The election of Robert Szold as c### the Board of Directors of the Union Bank of Israel, Ltd., the third Iarge### the new state, was announced today following a meeting of the board of ### Bank in New York. Sir Henry J. d’Avigdor Goldsmid, of London, was deputy chairman of the Board.
Mr. Szold, who is also chairman of the Board of the Palestine Ec### poration, succeeds the later Sir Robert Waley Cohen as chairman of ### Bank. Bernard N. Waley-Cohen, son of Sir Robert, is vice-chairman The Palestine Economic Corporation and the Palestine Corporation L### each have a 50 percent interest in the Union Bank.
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