Rani Zim (pixabay photo, Meir Edri, Flash 90)
Rani Zim appoints new CEO of Valio Capital and chief business officer of Psagot. Zim refers to the latest appointment as a broad strategic move aimed at turning the public Valio Capital One into a financial player and returning Psagot to the leading position it had only a few years ago.
Zim announced the appointment of Yaniv Bender to the position of CEO of Valio Capital One, in addition to the position of Chief Business Officer of Psagot Investment House. The deal to purchase Psagot Investment House for more than NIS 400 million.
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Rani Zim, Chairman of Valio Capital One, stated: “We are continuing the process of structural change in the financial activities of the Rani Zim Group, which is currently concentrated in the public company Valio Capital One. Yaniv Bender closely followed the company’s business development plan, which included the acquisition of a number of companies and activities in the areas of fintech and credit, and of course the significant transaction for the acquisition of the activities of Psagot Investment House.
“This is a huge business potential, and Valuable, which started out as a non-bank credit company, is in the process of becoming a diverse financial group, providing its customers with a wide range of services. To this end, we are now formulating the company’s new business strategy. “A dominant leader in the financial market in Israel. I believe that Yaniv is the right man to lead and realize this vision. At the same time, we will continue to build the appropriate management backbone for the group, with the help of Yahel Ben Sira, who will serve as Deputy CEO.”
Bender intends to embark on a series of significant moves to build Valio’s position as a leading player in the worlds of investment, credit and finance. Already today, the Group enables it to receive diverse investment and brokerage services through Psagot, as well as receiving solutions and services in the areas of credit, electronic payments, guarantees and mortgages from all Valio Capital companies. Valio intends to continue to work to expand its areas of activity in the aforesaid worlds, and at the same time to expand Psagot’s activities abroad.
The move aimed at synergy between Valio’s companies is a particularly complex challenge. Valio Capital One, whose control was acquired by ZIM in 2020, initially engaged in the field of non-bank credit.
Since the acquisition of Zim by the company, the company has expanded its business, investing in a number of activities in the fields of credit and finance, including: PrePay, a company that deals with e-wallets, Applichek, which operates in the field of credit and smart payments, and the Obli platform used to provide digital guarantees. , As well as an affordable home company operating in the field of reverse mortgages.
The largest transaction made by Valio last year was the acquisition of the activities of Psagot Investment House, which includes asset management totaling NIS 70 billion. This transaction included the activities of the management of the company’s mutual funds and the activities of the brokerage and hedge funds, which are concentrated in Psagot Securities.
Yaniv Bender will continue to serve as Yahel Ben Sira, in the position of Deputy CEO. The investments, in accordance with the business strategy that will be formulated in the near future.
It should be noted that following the acquisition of Psagot, the Rani Zim Group recently announced a number of additional appointments at the investment house, which are intended to strengthen the company’s managerial avenue for expanding Psagot’s business into new areas and strengthening its position as a leading player in the Israeli capital market. Among other things, Uzi Danino (former CEO of Excellence Investment House) was appointed chairman of Psagot Securities, Elior Salem (former vice president of Mor Magena, from Moore Investment House) to the position of Deputy CEO of Psagot Securities, Micha Goldberg (former head of the research departments at Merrill Lynch and Excellence) has been appointed head of the research department at Psagot Securities, and Oren Levy (former client manager at Ibi’i) has been appointed VP of sales at Psagot Securities.
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