FNG has learned that Israel-based Trading Group Plus500 (Lon: Plus) has made a change in ASIC’s C-Suite C-Suite licensed in Australia, hiring Nick Scarf as CEO of Plus500au Pty Ltd.
Nick replaces Sean Murphy in the role of Plus500 Australia Managing Director. Sean had driven Plus500’s Australia business from 2015.
Nick Scarf is involved in Plus500 by the institutional broker and the market made by Marex Group PLC (Nasdaq: MRX), where he was a COO of Australia’s business and New Zealand Marex. Before joining Marex in 2020, Nick previously worked at Genesis Proprietary Trading, Epoch Capital, SoCGen (via the Newedge Singapore), MF Global, Transmarket Group and Merrill Lynch.
Australia represented about 7% of Plus500’s worldwide revenue in 2024, although at $ 51.4 million it was slightly under $ 52.4 million last year (and below 24% from $ 67.2 million in 2022). From the annual report of Plus500 2024:
