Bank Leumi is the U.S. arm of the Leumi Group, the oldest and most storied banking company in Israel.
“Leumi” means “National” in Hebrew, and the Leumi Group has played an integral role in Israel’s growth. It helped fund the development of metropolitan Tel Aviv and financed the building of Tel Aviv’s port, which now attracts over 4 million tourists a year. Leumi issued Israel’s first banknotes in 1948, funded the Cross-Israel Highway in 2001, and today provides banking services to more than 60 percent of Israeli tech, medical and other startups.
The Anglo-Palestine Company, which would eventually become the Leumi Group, was established in London in 1902, fulfilling Theodor Herzl’s ambition of a financial institution to support Jewish settlers in Palestine. In 1950, Bank Leumi le-Israel (The National Bank of Israel) registered in Tel Aviv, taking over the obligations and assets of the Anglo-Palestine Bank. For more than a century, the Leumi Group has been a driving force behind Israel’s economic and industrial development.
Leumi established its first U.S. presence in 1954. Today, Bank Leumi is a relationship-driven boutique bank that offers private and commercial banking services. Through the Leumi Group, we bring global expertise and experience to all of our valued client relationships. The Leumi Group serves as a gateway for investors and businesses in Israel and worldwide. When you work with us, these advantages become yours.
Bank Leumi History
1950s and 1960s
1954: Bank Leumi establishes its first U.S. presence, opening a representative office of Bank Leumi le-Israel at 60 Wall Street.
1968: The First Israel Bank and Trust Company of New York is formed, which will become Bank Leumi USA.
1969: First Israel Bank and Trust opens its second branch, at 1412 Broadway.
1971: First Israel opens its third location, at 579 Fifth Avenue. Today it’s the Bank Leumi USA headquarters.
1973: First Israel changes its name to Bank Leumi Trust Company of New York.
1977: Bank Leumi opens its first Long Island branch, in Hewlett, giving it 10 locations in the New York area, plus a foreign exchange facility in the El Al terminal at John F. Kennedy International Airport.
1978: Bank Leumi le-Israel now has branches in Chicago, Beverly Hills, Philadelphia and Miami.
1981: After acquiring 13 branches from the Bankers Trust Company and opening another new branch on Long Island, the U.S. bank boasts 25 locations in metropolitan New York, a representative office in Toronto, and offshore branches in the Bahamas and Cayman Islands.
198X: Bank Leumi of New York expands its services by launching a subsidiary, BLT Leasing Corporation, and establishing an international banking facility.
Early 1990s: The U.S. bank goes through a major reorganization, concentrating on international banking, commercial middle market banking and private banking. Nearly all the retail branches are sold.
1997: Bank Leumi Trust Company of New York becomes Bank Leumi USA and absorbs the Chicago and Los Angeles branches of Bank Leumi le-Israel.
2001: Bank Leumi launches Leumi Investment Services, a brokerage subsidiary, and opens a Silicon Valley branch in San Jose, California, to serve tech customers.
2002: Bank Leumi le-Israel’s Miami office becomes part of Bank Leumi USA. The bank also purchases the insured deposits of the former Net 1st National Bank in Boca Raton, Florida.
2003: The branch in Aventura, Florida, opens, and the San Jose branch moves to Palo Alto.
2004: After 15 years of service, Dr. Zalman Segal retires as CEO of Bank Leumi USA. Mr. Uzi Rosen takes over as President and CEO.
2010s to Present
2010: Mr. Uzi Rosen retires and Mr. Itzhak Eyal becomes President and CEO.
2013: Mr. Itzhak Eyal retires after a 38-year career with the Leumi Group. Mr. Avner Mendelson is named President and CEO of Bank Leumi USA.