Bank Leumi USA hopes to expand its high-tech penetration after opening the first Israeli bank in the Silicon Valley. The new branch, in San Jose, is expected to see an influx of high-tech customers that will leverage its strengths and complement its market in Israel. "I am very pleased about developing our high-technology banking business," said Bank Leumi USA chief executive Zalman Segal. "Although the high-tech industry is experiencing an adjustment, I am optimistic about establishing relationships with American high-tech companies and growing the synergistic relationships we have with Israeli firms expanding their businesses in the Silicon Valley."
The branch plans to focus on providing private and corporate banking, primarily for the Israel high-tech community in the Valley. In addition, it hopes to participate in financing the high-tech sector through its venture lending division. It is headed by Boaz Blumovitz, a 12-year veteran of Leumi Group. Dan Meiri, executive vice president of California operations, said he expects that Blumovitz will "infuse his global expertise in private equity corporate finance to develop relationships with established high-tech businesses."
The branch plans to focus on providing private and corporate banking, primarily for the Israel high-tech community in the Valley. In addition, it hopes to participate in financing the high-tech sector through its venture lending division. It is headed by Boaz Blumovitz, a 12-year veteran of Leumi Group. Dan Meiri, executive vice president of California operations, said he expects that Blumovitz will "infuse his global expertise in private equity corporate finance to develop relationships with established high-tech businesses."
