11:53
Reported

News Brief

  8/26/2011, Av 26, 5771

Barclays Bank Becomes Tel Aviv Stock Exchange Member


The directors of the Tel Aviv Stock Exchange (TASE) approved, on Thursday, the acceptance of Barclays Bank as a member, following the Bank of Israel's approval of the British bank to operate in Israel as a foreign bank. Barclays joins UBS, HSBC, Deutsche Bank, Citibank and Merrill Lynch International as international members of the exchange.

Chief Executive Officer Leonard Rosen of Barclays said, "As a leading Israeli investment body, the decision will allow Barclays to expand the range of services it will give the State of Israel, its economy and its citizens. Through it, the bank will take an additional step in realizing its goal of becoming a leading Israeli financial body."

TASE CEO Esther Levanon said, "Barclays joining the stock exchange is an important vote of confidence from a leader in international financial markets in the Israeli economy and the capital market." She said the addition "will increase the exposure of the Israeli capital market to international investors and allow its clients around the world, easy access to the Tel Aviv exchange."