Robinhood Markets, the US inventory buying and selling app, has employed a senior government from Freetrade, a British fintech firm, to spearhead revived plans for a UK launch.
Sky News has learnt that Jordan Sinclair, a former Barclays government, has been appointed as Robinhood’s UK CEO.
A submitting registered with the Financial Conduct Authority exhibits Mr Sinclair’s appointment grew to become efficient earlier this month.
He spent 13 months as managing director of Freetrade’s European operation, based on his LinkedIn profile.
The information of his arrival comes ten days after a report in The Daily Telegraph that Robinhood was dusting off plans to launch its platform in Britain.
A earlier try to carry its enterprise throughout the Atlantic was shelved in 2020 amid elevated regulatory scrutiny in its house market.
Robinhood, which launched in 2013, noticed an explosion in demand from locked-down clients in the course of the pandemic, sparking a share-trading frenzy in so-called ‘meme shares’.
Now a listed firm in New York with a market valuation of about $11.5bn, Robinhood has seen its shares rise by 40% over the last yr.
Nevertheless, it’s capitalised at barely a 3rd of the worth it listed at in 2021.
Further particulars of its UK launch plans, the place it could compete with Mr Sinclair’s former employer and the likes of AJ Bell and Hargreaves Lansdown, are unclear.
A Robinhood spokesman declined to remark.
Content Source: information.sky.com