Fischer Leading BoI Toward a Structural Revolution

The Bank of Israel last week published an external tender inviting major companies to help change "the organizational structure and work patterns at the bank."

Moti Bassok
Moti Bassok
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Moti Bassok
Moti Bassok

The Bank of Israel last week published an external tender inviting major companies to provide it with consulting services "for changing the organizational structure and work patterns at the bank."

The central bank intends to begin the process shortly.

The bank published the tender, which will close November 17, as part of a structural and human resources revolution that its governor, Stanley Fischer, is leading together with new director-general Yaakov Danon and Avi Idleson, recently appointed head of the administration and personnel department. The plan involves closing departments that have become superfluous to requirement over time (for example, the state loans administration and the foreign exchange activity department), opening new departments, and making flagship changes in departments that continue to operate. The planned changes are in keeping with similar ones that other governmental banks underwent in various countries in recent years.

In wake of the structural change, the central bank will also undergo personnel changes, including hiring new workers from the banking and academic fields. The bank has been closed to outside hirings for years. The changes will also affect the bank's management.

"The bank hasn't undergone a revolution like this in the 51 years of its existence," a senior central bank official told Haaretz over the weekend.

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