Herman Dermer has left eToro to join MultiBank Group, a major forex and contracts for differences (CFDs) broker brand, in the role of Head of Institutional Sales. He is based in the Dubai office of the broker.
“I’m happy to share that I’m starting a new position as Head of International Sales at MultiBank Group!” Dermer wrote in a Linkedin post.
His appointment came when the broker recently received a new UAE license, along with another from the regulator in Singapore.
A Sales Expert
Dermer brings years of relevant industry experience to his new role at MultiBank.
His most prominent experience in the trading industry was with eToro, where he spent more than a decade across two tenures. He initially joined the Tel Aviv office of the broker in August 2011 as a Senior Community and Account manager, spending three years and five months in the role.
He later joined the Israel office of eToro again in August 2015 as an Outsourced Sales Manager. He then moved to eToro’s Cypriot office, with a promotion to the Head of Sales. He parted with the broker as an Operations Manager, a role that he held for the last year and a half.
In between his time at eToro, he spent eight months at AVA Trade in the role around Strategic Partnership and Busines Development.
Established in 2005, MultiBank targets retail traders with its range of products. It is regulated by several top financial watchdogs globally on five continents. It closed in 2021 with a daily turnover of over $12.1 billion and annual revenue of $189 million.
Moreover, the broker has branches in countries such as Australia, Germany, Austria, Spain, Cyprus, the USA, Mexico, UAE, Kuwait, Jordan and Turkey.
