Bank Hapoalim CEO warns of judicial reform's results on business market

Dov Kotler, Bank HaPoalim CEO, warned of the consequences of the proposed judicial reforms on the business market in a viral social media post late last month. 

Kotler said that every significant move the state makes will also be scrutinized by foreign investors. Yes, Israeli citizens own lots of property and companies, but these are also owned by important foreign investors.

Over 50,000 people viewed the post, which received hundreds of comments. He warned about the business consequences that may follow the proposed reform and the impact of developments regarding the "legal revolution" on the largest bank in Israel, whose branches are spread all over the country.

In the post, Kotler called not to take unilateral measures and explained his position in detail. He stated that he thought it was appropriate to write a personal post, both as a citizen and as a CEO who manages thousands of employees. 

Kotler said he heads an organization where partnership is a central value in the corporate culture, a value that should also guide Israel as a country. He thinks that changes are required but in evolution and not revolution. The system will be tested from time to time, and necessary adjustments will be made. It's important to do this with broad agreement between different factions. 

Kotler is proud to work for an organization that has established occupational diversity where it doesn't matter if you're Jewish, Arab, religious, ultra-Orthodox, secular, LGBTQ+, right-wing, left-wing or with a disability.

The CEO of Israel's largest bank concluded by saying that now's the time to speak. Kotler stated that "all citizens have different beliefs and opinions about what's happening in the country, but just before we let disputes dictate the tone, let's talk, let's listen to each other and be tolerant, and especially remember that we need to take care of our future generations, our children and grandchildren, and preserve the miracle called the State of Israel. Our unity is our strength."

Bank Hapoalim is not alone on this position

Kotler's post is similar to a position on current affairs that was recently undertaken by Discount Bank management which referred to the discourse on the legitimacy of discrimination in the provision of services in businesses. 

The bank's board of directors accepted the recommendation of the bank's CEO, Uri Levin, to deny credit to any business or entity that discriminates against customers on the basis of religion, race, gender or sexual orientation.