CTalkEFG Wealth Management Israel CEO: “This is a country that is eternally optimistic”
CTalk
EFG Wealth Management Israel CEO: “This is a country that is eternally optimistic”
CEO of EFG Wealth Management Israel, Joseph Wolf, spoke to CTech at Calcalist’s 2024 Forecasts event about the resilience of the Israeli economy.
Joseph Wolf
(Credit: Tal Shahar)
“As someone who's participated in this market for many years now, with many different roles, I think that the resilience of this economy is probably one of the most important facets. It is a country that is eternally optimistic,” says Joseph Wolf, CEO of EFG Wealth Management Israel, speaking to CTech at Calcalist’s 2024 Forecasts event in Tel Aviv. EFG is the sixth largest private bank in Switzerland, managing $150 billion worth of assets. They opened their Israeli office in 2022 and in September, 2023 opened a financial services office.
“Our CEO was interviewed and the reporter asked him about the Tel Aviv office that they knew he had just opened, and he said when we make investments at EFG we do it with a look on the future, so there's no change to the strategy for investing. In fact, my boss said if you see good people in the market this is the time to hire,” said Wolf.
Regarding looking forward to the coming year, Wolf said “One of the big themes is obviously the move away from fossil fuels - Israel is great at solar. One of our themes for this year is undervalued currencies. We saw what happened to the shekel in 2022 and 2023, given first the judicial reform and then the war, and now you've seen the shekel really revert back to a level that some are saying is too far too fast.”
You can watch the full interview in the video above.
