Appointment
Michal Kissos Hertzog appointed CEO of Discount Capital
Kissos Hertzog, who has headed Poalim Tech for the past five years and previously led the digital bank Pepper, will assume her position in September, replacing Hila Himi, who announced she would step down after 11 years in the role.
The board of directors of Discount Capital, the investment and investment banking arm of the Discount Group, has appointed Michal Kissos Hertzog as the company's next CEO. She is set to assume the role in September.
Kissos Hertzog, 46, will replace outgoing CEO Hila Himi, who announced in February that she would step down after 11 years with the company.
Kissos Hertzog joins Discount Capital after serving since 2021 as CEO of Poalim Tech, Bank Hapoalim’s technology and innovation arm. In that role, she managed the bank’s relationships and activities with venture capital funds, startups, and growth-stage technology companies, helping expand the unit’s presence and influence in Israel’s tech ecosystem.
Prior to Poalim Tech, she served as CEO of Pepper, the digital banking platform of the Leumi Group.
Kissos Hertzog holds bachelor's degrees in law and economics from Tel Aviv University and an MBA from Reichman University.
Discount Capital operates across a range of activities in Israel’s capital markets, including direct investments in companies, private equity and venture capital funds, as well as underwriting, distribution, and support for public and private offerings through its subsidiary, Discount Capital Underwriting.
The investment arm has recorded significant growth in recent years. It ended 2025 with a net profit of NIS 388 million, representing a 25% increase compared with the previous year. One of Kissos Hertzog’s key challenges will be sustaining that growth trajectory while diversifying the firm’s investment portfolio amid evolving market conditions.
Himi’s departure follows a period that included the sale of credit card company Cal to businessman George Horesh and insurance company Harel in a deal valued at NIS 3.9 billion.
As previously revealed by Calcalist, Himi is expected to establish an independent investment fund, with Discount serving as the anchor investor. The fund is expected to raise approximately $400 million.
