Following our report from final week that US neobroker Robinhood is planning to launch within the UK later this yr, Sky Information has reported that the corporate has employed Jordan Sinclair as the brand new CEO of its FCA licensed arm Robinhood U.Okay. Ltd, to run the UK operation.
Jordan Sinclair spent the previous two years as Managing Director – Europe for UK based mostly neobroker Freetrade. Previous to becoming a member of Freetrade Jordan was Director – Group Technique & Company Improvement for Barclays in London. He has additionally labored at Wells Fargo, Monitor Deloitte, Capgemini Invent, and at EY.
In accordance with Bloomberg, Jordan Sinclair was authorized in mid July by the UK regulator Monetary Conduct Authority to behave as CEO of Robinhood UK. The corporate has not but made a proper announcement, however we count on one to be made shortly.
Robinhood Markets Inc (NASDAQ:HOOD) gained notoriety through the “meme inventory craze” of 2020, and went public in mid 2021 at a share worth of $38 – which soon-after soared to above $70. Nevertheless a mixture of weak outcomes and waning crypto (and meme inventory) insanity hit Robinhood inventory onerous, together with questions on the best way Robinhood made cash by way of payment-for-order-flow (PFOF) preparations. Robinhood shares have traded in a reasonably tight vary round $10-12 for many of the previous two and a half years.