After the attempted ouster: Eitan Madmon, CEO of the Banking Association, resigns from his position

Eitan Madmon, CEO of the Banking Association, announced his resignation after eight years in the role. The announcement comes months after an attempted ouster by bank chairmen, which led to intervention by the Competition Authority. Madmon will remain in his position until the end of the year.

Eitan Madmon, CEO of the Banking Association, announced this morning (Tuesday) his intention to resign after eight years. The announcement comes a few months after Globes revealed an attempt by some of the major bank chairmen to oust him, which led to intervention by the Competition Authority, which feared alleged coordination. Madmon's tenure was characterized by struggles with the Treasury over taxation of the banks' excess profits, which yielded billions of shekels in recent years. In his resignation statement, Madmon said: "We managed to protect the system from populist moves that threatened it." The association's president and chairman of Leumi, Uri Alon, thanked Madmon for his contribution. The two agreed that Madmon would continue to serve until the end of the year.