New York, NY, Nov. 05, 2025 (GLOBE NEWSWIRE) — IDB Bank, a New York-based private and commercial bank, and largest Israeli-owned bank in the United States, has announced the appointment of Sagy Aseraf to the role of President of Private Banking and Wealth Management. This appointment marks a significant strategic leadership move under IDB Bank President & CEO Avner Mendelson and reflects a bold step in advancing the Bank’s transformation and long-term growth.
In this expanded role, Aseraf will lead the strategic roadmap for both IDB’s domestic and international private banking and wealth management businesses. He will oversee efforts to enhance the client experience, streamline and unify services across key markets, and deliver next-generation wealth management solutions to meet the evolving needs of the Bank’s diverse and growing clientele.
A seasoned banking leader with more than 25 years of global experience, Aseraf’s appointment signals a reimagination of IDB’s private banking and wealth management business to meet the evolving needs and expectations of the Bank’s growing global clientele. He will lead the unification of IDB’s private banking and wealth management segments across New York, Florida and California, as well as Latin America and Israel to drive aggressive growth milestones and enable seamless service delivery for both domestic and international clients.
Aseraf will additionally oversee the advancement of the Bank’s auxiliary segments IDB Lido Wealth LLC, a joint venture Registered Investment Advisor in partnership with Lido Advisors LLC, as well as IDB Capital, a subsidiary of IDB Bank and a full-service brokerage firm.
Aseraf joined IDB in 2016, serving as a member of the senior leadership team across several business-critical roles. In addition to his new responsibilities, he will continue to lead the Bank’s Southeast operations as IDB’s Florida Regional Manager. Aseraf will additionally retain his role as Head of the Bank’s Israeli business segments, where he leads international business segments including IDBTech and commercial banking for Israeli-based companies.
Beginning in 2000, he additionally held several notable roles with IDB’s Tel Aviv-based holding company, Discount Bank, Ltd., including Head of Private Banking, Head of Real Estate and Construction Division and more.
“Sagy’s appointment signals a significant strategic transformation of our organization, as we align all of our private banking and wealth management businesses under one vision and one roof, to deliver value in new ways for our clients in the United States and around the world. I’d like to congratulate Sagy on his new and well-deserved position, and I am excited for what’s ahead as we continue to gain momentum across our private banking and wealth management businesses.” – Avner Mendelson, IDB Bank President & CEO
Aseraf will continue to report to Avner Mendelson.
About Israel Discount Bank of New York (“IDBNY” or “IDB Bank”)
IDB Bank is a New-York State-chartered commercial bank, a member of the FDIC, and a subsidiary of Israel Discount Bank LTD., one of Israel’s leading Banks. In addition to its Manhattan headquarters, IDB Bank operates full-service offices in California, Florida and the tristate area, including branch locations in Brooklyn, N.Y, Staten Island, N.Y and Short Hills, N.J. The Bank provides a complete range of private banking and commercial banking services to U.S and international clients.