New Trust Company Launched to Manage Tech Employee Stock Options
Translated & summarized from Globes by baba
Bank Leumi and Aspire investment house have launched a joint trust company to manage stock options and equity compensation for Israeli high-tech employees. Led by Hana Hollander, the venture aims to leverage technology and Bank Leumi's financial strength. This sector has become highly profitable, with IBI Capital, a leading player, reporting significant revenue and profit growth. The need for these services is driven by Israeli tax laws that allow for deferred taxation on employee stock options.
The story in 6 lines · by baba
- Bank Leumi and Aspire investment house have formed a joint trust company to manage tech employee stock options.
- Hana Hollander, a prominent market figure, is co-owning and managing the new venture.
- The trust services sector for high-tech employees has become a major profit center for investment houses.
- IBI Capital, a leading firm, reported substantial revenue and profit growth from its trust services.
- Israeli tax law, Section 102, necessitates trustees for deferred taxation on employee stock options.
- Employee stock options and restricted stock in Israel's tech sector are valued at approximately 150 billion shekels.
A new trust company, a joint venture between Bank Leumi and the recently established Aspire investment house, aims to capitalize on the lucrative market of managing stock options and equity compensation for high-tech employees. Hana Hollander, a prominent figure in Israel's capital market and former CEO of Excellence Investments, is a key player in Aspire, co-owning and managing the new entity. The company will offer services for managing employee stock options and shares, as well as trustee services for mergers and acquisitions.
Bank Leumi will hold a 51% stake in the new company, with Aspire holding 49%. The venture is expected to begin operations by the end of the year, led by lawyer and accountant Vanessa Monovitz, formerly of the Israel Tax Authority. Hollander believes Aspire's fresh start allows for the integration of advanced AI technologies and a superior product offering, leveraging Bank Leumi's financial backing and existing client relationships.
The trust services sector, particularly for high-tech employee stock options, has become a significant revenue generator. IBI Capital, a subsidiary of IBI Investments, reported substantial growth in its trust services, with revenues reaching 262 million shekels in the first half of 2026, a 113% increase. The company manages stock option plans for nearly 3,000 companies.
Hollander identifies IBI Capital, ESOP (part of The Phoenix), and Altshare as the main competitors in the market. IBI Capital is estimated to hold 40-50% of the market share. The article also details how trust services operate, from initial registration to the fees charged during an "exit" event, which typically involve a percentage of the employee's realized gains.
The article explains that the need for trustees stems from Israeli tax law, specifically Section 102 of the Income Tax Ordinance, which allows employees to defer taxes on stock options. Trustees ensure that tax obligations are met, acting as intermediaries between employees, companies, and the tax authorities. The high-tech industry remains a crucial part of the Israeli economy, with over 400,000 employees in 2025, and significant wealth tied up in employee stock options and restricted stock, estimated at around 150 billion shekels.
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