Returning to the Post: Jacob A. Frenkel, who served as the governor of the Bank of Israel will return to the post. Image by Haaretz

The next governor of the Bank of Israel will be an old governor of the Israeli central bank – none other than Jacob A. Frenkel, Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid announced on Sunday.

Frenkel last led the Israeli central bank from 1991 to the year 2000. He has spent the last several years, from December 2009, as chairman of the JPMorgan Chase Bank, an international banking body headquartered in New York.

“I think is the appointment is a surprise on the upside,” Rafael Gozlan, chief economist at Tel Aviv-based IBI Investment House, told Haaretz. “The markets will like it, based on Frenkel’s status in the world and his experience and familiarity with the Israeli economic scene. I view the appointment as a direct continuation of Fischer’s policy.”

Forwarding the News

Thoughtful, balanced reporting from the Forward and around the web, bringing you updated news and analysis each day.

Terms(Required)

I agree to the Forward's Terms of Service and Privacy Policy

Email(Required)

In between Frenkel and Frenkel, the Bank of Israel was led by the highly respected economics professor and banker Stanley Fischer, who announced his resignation this January, two years before his second term was due to end.

Fischer recently acceded to Prime Minister Benjamin Netanyahu’s request that he extend his term through the end of June. However, that date was coming on like a freight train, requiring Netanyahu to make a rapid decision.

Read more at Haaretz.com.

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

The coming year promises to be filled with more complex and historic developments. We are entering an era where independent, fact-based Jewish journalism will be more important than ever. We need to be ready for whatever 2025 will bring, and with your help, we can be.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

—  Rachel Fishman Feddersen, Publisher and CEO

With your support, we’ll be ready for whatever 2025 brings.

$36 $500

$120 $180 Other amount