Following our report from last week that US neobroker Robinhood is planning to launch in the UK later this year, Sky News has reported that the company has hired Jordan Sinclair as the new CEO of its FCA licensed arm Robinhood U.K. Ltd, to run the UK operation.

Jordan Sinclair spent the past two years as Managing Director – Europe for UK based neobroker Freetrade. Prior to joining Freetrade Jordan was Director – Group Strategy & Corporate Development for Barclays in London. He has also worked at Wells Fargo, Monitor Deloitte, Capgemini Invent, and at EY.

According to Bloomberg, Jordan Sinclair was approved in mid July by the UK regulator Financial Conduct Authority to act as CEO of Robinhood UK. The company has not yet made a formal announcement, but we expect one to be made shortly.

Robinhood Markets Inc (NASDAQ:HOOD) gained notoriety during the “meme stock craze” of 2020, and went public in mid 2021 at a share price of $38 – which soon-after soared to above $70. However a combination of weak results and waning crypto (and meme stock) madness hit Robinhood stock hard, along with questions about the way Robinhood made money through payment-for-order-flow (PFOF) arrangements. Robinhood shares have traded in a fairly tight range around $10-12 for most of the past two and a half years.