Lule Demmissie has been named U.S. CEO of eToro Group, a multiasset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors, the company announced this week.
In the role, Demmissie will be in charge of creating a strategic business vision for eToro’s entire U.S. business, helping build a customer-centric platform to drive adoption. In addition, Demmissie will lead eToro’s U.S. operations, including overseeing the company’s expansion and investment within the region, operational infrastructure, marketing, investment thought leadership, corporate governance and compliance, as well as its regulatory affairs, risk management and social responsibility sectors. Demmissie will preside over all eToro’s US entities.
Demmissie joins eToro from Ally Invest, where she served as president and oversaw the Ally Invest Securities, Ally Invest Advisors and API business lines. In this role, she was responsible for the products and services delivered to Ally Invest’s all-digital client base and shaping the end-to-end client experience as well as management of the profit & loss and growth strategy for the business.
Prior to Ally Invest, Demmissie was the managing director of investment products and digital Guidance at TD Ameritrade and has also worked with leading investment firms such as Morgan Stanley, J.P. Morgan and Merrill Lynch as a product manager, product developer and a financial adviser.
The eToro Group USA is headquartered in Hoboken; the eToro Group is based in London.
About eToro Group
eToro is a multiasset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way.
eToro’s offering in the U.S. launched in 2019 and is currently limited to crypto and copy trading. It has grown considerably over the past year, and eToro officials said they plan to expand its product range with the launch of zero-commission stocks later this year.
Shalom Berkovitz, eToro Group chief financial officer and deputy CEO, said Demmissie is a perfect fit for the job.
“The U.S. market is an essential part of eToro’s trajectory and strategic future, and Lule’s unique blend of innovation in fintech, brand expertise and operational excellence is an important addition to the eToro leadership team,” he said. “Lule brings with her a passion for investor behavior, agile product development and an appreciation of behavioral science and design thinking in shaping user-centric experiences.
“She is a longstanding advocate for empowering everyone to take control of their financial futures, which aligns perfectly with eToro’s global vision.”
Demmissie said she is eager to get going.
“The financial services industry is at a pivotal moment, which offers the chance for retail investors to position themselves for success, thanks to financial technology,” she said. “I have spent my career furthering the empowerment of retail investors and championing financial well-being. eToro’s breakthrough blend of innovation in social investing, copy trading, as well as its groundbreaking efforts in digital assets, is what drew me to this amazing brand and team. I am excited to work with (U.S. Managing Director) Guy Hirsch and the U.S. team to continue this mission as U.S. CEO of the world’s leading social investing platform.”
Demmissie holds a B.A. in economics from Smith College and an MBA from Columbia Business School.