Ronit Harril Bin Zev is CEO of S& P Global Ratings Maalot – the Israeli branch of the International Code of Charity. She is married and has seven children.
Childhood and family: She was born in Haifa for a family of lawyers. My parents were lawyers and my grandfather was a local judge in Haifa. At a relatively early age, we moved to Herzelly in the center of the country, when my father was appointed as a legal advisor to one of the main banks. No, my brother, a doctor, nor continued to imitate the family.
Economy or aesthetics: Since childhood, I was exposed to the economy of the economy in general and the capital market in particular, because my father was the legal advisor to the bank's opponent. But I dreamed of a profession in the fields more related to beauty, especially architecture.
First participation in the stock market: During the Yom Kippur War, when I was 14 years old, schools were closed and worked to work on the Tel Aviv Exchange. I quickly fell in love with the dynamics of commercial floors. I went back to work on the stock exchange for a few months, at the age of 17, after graduating from high school.
Army and studiesI started at the Army Center for Computing and Information Systems and then moved to the administration of the office of the deputy head of the workforce in the IDF. It was a very interesting service. After getting out of the exit, I studied for a certificate in economics and business administration at Tel Aviv University.
Back to the stock exchange for the third time: After graduation, she became a full -time employee on the Tel Aviv Stock Exchange. It has been a very useful workplace for me, for more than 20 years. About 15 years ago, she worked as the position of First Vice President, Director of Economic Administration. The stock exchange was very different. I think everyone who has worked there has a positive memory of the magic of commercial floors, dynamics, noise, hustle and bustle.
From the commercial floor to the computer: Without a doubt, the transition to computerized trading systems was one of the most important changes, which improved the speed of transactions, enabling increased activity and increasing investors' access to the capital market – but there was also an emotional element in closing the floors.
S & P Maalot: I had one of his deep and documentary acquaintances with the capital market in all its aspects, and it was only natural for me to want to diversify and apply to the position of CEO. So when S&P approached me, this was very appropriate for me, partly because it is a global company, one of the most important entities in global and local economic activity.
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About the company: Maalot was established more than 35 years ago in the Israel Stock Authority initiative, banks and other stock members and was the first classification company in Israel. In 2008, it was obtained by the world's largest S&P classification company, and since then it was an integral part of the International Classification Company S & PLOBAL RORTINGS, which is about 46 trillion dollars and operates in 128 countries.
Economy case: The latest data on Israel's economic performance in 2024 is a little more positive than expected, in part due to the fact that the government injects large sums of money to stimulate economic activity. However, expectations for 2025 are for low growth compared to capabilities, and the deficit and debt rate to GDP is still high. Although geopolitical uncertainty, which shrinks, the bottom line is that even after a two classification is reduced, Israel's view remains negative and reflects relatively high risks.
Real estate deals: Marketing campaigns, such as 80-20 (20 % of shares now and 80 % on the occupation upon completion of construction), reflect a large financial value, which does not necessarily reflect in the housing price index. We believe that the benefits that are not priced at the sale price are reflected in the slower cash flow and corporate profitability. The continuous deficiency in the workforce and the increase in the cost of raw materials and construction products increases the pressure on profitability. In general, the risk of industry increased with the outbreak of war. In the context of financing agreements, we see a great commitment by mortgage holders to counter payment over the years. Currently, in the primary scenario, the unemployment rate remains low and the economy returns to the growth path. We do not see the risk of severe developments.
A minority of women:Women have always been managed. I am the third CEO. Although I personally did not test the glass ceiling, I was discriminated against women at work and job. The most surprising example is a few women in the main positions in the capital market and in the central financial institutions. Nearly a decade ago, there were executive managers for large banks (Limen, the opponent and the first international), the governor of the Bank of Israel, the supervisor of the banks, the head of the Securities Authority, the supervisor of the capital market, the general manager of the Ministry of Finance, today all these positions are full of men. It is clear to me that this is not a coincidence and may be part of a wider process.
Looking at the future: Dramatic development in artificial intelligence will have a major impact on the capital market. This revolution will require many adjustments, which are difficult to see the full range, and I hope to be part of it. On a personal level, I look forward to expanding my activities in the third sector fields.
It was published by Globes, Israel Business News – En.globes.co.il – on March 3, 2025.
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