Gilad Altshuler

Co-founders Gilad Altshuler and Kalman Shaham are selling a 55% stake in Altshuler Shaham Finance's provident and pension funds for 1.1 billion shekels to WeSure and Yair Levinstein.

Following a major ownership shakeup, Altshuler Shaham executives held an emergency webinar to reassure insurance agents. WeSure and CEO Yair Levinstein acquired controlling stakes in the finance arm, while founders retain private operations.

Controlling shareholders Gilad Altshuler and Kalman Shaham are exploring the sale of their stake in Altshuler Shaham Finance. The deal could reach 1 billion NIS, as the investment house manages 112 billion NIS and trades at a valuation of 1.4 billion NIS.

Altshuler Shaham, Israel's third-largest investment house, is undergoing a major reorganization after losing 140.3 billion shekels in client assets over five years. Founder Gilad Altshuler is decentralizing decision-making to overcome the crisis.