FNG Exclusive… FNG has learned that eToro’s longtime Deputy CEO and “Number 2” to eToro Founder and CEO Yoni Assia, Shalom Berkovitz, has stepped down from his management roles with the company.

Mr. Berkovitz also served as eToro’s CFO.

Shalom Berkovitz joined eToro in 2016, after serving as CEO of digital advertising company DMG for five years. He was also previously CEO of directory company Golden Pages Israel’s d-Group Internet holdings subsidiary.

The roles filled by Mr. Berkovitz will be split, with eToro’s VP Finance since 2019, Meron Shani, promoted to Group CFO. eToro COO Dr. Hedva Ber, who joined the company in 2021 after serving as Israel’s Supervisor of Banks within the Bank of Israel, will become sole Deputy CEO.

The moves follow a number of other senior level executive departures from eToro, after eToro cancelled its IPO plans last summer. eToro’s Head of Germany and DACH region Dennis Austinat left in Q4 (and recently joined Trive). The company’s Head of Sponsorships, Dylan Holman, left and moved to McLaren.

An eToro spokesperson provided FBG with the following comment:

“Meron Shani, previously VP of Finance, has been newly appointed as CFO at eToro. He is succeeding Shalom Berkovitz who recently announced his retirement. 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.”