Erdan takes stand against ICL appointment

Minister of environmental protection asks deputy finance minister, commissioner of capital markets to urgently consider imposing cooling-off law on investment houses' officials after Psagot analyst becomes Israel Chemical's head of investor relations

Ron Granot, Calcalist|Published: 07.12.11 , 17:09

Just 10 days ago, Psagot Investment House analyst and head of research Limor Gruber, 36, published a complimenting review of Israel Chemicals, with a buy recommendation at a target price that was 33% higher then the share's market value.

"There is indeed potential for additional upward adjustment of the target price," Gruber noted in her review. And lo and behold, on Monday Gruber announced that she is leaving Psagot to become ICL's head of investor relations.

"I have always based my work on purely professional considerations to the satisfaction of my employers and the company's customers over the years," commented Gruber on Monday, clarifying that "since receiving the offer I have not published any reviews on ICL".

Nonetheless, since her appointment Monday, Minister of Environmental Protection Gilad Erdan asked Deputy Minister of Finance Yitzhak Cohen and the Commissioner of Capital Markets Oded Sarig to urgently consider imposing the cooling-off law which applies to executives of investment houses that manage public funds.

So far, no response has been available from Gruber and ICL.

Gruber, by the way, is rather experienced when it comes to facing an audience; in the 1990s she studied acting and even preformed in several fringe productions, a handful of advertisements and one TV series.

Later on, she decided to study business administration at the Tel Aviv-Yaffo Academic College. In recent years Gruber has been a financial commentator on various TV programs.