FNG has learned that Israel based online trading group Plus500 (LON:PLUS) has made a change in the C-Suite of its ASIC licensed subsidiary in Australia, hiring Nick Scarf as CEO of Plus500AU Pty Ltd.
Nick replaces Sean Murphy in the role as CEO of Plus500 Australia. Sean had led Plus500’s Australia business since 2015.
Nick Scarf joins Plus500 from institutional broker and market making firm Marex Group plc (NASDAQ:MRX), where he was COO of Marex’s Australia and New Zealand business. Before joining Marex in 2020, Nick previously worked at Genesis Proprietary Trading, Epoch Capital, SocGen (via Newedge Singapore), MF Global, TransMarket Group, and Merrill Lynch.
Australia accounted for about 7% of Plus500’s global revenues in 2024, although at $51.4 million they were slightly down from $52.4 million the previous year (and down by 24% from $67.2 million in 2022). From Plus500’s 2024 annual report:
