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Senior Staff
Ms. Anat Guetta – ISA Chairwoman
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Ms. Anat Guetta was appointed as Chair of the ISA on January 2018. Anat Guetta co-founded Entropy Financial Research Services Ltd., which advises institutional investors on corporate governance, proxy voting, and activity in the capital market. She served as CEO of the firm from its inception in December 2010 until August 2017. During her tenure, she advised institutional investors, created a platform for cooperation with Entropy's U.S. counterpart (ISS), and led the development of a voting policy, a corporate governance index, and a debt management policy. In 2005, Guetta led the formation of Arko Holdings Ltd., which is traded on the Tel Aviv Stock Exchange, and served as CEO of the firm from its inception until 2008. In the years 1993 to 2005, Guetta served in various positions in Bank Mizrahi-Tefahot Ltd. In her last position in the bank, as an economist in the business banking division, she developed and managed the area of credit risk products, allocation of credit to institutional investors, and project finance. Guetta holds an MBA ('05) with a specialization in finance from Netanya Academic College and a BA ('93) in Political Science and Economics from Bar Ilan University. |
Mr. Oded Spirer, Adv. – Director General
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Spirer has served as Director General of the ISA since 2019. He previously held the position of secretary general of the ISA and director of the Administration, Finance & Human Resources Department for a period of nine years. He also served as chair of the inter-ministerial committee for continuity of TASE operations during emergencies, appointed by the Minister of Finance. From 2001 onward, after serving in several positions in the ISA investigations and intelligence department, Oded Spirer was promoted to deputy director of the department. Spirer earned an LLB degree, a BA degree in business administration, and an LLM degree at the Interdisciplinary Center of Herzliya (IDC). |
Mr. Amir Wasserman, Adv. – General Counsel
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Amir Wasserman is the General Counsel and Head of the Legal Department at the Israel Securities Authority (ISA). As General Counsel he has the overall responsibility for all legal matters and activities performed within, or involving, the ISA. Wasserman joined the ISA in 2001 as a lawyer at the Corporate Finance Department, where he gained expertise with regulation of public companies. In 2005 he left the ISA and joined Rosenberg, Hacohen, Goddard & Ephrat law firm, where he worked as an associate and a partner in the field of capital markets. In 2006 Wasserman published, with a colleague, the book "Corporations and Securities", on the subject of regulation applying to corporations that offer their securities to the public. Wasserman returned to the ISA in 2011, to serve at his current position, as the General Counsel and Head of the Legal Department at the ISA. In the last years he also teaches a course on securities laws at the Faculty of Law of the Hebrew University of Jerusalem. Wasserman holds a degree in Law and Economics (LLB & B.A), and a Master in Economics and Business Administration, both degrees from the Hebrew University of Jerusalem, as well as a Master in Public Administration from Harvard University. |
Mr. Hanoch Hagar, Adv. – Senior Advisor to ISA Chairwoman
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Will be updated soon
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Mr. Offir Eyal, Adv. – Director of the International Affairs and Business Development
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Offir Eyal joined the ISA in 2010. He is currently serving as Director of International Affairs and Business Development Department. He previously (2017-2019) held the position of Senior Advisor to the Chair and as the Director of the International Affairs Department. In his former position, Adv. Eyal served as head of the ISA's Private Enforcement Unit. This was a pioneering role and he worked intensively to increase the ISA's involvement in private enforcement of securities and corporate laws as well as to increase awareness that private enforcement can and should be a significant means of enforcement in these areas. Prior to joining the ISA, Adv. Eyal worked with some of Israel's leading Israeli law firms, including Danziger, Klagsbald & Co. Associates and A. Klagsbald & Co., advising some of the largest and leading business players on complex civil litigation, focusing on contract and administrative issues. Adv. Eyal holds a degree in law from the Hebrew University of Jerusalem and an LLM degree (with Honors) from the University of New South Wales (UNSW) in Sydney, Australia. |
Mr. Lavi Ovnat, Adv.— Director of the Department of Investigations, Intelligence, and Market Surveillance
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Mr. Lavi Ovnat, Adv.— Director of the Department of Investigations, Intelligence, and Market Surveillance Ovnat serves as the Director of the Department of Investigations, Intelligence, and Market Surveillance. He has been working at the ISA since 2006. He began his professional journey at the ISA as an investigator in the Investigations Division in 2006, and in 2009 was appointed as a team leader of complex economic investigations in Israel and abroad involving securities transgressions and penal law transgressions, and led several investigative cases from the Israel Securities Authority in these years (Siemens, IDB, Psagot, Manofim etc.). In 2016 Ovnat left his position at the Israel Securities Authority due to being appointed as Director of the Department of Enforcement at the Privacy Protection Authority at the Ministry of Justice. As part of this role he unified and managed the criminal and administrative enforcement branches at the Privacy Protection Authority, founded their Inspections Arrangement, and built their