Altshuler Shaham-WeSure Deal Raises Questions on Advertising Budgets
Translated & summarized from Globes by baba
The acquisition of Altshuler Shaham Finances by WeSure is causing uncertainty about advertising budget allocations, while Fattal Hotels is expanding in Greece. New appointments have been made at "Yecholot" and AY Solar, and Jerusalem is preparing for new light rail lines.
The story in 5 lines · by baba
- Altshuler Shaham Finances sale to WeSure raises questions about advertising budget shifts.
- Fattal Hotels is expanding its presence in Greece with a new Athens hotel acquisition.
- Jerusalem is set to open more light rail lines, with a Blue Line model on display.
- New leadership appointed for "Yecholot" association and AY Solar company.
- Mortgage volumes in August reached NIS 10.9 billion, indicating a peak year.
The sale of "Altshuler Shaham Finances" to the holding company WeSure is prompting inquiries regarding the allocation of advertising budgets. WeSure currently owns the insurance company Eyalon, which recently entered the provident fund market, and the digital insurance company WeSure. Altshuler Shaham's advertising budget, estimated at NIS 15 million, has been managed for over 15 years by the LEAD Ogilvy advertising agency. Eyalon's budget, estimated at NIS 10 million, is handled by the NO NO NO NO NO YES advertising agency, which recently launched a campaign for the provident fund company. The digital insurance company WeSure is managed by KPLN, but significant changes are less expected for them. Currently, the branding of Altshuler Shaham is not expected to change, and CEO Yair Levinstein will remain. However, potential synergy between Altshuler Shaham Finances and Eyalon could impact advertising strategies, with tens of millions of shekels at stake.
In other news, Fattal Hotels is expanding its operations in Greece by acquiring a second hotel in Athens for 25 million euros. The Leonardo Hotel Athens City Center will feature 117 rooms and suites, a swimming pool, and a bar with panoramic views. The company sees significant growth potential in Greece and plans further expansion in the Mediterranean region, including Cyprus, Montenegro, Croatia, and Albania.
Additionally, the "Yecholot" association, focused on reducing educational gaps in peripheral schools, has established a new public council led by Dr. Yehuda Mimran. Merav Yitzhaki has been appointed CEO of AY Solar, a company specializing in solar energy solutions, which is controlled by Blade Ranger.
Jerusalem is preparing for the opening of the Green Line of the light rail in the coming months, following the recent launch of the Yellow Line. A model of a Blue Line train car is on display near City Hall for public viewing. The Blue Line, expected to open in early 2030, will include three operational lines, 46 stations, and serve approximately 250,000 passengers.
In August, NIS 10.9 billion in mortgages were taken out, marking 2026 as a peak year for mortgage volumes.
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