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Daily Israel Report

Mizrachi Economist Maoz 'Not Sacked', Says Excellence-Nesuah

Shlomo Maoz was not fired, says investment firm, only removed from some of his duties after "white tribe" comments.
By Gil Ronen
First Publish: 1/23/2012, 1:25 PM

Shlomo Ma'oz
Shlomo Ma'oz
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Shlomo Maoz was not sacked by investment firm Excellence-Nesuah, but only relieved of some of his duties, an official in the firm told the Knesset Monday. Maoz, a Sephardic Jew, aroused the firm's ire when he made a speech denouncing "white" Ashkenazi elites that he claimed wield unfair power in the country.

Excellence-Nesuah's Deputy Director for Management, Moshe Barmak, told the Knesset's Finance Committee that Maoz was removed from the positions of chief economist and presenter, but continues to serve as director and funds manager.

The Finance Committee was scheduled to discuss the Maoz affair, but did not do so because Maoz and Excellence-Nesuah's General Manager David Baruch both failed to show up for the session. Neither man explained why he did not come.

The revelation by Barmak is a reversal of earlier statements by the firm that indicated Maoz was fired from all duties. In a statement following Maoz's speech, Excellence-Nesuah said that it was “shocked” at his comments. “In light of his rude and obnoxious comments, Shlomo Ma'oz will no longer work at our investment house. Excellence apologizes to any whose sensibilities were hurt, and disassociates itself from these comments.”

Maoz had said at a conference at the Sapir College that well into the country's seventh decade, "The same white tribe rules." Bank Leumi, he added, "is for white people only. Only whites can achieve top-level positions.”

In addition, he said, “The Knesset and government budget committees are monolithic, with a vast majority of Ashkenazim, one Russian and one Mizrachi.”  With these kinds of odds, the Ashkenazim guarantee themselves hegemony for the future.