Deputy BoI Governor Karnit Flug resigns

Flug wished Leo Leiderman success, and said that she would leave the Bank of Israel a month after he takes up his post, in order to help him get oriented.

Deputy Governor of the Bank of Israel Karnit Flug resigned yesterday, following the appointment of Leo Leiderman as governor. Flug has served at the Bank of Israel for 25 years, and has been acting governor since the departure of Stanley Fischer at the end of June.

Flug wished Leiderman success, and said that she would leave the Bank of Israel a month after Leiderman takes up his post, in order to help him get oriented.

Although Flug had been mentioned as a possible successor to Fischer, who appointed her to the post of deputy governor, market sources said that Prime Minister Benjamin Netanyahu strongly opposed it because he felt that she was unsuited for the job. Both Fischer and Minister of Finance Yair Lapid had said that Flug was their preferred candidate.

Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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