JERUSALEM, March 20 The Tel Aviv Stock
Exchange's (TASE) board on Thursday approved the nomination of
Amnon Neubach as the Israeli bourse's new chairman after a
Neubach replaces long-time chairman Saul Bronfeld, who
resigned last July amid a clash with the head of Israel's
securities regulator, Shmuel Hauser, over the best way to revive
trading volume on the TASE.
"I am convinced that together we will address the challenges
facing Israel's capital market at this time and will usher TASE
into a new era," Neubach said in a statement.
Neubach has been on the boards and served as chairman of
several public and industrial companies, including Bezeq Israel
Telecom and Bezeq mobile phone unit Pelephone. In
these positions Neubach dealt with formulating and implementing
major changes in business strategy, the TASE said.
He also served as Israel's economic attache in Washington
for five years and was responsible for securing guarantees for
the absorption of immigrants from the former Soviet Union.
Neubach served as economic consultant to former prime minister,
and current president Shimon Peres during the 1980s and was
involved in implementing the 1985 economic stability program.
Bronfeld had resigned a week after TASE Chief Executive
Ester Levanon said she would step down at the end of 2013,
expressing disappointment that the TASE's board did not support
her plans to increase trading volume.
Late in 2013, Yossi Beinart was named to replace Levanon. He
had been the president and CEO of the North American Derivatives
Hauser, who had said that Bronfeld failed in his job,
expressed confidence that Neubach and Beinart will lead the
capital markets into a new era.
(Reporting by Steven Scheer)