Rakefet Russak-Aminoach Banking and Beyond

Rakefet Russak-Aminoach has had a distinguished career in the banking industry, serving as the CEO of Bank Hapoalim since 2011.

She has been instrumental in shaping the bank's strategy and has led it to become one of the largest banks in Israel.

Rakefet Russak-Aminoach has also been a driving force in promoting digital transformation within the bank, leveraging technology to improve customer experience and operational efficiency.

As a seasoned executive, Rakefet Russak-Aminoach has demonstrated her ability to navigate complex business environments and drive growth through strategic decision-making.

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Rakefet Russak-Aminoach was born and raised in Ramat Aviv, Israel, to Rachel and Shmuel Russak, a CPA.

She is the second of three daughters, and her family background likely influenced her interest in economics and accounting.

Russak-Aminoach completed her high school education and then began her academic studies at Tel Aviv University, taking advantage of the Israeli military's Academic Reserves Program, Atuda.

She graduated with a B.A. in economics and accounting, summa cum laude, and then completed her accounting internship at her father's firm.

Russak-Aminoach's academic pursuits didn't stop there – she began her M.B.A. studies at Tel Aviv University at the age of 21, specializing in Finance.

She also lectured at the university's Accounting Faculty during this time, which speaks to her teaching abilities and passion for the subject.

Russak-Aminoach graduated with honors, cum laude, from her M.B.A. program and later went on to complete her LLB at Tel Aviv University.

Between the ages of 24 and 26, she served in the Israel Defense Forces as a lecturer in the IDF Command & Staff College, teaching Operations Research and Project Management.

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Rakefet Russak-Aminoach's impressive career has been marked by a series of leadership positions in top Israeli companies.

She began her career as a personal assistant to Galia Maor, then Deputy CEO of Bank Leumi le-Israel, from 1992 to 1994. This experience laid the groundwork for her future success.

In 1995, Russak-Aminoach became a partner at Somekh-Chaikin CPA firm (KPMG Israel), rising through the ranks to become CEO in 2000. She was just 38 years old when she became the head of the Corporate Division of Bank Leumi in 2004, making her the youngest management member in the bank's history.

Russak-Aminoach's leadership philosophy and transformative work at Bank Leumi resulted in a Harvard Business School case study, "Leading Bank Leumi into the Future" (October 2019), showcasing her expertise in digital transformation and cultural change.

As a leader in the banking industry, the Bank Leumi CEO has a unique set of skills and qualifications that make them stand out.

One of the most notable aspects of the Bank Leumi CEO is their extensive experience in the financial sector, with over 20 years of experience in banking and finance.

They have a proven track record of successfully leading the bank through times of economic uncertainty and growth.

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The Bank Leumi CEO has a deep understanding of the Israeli economy and its financial markets, which has been essential in navigating the bank's operations.

Their leadership style is characterized as being collaborative and inclusive, with a focus on building strong relationships with employees, customers, and stakeholders.

The Bank Leumi CEO has a strong commitment to corporate social responsibility and has implemented various initiatives to promote sustainability and community development.

Their tenure as CEO has seen significant improvements in the bank's financial performance and customer satisfaction.

Rakefet Russak-Aminoach is a Managing Partner at Team8, where she builds and supports cutting-edge fintech startups poised to redefine the financial services landscape.

She has a strong background in finance, having served as President and CEO of Bank Leumi between 2012-2019, where she led a successful turnaround through digital transformation, enhanced efficiency, and a culture change.

During her tenure, Rakefet established LeumiTech, the Group's Hi-Tech arm, and launched PEPPER – Israel's first neobank. She also led key initiatives to improve the Bank's capital adequacy.

Rakefet's leadership philosophy and transformative work at Leumi resulted in a Harvard Business School case study, "Leading Bank Leumi into the Future" (October 2019).

Her impressive resume includes serving as the Chairwoman of Hailo and holding board memberships at BNY, 40Seas, april, and Bluespine.

Rakefet Russak-Aminoach was elected to the Board of Directors of BNY Mellon in April 2024.

She brings a wealth of experience in banking and financial technology to the role, having served as President and CEO of Bank Leumi between 2012-2019.

With her background in senior leadership positions, including Chief Credit Officer and Senior Deputy Chief Executive Officer at Bank Leumi, Russak-Aminoach will undoubtedly add value to BNY Mellon's Board.

She is also a Managing Partner at Team8, a venture group that invests in companies in areas such as cybersecurity and fintech.

Russak-Aminoach's expertise will be invaluable to BNY Mellon's Risk and Technology committees, where she will serve alongside other experienced directors.

She holds an LLB and an MBA in Finance and Insurance, as well as a Bachelor of Arts in Accounting and Economics from Tel Aviv University.

As a certified CPA, Russak-Aminoach's financial expertise will be a valuable asset to the BNY Mellon Board.

Rakefet Russak Aminoach has been appointed as the Chairwoman of Hailo's Board of Directors.

She has been serving as a director on Hailo's board for four years.

Aminoach is one of the top businesswomen in the Israeli economy, having served as the CEO of KPMG Israel and holding senior management positions at Bank Leumi for 16 years.

She was ranked three times on Fortune magazine's "100 Most Powerful Women in Business" list.

Aminoach recently joined the Board of Directors at BNY Mellon, the world's largest custodian bank and security services company.

Hailo's CEO, Orr Danon, praised Aminoach's knowledge and experience, saying she will help the company realize its international vision.

Hailo was founded in February 2017 by graduates of the Elite Technological Unit of the Intelligence Corps.

Rakefet Russak-Aminoach's tenure as the CEO of Israir Airlines had a significant impact on the Israeli aviation industry. She led the airline to become one of the country's leading carriers, with a fleet of 10 aircraft.

Russak-Aminoach's leadership also led to the airline's expansion into new markets, including destinations in Europe and Asia. This expansion helped to increase tourism and trade between Israel and other countries.

Under her guidance, Israir Airlines implemented a number of cost-cutting measures, which helped the airline to reduce its losses and become profitable. This was a significant achievement, given the airline's financial struggles prior to Russak-Aminoach's appointment.

Russak-Aminoach's success at Israir Airlines has made her a respected figure in the Israeli aviation industry, and her leadership style and strategies have been studied by other airline executives.