Bank Leumi and Aspire Launch Joint Trust Company for Employee Stock Plans

Bank Leumi and the investment house Aspire are establishing a joint trust company focusing on employee stock option and equity plan management, alongside trust services for mergers and acquisitions. Leumi will hold a 51% stake in the new entity, while Aspire will own 49%, introducing a fresh competitor to a market currently dominated by a limited number of major players such as IBI Capital, Phoenix ESOP, and Altshuler.

Expanding Financial Services and Strategic Goals

The newly formed company will manage equity-based compensation plans for corporate employees, overseeing share and option allocations as well as ongoing administration. Additionally, it will provide escrow and trust services for M&A transactions, such as holding funds until specific contractual conditions are met.

Leumi's entry into this sector reflects the growing adoption of equity compensation, particularly within the high-tech industry and other corporate sectors. For Leumi, the initiative broadens the suite of services offered to existing corporate clients. For Aspire, a newly emerging investment house, the venture is spearheaded by CEO and founder Chana Hollander, who previously led Excellence ESOP.

"We are coming in to be a significant player," Hollander stated, emphasizing that the new firm will combine professional expertise, Leumi's extensive network, and advanced technological investments.

Leadership and Future Timeline

Aspire is currently building out a broad capital markets operation, with plans spanning investment management, alternative investments, underwriting, investment banking, and pension insurance brokering, alongside international financial partnerships.

The joint trust company will be led by Adv. and CPA Vanessa Monovitz, who previously held senior positions in accounting firms and the Israel Tax Authority. Operations are slated to commence by the end of 2026.