JERUSALEM, Aug 25 (Reuters) - Israel Discount Bank's board on Wednesday nominated Reuven Spiegel as chief executive officer to replace outgoing CEO Giora Offer.
Spiegel, 53, has been serving as president and CEO of Discount's U.S. unit, IDB New York, since February 2006.
Discount, Israel's third largest bank, said in a statement that approval is needed by the Bank of Israel's supervisor of banks and that a start date had not yet been set.
"I am convinced that with a joint partnership between management and workers we can meet the challenges ahead of us and lead Discount to new heights for the benefit of the bank, customers, workers and shareholders," Chairman Joseph Bachar said.
Offer last month said he would step down when his contract expires at the end of January 2011.
A month ago, Swiss bank UBS bought an 8.33 percent stake in Discount and then placed the shares with clients.
Israel's government still holds 11.67 percent of the bank.
The Bronfman-Schron group, led by U.S. businessman Matthew Bronfman controls Discount with a 26 percent stake. (Reporting by Steven Scheer; Editing by Jon Loades-Carter)