Frenkel to Replace Fischer in Return to Bank of Israel
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Jacob Frenkel, chairman of JPMorgan Chase International, will return to a position he left 13 years ago when he succeeds Stanley Fischer as governor of the Bank of Israel.
Frenkel, 70, whose appointment by Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid was announced in a statement today, will take over at a time when the central bank is contending with slowing growth and surging housing prices. His appointment must be ratified by the Cabinet.