late 14c., "one who forwards or advances" (the interest of someone or some cause), "supporter," agent noun from promote, and also from Old French promotor, promoteur and directly from Medieval Latin promotor.
Specific financial sense of "one who leads in forming a company" is from 1876; sense of "one who organizes sporting or entertainment events" is attested from 1936. In late Middle English and early Modern English it also had a sense of "an informer," from promote in a 15c. sense of "inform against."
updated on December 06, 2020