Discount Bank Group's investment and investment banking arm, Discount Capital, appointed Michal Kisus Herzog as its new chief executive on Monday, with her term set to begin in September. The 46-year-old will replace outgoing CEO Hila Himi, who said in February that she would step down after 11 years in the role.
Kisus Herzog arrives from Bank Hapoalim, where she has served since 2021 as CEO of Hapoalim Tech, the bank's technology unit. In that job, she managed the bank's ties and business with venture capital funds and growth companies and helped strengthen the unit's market position. Before that, she was CEO of Pepper, Bank Leumi's digital bank.
She holds a bachelor's degree in law and a bachelor's degree in economics from Tel Aviv University, as well as an MBA from Reichman University. Discount Capital operates across several areas in Israel's capital market, including direct investments in companies, private equity, venture capital funds, and underwriting, distribution and support for public and private offerings through its subsidiary Discount Capital Underwriting.
The investment arm has posted strong growth in recent years and ended fiscal 2025 with net profit of 388 million shekels, up 25% from the same period a year earlier. Kisus Herzog's main challenge will be to maintain that momentum and broaden the existing portfolio in changing market conditions. Himi is leaving after leading the sale of credit card company Cal to Georgy Horsch and Harel Insurance for 3.9 billion shekels. As reported by Calcalist, she plans to found an independent investment fund with Discount as the anchor investor, aiming to raise about $400 million.