Professor Frenkel to succeed Penny Judd as Plus500 chair

Online trading platform Plus500 said on Thursday that Professor Jacob A. Frenkel will succeed Penny Judd as chairman following the annual meeting on 4 May, subject to shareholder approval.

Judd, who has been chair since April 2017, does not plan to nominate herself for re-election at the AGM, "in order to focus on other business interests and directorships".

Plus500 said Frenkel is a renowned global economist and business leader, with a track record of over 40 years in global macroeconomics, during which time he has built up significant experience in leading and advising a number of high profile multi-national financial institutions.

Most recently, he was the chairman of JPMorgan Chase International, between 2009 and 2020. He also serves as chairman of the board of Trustees of the Group of Thirty, a private non-profit consultative group on international economic and monetary affairs.

Prior to these roles, he was chairman and CEO of the G-30, between 2001 and 2011, vice chairman of American International between 2004 and 2009, and chairman of Merrill Lynch International between 2000 and 2004.

Chief executive officer David Zruia said: "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.

"With Professor Frenkel as our proposed new chairman, I believe we are very well placed to access a number of major growth opportunities in the future, thereby delivering value for Plus500 and our shareholders over the coming years."