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Interviewer: I'm Neil Bradman.
And today, I'm in New York speaking to
Mr. Avner Mendelson for the Business and Management Collection.
Mr. Mendelson is President and CEO of Bank Leumi, USA.
We're going to be talking about positioning
an overseas bank to do business in the United States.
Mr. Mendelson: Hello Mr. Bradman.
Interviewer: Thank you very much for sparing us the time.
To provide some context,
can you explain what does this bank do,
and how does it fit in with the overall group?
Mr. Mendelson: Excellent. So, this bank is a commercial middle market bank in the US.
It's a local bank with its own board,
which is under a holding company here in the US,
which is a 100 percent owned by the Bank Leumi group out of Israel.
The bank has about six billion dollars of assets.
It has today five offices, regional offices.
New York is headquarter.
We have offices in South Florida in Miami,
an office in LA, an office in Palo Alto,
and an office in Chicago.
The bank serves two main business communities: middle market companies,
which we define as companies generally with revenues between $10 million and,
I would say $300 million,
as well as high-net-worth individuals,
people usually with liquid assets of one to $10 million of investable assets,
which we helped them basically manage their money and provide private banking services.
These are the two pillars of the business today.