(JNS.org) Prime Minister Benjamin Netanyahu announced Sunday that former Bank of Israel Governor Prof. Jacob Frenkel, who headed the central bank between 1991 and 2000, will replace outgoing Bank of Israel Governor Stanley Fischer, whose term will end next week, Israel Hayom reported. Frenkel, 70, a laureate of the 2002 Israel Prize in Economics, currently serves as chairman of JPMorgan Chase International, one of the three largest banks in the United States. He is expected to take office in mid-July.