Gary Soari receives the keys to manage 7 billion shekels at Allied

Yitzhak Soari is stepping down as head of Allied after 20 years, and his son Gary Soari will be appointed chairman as of January 1, 2027. The trust meeting in Paris approved the appointment. Soari cited health reasons for his retirement. Moti Singer will be appointed chairman of Allied Real Estate.

Drama at Allied: Yitzhak Soari is stepping down as head of the group after 20 years, and his son Gary (Eigar) Soari will be appointed chairman in his place as of January 1, 2027. Soari cited health reasons for his retirement, telling employees that "the continued functioning of the group requires managerial adjustments." The trust meeting in Paris approved the appointment. Meanwhile, Moti Singer will be appointed chairman of Allied Real Estate. Allied is a trust that controls companies with a combined turnover of over 7 billion shekels a year, including Champion Motors, Autodeal, Amcool, extensive real estate in Israel and Europe, shares in the Carmel Tunnels, UPS, and Maman. The group, defined as a concentrated entity since 2018, operates relatively discreetly and directs its profits to philanthropy. Gary Soari, 43, with a background at the Israel Securities Authority and Bank Hapoalim, was appointed a director in 2022.