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JERUSALEM (AP) — The head of Israel’s largest bank has announced she is retiring.Galia Maor has been the CEO of Bank Leumi for more than 16 years. Under her management, the bank emerged from the 2008 financial crisis almost unscathed. It also reclaimed the title of Israel’s largest bank in terms of assets, surpassing Bank Hapoalim.
Forbes magazine has recognised her performance in past years by placing her on its list of the world’s 100 most powerful women.
The 68-year-old Maor told the bank’s board of directors Sunday that she planned to retire during the second quarter of 2012. In her announcement, Maor said that after finalising the bank’s multiyear plan she was ready to retire.