Raphael Recanati
| Raphael Recanati | |
|---|---|
| Born | 1924 Salonika, Greece |
| Died | 1999 New York City, U.S. |
| Cause of death | heart failure |
| Residence |
Upper East Side, Manhattan, New York City, U.S. Herzliya, Tel Aviv District, Israel |
| Nationality | Israel & United States |
| Occupation | Businessman, banker, philanthropist |
| Spouse(s) | Dina Hettena |
| Children | 2 sons |
| Parent(s) | Leon Yehuda Recanati |
| Relatives | Leon Recanati (nephew) |
Raphael Recanati (1924–1999) was a Greek-born Israeli-American businessman, banker, and philanthropist. He was the founder and chairman of the Overseas Shipholding Group. He was the chairman of the Israel Discount Bank from 1982 to 1986. He made large donations to civic and education organizations in New York City and Israel.
Raphael Recanati was born in 1924 in Salonika, Greece, the son of Leon Yehuda Recanati, and of Italian and Spanish ancestry. He moved to Mandatory Palestine with his family in 1935, where he was educated. Meanwhile, his family founded the Israel Discount Bank in 1935.
Recanati served in the Palmach, when he helped bring Egyptian Jews into Palestine (modern-day Israel).
Recanati founded the Israel-America Shipping Line, later known as the Overseas Shipholding Group, in 1948. He served as its founding chairman. He subsequently served as the "chairman of its finance and development committee".
Recanati served as the Managing Director of his family bank, the Israeli Discount Bank, in 1965. By then, the bank had an office in New York City. By 1970, he founded its investment banking subsidiary. He subsequently co-founded two more subsidiaries, the Discount Investment Corporation and the PEC Israel Economic Corporation New York. He served as the chairman of the Israel Discount Bank from 1982 to 1986.
In 1986, Recanati was suspended by the Bank of Israel over his role in the . The suspension was recommended by its chairman, Michael Bruno, and twelve ministers. Meanwhile, he was tried and sentenced to an eight-year prison sentence in Jerusalem over allegations of fraud. However, he was acquitted on appeal.
Recanati subsequently founded a subsidiary of his family bank in New York City known as the Israel Discount Bank of New York.
Recanati was a large Jewish philanthropist in New York City and Israel.
In New York City, Recanati made large charitable contributions to the Beth Israel Medical Center, a hospital based in New York City where the Recanati Cardiology Research Fund and the Recanati/Horowitz Cardiology Diagnostic Research Fund are named in his honor. Additionally, he endowed the Recanati/Miller Transplantation Institute at Mount Sinai Hospital. Further donations went to the UJA-Federation of New York.
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