The Development Corporation for Israel (DCI) last week welcomed Steven A. Cohen as the new executive director of Israel Bonds in Maryland. Cohen’s appointment follows the retirement of Alan S. Dorenfeld in March.
“Steven has been a dedicated supporter of Israel and Jewish causes for many years, and we are pleased to welcome him to the Bonds organization,” Israel Maimon, president and CEO of Israel Bonds, said in a news release. “Steven joins us following a successful career in the banking and legal professions, a combination of skill sets that uniquely position him to help Israel Bonds Maryland reach impressive new heights.”
Prior to joining Israel Bonds, Cohen served as president of Hopkins Federal Savings Bank in Baltimore, where he helped launch a High Holiday matching program with Israel Bonds through which the bank matched 50 percent of all bonds purchased in the Baltimore community during Rosh Hashanah and Yom Kippur.
The program was later expanded through a collaboration with The Associated: Jewish Community Federation of Baltimore, the Haron Dahan Foundation and the Sandra and Malcolm Berman Charitable Foundation to provide a 100 percent match. More than 2,000 people participate in the High Holiday matching program annually, and since the program’s inception in 2004, it has generated more than $90 million in Israel Bond investments.
“When I learned this position was going to become available, it struck me as fantastic,” Cohen said. “Israel Bonds involves the world of finance, and the beneficiary is the state of Israel, so it allows me to combine my two passions through professional experience. Israel Bonds raise funds in support of Israel, and the amount purchased each year is about a billion dollars. It is fantastic that our relatively small Baltimore community is one of the most heavily invested anywhere in supporting Israel. We are very proud of that.”
In his new role, Cohen hopes to sell more individual bonds as well as involve more institutions in purchases.