eToro part ways with head of referrals Dylan Holmani

Israeli social trading and multi-asset brokerage firm eToro has parted ways with Dylan Holmani, who spent nearly seven months there as head of Global Sponsorships. He landed at McLaren Racing, a British motor racing team based at the McLaren Technology Center in Woking, where he took on the role of Head of Primary Partner.

During his time at eToro, Dylan helped the broker secure Premier League multi-club deals with Tottenham Hotspur, Crystal Palace, Leicester City and Southampton. The Israeli firm, which was preparing for an eye-catching $10 billion IPO, is also one of the biggest sponsors of European football. Specifically, he has built a strong portfolio of top clubs including Bundesliga clubs RB Leipzig, FC Cologne, FC Union Berlin, VfL Wolfsburg and Eintracht Frankfurt.

“After seven brilliant years at eToro, I am happy to share that I am starting a new role as Senior Partner Manager at McLaren Racing, responsible for managing key partnerships,” said Holmani.

For the past fifteen years, Holmani has worked for both major agencies including Fast Track (which is now known as CSM) and internally as Head of Global Sponsorships on the social investment platform eToro. Among other milestones, he developed the corporate sponsorship strategy which now includes over 25 sports properties across the globe.

With deals at Premier League, Serie A and Bundesliga clubs, eToro has been active in the European football market. And with the expansion of jersey inventory, the Israeli trade network has also gained access to a series of joint initiatives to promote its brand on football pitches across Europe.

The news comes barely a month later eToro laid off 100 employees, half of them in Israel. This number represents approximately 6% of the company’s total workforce.

Along with announcing the cuts, eToro scrapped plans to go public with a $10 billion valuation after it canceled its SPAC deal with the Betsy Cohen-backed blank check company. Worse still, the social investment work is reportedly in talks to close a private funding round of around $1 billion, but at a valuation of only $5-6 billion.

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