Jordan Sinclair Appointed as Robinhood’s UK CEO for Long-Awaited British Market Launch
Robinhood Markets, the renowned US stock trading app, has recently hired Jordan Sinclair, a former executive from British fintech company Freetrade, to lead its revived plans for a UK launch. Sinclair, who previously worked at Barclays, has been appointed as Robinhood’s UK CEO, according to a filing registered with the Financial Conduct Authority.
Sinclair brings with him 13 months of experience as the managing director of Freetrade’s European operation, as stated on his LinkedIn profile. His appointment comes in the wake of a report in The Daily Telegraph, which revealed that Robinhood was preparing to launch its platform in Britain.
Robinhood’s previous attempt to expand into the UK market was put on hold in 2020 due to increased regulatory scrutiny in its home market. However, the company experienced a surge in demand during the pandemic, as locked-down customers turned to share trading, resulting in a frenzy around “meme stocks.”
With a current market valuation of approximately $11.5 billion, Robinhood became a listed company in New York and witnessed a 40% increase in its share price over the past year. Despite this growth, its market capitalization remains only a third of its listing price in 2021.
Details regarding Robinhood’s UK launch plans, including competition with Freetrade, AJ Bell, and Hargreaves Lansdown, are yet to be disclosed. When approached for comment, a Robinhood spokesperson declined to provide further information.
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