Asaf Elder to be appointed CEO of Bituah Yashir

In depth

Asaf Elder, deputy CEO and head of the banking division at Discount, will be appointed CEO of Bituah Yashir. He will replace Kobi Hever, who is retiring after eight years. Elder announced his departure from the bank after 16 years there.

Elder joined Discount in 2010 and was appointed to the board of management in 2019. He served, among other roles, as CEO of Discount Leasing and as head of the operations and assets division. In his most recent position, he led the bank's digital, marketing and artificial intelligence implementation areas.

The outgoing CEO, Kobi Hever, leaves behind a company that doubled its annual profit to about NIS 400 million. Elder's departure joins a string of retirements of senior figures from the banks in recent weeks, against the backdrop of upheaval in the sector and preparations for growing competition from new digital players.