Plus500, the online trading company, has recently announced that it had appointed David Zruia as its new Chief Executive Officer, or CEO.
Going From interim To Permanent
Zruia had held this role as an Interim CEO ever since the 20th of April, 2020. This occurred after Asaf Elimelech was announced to be resigning as the then-CEO by the company. Zruia joined Plus500 almost a decade ago, in 2010, and had been serving as the Chief Operating Officer ever since 2013.
The Mandatory Kind Words
Zruia gave comment about the matter at large, being the first public statement of him serving as the CEO of Plus500. He stated that he had served the team of Plus500 for almost ten years, now. As such, he stated that he felt honored to be allowed the opportunity to stand as the company’s CEO.
Zruia gave comment about the exciting nature of his time serving as an Interim CEO for the past few months, and claimed that Plus500 is in a powerful position, overall. In his opinion, the company is currently in a good position both financially and operationally and will be easily capable of delivering future growth to its various shareholders.
Overwhelming Success Amid Volatility
Plus500 had announced the appointment of its new CEO alongside another announcement, as well: Their half-year trading update. The online trading company took note of the market volatility increasing all the way through the second quarter. This, in turn, drove the customer trading activity up in a consistent basis.
This opportunity, coupled with Plus500 onboarding a large number of New Customers at an attractive sot, had managed the online trading company to gain a record number of Active Customers trading on the platform. During H1 2020, 198,176 new customers were onboarded, which is almost four times that of H1 2019, which stood at 47,540. This includes the 115,225 customers that the firm had managed to onboard in Q2 2020 alone, with Q2 2019 only managing a measly 26,234.
As one would imagine, this caused a spectacular increase in total revenue that Plus500 had recorded for H1 2020. H1 2019 managed to record a total revenue of $148.0 million. H1 2020 managed to do more than triple that, recording a staggering $564.2 million. For Q2 2020 alone, the company had managed to gain $247.6 million in revenues, which is a far cry from the $94.1 million in revenue Plus500 had for Q2 2019.
Even with the uncertainty that surrounds such a massive increase of such large levels of volatility, the Plus500 Board is resolute in its confidence in its positive outlook. This comes even with the potential impact that the regulatory changes in Australia can cause it.
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