"We will not make the mistake of Mivtach": Ayalon's conditions for merging its provident fund activity with Altshuler
Ayalon is considering merging its provident fund activity into Altshuler Shaham Finance, setting strict conditions: dominance in investment management, service to agents, and inclusion of the company name. A senior source at Ayalon told Globes that without these conditions, there will be no deal. Altshuler Shaham clarified that investment management will remain exclusively with them.
Ayalon is seriously considering merging its provident fund activity into Altshuler Shaham Finance, which is being acquired by Ayalon's parent company, Vishor Globaltec. A senior source at Ayalon told Globes that the company is setting strict conditions for the deal: Ayalon's name will appear in the unified company's name, dominance in investment management, and in providing service to insurance agents. According to him, "If these conditions are not met, there simply will be no deal." The change in Ayalon's position stems from a strategic opportunity to enter Altshuler Shaham's pension activity. On the other hand, Altshuler Shaham previously clarified that investment management will remain exclusively with them.