Perry Moves Closer to Mizrahi Top Seat

The supervisor of banks yesterday approved the candidacy of former Cellcom boss Jacob Perry for the post of chairman of United Mizrahi Bank. Perry, if accepted by the board, will replace Idan Ofer, who was forced to leave the post as the banking authority frowns upon shareholders filling the top posts at the bank.

The Ofer and Wertheim families that control Mizrahi bank have reached agreement on Perry's candidacy.

The two families still have unresolved issues including the remuneration of CEO Victor Medina and the future make-up of the board. The Ofer family would like to retain Medina on a four-year $4 million contract. However, the Wertheims do not agree to the conditions. Sources at the bank believe that the agreement on Perry will pave the way for rapid solutions to the outstanding disputes.

Since leaving Cellcom, the cellular phone operator, Perry has taken up, inter alia, the post as chairman of Lipman Electronic Engineering.