Sources inform ''Globes'' that senior Kadima party officials have suggested to Prime Minister Ehud Olmert that he appoint an external minister of finance, should Abraham Hirchson have to resign because of the criminal inquiry against him. Among the names mentioned as possible replacements are outgoing Bank Hapoalim (LSE: BKHD; TASE: POLI) chairman Shlomo Nehama, and former Ministry of Finance Director General and current Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) chairman Aharon Fogel.
The officials claim that "an external minister will restore public confidence in the economic leadership." As far as is known, the two men have been offered the position.
A survey conducted by polling company Maagar Mohot has looked at the popularity of the various candidates for the post of minister of finance. The survey, which was conducted by Prof. Yitzhak Katz reveals that former Minister of Finance and current Likud party chairman Benjamin Netanyahu is the most popular choice with a 27% rating. Next is Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) chairman Eli Hurvitz with 21%, followed by former Minister of Justice and Finance Adv. Yaakov Neeman with 15%, and former Minister of Finance Director General and current Israel Tax Authority acting director Dr. Joseph Bachar with 15%. Nehama received 12% only.
Nehama has been sought after by politicians ever since his retirement from Bank Hapoalim was announced. Olmert and Netanyahu have both asked to meet him to discuss the possibility of his entry into politics. Nehama has already had a number of meetings with political figures and he has not ruled out the offers, although he is an associate of Likud chairman Netanyahu.
Fogel, on the other hand, is the preferred choice of treasury officials and the business sector. He served as director general of the Ministry of Finance from 1993-95 during the government of Yitzhak Rabin, and before that he served as budget director from 1983-87.
Both Nehama and Fogel declined to comment. A spokesperson for the Prime Minister's Bureau said, "The Prime Minister is not looking for a replacement for the minister of finance."
Published by Globes [online], Israel business news - www.globes.co.il - on March 26, 2007
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