Address: 7 Jabotinsky St., Ramat Gan 52520
Education: B.A., Tel Aviv University; The Hebrew University, Jerusalem; Harvard Business School, Harvard University – Boston.
Current Positions: Chairman of the Board – Mizrahi Tefahot Bank Ltd., Magal Systems; Director – Shlomo SIXT Group Holdings, Elul Tamarynd.
Past Positions: President & CEO, Cellcom Israel Ltd. (95-00); Head of Israel Security Agency (88-95).
Public Positions: Chairman, the Israel Film Foundation; Chairman of the Board of Trustees, Tel Aviv-Yaffo Academic College; Chairman of the Friends of Sheba Hospital; Chairman, the Public Committee for Soldiers Serving in the Military Reserves; President, Authority for Industrial Cooperation; Member of the Management, the Israel Philharmonic Orchestra Fund.
Line of Business:
A Commercial Bank, Providing an Extensive Range of Banking Services, Mortgage Leader
Mizrahi Tefahot hybrid banking is providing customers with a unique service package, combining the branch team together with a dedicated “Personal Banker”.
izrahi-Tefahot Bank is one of Israel’s largest banks. The Bank offers its private and commercial banking customers in Israel and around the world an extensive range of financial products and services at the highest professional level. The combination between commercial and mortgages activities, provided by “Tefahot”, Israel’s No. 1 mortgage brand enables the Bank’s customers to benefit from attractive mortgages, a wide range of financial products and services and the affinity between them.
The Mizrahi Tefahot Group operates some 166 branches and business centers in Israel and around the world, through which it offers its customers a broad spectrum of banking products and financial services that provide a comprehensive range of solutions to its customers’ changing needs and special characteristics. In addition to the branch operations, the Bank offers sophisticated and advanced direct banking services via the internet, telephone, or cell phone. Standard & Poor’s Maalot, The Israel Credit Rating Company, has rated the Bank’s obligations at AA+. In 2011 Mizrahi Tefahot was selected by Global Finance Magazine as one of the World’s Best Banks for the third consecutive year. The Bank was also selected as one of the World’s Best Sub-Custodian Banks in 2009 and 2010.
These were in addition to having been awarded the Bank of the Year in 2009 by the prestigious “Banker” magazine.
Eli Yones serves as CEO and Jacob Perry serves as Chairman of the Board of Directors.
Mizrahi Tefahot provides “comprehensive service” at the highest level to the household and private customer sector, offering a range of unique products and services, enabling them to manage their financial affairs simply and cost-effectively. These services include advanced account management services with attractive commission rates, credit facilities at advantageous interest rates, various mortgages, and loans for any purpose, and a variety of rewarding investment options. The Bank provides high net worth individuals with personal and professional services, which are tailored to meet their own particular requirements.
Mizrahi Tefahot “Hybrid Banking”
Mizrahi Tefahot is characterized by its unique products and services that provide added value to clients. Recently the Bank launched the “Hybrid” banking revolution, a new and unique concept that offers the ultimate combination between services offered by personal bankers and digital banking. Only customers of Mizrahi-Tefahot can directly contact their personal banker, using a variety of channels, with maximum availability, during extensive working hours from anywhere in the world.
Mizrahi-Tefahot is the No. 1 mortgage lender in Israel, through “Tefahot” the largest and leading mortgage brand in Israel, with a market share encompassing one third of the domestic market. The combination between commercial-retail activities and mortgage activities creates a “positive link” between checking accounts and mortgage loans, enabling clients of the Bank to utilize unique products and services, that are a direct result of the link between these two activities.
Control of Bank Yahav
The Mizrahi-Tefahot Group includes Bank Yahav, in which the Bank has a 50% holding. Bank Yahav was, for many years, a niche bank serving government and public sector employees. The Bank now offers banking services to all retail clients. As part of the cooperation within the group, we have opened mortgage representatives of “Tefahot” in the main branches of Bank Yahav.
Corporate Banking and Trading Rooms
Mizrahi-Tefahot provides a wide range of products and services to the corporate sector. The Corporate Division and the Regional Business Centers throughout the country, offer corporate and business customers personal and professional services, tailored to each corporation or business’ needs according to size and nature. Mizrahi Tefahot operates a sophisticated and advanced trading room and offers its private and business customers a wide range of foreign currency, financial instruments and capital markets operations, activities where the bank has a market share much larger than its relative size.
The Bank has subsidiaries in Switzerland and the Netherlands, and branches and representative offices in UK, USA, Germany, Mexico, Uruguay, and Panama. Mizrahi-Tefahot is the first Israeli bank to link its Israeli and global foreign trading rooms into one synchronized floor.
Investment and Pension Advisory Services
The professional investment advisors of Mizrahi-Tefahot provide personal advisory services to suit the customers specific needs. In addition, the Bank provides objective advanced pension advisory services to both self-employed and salaried employees.
Labor Agreement Ensuring Industrial Quiet Until 2015
Mizrahi-Tefahot enjoys good labor relations and internal work environment, thus enabling full focus on the business plan of the Bank. Management and the employees representatives have signed a labor agreement ensuring industrial quiet until the end of 2015. The agreement also includes a voluntary retirement plan for 200 employees, enabling the Bank to continue to improve efficiencies regarding the size and quality of the work force.
As a community orientated business, Mizrahi-Tefahot is deeply committed to contributing to the community. The Bank has taken a strategic decision to shift from a policy of donations to active social involvement. Currently, the majority of the Bank’s branches and head office units actively cooperate with associations and organizations that work with children having special needs.
Mizrahi Bank Ltd. (today Mizrahi Tefahot Bank Ltd.) was established in 1923 by the World Mizrahi Movement. In 1963, the Bank went public and its shares began trading on the Tel Aviv Stock Exchange. In 1995, a privatization process began, under which the Wertheim and Ofer Groups bought 26.0% of the shares. In 1997, the Groups increased their holding in the Bank. As of December 2011, the two groups held 48% of the Bank’s shares, with the remainder of the shares being held by the public.