Retail broker Plus500 has hired Nick Scarf as the CEO of its Australian company.
Scarf joins the company from broker-dealer Marex.
He was initially Head of Clearing Operations for the company’s APAC division, before being made Chief Operating Officer for Australia and New Zealand at the start of last year.
The new Plus500 exec has worked in financial services for over three decades.
He started his career at Aussie futures broker L Quay Futures and went on to hold roles at Merrill Lynch, TransMarket Group, and BrokerOne.
Scarf also spent time at MF Global and brokerage firm Newedge Group.
Plus500 Australia
Despite similar regulatory restrictions to those imposed in Europe back in 2018, Australia remains a key market for Plus500.
Last year the company generated $51.4m from its entity in the country.
As with other markets, however, the company does not have a large physical presence in Australia.
LinkedIn data suggests the firm only has about 10 employees down under, with most of those people in compliance and finance roles.
Plus500 has not released a statement about Scarf’s appointment, but he is likely replacing Sean Murphy, who has been the broker’s Aussie CEO since 2015.
