Hapoalim’s Leiderman Tapped as Next Bank of Israel Governor

Leo Leiderman, chief economist at Israel’s largest bank, has been nominated as the next Bank of Israel governor, stepping into the breach left by first-choice Jacob Frenkel when he withdrew his candidacy this week.

The appointment was announced today by Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid in a text message, and acting Governor Karnit Flug immediately resigned after being passed over for a second time. Leiderman, a former head of the central bank’s research department, succeeds Stanley Fischer, who stepped down June 30.