Israel-headquartered eToro promoted Meron Shani to the new Group Chief Financial Officer. He has already taken up the new role and is based in the Tel Aviv offices of the retail broker.

Meron Shani Elevated to eToro Group CFO

"I'm happy to share that I'm starting a new position as Group Chief Financial Officer at eToro!" Shani wrote in a Linkedin post.

Before the latest appointment of Shani, Shalom Berkovitz was holding the position of eToro's CFO and Deputy CEO. The broker confirmed to Finance Magnates that Berkovitz is retiring and Shani is replacing him in the CFO role.

"Shalom has been an instrumental member of eToro's management team for the past 7 years and will continue to act as a director of a number of the eToro Group's subsidiaries," an eToro spokesperson told Finance Magnates.

Shani joined eToro in 2019 and has been a part of the company for about four years now. Before his promotion as the Group CFO, he was the Vice President of Finance.

He was promoted to the top finance role when eToro had to squash its ambitions to become a public company. eToro's potential merger deal with a blank-check company ended last year when the deadline to close the deal ended in June, leading to a mutual termination of the agreement, which would have listed eToro shares on Nasdaq. eToro's SPAC partner is returning the $250 million proceeds it collected from its investors.

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Meron Shani Touted As Finance Expert

Shani is a finance expert with about 23 years of industry experience. He started his career at PricewaterhouseCoopers as a Senior Associate in 1999 but made his name in the eGaming industry.

Prior to his role at eToro, he spent eight and a half years at PokerStars. He joined the online poker cardroom as a Finance Accounting Director and was later promoted to Director of Corporate Finance Controller and then Finance Director. Additionally, he spent substantial time at 888 Holdings and separated as the B2B Finance Director.

Meanwhile, eToro has witnessed a few exits from the management. The broker's Head of Germany, Switzerland, and Austria, Dennis Austinat, was the latest to leave the company for a role at Amsterdam-based Trive. Earlier, Dylan Holman departed eToro to take up the role of Head of Primary Partner at the British racing team, McLaren Racing.