eToro US Head Steps Down After Two-Year Tenure as Alain Tennekoon Takes Over

Andrew McCormick, Head
of US operations at eToro, has stepped down from his role. He announced the
departure on LinkedIn. In his post, he wrote: “My time here has come to an end
but I’ll forever be thankful for an unforgettable adventure.”

eToro said that Alain
Tennekoon, Head of Operations and Service for eToro’s US business, will assume
McCormick’s responsibilities.

eToro US Head McCormick Steps Down

Commenting on his departure,
the company said: “We thank McCormick for his contributions to eToro’s U.S.
business and wish him the very best in his new role.”

McCormick took on the role of Head of eToro
US after Lule
Demmissie stepped down as CEO of the company’s US operations. He served in
the position for around two years. He was promoted into the role following his
previous position as US Senior Counsel, which he held for more than two years
at the firm.

He also reflected on
his time at the company, saying “The work was challenging” and adding that he
was “blessed to have spent the past 4.5 years with a team full of passion,
integrity, and kindness.” He said he was “grateful for the lessons learned” and
for “the work we did to help investors.”

Morgan Stanley to eToro Career Path

Prior to joining
eToro, he worked at Morgan Stanley as Vice President, Regulatory Enforcement
and Litigation Counsel for around one year and four months. In that role, he
handled regulatory investigations following Morgan Stanley’s acquisition of
E*TRADE.

Before that, he spent
around four years at E*TRADE. He first served as Director and Associate General
Counsel for just over one year, and earlier as Assistant General Counsel for
nearly three years. In these roles, he worked on regulatory investigations and
advised product, operations, technology, AML, marketing, and compliance teams.

He began his legal
career at Eversheds Sutherland, where he worked as a Litigation and Enforcement
Associate for more than six years.

eToro Expands Crypto Trading in New York

Meanwhile, eToro
has expanded its crypto trading services to residents of New York, allowing
users to buy and sell digital assets alongside stocks, ETFs, and options on its
platform.

The move extends the company’s crypto
offering to 48 U.S. states and follows approval from New York financial
regulators. The company secured both the New York State BitLicense and Money
Transmitter License after years of engagement with state authorities, enabling
it to operate within one of the most tightly regulated U.S. markets.

This article was written by Tareq Sikder at www.financemagnates.com.



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