Plus500 Plans to Appoint Jacob Frenkel as New Chairman

Plus500, an online contracts for differences (CFDs) broker, has proposed the appointment of Professor Jacob A. Frenkel, a well-known global economist, as Chairman of the company’s Board of Directors. Frenkel will succeed Penny Judd following the conclusion of the 2021 Annual General Meeting on 4 May 2021, subject to approval from the company’s shareholders.

According to the official announcement, Judd is not planning to nominate herself for re-election at the Annual General Meeting. Judd became Chair of the Plus500 Board in 2017. During her time, Judd oversaw substantial enhancement of the expertise and breadth of the Board.

The newly proposed Chairman Frenkel has more than 40 years of experience in global macroeconomics. He is the author of several books in the field of international economics. Between 2009 and 2020, Frenkel served as Chairman of JPMorgan Chase International. Professor Frenkel has been Chairman of the Board of Governors of Tel Aviv University since 2013.

Commenting on the latest announcement, David Zruia, Chief Executive Officer of Plus500, said: “I am honored 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 organizations. 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 Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term group over time.”

Expansion

Plus500 mentioned earlier this month that the company is planning to establish a new research & development (R&D) center in Tel Aviv. Plus500 CEO Zruia outlined that the company is evolving into a multi-asset fintech group.

"I am proud and honored 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,” Professor Frenkel mentioned in the official announcement.