preparation plan for bringing new privacy protection rules into effect (information security), served as a member of the board of trustees at the International Enforcement Conference held by the Privacy Protection Authority in 2017 and organized an International Enforcement Conference in 2018 which was held in Israel. In 2018 he returned to the ISA and was appointed to the Director of the Investigations Division and Deputy Director of the Department of Investigations, Intelligence, and Market Surveillance. Besides managing complex investigations in the divisions managing securities, penal, and money laundering transgressions, he managed the informational gathering and assessment units and founded the technological unit dealing with the development and implementation of advanced technological tools as part of the department's activity. Ovnat holds a Bachelor's and Master's degree in law LLM. and L.L.B (Cum Laude) as part of Bar Ilan University's fast track program for excellent students. He also holds a Master's degree in Public Management from Harvard University in the United States. In May of 2022 he was appointed as the Director of the Department of Investigations, Intelligence, and Market Surveillance. |
Mr. Ilan Gildin – ISA Chief Economist and Strategic Advisor
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For the past five years, Gildin has served as the macro-economist of the investment division of Amitim – The Defined Benefit Pension Funds. In this capacity, Gildin led the development of the organization's macro-economic forecasts, investment strategies in major markets, and in-depth research on the impact of technological innovations on investment patterns. Gildin began his professional career as an officer in the Unit of the Financial Advisor to the Chief of the General Staff (the Budget Division of the Ministry of Defense). Gildin was also involved in the defense budget negotiations with the Ministry of Finance and other government ministries, and was a member of the team that worked to secure parliamentary and government approval of the defense budget. Gildin also served as a member of the Bank of Israel Economic Forecasters Forum and the Chief Economist of the Ministry of Finance. In addition, Gildin lectures at the School of Economics, the Collage of management, and has received awards for his outstanding achievements in Amitim and the College of Administration. Gildin holds a graduate degree in diplomacy and business management from Tel Aviv University, and a bachelor's degree in economics from Haifa University. |
Ms. Hadar Horen – Spokeswoman and Head of Investor Education
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Mrs. Horen serves as the spokesperson of the Israel Securities Authority and Head of Public Education since May 2018. Prior to that, she served as the spokesperson of a government unit in the Ministry of Defense and in that, capacity took part in Israel's international PR efforts. She was a member of the senior management and participated in the National Information Directorate forum in the Prime Minister's Office. In the past, she played a leading role in media policy in the context of major reforms and campaigns carried out by the spokesperson's office in the Ministry of Finance, including the State of Israel's financial statements and the State Budget. Before that, Mrs. Horen worked at Concord Strategic Solutions where she served as media advisor to international and Israeli companies in the private sector and particularly on the financial and technological fields. In addition, Horen served as a consultant for public affairs to the minister of public security. Mrs. Horen holds a BA in Political Science from the Hebrew University of Jerusalem. She is a graduate of an executive training course given by the Ministry of Finance together with ELKA, the JDC Institute for Leadership and Governance. Mrs. Horen is a graduate of a project management course given at the Technion campus in Tel Aviv. Mrs. Horen completed a spokesperson and PR course given by Habetzsefer – Israel's Advertising Agencies Academy. |
Mr. Amir Helmer, Adv. – Director of Inspections and Examinations Department
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Amir Helmer is the Director of the Inspections and Examinations Department. Helmer has joined the ISA in 2005 as a lawyer at the Corporate Finance Department, where he gained expertise with regulation of public companies. Between 2015 and 2020, Helmer served as Deputy Director of the Corporate Finance Department and the Director's Legal Counsel. He previously served as the Director of the Disclosure and Reporting Division in the Department. Helmer has also taught securities law and regulation in the graduate program of the College of Administration. Before joining the ISA, he was the editor of the TheMarker's legal desk. At the ISA, Helmer handled a wide range of issues. He was involved in developing legislative amendments to the Companies Law concerning Corporate Governance (Amendments nos. 16 and 17); he lead a process to improve reporting quality and relaxed requirements concerning immediate reporting by the reporting corporations, and was a member of the committee for the examination of regulation of ICOs, among others. Attorney Helmer holds an LLB degree from Haifa University |
Mr. Oren Hener – Deputy Director General of Information Systems
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Mr. Hener assumed the position of Deputy Director General of Information Systems in the Israel Securities Authority in November 2022. Before joining the ISA, between 2018 and 2022, he served as Senior Division Director of Digital and Information System in the Volcani Institute – Agricultural Research Organizations, where he led the establishment of the Center of AI in Agriculture in Israel and headed a new product development project based on results of the Institute’s research. In this position he led the integration of advanced technologies including AI, IOT, and HPO, and open-source code-based technologies.
