At a Glance
Leumi "has potential"
"Never heard of them"
About Bank Leumi
Loans, not handouts
The Bank Leumi story began in 1902 as part of a Jewish repatriation effort. The bank’s founder, Dr. Theodore Herzl, established the Anglo Palestine Company in London; as he explained at the time, “Jewish settlers in the Land of Israel do not need charity, but rather bank loans.” Herzl believed that a Jewish state could not survive without a robust industrial and financial infrastructure, and, over the years, the institution that became Bank Leumi has played a major role in Israel’s development.
Today, Bank Leumi is the biggest bank in Israel by market share, and the Leumi Group includes some 300 branches in Israel and 20 countries around the world. At the group level, services are divided into four business lines: middle-market commercial banking, corporate banking, private banking and retail banking.
Bank Leumi USA is one of Leumi Group’s nine international banking subsidiaries. Based in New York, it also has operations in California, Florida and Illinois.
New York roots
Bank Leumi USA was established in New York City in 1954, and for the first two decades of its existence, expansion was confined to the five boroughs. After changing its name to Bank Leumi Trust Company of New York in 1973, the subsidiary opened additional branches in Manhattan and Queens, as well as a foreign exchange facility at Kennedy International Airport.
In 1975, the bank made its way to Chicago and opened a branch in Beverly Hills, Calif. A 1976 acquisition deal with American Bank & Trust Company added five more branches, and in later years Leumi unveiled locations in Long Island, Florida and offshore centers in the Bahamas and the Cayman Islands. Bank Leumi USA’s nationwide presence ballooned in the 1980s with the launch of a dozen more branches, a leasing corporation and an international banking facility.
A slimdown began in the 1990s, as Leumi sold off its retail branches concentrate on core commercial, private and international banking businesses. Its name went on a diet, too: the Bank Leumi Trust Company of New York became Bank Leumi USA (occasionally abbreviated BLUSA) in 1997.
A brokerage is born
In recent years, Bank Leumi USA has moved into the brokerage business with the 2001 debut of Leumi Investment Services, Inc., a wholly owned subsidiary that provides financial planning, insurance programs, investment plans and services, equities, bonds, mutual funds, annuities and hedge fund products.
As an FDIC-insured, full-service bank, Leumi USA provides a complete range of international, commercial and private banking services to middle market businesses, multinationals, nonprofits and high-net-worth individuals. One of Leumi’s prime niches in the U.S. is its ability to serve as an intermediary for American companies and individuals with investments in Israel.
579 5th Avenue
New York, NY 10017
Phone: (917) 542-2343
Employer Type: Public
President, CEO & Director: Uzi Rosen
2010 Employees (All Locations): 447