The Director of the Bank of Israel Research Department, Prof. Nathan Sussman, notified the Governor of the Bank of Israel of his intention to step down from his position prior to the beginning of the upcoming academic year, following six years in the position. The Governor has set up a search committee to recommend a new Director for the Research Department, headed by the Deputy Governor, Dr. Nadine Baudot-Trajtenberg. The other members of the committee are Andrew Abir, Director of the Market Operations Department, Pnina Keren, Director of the Human Resources and Administration Department, and Prof. Rafi Melnick of IDC Herzliya, a former member of the Bank of Israel Monetary Committee.


During his tenure, Prof. Sussman emphasized improving the quality of research at the Bank of Israel and deepening it while improving and maintaining the professional level of the research and conducting relevant studies that would support policy recommendations in the rapidly changing economic reality in the State of Israel. Under Prof. Sussman’s leadership, an organizational change was made in the structure of the Research Department, including the establishment of a Financial Division and the entrenchment of collaborative efforts between the Research Department and the other economic departments at the Bank of Israel. In addition, Prof. Sussman promoted and enhanced the Bank of Israel’s working relationships with other central banks around the world.


In addition to serving as a member of the Bank of Israel Monetary Committee, Prof. Sussman was a member of several joint committees and working teams, including the Debt Restructuring Committee, the Committee to Increase Competition in Banking and Financial Services, the Committee to Prevent Concentration, the Committee to Determine the Retirement Age for Women, and more.


 and with the Bank management, and I am thankful for the trust placed in me both within the Bank of Israel and beyond it.”


Bank of Israel Governor Dr. Karnit Flug said, “I would like to thank Nathan for his years of service to the Bank of Israel. His wide knowledge in broad areas of economics, his special insights as an economic historian, his straightforward view, and of no less importance, his pleasant demeanor, were assets to the Bank of Israel, to research, to decision-making, and to the quality of economic counsel to the government. I wish Nathan success, and I hope that even upon his return to academia, he will still find a way to continue benefiting the Israeli economy and public with his knowledge and his tremendous experience.