A Multifaceted, Shining Example

When he was just three years old, his father, who had been a reluctant entrant into the diamond industry a decade earlier, set up his own diamond company in partnership with another diamantaire. This was the precursor to M. Schnitzer & Co. which was formed several years later. As the business grew, so did young Shmuel – surrounded by diamantaires and diamond talk. For, Moshe Schnitzer, his father, was not just another businessman but a thinker and a leader, who had written books, edited a diamond industry journal and founded industry organisations, including the Israel Diamond Exchange, of which he was President for several years. Moshe Schnitzer also went on to become the President of the World Federation of Diamond Bourses, a position he held for several years.

Growing up amidst exciting and dynamic surroundings, Shmuel always knew that he would one day become a diamantaire and join the family business. It seemed like a natural corollary. “Growing up in a diamond family, I would say, is a little different,” Shmuel says with a laugh. “The diamond industry is like a disease – like a germ. Once it gets into your bloodstream, you are fully consumed by it!” However, on a serious note he adds, “On the positive side, all day there was talk about diamonds and the industry. And I knew I would be part of it some day. There was no question mark about it. It was also a great learning process.”

The road to Ramat Gan was not a straight and narrow path from home to office for Shmuel, however. On the way there, he went off the beaten track for a while to go to the university and attain a law degree. “Yes, I am actually a lawyer by profession,” he says. “I even practiced law from 1975 to 1977, and till today I carry my law certificate in my pocket.”

In response to our surprised questioning of this move he says, “I liked to study, and at the time I thought if I don’t do it now, I’ll never do it.”

Though he pursued his dream of studying, the diamond world was never too far from his consciousness. “From the second year of my university life, I began to work in our diamond factories,” he says. “There I learnt every process from the start. Nobody made any concessions for me because I was the son of the boss. And I am very happy about that early education in the diamond industry. I learnt everything hands-on, from sorting – and mind you at that time we worked in melee – gemmology, about the manufacturing process, everything.”

In the course of time, Shmuel finished his education, the period of his practice as a lawyer and went full steam ahead in the diamond business. Extremely dynamic by nature, it did not take Shmuel very long to begin making his own impact on the company. “My biggest contribution to the business was to push the manufacturing aspect,” he says on an analytic note. “Also, for a long time, we were manufacturing only small goods. After I joined the management, we moved to manufacturing three carat stones in the rough; and also really big stones.”

The concentration on manufacturing rose out of a belief that it was no longer sufficient to merely deal in diamonds and that a strong manufacturing base would be one of the key factors of growth and development, that gave the company a certain depth. On the other hand, by moving into the processing of larger sizes, gave the company the necessary breadth. “The variety we were able to offer our clients changed dramatically,” says Shmuel looking back.

Continuing to glance at the years gone by, he adds, “Another move I initiated was to open offices in different centres. I always believed that there was a great need for strong marketing efforts.”

His contribution made a strong company only stronger and M. Schnitzer took its place amongst the leading manufacturer exporters of Israel, even holding the numero uno position at one time.

Last year, after a parting ways with his brother-in law, an erstwhile partner in M. Schnitzer & Co., Shmuel formed S. Schnitzer & Co. Today, S. Schnitzer has offices in Israel, New York, Hong Kong and Shanghai, and has already become a strong manufacturer-exporter of repute.

For Shmuel, his company spreading its wings meant a great deal of moving himself. “I travelled constantly,” says Shmuel. “And it is not just to trade, but also to open or develop new markets for the company. It is push, push, push all the time. We are never invested in only one market at any given time, but are spread in several markets. That is because I believe that economies are cyclical and if you work with some markets with full speed at one time, you have to be ready for times, when it will become weaker..”

Shmuel’s skills at strategising and his leadership qualities, fortunately, were not limited to the confines of his company and own business. A chip of the old block, he naturally and effortlessly followed his father’s footsteps into the public domain and came under the spotlight when he became President of the Israel Diamond Exchange (IDE).

