Jacob Frenkel - the Israeli Economy's New Foreign Minister

Israel's new central bank chief is a great schmoozer abroad, though in recent years he hasn't been doing thorough economic research and hasn't been managing major operations.

Bottom line? The reason Prime Minister Benjamin Netanyahu chose Jacob Frenkel for a return engagement as governor of the Bank of Israel, even if he had to push him into the job, was Frenkel's contacts. He was picked because he has entrée to everyone on the international economic scene – and everyone is ready to hear him out.