Leon Yehuda Recanati

Leon Yehuda Recanati (1890-1945) was a Greek-born businessman and Jewish community leader who became a prominent banker and philanthropist in Mandatory Palestine.

Early life

Leon Yehuda Recanati was born in 1890 in Thessaloniki. He was a leader in Greece's Jewish community until he immigrated to British-controlled Mandatory Palestine in 1935. In 1936, he was elected as the representative of the Greek Jewish community to the World Jewish Congress.^[1]

Career

In 1935, Recanati established the Palestine Discount Bank in Tel Aviv; the institution would later become Israel Discount Bank. In his later years, he became involved in philanthropic endeavors and served as a member of the executive committee of the Society of Friends of the Hebrew University and was the founder and chairman of Banim L'Gvulam, which encouraged the settlement of Sephardic Jews in Palestine.^[2]

In 1985, Recanati was honored on an Israeli commemorative postage stamp.^[3]

Family

His sons, Daniel (1921-1984) and Raphael (1924-1999), established the IDB holding corporation, one of the largest investment companies in Israel with investments in industry, insurance, retail, communication and Bio-Tech. IDB Holding has been a significant investor in the Israel Discount Bank (until 1986), PEC Israel Economic Corporation, and Clal Israel.^[1] In May 2003, the third generation sold the control of IDBH and each of the members established his own investment activity.^[1] His grandson, Leon Recanati (born 1948, the son of Daniel) is the main benefactor of the Recanati Business School at Tel Aviv University.^[1]

References