Between 2014 and 2018, Mr. Hener served as the Director of IT at Merhavim Hospital (the largest psychiatric hospital in Israel with a staff of 1,000 and 10 sites), and was responsible for the hospital’s digital transformation during the psychiatric hospital reform.
Previously, Mr. Hener served in various positions in private sector high-tech firms.
Mr. Hener earned a BA degree in social studies from Bar Ilan University, a BSc degree with honors in Computing from Derby University, and an MBA from Ono Academic College |
Mr. Noam Katz – Deputy Director General, and Director of Administration, Finance, and Human Resources Department
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Mr. Katz joined the ISA in 2003 and since November 2019 serves as the Deputy CEO and Director of the Administration, Finance, and HR Department. He previously served for a decade as deputy to the General Secretary and Director of the HR Unit. In his current position, Mr. Katz is in charge of the ongoing administration of the ISA's operations in the areas of finance, human resource, procurement, and administration. Throughout his years with the ISA, Mr. Katz was a partner in numerous projects. He led a significant reform in the salary and remuneration system, led the introduction of employee assessment procedures and managerial development programs, he established a professional training unit, expanded the pension fund management and oversight function, and was involved in management of the ISA's annual budget. Mr. Katz is also a member of the ISA's tender committee and acting committee chair. Mr. Katz holds a BA in political science, anthropology, and sociology from the Hebrew University of Jerusalem, an MA in labor studies, specializing in HR management, labor relations, and organizational studies from Tel Aviv University, and an MBA from Ben Gurion University of the Negev. |
Ms. Inbal Polak - Director of the Investment Department
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Ms. Inbal Polak is the Director of the Investment Department since June 2021. Ms. Polak began her professional career in the capital market as a relationship manager at Psagot Mutual Fund Management. She then established and headed the fund assets rating unit (mutual funds and provident funds) at S&P Maalot. She also served as a fund analyst and portfolio manager at UBS Bank (UBS Wealth Management Israel). Between 2017-2018, Together with the investment house of Altshuler Shaham Ltd., Ms. Polak established and served as CEO of Altshuler Shaham Alternative, which focused on alternative investments in and outside Israel. Ms. Polak also co-founded NEOME, a women angel club investing in early stage startups, where she served as partner and chief investment officer. More recently, Ms. Polak served as an advisor to YRD Capital, a fund of hedge funds focusing on digital assets. In this position Ms. Polak led the due diligence process and monitoring the funds' risk. She also served as a member on the advisory committee of the Dock Innovation Hub, a maritime venture capital firm. Ms. Polak assisted, as community service, the Wonder Jewel venture, which develops smart jewelry and accessories that identify and communicate stress to save lives while alerting an on-going attack. Polak was also active in Ze-Ze, a social venture to motivate young people to engage in volunteering. Ms. Polak earned a BA degree in business administration and sociology (magna cum laude) from the Hebrew University of Jerusalem, and an MBA specializing in finance, accounting, strategy, and entrepreneurship from Tel Aviv University. |
Dr. Ilana Lipsker-Modai, Adv. – Director of Administrative Enforcement Department
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Dr. Lipsker-Modai joined the ISA in 1994 as an attorney in the securities department of the Tel Aviv District Attorney’s Office for Economic Crimes. Between 2006 and 2010, she was a director at the department of taxation and securities of the Tel Aviv District Attorney’s Office for Economic Crimes. In her work as an attorney, she managed large-scale complex criminal cases involving violations of the Securities Law and the Penal Law. In January 2011, Dr. Lipsker-Modai was appointed director of the administrative enforcement department, which was established when the Administrative Enforcement Law entered into force. In this position, she set up the department, designed a detailed model for implementing administrative procedures, and in cooperation with the administrative enforcement committee, developed procedures for the committee’s work and designed the complaint forms for the new procedure as well as the enforcement arrangements. Dr. Lipsker-Modai earned her PhD at Bar Ilan University. Her doctoral thesis explored the insider trading offenses. She earned an MA degree at Bar Ilan University, with honors, completing a thesis on manipulation and inducement offenses. |
Ms. Sarah Kandler, Adv. – Director of Corporate Finance Department
