Jacob Valero (1813–1874) was the founder of the first private bank in Palestine, Jacob Valero & Company. In 1839, Jacob (Ya'akov) Valero appeared in Jewish communal records as a ritual slaughterer of the Sephardi community in Jerusalem. In 1849, he was described as a "talmid hakham" (scholar). In 1835, his profession was listed as "moneychanger." He opened his bank in 1848 in the Old City of Jerusalem and managed it until his death. The Valero Bank financed the building of a railway from Jaffa to Jerusalem.
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