Psagot is Israel's largest investment house. On behalf of its close to one million private investors, business clients and institutional clients, Psagot manages approximately 186* billion NIS.
The investment house offers its clients a wide range of investment tracks and investment instruments adapted to meet investors' various needs and in addition offers life insurance products to suit diverse objectives. Psagot Investment House is owned by Apax Partners.
Regulatory and Internal Compliance
The Regulatory and Compliance Department of the investment house deals in the implementation of the Psagot group’s internal compliance program. As part of implementing the compliance program, the Regulatory Department is responsible, among other things, for assimilating a regulatory compliance organizational culture, for providing regulatory advice on a regular basis to the business units and for performing compliance tests. The Regulatory Department constitutes one of the Psagot group’s control systems and gatekeepers and its operations are monitored by the boards of directors as well as by the audit committees in the group’s companies.
The main functions of the Psagot Investment House
The Psagot Investment House has undertaken three major roles in the management of public funds and they are:
1. Responsible and professional investment management of the clients’ funds
Contributing to Psagot’s continuous success and ongoing outstanding investment performance, are skilled and dedicated human capital, boasting outstanding professional qualities that contribute to the group’s praiseworthy reputation in the capital market. Psagot’s rapid and continuous growth is founded on its proven track record in the areas of investment, research and advanced information systems, as well as in professional service and personal contact with private investors, corporations, financial institutions, investment consultants at the different banks and insurance agents.
Psagot employs a research and investments team numbering 80 analysts, investment managers and traders licensed by the Securities’Authority in specialized research departments. Psagot’s research and investments team is the largest and most qualified among the investment houses in Israel.
2. Preserving and protecting the rights of investors and savers amid full transparency
The Psagot Investment House has set its goal to preserve and protect the rights of investors and savers. To this end, early in 2013, Psagot formulated the principles securing its commitment to its pubic of clients and the necessary degree of institutional involvement in various situations by publishing an official document entitled "Psagot’s Institutional Involvement Convention". The Convention, which was made public and is available in detail on the company’s website, defines straightforward and foreseeable rules of transparent conduct. Psagot is the first and sole investment house that has established a department earmarked to deal in institutional involvement. The department is active in implementing clear principles established by the investment house in order to ensure and maximize the clients' rights throughout the investment period.
3. Augmenting financial knowledge and savings awareness in Israel
In recent years, economic and financial risks have intensified significantly, both on the personal and economic level. In addition, key processes shaping the local economy, such as responsibility for pension savings shifting to the public, the sophistication of financial products as well as intense economic debates in the media, have aroused the need to increase financial knowledge among the Israeli public.
The financial education concept applied by the Psagot Investment House is an integral part of the investment management company’s values and corporate responsibility, designed to create continuous improvement in the savings of Psagot’s clients and the general public.
In this context, Psagot has established a financial education data center offering the latest information on the capital market and pension savings applying a variety of advanced instruments.
Barak Soreni - CEO of the Psagot Investment House
Barak Soreni has 24 years experience in various management, investment and research positions in the financial system, nine years of which at Psagot.
Soreni was appointed CEO of Psagot Investment House in August 2016. Prior to this appointment, he served as CEO of Psagot Securities, the Portfolio Management Company and a stock exchange member of Psagot, and chairman of Psagot’s credit committee. In addition, Soreni served as a director on the Tel Aviv Securities Exchange (TASE) BOD prior to his appointment as CEO of the investment house. He previously served in a variety of positions, including senior investment manager at Psagot, Psagot’s alternative assets manager, Psagot Securities External Funds Manager as well as in a number of executive investment and research positions of Gmulot (formerly of the Bank Ha’Poalim group).
Barak Soreni holds a BA (with honors) and an MBA in Business Administration and Economics, both degrees from the Hebrew University in Jerusalem.
Dr. Ehud Shapira - Chairman of the Board of Directors of Psagot Investment House
Dr. Shapira has 32 years experience in various executive management positions in the financial system. Dr. Shapira was appointed Chairman of Psagot Investment House in 2011. He also serves as Chairman of the subsidiaries Psagot Securities and Psagot Mutual Funds, Chairman of the Investment Committee of "Reality", Real Estate Fund and a member of the Board of " The Mediterranean Car Agency".
Prior to his appointment, he served for four years as Chairman of the Board of Directors of the Phoenix Insurance Company and Phoenix Holdings. He previously served as Senior Deputy CEO of Bank Leumi and Acting Deputy CEO, as an executive director of international and corporate banking and the Credit Risks Manager of the Leumi Group.
Apart from these duties, Dr. Shapira, is a member of the Board of Trustees of the Tel Aviv Museum of Art and its Finance Committee, serves on the Executive and Finance Committees of Bar Ilan University and is Chairman of the Board of Directors of "Bar-Ilan Research and Development Ltd.", the commercializing intellectual property company of the Bar-Ilan University.
Dr. Shapira holds a PhD degree in economics from New York University.
(NYU), a MSc degree from the Technion and a BA in Economics and Statistics from the Tel Aviv University.
Dr. Shapira serves as Chairman of the Association of Friends of the “Ghetto Fighters' House”.
*The data is only an estimate as of December 28, 2016