Eitan Madmon to Step Down as Head of Israel’s Association of Banks

Eitan Madmon has informed Association of Banks in Israel president Uri Alon that he intends to leave his position as the association’s chief executive. The two agreed that Madmon will continue serving until the end of 2026, according to the departure announcement reported on Tuesday, November 3. In his departing remarks, Madmon said the banks had maintained their financial strength and stability through the COVID-19 pandemic and the continuing war. He said they had expanded assistance to customers and their contribution toward the state’s war expenses. Describing the association’s work during his tenure, Madmon said: “We managed to protect the system from populist measures that threatened it.” He also described continuing pressure on banks to lower household account costs alongside legislative constraints. Alon thanked Madmon for his dedication and years of service. He praised Madmon’s handling of a difficult period and the association’s professional standing with regulators, government, legislators and banking leaders. Madmon, in turn, thanked the banking sector’s leaders for their cooperation during his tenure. Madmon was selected to lead the association in April 2019 ahead of a planned start that May. His appointment followed a prolonged search after Moshe Perl announced his departure. The association represents the interests of Israel’s banking sector, particularly in its dealings with government bodies.