Plus500 Appoints Nick Scarf as CEO of Australian Subsidiary

Israel-based online trading group Plus500 has announced a change in the leadership team of its Australian subsidiary, which is licensed by the Australian Securities and Investments Commission (ASIC). The company has hired Nick Scarf as the new Chief Executive Officer of Plus500AU Pty Ltd.

Nick Scarf takes over the role of CEO of Plus500 Australia from Sean Murphy, who had led Plus500's business in Australia since 2015. Mr. Scarf joins Plus500 from institutional broker and market making firm Marex Group, where he served as the Chief Operating Officer for Marex's Australia and New Zealand business.

Before his tenure at Marex, which began in 2020, Nick Scarf's prior experience in the financial industry included roles at various firms such as Genesis Proprietary Trading, Epoch Capital, SocGen (via Newedge Singapore), MF Global, TransMarket Group, and Merrill Lynch.

According to Plus500's figures, Australia accounted for approximately 7% of the company's global revenues in 2024. Revenue from the Australian market stood at $51.4 million in 2024, a slight decrease from $52.4 million reported in the previous year (2023). The 2024 figure also represents a larger decrease of 24% from the $67.2 million in Australian revenue reported in 2022.