The Role of the Board
The Board is responsible to shareholders for effective direction and control of the Company and to promote the long-term success of the Company, and determining the Group’s strategy, vision and culture. In order to lead the development of the strategy of the Company and the progress of financial performance, the Board is provided with timely and comprehensive information that enables it to effectively review and monitor the performance of the Company and to ensure it is in line with its objectives for achieving its strategic goals.
Board of Directors
Prof Jacob A. Frenkel
Independent Non-Executive Director and Chairman
Prof. Jacob A. Frenkel is a Non-Executive Director and Chair of the Board of Directors.
Prof. Frenkel is a renowned global economist and illustrious business leader, with significant experience developed over many years of leadership. He is Chairman Emeritus of the Group of Thirty (G-30), and Chairman of BrainStorm Cell Therapeutics Inc., a NASDAQ-listed biotechnology company.
Prof. Frenkel served as Chairman of JPMorgan Chase International (2009- 2020), Chairman and CEO of the G-30 (2001-2011), Chairman of the Board of Trustees of the G-30 (2012-2022), Vice Chairman of American International Group, Inc. (2004-2009), Chairman of Merrill Lynch International (2000-2004), Chairman of the Board of the InterAmerican Development Bank (1995- 1996) and Vice Chairman of the Board of the European Bank for Reconstruction and Development (1999-2000). He also served as Chairman of the Board of Governors of Tel Aviv University (2013- 2021).
Prior to this he served two terms as the Governor of the Bank of Israel (1991-2000), as the Economic Counsellor and Director of Research at the International Monetary Fund (1987-1991) having previously been Professor of Economics and the David Rockefeller Professor of International Economics at the University of Chicago (1973-1987).
He is a Laureate of the Israel Prize in Economics and is a recipient of several Honorary Doctoral Degrees and other decorations and awards. He is an Honorary Member of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Fellow of the International Economic Association, a Senior Advisor of Temasek International Advisors, a member of the Competitive Markets Advisory Council of the CME Group, a Global Member of the Trilateral Commission, a former member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the G20 Eminent Persons Group on Global Financial Governance, and a member of the G20 High Level Independent Panel on Financing of the Global Commons for Pandemic Preparedness and Response.
Prof. Frenkel holds a BA in economics and political science from the Hebrew University of Jerusalem, and an M.A. and Ph.D. in economics from the University of Chicago.
Prof. Frenkel is a renowned global economist and illustrious business leader, with significant experience developed over many years of leadership. He is Chairman Emeritus of the Group of Thirty (G-30), and Chairman of BrainStorm Cell Therapeutics Inc., a NASDAQ-listed biotechnology company.
Prof. Frenkel served as Chairman of JPMorgan Chase International (2009- 2020), Chairman and CEO of the G-30 (2001-2011), Chairman of the Board of Trustees of the G-30 (2012-2022), Vice Chairman of American International Group, Inc. (2004-2009), Chairman of Merrill Lynch International (2000-2004), Chairman of the Board of the InterAmerican Development Bank (1995- 1996) and Vice Chairman of the Board of the European Bank for Reconstruction and Development (1999-2000). He also served as Chairman of the Board of Governors of Tel Aviv University (2013- 2021).
Prior to this he served two terms as the Governor of the Bank of Israel (1991-2000), as the Economic Counsellor and Director of Research at the International Monetary Fund (1987-1991) having previously been Professor of Economics and the David Rockefeller Professor of International Economics at the University of Chicago (1973-1987).
He is a Laureate of the Israel Prize in Economics and is a recipient of several Honorary Doctoral Degrees and other decorations and awards. He is an Honorary Member of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Fellow of the International Economic Association, a Senior Advisor of Temasek International Advisors, a member of the Competitive Markets Advisory Council of the CME Group, a Global Member of the Trilateral Commission, a former member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the G20 Eminent Persons Group on Global Financial Governance, and a member of the G20 High Level Independent Panel on Financing of the Global Commons for Pandemic Preparedness and Response.
Prof. Frenkel holds a BA in economics and political science from the Hebrew University of Jerusalem, and an M.A. and Ph.D. in economics from the University of Chicago.
David Zruia
Group Chief Executive Officer and Director
David Zruia is the Chief Executive Officer.
David joined Plus500’s leadership team in 2010 as a senior manager in the Group’s marketing department. In that role, David was instrumental in establishing Plus500’s technology-based marketing capabilities and in building awareness of, and recognition for, the Plus500 brand in key strategic markets around the world, through a broad range of marketing initiatives and activities.
He was appointed as the Group Chief Operations Officer in 2013 and led the establishment and management of the operational division of the Group, including the implementation and development of ‘ KYC’ processes, payments processing, back-office services, customer support and risk management.
In April 2020, David was appointed as Chief Executive Officer of Plus500. Since that time, under his leadership, Plus500 has developed a new strategic roadmap, which has been designed to diversify and grow the business as a global multi-asset fintech group. As part of the new strategic roadmap, Plus500 has conducted its first ever acquisitions, in the US and Japan, thereby expanding the Group’s global footprint, broadening its product range and enabling access to a number of significant future growth opportunities for Plus500.
