(Alliance News) - Plus500 Ltd on Thursday hired Israeli economist Jacob Frenkel as its new chair.
Frenkel has over 40 years' experience in macroeconomics, according to Plus500, a Haifa-based online trading platform. He was chair of JPMorgan Chase International for 11 years until 2020, and previously served as governor of the Bank of Israel. He is currently chair of New York-based BrainStorm Cell Therapeutics Inc.
Frenkel will take over as Plus500 chair after the annual general meeting on May 4, subject to shareholder approval.
He will replace Penny Judd, chair since 2017, who decided not to stand for re-election.
"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," Plus500 Chief Executive David Zruia.
Plus500 shares were up 0.8% to 1,382.00 pence in London.
By Ivan Edwards; ivanedwards@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Plus500 (PLUS)