Levy-Tsedek Joins IDB's L.A. Branch
Mordekhay “Moti” Levy-Tsedek has been named vice president and manager of the Israel Discount Bank’s downtown Los Angeles branch on Figueroa Street.
Levy-Tsedek replaces Vice President Kiyoun Kim, who set up the 1-year-old branch of the New York–based bank. Kim will return to her focus on IDB Bank’s commercial real estate lending activities.
Levy-Tsedek is a 20-year veteran of the banking industry who was previously with Bank Leumi in Israel and the United States, where he was first vice president and manager of Leumi’s California branches in Beverly Hills and Encino, Calif.
“We couldn’t be more pleased by Moti’s joining us to manage the new branch,” said Yoav Peled, senior vice president 1 and regional manager for California for IDB Bank, in a statement. “I’m confident he is the right person to help us achieve our goal of growing deposits, loans and private banking in the booming downtown area.”
In addition to the downtown branch, IDB Bank runs another full-service branch in Beverly Hills. The bank, whose total assets exceed $9 billion, is headquartered in Manhattan and maintains other full-service branches in New York and South Florida.
IDB Bank specialized in asset-based lending, commercial real estate lending, factoring and trade finance for middle-market companies, as well as private banking and leasing. —Alison A. Nieder