David holds a B.Sc. in Industrial Engineering and Management from the Technion – Israel Institute of Technology.
David joined Plus500’s leadership team in 2010 as a senior manager in the Group’s marketing department. In that role, David was instrumental in establishing Plus500’s technology-based marketing capabilities and in building awareness of, and recognition for, the Plus500 brand in key strategic markets around the world, through a broad range of marketing initiatives and activities.
He was appointed as the Group Chief Operations Officer in 2013 and led the establishment and management of the operational division of the Group, including the implementation and development of ‘ KYC’ processes, payments processing, back-office services, customer support and risk management.
In April 2020, David was appointed as Chief Executive Officer of Plus500. Since that time, under his leadership, Plus500 has developed a new strategic roadmap, which has been designed to diversify and grow the business as a global multi-asset fintech group. As part of the new strategic roadmap, Plus500 has conducted its first ever acquisitions, in the US and Japan, thereby expanding the Group’s global footprint, broadening its product range and enabling access to a number of significant future growth opportunities for Plus500.
David holds a B.Sc. in Industrial Engineering and Management from the Technion – Israel Institute of Technology.
Elad Even-Chen
Group Chief Financial Officer and Director
Elad Even-Chen is the Chief Financial Officer of the Group and Vice President of Business Development.
Elad joined the Group in 2011 and his responsibilities cover a broad range of finance, business, corporate and strategic functions.
Elad established the business development department which he is leading and managing. The business development department is responsible for the Group’s strategic investments and expansion plans into new and existing markets, through receipt of new regulatory licences across the globe, including by targeting and executing acquisitions.
Elad has played a key role in driving the Group’s strategic and financial performance and its business expansion in recent years, into new markets and new product areas.
Elad leads the Group’s financial divisions and also oversees the financial performance, including treasury, consolidated financial statements and tax matters.
Elad has an extensive corporate finance, legal and regulatory background. Over the last 12 years he has held a number of positions within the Group also acting as Company Secretary, Head of Risk Management and Head of IR. Elad is a certified accountant in Israel and, prior to joining the Group, was a senior associate at KPMG.
Elad holds a BA in Accounting and Economics from Tel Aviv University, an LL.B from the College of Management and an MBA (specialising in Financial Management) from Tel Aviv University.
Elad joined the Group in 2011 and his responsibilities cover a broad range of finance, business, corporate and strategic functions.
Elad established the business development department which he is leading and managing. The business development department is responsible for the Group’s strategic investments and expansion plans into new and existing markets, through receipt of new regulatory licences across the globe, including by targeting and executing acquisitions.
Elad has played a key role in driving the Group’s strategic and financial performance and its business expansion in recent years, into new markets and new product areas.
Elad leads the Group’s financial divisions and also oversees the financial performance, including treasury, consolidated financial statements and tax matters.
Elad has an extensive corporate finance, legal and regulatory background. Over the last 12 years he has held a number of positions within the Group also acting as Company Secretary, Head of Risk Management and Head of IR. Elad is a certified accountant in Israel and, prior to joining the Group, was a senior associate at KPMG.
Elad holds a BA in Accounting and Economics from Tel Aviv University, an LL.B from the College of Management and an MBA (specialising in Financial Management) from Tel Aviv University.
Steve Baldwin
Independent Non-Executive Director
Steve Baldwin is a Non-Executive Director and Chair of the Nomination and ESG Committees.
Steve is currently the Chair of TruFin plc and is also a Non-Executive Director of The Edinburgh Investment Trust PLC. Steve has an extensive corporate finance background and held the position of Head of European Equity Capital Markets and Corporate Broking at Macquarie Capital until 2015 when he decided to pursue a non-executive career.
Prior to joining Macquarie Capital, Steve was a Corporate Finance Director at JP Morgan Cazenove for ten years and previously a Vice President of Corporate Finance at UBS.
Steve qualified as a Chartered Accountant at Coopers & Lybrand after graduating with a BA in Zoology from St Catherine’s College, Oxford University.
Steve is currently the Chair of TruFin plc and is also a Non-Executive Director of The Edinburgh Investment Trust PLC. Steve has an extensive corporate finance background and held the position of Head of European Equity Capital Markets and Corporate Broking at Macquarie Capital until 2015 when he decided to pursue a non-executive career.
Prior to joining Macquarie Capital, Steve was a Corporate Finance Director at JP Morgan Cazenove for ten years and previously a Vice President of Corporate Finance at UBS.
Steve qualified as a Chartered Accountant at Coopers & Lybrand after graduating with a BA in Zoology from St Catherine’s College, Oxford University.
Tami Gottlieb
Independent Non-Executive Director and External Director
Tami Gottlieb is a Non-Executive Director and Chair of the Audit Committee.
