Skip To Content
JEWISH. INDEPENDENT. NONPROFIT.
Breaking News

Old Governor of Bank of Israel To Return to Post

The next governor of the Bank of Israel will be an old governor of the Israeli central bank – none other than Jacob A. Frenkel, Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid announced on Sunday.

Frenkel last led the Israeli central bank from 1991 to the year 2000. He has spent the last several years, from December 2009, as chairman of the JPMorgan Chase Bank, an international banking body headquartered in New York.

“I think is the appointment is a surprise on the upside,” Rafael Gozlan, chief economist at Tel Aviv-based IBI Investment House, told Haaretz. “The markets will like it, based on Frenkel’s status in the world and his experience and familiarity with the Israeli economic scene. I view the appointment as a direct continuation of Fischer’s policy.”

In between Frenkel and Frenkel, the Bank of Israel was led by the highly respected economics professor and banker Stanley Fischer, who announced his resignation this January, two years before his second term was due to end.

Fischer recently acceded to Prime Minister Benjamin Netanyahu’s request that he extend his term through the end of June. However, that date was coming on like a freight train, requiring Netanyahu to make a rapid decision.

Read more at Haaretz.com.

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse..

Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.

—  Rachel Fishman Feddersen, Publisher and CEO

Join our mission to tell the Jewish story fully and fairly.

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.