Lena Krupalnik was named head of the management division at Citizens of Israel Fund, Israel's sovereign wealth fund, effective May 1.
The position is new, Ms. Krupalnik said via a LinkedIn message.
Ms. Krupalnik will be responsible for dealing with investment managers hired by the fund's investment committee and preparing financial reports, according to the Bank of Israel's website, which oversees the assets of the fund.
The objective of the 2.3 billion Israeli new shekel ($625 million) sovereign wealth fund is to invest the revenue from Israel's natural resources for the long term.
"Lena Krupalnik brings to the position significant knowledge in managing investments at institutional investors," said Amir Yaron, governor at the Bank of Israel, in a news release. "I am convinced that her rich experience and tremendous knowledge in these fields will enable her to manage the Citizens of Israel Fund's investments with insight and professionalism,"
A spokesman could not be immediately reached to provide further details.
Ms. Krupalnik was head of global investments at Menora Mivtachim Insurance. A spokesman could not be immediately reached to comment about her replacement.