Tami has a long track record in the financial services industry in Israel and is currently an External Director at Bank Leumi Le-Israel – one of Israel’s two largest commercial banks, where she is the Chair of the Audit and Financial Reports Committees and a member of the Remuneration and Business & Credit & Resources Committees, having previously been on the Technology Committee and on the Risk Management Committee.
Tami Gottlieb is also an Independent Director at Novolog (Pharm-Up 1966) Ltd, an External Director at Extell Limited and a Director at Emilia Development (O.F.G) Ltd. She is also a founder and CoManaging Director of Harvest Capital Markets Ltd, a wealth management and corporate finance boutique firm.
Tami holds a BA in International Relations from the Hebrew University of Jerusalem and an MA in Economics from Indiana University.
Tami has a long track record in the financial services industry in Israel and is currently an External Director at Bank Leumi Le-Israel – one of Israel’s two largest commercial banks, where she is the Chair of the Audit and Financial Reports Committees and a member of the Remuneration and Business & Credit & Resources Committees, having previously been on the Technology Committee and on the Risk Management Committee.
Tami Gottlieb is also an Independent Director at Novolog (Pharm-Up 1966) Ltd, an External Director at Extell Limited and a Director at Emilia Development (O.F.G) Ltd. She is also a founder and CoManaging Director of Harvest Capital Markets Ltd, a wealth management and corporate finance boutique firm.
Tami holds a BA in International Relations from the Hebrew University of Jerusalem and an MA in Economics from Indiana University.
Sigalia Heifetz
Independent Non-Executive Director
Sigalia Heifetz is a Non-Executive Director.
Sigalia holds non-executive directorships at a number of leading Israel-based corporations across a range of sectors and industries, including Nesher Israel Cement Enterprises Ltd, Clal Biotechnology Industries Ltd, RHI Magnesita N.V, Maman Cargo Terminals and Handling Ltd, Tamar Petroleum Ltd, Mashav Initiating & Development Ltd and Vesta Investments and Management Ltd.
She also previously held non-executive positions at Bet Shemesh Engines Ltd and Hadera Paper, prior to which she was an audit partner at accountancy firm BDO. She also served as a non-executive director at Golf & Co Ltd.
Sigalia holds a BA in Accounting and Economics from Tel Aviv University and an Executive MBA from INSEAD and Tsinghua University.
Sigalia holds non-executive directorships at a number of leading Israel-based corporations across a range of sectors and industries, including Nesher Israel Cement Enterprises Ltd, Clal Biotechnology Industries Ltd, RHI Magnesita N.V, Maman Cargo Terminals and Handling Ltd, Tamar Petroleum Ltd, Mashav Initiating & Development Ltd and Vesta Investments and Management Ltd.
She also previously held non-executive positions at Bet Shemesh Engines Ltd and Hadera Paper, prior to which she was an audit partner at accountancy firm BDO. She also served as a non-executive director at Golf & Co Ltd.
Sigalia holds a BA in Accounting and Economics from Tel Aviv University and an Executive MBA from INSEAD and Tsinghua University.
Prof Varda Liberman
Senior Independent Non-Executive Director
Prof. Varda Liberman is a Non-Executive Director, the Senior Independent Director and Chair of the Regulatory & Risk Committee.
Prof. Liberman is an internationally renowned expert in the field of decision-making and behavioural economics. In this capacity, she provides consulting and workshops in key elements of managerial decision-making and risk management to senior managements in organisations across a range of sectors, including healthcare, banking, investment, technology, the judicial system and the Israeli Defence Forces.
Prof. Liberman is the Rector of Reichman University (IDC Herzliya) in Israel, and one of its founders and leaders. She is a professor of the business school of Reichman University, a visiting researcher at Stanford University, and the author of several books and many scientific articles. Over the years, she has held a variety of managerial positions at the Reichman University, among them heading the mathematics and statistics studies, leading the decision-making area in the business school, and founding and heading the MBA programme in Healthcare Innovation.
Prof. Liberman holds a B.Sc. in Mathematics and Statistics, an M.Sc. in Mathematics and a Ph.D. in Mathematics, all from Tel Aviv University.
Prof. Liberman is an internationally renowned expert in the field of decision-making and behavioural economics. In this capacity, she provides consulting and workshops in key elements of managerial decision-making and risk management to senior managements in organisations across a range of sectors, including healthcare, banking, investment, technology, the judicial system and the Israeli Defence Forces.
Prof. Liberman is the Rector of Reichman University (IDC Herzliya) in Israel, and one of its founders and leaders. She is a professor of the business school of Reichman University, a visiting researcher at Stanford University, and the author of several books and many scientific articles. Over the years, she has held a variety of managerial positions at the Reichman University, among them heading the mathematics and statistics studies, leading the decision-making area in the business school, and founding and heading the MBA programme in Healthcare Innovation.
Prof. Liberman holds a B.Sc. in Mathematics and Statistics, an M.Sc. in Mathematics and a Ph.D. in Mathematics, all from Tel Aviv University.