Israel Discount Bank® (IDB), West Coast USA, has made its annual client reception the talk of the town.
Some 600 people got together for an impressive lavish cocktail party at the Beverly Hilton Hotel in Beverly Hills, California. They gathered under the Californian September splendor evening sky, hosted by Mr. Uri Levin, in a new position as President and CEO, Israel Discount Bank group. Mrs. Kiyoun Kim, EVP, IDB California Regional Manager, Gal Ben-Naim, SVP, Head of IDB CA Private Banking and Moti Levy-Tsedek, the Director of IDB CA Business Development who was behind all the efforts to put together this remarkable community gathering. In attendance was Hillel Newman Ph.D., Israel Consul General to Western USA. It was an impressive cocktail party where traditional food, representing several ethnic groups, an open bar and much mingling was the evening’s theme.
Though the intention of the annual reception was to simply celebrate the friendly banking relations IDB Bank® offers to its clients, seeing the large attendance one could not have missed the fact that today’s IDB Bank®, the largest Israeli bank in the United States, has become a genuine community bank that promotes economic prosperity between the two countries.
IDB proud of its history & growth
IDB Ltd, founded in 1935 by the late Mr. Leon Recanati, is one of the three largest commercial banks in Israel and one of the 300 largest banks in the world. IDB Ltd and its subsidiaries, with several thousand employees, have branches and representative offices’ network in Israel and abroad, also an extensive network of international correspondent banks.
In 1949, a year after the State of Israel declared its independence, IDB Ltd. began its operations in New York City, with one modest representative office. After the New York State banking law was changed to allow foreign banks to operate branches there, in 1962, IDB Ltd. became one of the first foreign banks to open a branch in New York City.
In 1967, after Israel Discount Bank Ltd. acquired the Hias Immigrant Bank, it changed its name to IDB Trust Company, an FDIC-insured institution. In 1980, the branch’s assets were transferred to the renamed, wholly-owned IDB Ltd. subsidiary, Israel Discount Bank of New York (“IDBNY”). IDBNY went on to take over a major portion of its Tel Aviv parent’s western hemisphere banking operations and subsequently, in March 2000, IDB Bank became a wholly-owned subsidiary of Discount Bancorp, Inc., a Delaware holding company it formed to hold its shares.
IDB Bank® staff are proud of the bank’s business approach. They listen to their clients’ needs, understand their business model and give them an unparalleled level of personal attention. The bank is proud of its clients, some have used their acquired business acumen to become leaders in their respective industries.
What the IDB annual client reception aims to achieve
With many different components of the community getting together, the results are bridging bridges. It means that Discount Bank (USA)’s annual reception is giving attention to the entire community.
Though Israel Discount Bank® (IDB) annually invites its clients and guests to partake and enjoy the best networking party in the city of Los Angeles, it is much more than that. It is about building familiarities and directing and forming best economic relations between the United States and the State of Israel.