Psagot CFO Shlomo Pasha will serve as acting CFO of Israel's largest investment house during the interim. Apax Partners controls Psagot.
Vermus was considered a talented and successful CEO. He took up the post at Psagot four years ago, replacing Gabriella Ravid, who was also forced out as the result of a Securities Authority investigation. During Vermus's tenure, Psagot, owned by York Capital Management LLC during this period, became Israel's largest investment house. Through rapid organic growth, the acquisition of provident funds from Bank Hapoalim (TASE: POLI) and Prisma Investment House, and old pension funds from the Ministry of Finance, Psagot reached NIS 150 billion in assets under management, more than twice as much as Israel's second largest investment house.
You comment was recieved and soon will be published.
Thank you for posting your comment, which will be reviewed for publication.
Load more comments