Asaf Eldar Leaves Israel Discount Bank to Lead Bituach Yashir as CEO
Asaf Eldar, head of the banking division at Israel Discount Bank, has resigned to become CEO of Bituach Yashir. His departure is part of a broader wave of senior executive exits amid increasing fintech competition in Israel's financial sector.
A wave of high-profile departures continues to sweep through Israel's banking sector as Asaf Eldar, Executive Vice President and Head of the Banking Division at Israel Discount Bank, announced his resignation. Eldar is set to take the helm as CEO of direct insurance company Bituach Yashir, succeeding Kobi Haber, who is stepping down after eight years in the position.
Eldar's departure coincides with the announcement that Ron Grisru, Head of the Retail Division at First International Bank of Israel, is also leaving his post. These exits follow a recent trend of senior banking executives moving on, including Clara Zabargal, Head of Real Estate at Bank Hapoalim, who departed earlier after a 45-year career.
Eldar joined Israel Discount Bank in 2010, advancing to the executive management team in 2019. During his tenure, he spearheaded digital transformation, marketing, and artificial intelligence integration. His previous roles included leading the Operations and Assets Division and serving as CEO of Discount Leasing, where he oversaw the planning and construction of the new corporate campus in Rishon LeZion. In 2025, his total compensation package reached 3.44 million shekels, comprising a base salary of 3.3 million shekels and a bonus of 1.1 million shekels, while his predecessor Haber earned approximately 5.1 million shekels annually.
The exodus of banking veterans unfolds against a backdrop of sweeping structural changes. British fintech giant Revolut recently secured a conditional license to operate as a bank in Israel, introducing a global competitor with 80 million customers across 40 countries. Additionally, the new digital lender Esh Bank is preparing to launch operations under a novel banking model.
Reflecting on his career transition, Asaf Eldar stated, "After 17 incredible years at Israel Discount Bank, I am excited to embark on a new journey as CEO of Bituach Yashir. The journey has been fascinating, and I was privileged to lead strategic initiatives including the establishment of our new campus and the banking division." Muki Schneidman, Chairman and controlling shareholder of IDI Insurance, praised the appointment, while Israel Discount Bank CEO Avi Levy commended Eldar's exceptional leadership and contribution to the institution.
