Plus500 has appointed Nick Scarf as Chief Executive Officer of its Australian operations.
Plus500 Hires Nick Scarf as CEO of Australian Entity
Scarf announced the move in a LinkedIn post, stating, “I’m happy to share that I’m starting a new position as Chief Executive Officer at Plus500 Australia!”
Though Plus500 has yet to formally confirm the appointment, reports state Scarf is expected to replace Sean Murphy, who led the Australian unit for the past 10 years.
Scarf brings over 30 years of experience in financial markets, most recently serving as Chief Operating Officer for Australia and New Zealand at Marex.
Prior to Marex’s acquisition of E D & F Man Capital Markets Australia in 2022, he held the COO role at that firm. He also led Genesis Proprietary Trading as CEO from 2015 to 2020 and has held senior positions at Newedge Singapore and MF Global.
The leadership change highlights the importance of the Australian market to Plus500, which generated $51.4 million in revenue locally last year.
Plus500 has seen strong growth globally, with 2024 figures showing a 30% increase in new customers to 118,010 and total customer deposits reaching $3 billion.
In its first quarter trading update, Plus500 said it has “made an excellent start to the year, driven by recent macroeconomic and financial market conditions” and it anticipates its FY 2025 results will be ahead of current market expectations.
