Plus500 names David Zruia its CEO

Maria Nikolova

Mr Zruia has held the role on an interim basis since April 20, 2020.

Online trading company Plus500 Ltd (LON:PLUS) today announces the appointment of David Zruia as its new Chief Executive Officer.

Mr Zruia has held the role on an interim basis since April 20, 2020, when the company announced the resignation of Asaf Elimelech. David Zruia joined Plus500 in 2010 and was appointed Chief Operating Officer in 2013.

David Zruia, Chief Executive Officer of Plus500, commented on his appointment:

“Having been part of the Plus500 team for almost 10 years, I am honoured to be given the opportunity to become CEO of the Company. It has been exciting to lead the business on an interim basis over the last few months and I believe that Plus500 is in an extremely strong position, both operationally and financially, to deliver future growth for our shareholders”.

The appointment of the new CEO was announced along with a half-year trading update. Plus500 notes that market volatility remained heightened throughout the second quarter. This drove a consistently high level of customer trading activity which, together with the onboarding of a significant number of New Customers at an attractive cost, ensured a record number of Active Customers trading on the Plus500 platform during the first half of 2020. A total of 198,176 new customers were onboarded during H1 2020 (H1 2019: 47,540), including 115,225 new customers in Q2 2020 (Q2 2019: 26,234).

As a result, total revenue for H1 2020 was around $564.2 million (H1 2019: $148.0m), including revenues of around $247.6 million in Q2 2020 (Q2 2019: $94.1m).

Despite a background of on-going uncertainty regarding the duration of current levels of volatility, and the unquantified potential impact from regulatory changes in Australia, the Board said it remains very confident about the outlook for the company.

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