American broker Robinhood intends to enter the UK market in the near future.
It was announced that the company is now looking for people to fill key positions in London. The company is looking for regulatory and operations specialists, among others. The company is also looking for a CEO for the UK office.
Interestingly, Robinhood's plans came to light days after its main competitor, Public.com, also launched in the UK, notes FNG.
Robinhood had already planned to launch in the UK in 2019, establishing Robinhood UK Ltd. and even receiving FCA approval, but the COVID-19 pandemic thwarted the neobroker's plans, and the launch was canceled in mid-2020.
Robinhood UK currently has one Executive Director, Bert van Delft, who was hired in 2019. Prior to his appointment, he worked as Director of Operations at Dutch banking platform Ohpen and also spent more than 10 years at one of the largest banks in the Netherlands, BinckBank.
Robinhood went public in 2021 with a share price of $38 per share and very quickly reached a price of $70. However, the lack of positive results caused the price to drop to $10 per share. Recently, things have started to get better for the brokerage, and the stock has risen by more than 25% over the last 3 months.
Recall that earlier, Robinhood expanded access to the 24-hour market for all clients.
