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September 15, 2020 6:08 am

Ex-Leumi CEO Russak-Aminoach to Head New Team8 Fintech Venture

avatar by Reuters and Algemeiner Staff

The Tel Aviv skyline at night. Photo: Gilad Avidan via Wikimedia Commons.

Israeli cyber group Team8 said on Tuesday it had hired former Bank Leumi chief executive Rakefet Russak-Aminoach to lead a new division that aims to develop financial technology companies.

Team8 Fintech aims to supply both businesses and consumers with new technologies “to ensure they stay relevant and gain a competitive advantage,” Team8 said.

It said it would also seek to create technology that will enable certain non-financial companies to become new fintech providers.

Team8, which has traditionally invested in cyber security companies, is a venture group backed with strategic funding from Microsoft, Walmart, Barclays and Moody’s.

Russak-Aminoach last October stepped down as CEO of Leumi, Israel‘s second-largest lender, after seven years in the post.

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