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Ms. Kandler has been with the ISA since 2001 and currently serves as Director of the Corporate Finance Division. Ms. Kandler first joined the ISA as the legal counsel of the former Investment Advisers and Portfolio Managers Licensing and Supervision Department. Upon establishment of the ISA's Investment Department in 2008, Ms. Kandler was appointed Senior Adviser to the Department Manager, and later promoted to Deputy Department Manager. Between 2013 and 2019, Ms. Kandler served as the Deputy General Counsel and Manager of the Legislation Unit. For one year in 2017 she served as the ISA's acting General Counsel. Between 2019 and mid-2020, Ms. Kandler served as Senior Advisor to ISA Chairwoman. In her positions at the ISA, Ms. Kandler has been an active partner in promoting the ISA's strategy and has led various projects, mainly in the field of regulation and legislation. Among her achievements, Ms. Kandler headed the ISA's anti money laundering efforts since the AML law came into effect, was a partner in promoting major ISA reforms, including reforms involving the restructuring of the stock exchange, regulation of rating companies' operations, regulation of trading platforms, the legislation prohibiting the sale of binary options, crowd funding regulation and Amendment 28 to the Mutual Funds Law. As senior advisor to the chair, Ms. Kandler Assisted the chairwomen in Promoting the ISA's strategy within the government and in conjunction with private sector players. Among other projects Ms. Kandler was a partner in promoting ISA's initiatives, such as the promotion of technological innovation in the markets, new digital platforms, implementing international standards in the Israeli market and open finance. Ms. Kandler holds an LLB degree from Bar Ilan University and an LLM from the Hebrew University of Jerusalem. |
Mr. Itzik Shurki, CPA – Director of Stock Exchange and Trading Platforms Supervision Department
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Itzik Shurki has been employed by the ISA since 2000 and currently serves as the director of the Stock Exchange and Trading Platforms Supervision Department. He began his work at the ISA as an economist in the Economic Department, and his most recent position there was deputy director of the department. Since 2006 he has served as an observer on behalf of the ISA at board meetings of the TASE and its committees, and at board meetings of the TASE Clearing House and the Maof Clearing House. Shurki was a member of the committee on the examination and regulation of real-estate investment trust funds in Israel, which submitted its recommendations in 2003. He was a member of the inter-ministerial team On Examining the Need for Regulation of Financial Instruments (“Financial Instruments Team”), which submitted its recommendations in 2007. He also coordinated the committee on Methods to Minimize Financial Market Deceptions (“the Hauser 2 Committee”), which submitted its recommendations in 2005. He was a member of the committee for Promotion of Investments in Publicly Traded R&D Companies, and a member of the committee for Improving TASE Trading Efficiency and Liquidity. Shurki, a licensed CPA, has a BA degree in economics and accounting and an MA degree in economics, both from the Hebrew University of Jerusalem. Between 2008 and 2013, he was an adjunct lecturer on financing and financial markets in the MBA program of the School of Business Administration, Ben Gurion University of the Negev. Academic publications as an ISA employee: Hauser S.,Levy H.K.,Pilo B. and I. Shurki, "The Effect of Trading Halts on the Efficiency of Price Discovery", Journal of Financial Services Research,29 , 2006, 83-99. Eldor R.,Hauser S.,Pilo B. and I. Shurki, "The Contribution of Market Makers To the speed of Options Trading in Electronic Exchange", Journal of Banking and Finance,30 , 2006, 2025-2040. Hauser S., Kamara A., and I. Shurki, "The Effects of Randomizing the Opening Time on the Performance of The Stock Market Under Stress", Journal of Financial Markets, 15, 2012, 392-415. |
Ms. Judith Tirosh-Gross, Adv. – Director of the ISA Securities Department in the Tel Aviv District Attorney’s Office
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Ms.Tirosh-Gross Joined the ISA in 2001, working as an attorney in the Securities Department of the Tel Aviv District Attorney's Office for economic crimes. During the years of 2009-2017, served as the Deputy Director of the Department. At 2018, appointed General Director of the Securities Department. As part of her current position, serves as the head of the litigation team and takes a leading role in large and complex financial criminal cases involving securities violations, fraud, bribery and money laundering. Takes a leading role in major cases brought before the Supreme Court. Prior to joining the ISA, Judith worked as a lawyer at a leading Tel Aviv criminal law firm ,Yehuda Weinstein law firm (former Attorney general). Ms. Tirosh-Gross holds an LLB and an LLM degree in law from Bar Ilan University. |
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