JERUSALEM (JTA) — Leo Leiderman, an Israeli economics professor, was nominated to be the Bank of Israel governor.

The nomination Wednesday by Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid came two days after Jacob Frenkel withdrew his candidacy over accusations that he shoplifted at a duty-free shop in Hong Kong.

Leiderman, a professor at Tel Aviv University and former head of its school of economics, is the chief economist for Bank Hapoalim and the former head of the Bank of Israel Research Department, where he worked under Frenkel. He received his doctorate in economics from the University of Chicago.

If his appointment is approved by the Appointments Advisory Committee, Leiderman would succeed Stanley Fischer, who stepped down last month.

Leiderman, an Argentina native, immigrated to Israel at 17.