Plus500 Promotes Dani Magner to Chief Product & Risk Officer

Plus500 (LON:PLUS), a UK-registered multi-asset broker, has promoted Dani Magner as its new chief product and chief risk officer.

Magner was previously the vice-president of product and risk at the brokerage. He joined Plus500 in mid-2015 and attained the position of one of the top executives over the years.

He was initially an operations engineer at Plus500, designing procedures and toolkit for analysis, optimization, automation and streamlining operations, and later promoted as the head of operations and risk. He also served the brokerage as a product manager for almost two years.

Being an Israeli, Magner served the Israeli Defense Intelligence (IDI) for four years and also received several honors for his service.

He studied Bachelor of Science (BSc) in Computer engineering from Technion – Israel Institute of Technology and also completed his masters in business from the same institute. He also received a master’s degree in advanced management from the Yale School of Management.

Relying on internal talents rather than outside hires

In June, Finance Magnates also reported on the promotion of Erez Levy as the chief executive officer of Plus500’s Israeli subsidiary who was previously heading its compliance measures.

Magner promotion came only a couple of weeks after the UK-registered broker announced a 281 percent year-on-year jump in its revenue for the first half of 2020. The company hit an absolute figure of $564.2 million in revenue for the period.

Meanwhile, the brokerage is actively repurchasing its own shares despite a significant surge in its publicly traded prices. Year-to-date, Plus500 share prices gained over 70 percent, trading at £14.78 apiece, as of press time.