Stock-trading app Robinhood has hired a former TransferWise executive to lead its London office ahead of an upcoming launch in the UK.
The US business has hired Wander Rutgers, a financial technology executive who previously worked as head of banking and international expansion at currency exchange start-up TransferWise.
Robinhood is planning to launch its stock-trading app in the UK in 2019, although it does not currently have approval to operate from the Financial Conduct Authority.
The Silicon Valley-based firm has grown to be worth over $5bn (£3.8bn) through allowing customers to invest in stocks for free. The app also lets customers trade cryptocurrencies.
Robinhood has not publicly confirmed its plans to launch in the UK, but TechCrunch reported earlier this month that the business was hiring employees in London for compliance, product design and operations roles.
Mr Rutgers’ experience in launching TransferWise in new countries during his time at the company suggests that Robinhood is also keen to target further European countries beyond the UK.
Robinhood’s new UK head has recently worked at Plum following his departure from TransferWise in 2017. Plum operates an artificial intelligence-powered bot which can provide financial advice. Mr Rutger has since left Plum to join Robinhood full-time.