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Andrew Abir appointed Director of the Market Operations Department at the Bank of Israel

By Bank of IsraelJul 18, 2011 02:57AM ET
 
The Governor of the Bank of Israel, Prof. Stanley Fischer, has announced the appointment of Andrew Abir as Director of the Market Operations Department at the Bank of Israel. The Governor had set up an appointments committee for the role, chaired by Prof. Zvi Eckstein, who was then the Deputy Governor. The other committee members were Dr. Edward Offenbacher, the Head of the Monetary and Finance Division in the Research Department and member of Bank management, and Ms. Esther Dominissini, the Director General of the National Insurance Institute. In the course of the appointment procedure, the Governor forwarded the names of two candidates to the appointments committee, and after consulting with members of the committee, the Governor decided to appoint Mr. Abir to the position.
 
Andrew Abir will replace Barry Topf, who was named by the Governor as Senior Advisor to the Governor on monetary policy issues. Topf was also named to the Monetary Committee.
 
Andrew Abir, 49, has a BA degree in Economics and Politics from Oxford University, and an MBA from Hebrew University. Abir began his career at the Bank of Israel in 1987, and has filled various roles, primarily in foreign currency reserves management and exchange rate policy. In the course of his roles he served as a member of the Investments Committee of the Foreign Currency Department, was responsible for the fixed income portfolio of foreign currency reserves at the Bank of Israel, and headed an intra-ministerial committee to deal with market solutions for crisis. Additionally, he was an advisor to other central banks on behalf of the IMF in the field of exchange rate policy and reserve management. Between 2003 and 2008, he managed the Bank's dealing room. Since 2008, he has served as Deputy Director of the department, and the Head of the Financial Division in the Market Operations Department, responsible for back and middle office operations.
 
The Governor of the Bank of Israel cited Abir's important contribution to the way in which the Bank of Israel Market Operations Department operated during the crisis, and to the restructuring of the department, in which parts of the Monetary Department were merged into the Foreign Currency Department and many roles and responsibilities were added to it, which it carried out successfully. He wished Andrew Abir success in his new role, and expressed his confidence that the Market Operations Department under his leadership will successfully meet the many challenges it faces in the future.
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