BANK OF ISRAEL
Office of the Spokesman and Economic Information
July 12, 2011
Press release:
Andrew Abir appointed Director of the Market Operations Department at the
Bank of Israel
The Governor of the Bank of Israel, Prof. Stanley Fischer, has announced the
appointment of Andrew Abir as Director of the Market Operations Department at the
Bank of Israel. The Governor had set up an appointments committee for the role,
chaired by Prof. Zvi Eckstein, who was then the Deputy Governor. The other
committee members were Dr. Edward Offenbacher, the Head of the Monetary and
Finance Division in the Research Department and member of Bank management, and
Ms. Esther Dominissini, the Director General of the National Insurance Institute. In
the course of the appointment procedure, the Governor forwarded the names of two
candidates to the appointments committee, and after consulting with members of the
committee, the Governor decided to appoint Mr. Abir to the position.
Andrew Abir will replace Barry Topf, who was named by the Governor as Senior
Advisor to the Governor on monetary policy issues. Topf was also named to the
Monetary Committee.
Andrew Abir, 49, has a BA degree in Economics and Politics from Oxford University,
and an MBA from Hebrew University. Abir began his career at the Bank of Israel in
1987, and has filled various roles, primarily in foreign currency reserves management
and exchange rate policy. In the course of his roles he served as a member of the
Investments Committee of the Foreign Currency Department, was responsible for the
fixed income portfolio of foreign currency reserves at the Bank of Israel, and headed
an intra-ministerial committee to deal with market solutions for crisis. Additionally,
he was an advisor to other central banks on behalf of the IMF in the field of exchange
rate policy and reserve management. Between 2003 and 2008, he managed the Bank's
dealing room. Since 2008, he has served as Deputy Director of the department, and
the Head of the Financial Division in the Market Operations Department, responsible
for back and middle office operations.
The Governor of the Bank of Israel cited Abir's important contribution to the way in
which the Bank of Israel Market Operations Department operated during the crisis,
and to the restructuring of the department, in which parts of the Monetary Department
were merged into the Foreign Currency Department and many roles and
responsibilities were added to it, which it carried out successfully. He wished Andrew
Abir success in his new role, and expressed his confidence that the Market Operations
Department under his leadership will successfully meet the many challenges it faces
in the future.