The Board of Directors of the Tel Aviv Stock Exchange recently approved the inclusion of Barclays for Tel Aviv Stock Exchange (TASE) membership, bringing the number of foreign TASE members to six.
Earlier, Barclays received the Bank of Israel’s approval to operate in Israel as a foreign bank.
“Membership in the Tel Aviv Stock Exchange constitutes a badge of honor for us as a leading investment group in Israel. This decision enables Barclays to enhance the array of services it renders to the State of Israel, its economy and its citizens. In this manner, the bank will take another step towards its goal of becoming a leading investment force in Israel,” said Len Rosen, CEO of Barclays Capital, the group’s investment banking division.
Barclays, headquartered in the UK, has branches and representative offices in 50 countries. It is already traded on the London Stock Exchange and the New York Stock Exchange.
“We welcome Barclays as TASE’s newest international member. Its membership constitutes an important vote of confidence in Israel’s economy and capital market from a leader in international financial market services,” said Ester Levanon, TASE CEO. “Barclays’ membership is certain to increase the exposure of Israel’s capital market among international investors and will facilitate access of its global customer base to the Tel Aviv Stock Exchange.”
The other five foreign banks and investment houses with TASE memberships are UBS, HSBC, Deutsche Bank, Citibank and Merril Lynch International.