Robinhood Appoints Former Barclays Executive as UK CEO to Lead Revived Launch Plans
Robinhood, the popular US stock trading app, has announced the appointment of a senior executive from a British fintech company to lead its revived plans for a launch in the UK.
The app has hired Jordan Sinclair, a former Barclays executive and managing director of Freetrade's European operation, to serve as its UK CEO.
The news of Sinclair's arrival comes ten days after a report in The Daily Telegraph that Robinhood was reviving plans to launch its platform in Britain.
Robinhood, which was founded in 2013, saw a surge in demand from locked-down customers during the pandemic, sparking a share-trading frenzy in so-called 'meme stocks'.
The app has since become a listed company in New York with a market valuation of about $11.5bn.
However, its shares have risen by only 40% during the last year, and it is currently capitalised at barely a third of the price it listed at in 2021.
Sinclair's appointment comes as Robinhood competes with his former employer, Freetrade, and other established players in the UK market, such as AJ Bell and Hargreaves Lansdown.
Further details of Robinhood's UK launch plans are unclear, and a spokesman for the company declined to comment on the matter.
The news of Sinclair's arrival comes ten days after a report in The Daily Telegraph that Robinhood was reviving plans to launch its platform in Britain.
Robinhood, which was founded in 2013, saw a surge in demand from locked-down customers during the pandemic, sparking a share-trading frenzy in so-called 'meme stocks'.
The app has since become a listed company in New York with a market valuation of about $11.5bn.
However, its shares have risen by only 40% during the last year, and it is currently capitalised at barely a third of the price it listed at in 2021.
Sinclair's appointment comes as Robinhood competes with his former employer, Freetrade, and other established players in the UK market, such as AJ Bell and Hargreaves Lansdown.
Further details of Robinhood's UK launch plans are unclear, and a spokesman for the company declined to comment on the matter.
