September 15, 2019 / 7:46 AM / a month ago

Israel's Bank Hapoalim gets regulatory clearance for new CEO Kotler

JERUSALEM, Sept 15 (Reuters) - Bank Hapoalim, Israel’s largest lender, said on Sunday the country’s banking regulator had approved the appointment of Dov Kotler as its new chief executive.

Kotler in July was named to the post after serving as CEO of Hapoalim’s former credit card business Isracard between 2009 and 2015. He most recently has been chairman of real estate investment firm iintoo, will begin his new job on Oct 1.

Kotler will replace Arik Pinto, who in April said he would step down when his term is up this year after 40 years at Hapoalim, including the last four when he served as CEO.

He will enter at a time when the bank is embroiled in a U.S. tax evasion investigation. The bank has already set aside some $611 million to cover a possible settlement with U.S. authorities. (Reporting by Steven Scheer)

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