Central Bank Search Committee Finally Impaneled

The process took months: Everyone wanted to be chosen, not to choose.

It took long months to fill all the positions on the three-person committee, but yesterday, finally, the arduous task was completed. Finance Minister Yuval Steinitz named former government employee Moti Friedman and economist Tali Regev to represent the public on the committee whose mission is to find good people for two new Bank of Israel entities, the administrative council and the monetary advisory council.

Yehuda Winograd Tomer Appelbaum
Tomer Appelbaum

Staffing the search committee was difficult, partly because of the rigorous requirements regarding qualifications and conflict of interest, but also because potential candidates, as they explicitly said when approached, didn't want to be among the seekers: They wanted to be chosen for the jobs.

More than three months have passed since Attorney General Yehuda Weinstein ruled that the search committee would be chaired by retired judge Eliyahu Winograd. With the selection of Friedman and Regev, the "Winograd panel" is complete.

The appointments of Regev and Friedman are contingent on cabinet approval. A month ago the cabinet approved the guidelines for the search committee's work.

Officials at the central bank and at the Finance Ministry hope that after the long delay in the committee's creation it will do its job speedily.

Friedman was chairman of the Israel Electric Corporation until six months ago. Prior to that he chaired Deloitte-Brightman-Almagor. Regev earned her Ph.D. in economics from the Massachusetts Institute of Technology and worked at the San Francisco Federal Reserve Bank. She teaches at the Eitan Berglas School of Economics in Tel Aviv University.

Under the new Bank of Israel Law, a monetary committee will be established to handle economic matters, while an administrative committee will handle bureaucratic matters.