Yair Seroussi, who became Bank Hapoalim chairman in August this year replacing Dan Dankner, was elected on Thursday to serve as President of the Association of Banks in Israel, in an unanimous vote.

Seroussi will replace Dankner, the previous president who left as chairman of Bank Hapoalim, until May 2010, which marks the end of Dankner's tenure. The management board of the association decided unanimously to appoint Shlomo Zohar, CEO of Israel Discount Bank as Seroussi's successor.

Smadar Barber-Zadik, CEO of First International Bank, will continue to serve as deputy president of the association.