Changes in Banking Supervision Department management

In the coming weeks, several changes will be made in the Banking Supervision Department’s management. Mr. Hanoch Landau, the Deputy Supervisor of Banks and Head of the On-Site Division, will retire from the Bank of Israel; Mr. Or Sofer, CPA, Deputy Supervisor of Banks and Head of the Policy and Regulation Division, will replace Landau as Head of the On-Site Division; and Mr. Tsuriel Tamam, Deputy Supervisor of Banks and Head of the Off-Site Evaluation Division will step down from his position at the Banking Supervision Department and will move to the role of Head of the Business Sector in the Credit Database national project.
 
Mr. Hanoch Landau, Deputy Supervisor of Banks and in charge of the Banking Supervision Department’s On-Site Division, will step down from his role at the Banking Supervision Department this month, ahead of his retirement from the Bank of Israel. Landau began his career at the Bank in 1972, and held a wide range of positions in the Banking Supervision Department’s Research Unit, in the Off-Site Evaluation Division, and in the On-Site Division. In 2009, he was appointed Deputy Supervisor of Banks and Head of the On-Site Division, and since then he has led the Division’s operations, during the challenging period following the global financial crisis.
 
Dr. Hedva Ber, the Supervisor of Banks, decided to appoint Mr. Or Sofer, CPA, as the Head of the On-Site Division. Since 2009, Mr. Sofer has served as Deputy Supervisor of Banks and Head of the Policy and Regulation Division, and he held a range of positions in the Banking Supervision Department, among them in the On-Site Division, Off-Site Evaluation Division, and Policy and Regulation Division.
 
At the same time, the Supervisor of Banks decided to move the Financial Reporting Unit, headed by Ido Galil, CPA, from the Policy and Regulation Division to the On-Site Division.
 
Mr. Tsuriel Tamam submitted his request to step down from his role as Deputy Supervisor in charge of the Off-Site Evaluation Division, which he has fulfilled since 2011. In parallel, Mr. Tamam will be appointed as Head of the Business Sector in the project to set up a Credit Database, reporting to the Bank of Israel’s Director General. This project is of great importance to Israel’s economy, and will contribute to increasing competition in the financial services sector.
 
Mr. Tamam was responsible for major supervisory processes at the Banking Supervision Department and he led and coordinated the evaluations of the stability and conduct of banking corporations in Israel in recent years. He also successfully advanced the project of implementing Basel II, which contributed markedly to banking corporations’ risk management and capital structures.
 
New heads for the Policy and Regulation Division (to replace Or Sofer) and the Off-Site Division (to replace Tsuriel Tamam) will be chosen in the upcoming period.
 
Dr. Hedva Ber, the Supervisor of Banks, said, “I thank Hanoch for the dedication, responsibility, and professionalism he displayed throughout the years and in all the positions he held in the Banking Supervision Department, and I wish him much enjoyment in the future. I wish Or great success in his new role. I thank Tsuri for his contribution to the Banking Supervision Department over the years, and together with Bank of Israel management, I wish him great success in his new role.
 
“I view these changes as an opportunity for employees and managers to advance, to branch out and refresh their work environment. I am certain that we will choose excellent managers for the positions that became available, who will lead the Banking Supervision Department together with me in the coming years, to achieve the goals of maintaining the stability of the banking system for the benefit of depositors and the economy, while promoting competition and structural changes in the industry.”