Joseph J. Bach, president of the National Safety Bank and Trust Company for two years and identified with banking circles for a quarter of a century has resigned his office and is severing his connections in this country preparatory to taking up permanent residence in Palestine.
In a statement made yesterday to the Jewish Telegraphic Agency, Mr. Bach stated that he is planning to go to Palestine in November and will take his entire family with him.
Although not a Zionist and never identified with the Zionist movement, Mr. Bach explained his reasons for going to Palestine on the ground that he is a Jew and that Palestine is the only place in the world he could choose to spend the rest of his life. He is fifty-eight years old.
He sees in Palestine, moreover, business opportunities which far exceed those in this country, and the possibility that he will enter business in Palestine is not precluded, he said.
In the past seven years he has visited Palestine four times and each time has been profoundly impressed with the marked improvement and progressive development visible. In 1929 he planned to settle in Palestine but was deterred by the Arab outbreak against the Jews.
Mr. Bach organized the Public National Bank in 1907 and served as its managing vice president until 1930. He has been identified with hospital work in this city.
He was born in Germany and came to this country at the age of seven.