After he joined the Executive Committee of IsDMA, he quickly rose to become chairman of the Legal Committee, and the Young Manufacturers Committee, and the Vice Chairman of the Finance Committee.

After his father became President of the World Federation of Diamond Bourses (WFDB), Shmuel became active in the Israel Diamond Exchange, of which he eventually became President. Prior to that, he served as Vice-President, and Chairman of both, the Industry and Export Committee and the Legal Committee. Shmuel has also been a member of the Boards of Israel Diamond Institute and the Israel Gemological Institute. He is also chairman of the board of directors of the Harry Oppenheimer Diamond Museum, set up by his father.

At the turn of the century and the millennium, in the year 2000, Shmuel stood on the threshold of the pinnacle of his public life when he was elected Vice President of the WFDB, as well as Vice Chairman of the World Diamond Council. By 2002, he reached the top position when he became President of WFDB; which position he held for two two- year terms. In 2006, he was named Honorary Lifetime President of the WFDB, while he continues to hold his position in the WDC to date.

As a leader of these organisations, he devoted a large part of his time and energy to solve the issue of conflict diamonds.

Apart from these industry bodies, Shmuel’s love for education has spurred him to take a keen interest in many educational institutions, including those set up by his family trust. He is a member of the Schnitzer Foundation for Research of the Israel Economy and Society, Bar Ilan University, Tel Aviv, and a member of the International Board of Trustees of the Shenkar School of Fashion and Design in Ramat Gan.

We wonder what it must be like to be the son of a legendary man, and to be involved in the public domain almost simultaneously? It must be a tight rope walk to be able to emerge as your own person, as well as keep tensions at bay, and be a dutiful son.

“It was my luck to have a father like mine,” he says simply. “Everything I know about diamonds and life, I learnt from him. The greatest thing I learn from him, I suppose was to keep things in proportion and perspective. For example, my father was well-acquainted with the likes of former Prime Minister Menachem Begin, PM Benjamin Netanyahu and many other ministers and top ranking luminaries. However, his manner to an ordinary member of the bourse, was no different from that to celebrities. He was the same with all.”

If you thought that a thriving business empire and a full agenda of public life was enough to keep anyone occupied and busy 24 x7, think again. For, apart from all these diamond industry related activities, Shmuel is an ardent football fan. He not only played the game as a young man while in school and University, today he has a football team which he follows closely. “I love football,” he says animatedly.. “I travel with the team whenever I can when they play matches all around the country. I even attend practice sometimes!”

And wait, there is something more in Shmuel’s life. Something infinitely precious and that beats his passion for diamonds and football – his wife and family. “Being with my family is my greatest relaxation,” he says. “We are a very close-knit family and we all also live in close proximity to each other.” He met his wife Sharona, who today manages a citrus fruit export business, while in University. They have three children - two sons, Shai and Ben; and a daughter, Shani.

Shai is yet another chip of the old block, already in the diamond business and taking his first steps in the public life of the industry – “He is now in the Young Manufacturers Committee,” says Shmuel proudly. Ben, who is still studying, “may or may not join” the industry” Shmuel says without a trace of the heavy-handed father about him. He is equally proud of his second son’s prowess, albeit in other directions – “he is interested in hi-tech start-ups”. His paternal pride is also evident when he talks about his daughter Shani, who is “in charge of the marketing and branding activities of the company.”

Shmuel also loves watching TV and reading books and newspapers. “I read all the papers every day,” he says. “Then, I also travel a lot around the world.” Now, after forty years of a full working life, Shmuel is a contended man. “When I look back at thing I can modestly say that I am satisfied,” he says. “I did the things that I wanted. Nobody made me do them. I looked forward to coming to office every day, and till today that excitement for the business holds. Even today, I like to sort diamonds. After 40 years this is the great thing. My hobby is my profession. That ultimately is the winning formula – do whatever you like to do.”

That ultimately is the elixir of life, which not everyone can find. And the ones that do are blessed indeed.