Online CFD broker Plus500 has proposed Professor Jacob A. Frenkel to be appointed as Chairman of its Board of Directors.
Frenkel could succeed Penny Judd as Chairman after the 2021 Annual General Meeting which will be held on 4 May 2021.
Penny Judd has served as Chairman of Plus500’s board since April 2017. The announcement said that she notified the Board that she will not seek re-election so he can focus on other business interests and directorships.
Penny Judd, Chairman of Plus500, said:
Penny Judd Source: LinkedIn
I have been honoured to serve Plus500 as a Non-executive Director since 2016 and as Chair since 2017. During this time the Company has successfully navigated a period of significant and challenging regulatory change and has moved from AIM to become a constituent of the FTSE250 with a premium listing on the Main Market of the London Stock Exchange.
David Zruia, Chief Executive Officer, commented:
I would also like to take this opportunity, both personally and on behalf of the Board, to wish Penny Judd all the best for the future. Penny has helped to lead continued improvement in our governance approach and practices. Her guidance, support and advice will be greatly missed.
A veteran in the field, Frenkel has more than 40 years in global macroeconomics. He has built a significant experience in leading and advising a number of high profile multi-national financial institutions.
Most recently, Frenkel served as Chairman of JPMorgan Chase International, between 2009 and 2020. He was also Chairman of the Board of Trustees and CEO of the Group of Thirty (G-30), a private non-profit consultative group on international economic and monetary affairs. He has been Chairman of the Board of BrainStorm Cell Therapeutics Inc., since 2020 and Chairman of the Board of Governors of Tel Aviv University since 2013. Between 2000 and 2000 Frenkel also served as Chairman of Merrill Lynch International, and Chairman of Merrill Lynch’s Sovereign Advisory and Global Financial Institutions Groups. He was also Governor of the Bank of Israel for two terms between 1991 and 2000.
Jacob A. Frenkel, Chairman-elect of Plus500, commented:
Jacob A. Frenkel
I am proud and honoured to have the opportunity to become the proposed Chairman of Plus500 at such an exciting time. The Company has a strong and agile technology platform and a compelling vision to enable simplified, universal access to financial markets, as Plus500 evolves to become a multi-asset fintech group over time, by expanding into new markets and launching new products.
David Zruia, Chief Executive Officer, noted:
David Zruia Source: LinkedIn
I am honoured to welcome Professor Jacob Frenkel as the Company’s proposed new Chairman. He has substantial and wide-ranging corporate and regulatory experience, with a distinguished career working in high profile leadership roles for several major international financial services organisations. Professor Frenkel’s significant experience and knowledge of the financial services sector will be a huge asset for Plus500, as we enter a new phase of development, evolving into a multi-asset fintech group over time.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
