Yitzhak Suari Steps Down as Allied Chairman, Son Gary Appointed to Lead
Yitzhak Suari is stepping down as chairman of the Allied investment group after two decades, with his son Gary Suari slated to take over the role on January 1, 2027. Allied manages assets with a turnover exceeding 7 billion shekels annually.
Yitzhak Suari, one of Israel's most prominent business figures, is stepping down as chairman of the Allied holding group after leading the trust for 20 years. His son, Itzhak (Gary) Suari, will assume the chairmanship starting January 1, 2027. Allied is among the nation's largest investment entities, controlling companies with an annual turnover exceeding 7 billion shekels.
The leadership transition was officially approved during an Allied trust meeting held recently in Paris. Suari attributed his resignation to health considerations, noting that he turned 80 this year and has faced physical limitations over the past year that affect his daily routine. "My decision was made after deep deliberation and with a sense of pride and satisfaction in the path we have walked together," Suari told Allied employees.
Simultaneously, Suari is stepping down as chairman of the board of Allied Real Estate, which holds assets worth billions of shekels in Israel and Europe. Moti Zinger, Suari's former partner at their accounting firm, is appointed as the new chairman of Allied Real Estate. Suari will continue to serve as a director in several group companies.
Allied holds a vast portfolio across multiple sectors, including Champion Motors, the importer of Volkswagen and Skoda vehicles, leasing firm Autodeal, heavy equipment and bus company Amcol, and over 900,000 square meters of income-generating real estate in Israel spanning offices, retail, logistics, and industrial parks. The group also holds residential and urban renewal projects, 50% of the Carmel Tunnels, environmental firm Neve Ecology, wind turbine energy companies in Poland and the US, a stake in shipping firm UPS, roughly 22% of logistics company Maman, home appliance retailer Newpan, and ZML Medical Equipment with gas drilling operations.
Established under a trust structure originating from founder Aharon Gutwirth, Allied directs its profits toward philanthropy, new investments, and provisions for the founder's family. Gary Suari, 43, joined the holding company's board in 2022 after previously serving as an assistant to Bank Hapoalim CEO Zion Kenan and managing the Yongil family investment firm.
