On Sunday, Israeli Prime Minister Netanyahu nominated Karnit Flug to be the new governor of the Bank of Israel. Flug had been passed over twice for the position before being nominated for the position on October 20, 2013. Flug was selected as the previous Governor’s deputy, Governor Stanley Fischer, and has been acting governor of the Bank of Israel since Governor Fischer’s resignation in June (which he announced six months before his resignation).
Many people focused on the long, drawn out process of nominating a new person for the position of governor of the Bank of Israel. While the cabinet still needs to confirm Flug in order for her to be named the new governor of the Bank of Israel, most are optimistic that Prime Minister Netanyahu’s cabinet will do so.
Perhaps one of the biggest pieces of news to go along with this announcement is that, if confirmed, Flug will be the first woman to hold her position in Israel. Flug is the most recent woman to be named to a position as the head of a central bank in past months; President Obama named Janet Yellen as his nominee for the head of the Federal Reserve and President Vladimir Putin of Russia named Elvira Nabiullina as the head of Russia’s central bank. This is an exciting time for woman on the financial world stage!
Image courtesy of Sason Tiram/Bank of Israel via Bloomberg