Michal Halperin Expected to Win Another Term as Bank Hapoalim External Director

Michal Halperin, former head of the Israeli Antitrust Authority, is anticipated to be re-elected for another term as an external director at Bank Hapoalim. Halperin has served as an external director since April 2024 and has become a prominent figure on the board, earning respect from institutional investors. She also chairs the bank's remuneration committee and is expected to receive backing from ISS, a consulting firm that typically supports incumbent directors.

The bank's committee for appointing directors has nominated two challengers against Halperin: accountant Tamar Shechter, formerly a senior executive at Citi Bank, and lawyer Yael Grossman. Meanwhile, a competitive race is unfolding for the position of regular director between incumbent Israel Trau and former Bank of Israel senior official Oded Salomi.

Oded Salomi, who retired from Bank of Israel in May 2025 after serving as head of payment systems and clearing, has applied for the director role and was selected by the appointment committee chaired by Judge Tzila Tzfat. Salomi, a fintech expert and former CEO of Visa Israel, will face Israel Trau, a current director since November 2020 and former CEO of Union Bank. Trau chairs the bank's credit committee and is expected to receive support from foreign shareholders and ISS. Both candidates are eligible to serve until 2029 under the nine-year term limit.

Trau was previously a candidate for Bank Hapoalim chairman but lost to Noam Hangbi about 18 months ago. The upcoming elections highlight a significant contest for key board positions at one of Israel's largest banks.