Jacob Frenkel to replace Fischer as Bank of Israel Governor
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Jacob A. Frenkel will be the new Bank of Israel Governor, after already holding the position from 1991-2000. Frenkel, 70, is currently the chairperson for JP Morgan Chase International, and his appoint came about despite Fischer's recommendation and support for his deputy, Karnit Flug.
Frankel has been the target of criticism during the last few years because he served as the vice president for AIG while the company collapsed in 2007. (Avital Lahav)
