Bank Leumi USA President and CEO, Uzi Rosen, Announces Retirement; Itzhak Eyal Named as Replacement

Oct 07, 2010, 11:36 ET from Bank Leumi USA

NEW YORK, Oct. 7 /PRNewswire/ -- Bank Leumi USA ("BLUSA") today announced the retirement of president and chief executive officer, Uzi Rosen.  Mr. Rosen has been with the Leumi Group for 28 years, the last 6 of which were spent at the helm of BLUSA.  Itzhak Eyal, with the Leumi Group for 35 years, and most recently chief executive officer of Arab Israel Bank in Israel, has been appointed as the new president and chief executive officer of BLUSA.

Uzi Rosen has successfully led BLUSA through a challenging economic environment, especially in the past 3 years.  Throughout his six year tenure, BLUSA returned a profit each year, improved its capital and leverage ratios and maintained a strong balance sheet.  In addition, BLUSA's commercial lending grew to its highest levels and is poised for even more managed growth in the future.

Mr. Rosen initiated the construction of a "state-of-the-art", private banking center in Aventura, Florida and consolidated much of BLUSA's international private banking activity there while maintaining its commercial banking office in the same location.

Mr. Rosen started his career with the Leumi Group in 1982, after working in the Israeli government for a number of years, where his last position was Deputy Director of Government Companies Authority.  He quickly rose to regional manager in charge of 22 branches.  Thereafter, he became head of the Commercial Customers' Department within the Banking Division where he was responsible for the credit department.  By 1995 he was the Head of the Construction & Real Estate Division and member of the Executive Management, and in 2001 he was appointed as Managing Director and CEO of Bank Leumi (UK) plc.  

Mr. Eyal is expected to continue the bank's growth into key markets appropriate for its mix of commercial middle market lending and U.S. and international private banking.

Mr. Eyal started his career with the Leumi Group in 1975 as an Internal Auditor.  In 1984 he was assigned as the Manager of the Group's Branch in Montreal.  From 1991 to 1995 he was the Credit Officer for Banque Leumi France.  He then returned to Israel as the Manager of the Ramat Gan Region for five years.  In 1999, Mr. Eyal was appointed as the CEO of Banque Leumi France.  Since 2004, he has been the CEO of Arab Israel Bank.

Bank Leumi USA is an FDIC-insured, full-service commercial bank that provides financial services to middle- and upper-middle market firms, international businesses, and not-for-profit organizations through offices in New York, Illinois, California and Florida.  BLUSA offers U.S. and international private banking services as well as a full range of securities and insurance products through its brokerage subsidiary, Leumi Investment Services Inc.  Bank Leumi USA is the largest subsidiary of the worldwide Leumi Group, founded in 1902.  BLUSA has operated in the U.S. for 57 years.