March 3, 2020 / 11:38 AM / a month ago

Bank of Israel names industry veteran Avidan as new banking regulator

TEL AVIV, March 3 (Reuters) - The Bank of Israel on Tuesday named Yair Avidan as the new supervisor of banks and said he will replace outgoing regulator Hedva Ber on April 16.

Avidan has worked in the Israeli banking system for over 30 years including six years as chief risk officer at Israel Discount Bank. Last March he resigned from management positions and began to serve as a director on a number of boards.

The central bank announced in December that Ber would step down in April when her five-year term ends.

During her tenure, Ber helped to implement a number of changes in the banking system including promoting competition through a law that separated credit card companies from banks, easing regulatory requirements for new banks and working to strengthen mid-sized banks. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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