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Israel central bank chief quits to be with family

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January 30, 2013 07:51 AM EST | AP


JERUSALEM — The governor of Israel's central bank says he's stepping down to be closer to his family in the United States.

Stanley Fischer told reporters on Wednesday – a day after he resigned – that after eight years on the job he's achieved most of his goals. He says he is leaving behind a strong central bank and a strong economy.

Fischer is a former top executive at the World Bank and the International Monetary Fund. He is widely credited with steering the Israel's economy safely through years of world financial turmoil.

His departure comes two years before the end of his second five-year term. The 69-year-old says he has no other job waiting.

Fischer and his wife will return to the U.S. to be closer to their children and grandchildren.