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Bank Hapoalim ranked among top 20 foreign banks in Switzerland in 2010
Zurich (ots) - Bank Hapoalim (Switzerland) Ltd has been ranked 19th, out of 162 banks reporting, based on net profit. In terms of gross profit, the position of Bank Hapoalim Switzerland has improved by two levels. These rankings are based on the 2010 Economic Figures report published by the Association of Foreign Banks in Switzerland. This achievement follows closely in the footsteps of a strong first quarter earnings report by the mother company, Bank Hapoalim, B.M.
Orit Lerer, Chairperson of the Board, commented: "Bank Hapoalim Switzerland is the main pillar of our Global Private Banking business. The outstanding work of our board of directors, management team and staff is reflected in the increase in client confidence and in another year of superior ranking with respect to our peer group."
Chief Executive, Michael Warszawski, said: "Bank Hapoalim has set ambitious targets for its world class Swiss Private Banking subsidiary. The level of professionalism and responsiveness demanded by our clients increases every year. In response, we continue to invest in our people and our platform. As these investments bear fruit, we are grateful for the corresponding increase in client satisfaction and trust which is the key to our consistent outperformance."
About Bank Hapoalim (Switzerland) Ltd
Bank Hapoalim (Switzerland) Ltd is the Swiss Private Banking subsidiary of Bank Hapoalim, B.M. Established in 1975, Bank Hapoalim (Switzerland) Ltd delivers sophisticated wealth management services to high net-worth individuals around the globe via branches in Zurich, Geneva, Luxembourg and Singapore, representative offices in Tel Aviv, Moscow, Hong Kong and Mexico. Assets under Management of Bank Hapoalim (Switzerland) Ltd reached CHF 9.67 billion at end of 2010. Bank Hapoalim (Switzerland) Ltd is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Bank Hapoalim (Switzerland) Ltd
Michael Warszawski, CEO