Avi Fischer

Chairman of the Board

With almost thirty-five years of history in some of Israel’s largest transactions, Mr. Avi Fischer is one of the most experienced and well-known figures in Israel’s business world.

Following the acquisition of Clal Industries by Access in July 2012, Mr. Fischer was nominated as Chairman of the Board and CEO of Clal Industries.

Mr. Fischer serves also as Chairman of Nesher Cement Enterprises, Chairman of Clal Biotechnology and Chairman of ClalTech. In addition, Mr. Fischer serves as a director on the Board of Golf & Co (TASE).

Prior to his involvement in Clal Industries, Mr. Fischer was a co-founder of Fischer Behar Chen Well Orion & Co., one of Israel’s leading law firms.

Mr. Fischer is a Lieutenant Colonel (res.) in the armored corps of the IDF. Mr. Fischer earned his LLB from the Tel Aviv University and was a faculty member at the Tel Aviv University Law School from 1983 to 1989.

Mr. Fischer is involved in numerous philanthropic organizations. Among others, he serves as Chairman of “Matan – Investing in the Community”, President of “Adopt a Battalion”, member of the Board of Directors of The Israeli Democracy Institute, etc.

Menashe Sagiv

CEO of Clal Real Estate

He also serves on board positions on behalf of the group at both public and private companies such as Nesher Cement Enterprises, Clal Industries & Beverages and Jafora.

Before his appointment as the Company’s CFO, Mr. Sagiv served as CFO of Africa Israel Residences Investments, one of Israel’s largest business groups, which consists of both publicly-traded companies (Africa Israel Properties Ltd., Africa Israel Residences Ltd., Africa Israel Industries Ltd.) and privately-held firms (Danya-Cebus, Africa Israel Hotels, Derech Eretz, and others).

Prior to his appointment in Africa Israel Residences, Mr. Sagiv served as the CFO of Israel Aerospace Industries (IAI). During his tenure, and for the first time in the company’s history, he led IAI’s successful NIS 1.5 billion marketable debt offering on the Tel Aviv Stock Exchange, including the preparation of the prospectus.

Mr. Sagiv served on board positions at IAI’s subsidiaries: Elta Systems, ISI and IAI International (COB).

Mr. Sagiv holds an MBA in Finance and a B.Sc. in Economics from Bar Ilan University.

Nufar Malovani


Ms. Malovani, Adv. serves as VP M&A, General Counsel, and Corporate Secretary of Clal Industries. She also serves as Head of Human Resources.

In addition, Ms. Malovani serves on board positions on behalf of the group at both public and private companies such as Golf & Co, Clal Investments and Beverages, CBI, and others. She is the CEO of Clal Beverages and is the former Chairwoman of the Board of Directors of Adika Style.

Ms. Malovani joined Clal in 2008 and today leads Clal’s legal activities and is responsible for the Group’s Merger & Acquisitions as well as legal aspects of new investments. In addition, she manages the communication with the legal departments of Clal’s portfolio companies and the parent company – Access Industries.

Prior to joining Clal, Ms. Malovani worked as a legal advisor at U Bank. Ms. Malovani also worked as a lawyer in the offices of Goldfarb, Levi, Eran & Partners.

Ms. Malovani served as an officer in the Israel Defense Forces.

Ms. Malovani has a law degree (LLB) and a BA in Accounting from Tel Aviv University. She is a graduate of the Harvard Executive Program.

Alon Heller

Head of Treasury & Financing of Clal Real Estate

Mr. Heller serves as Head of Treasury and Financing of Clal Industries and Clal Real Estate.

In addition, Mr. Heller serves on board positions on behalf of the group at public companies: Clal Industries & Beverages and Plasto-Cargal.

Until 2013, prior to his current position, Mr. Heller served as the Treasurer of IDB Development, which was the leading holding company in Israel.

Mr. Heller holds extensive experience in managing large-scale debt positions, including debenture offerings, credit facilities, and capital raising.