PRESS RELEASE
BANK LEUMI (UK) PLC
BANK LEUMI (UK) ANNOUNCES
THE APPOINTMENT OF A NEW MD & CEO
London,
17th December 2008
Bank Leumi (UK) is pleased to announce the appointment of Mr Lawrence M Weiss as its new Managing Director & CEO.
Mr Weiss joins the Bank after 18 years in senior positions in Glencore, one of the world’s largest suppliers of a wide range of commodities and raw materials to industrial consumers. Amongst his positions, Mr Weiss was a director in Glencore Commodities Limited, the FSA authorised and regulated energy derivatives arm of Glencore.
The new CEO brings to the role his highly specialised knowledge in the areas of risk management, secured lending, trade and commodity finance coupled with substantial banking experience from previous managerial positions at The Chase Manhattan Bank.
Mr Weiss also has considerable experience dealing with Israeli companies and was a board member of the Israeli holding company, Granite Hacarmel.
Mr Weiss is an American who has lived in the UK for the past 26 years.
Upon assuming his new position, Mr Weiss said that he is “delighted to join Bank Leumi (UK) and to work with an excellent group of professionals in taking the Bank forward in its core areas of expertise: property finance, trade finance, commodity finance, asset based lending and private banking”.
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Note to Editors
Bank Leumi (UK) provides financial services to UK and International clients through its Head Office in London, Northern branch based in Manchester, Offshore Banking and Trust subsidiaries in Jersey, and its Factoring and Invoice Discounting subsidiary in Brighton.
The Bank’s main areas of activity include trade finance, with a particular expertise in financing cross border trading, commodity finance, financing trade with Israel;commercial and residential property finance in the UK.
The Bank also specialises in UK and International Private Banking and Wealth Management. Private Banking Relationship Managers offer advisory investment management services as well as an extensive choice of deposits and investment accounts including structured products. Working closely with the Bank’s Treasury Department, services such as foreign exchange, money market and derivatives for hedging purposes are also provided.
Through its Brighton-based subsidiary, Leumi ABL Ltd, clients have access to a full range of asset-based lending products. These products - including Factoring & Invoice Discounting; Stock and Plant & Machinery Finance and Bad Debt Protection - are designed to provide complete working capital solutions. When combined with Trade Finance and Property Finance available through the Bank itself a complete funding package can be tailored to suit client's needs.
Bank Leumi (UK) is a subsidiary of the Bank Leumi le-Israel Group which has assets in excess of $60 billion. The group has a dominant share of the domestic Israeli banking market and the largest overseas network of any Israeli bank, with more than 50 offices in 20 countries around the world.
Bank Leumi (UK) continues its policy of “Relationship Banking” aiming to provide all of its customers with the highest quality service.
For further information, please contact:
Moshe Langerman mlangerman@bankleumi.co.uk
020 7907 8031 www.bankleumi.co.uk
