IDB Bank®, a New York-based private and commercial bank, today announced that CEO and President Uri Levin will step down from his role to take on the position of CEO of Israel Discount Bank Ltd., IDB’s parent and the fourth largest bank in Israel. The effective date of his appointment will be announced before the end of this year.
“I am honored and privileged to be appointed CEO of Discount Group,” said Levin. “I will return back to Israel to continue the successful transformation the group has led in recent years, taking the great responsibility of leading the group in the face of new challenges and a rapidly changing banking environment, taking it to new heights.”
An executive search will place over the next few months to identify Levin’s replacement. Levin’s successor will play a critical role in guiding IDB’s growth and expansion while providing tailored-made banking solutions for both domestic and international clients.
“We want to thank Uri for his leadership and contributions. During his two-year tenure, IDB delivered a solid performance, reaching a record profit of $96 million and a 10% return on equity in 2018,” said a bank spokesperson.
IDB is amidst executing a five-year strategic plan that will result in bank-wide transformation. Key areas of focus are growth through service expertise, infrastructure improvements, and culture reorientation.