15, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Shevi Shemer  photo: Shlomi Yitzhar
Shevi Shemer photo: Shlomi Yitzhar
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018