editorial
Robinhood, the popular trading platform, has announced that Matt Billings will be joining the company as VP and President of Robinhood Financial LLC and Robinhood Securities, LLC. Billings will focus on prioritizing safety and efficiency in the firm’s products and services, with the goal of allowing more customers to grow their investments.
Steve Quirk, Chief Brokerage Officer of Robinhood Markets, Inc., expressed his excitement about Billings joining the team. With over 30 years of industry experience, Billings brings a unique perspective on retail investing and the markets. His leadership will be crucial as Robinhood continues to deliver on its product roadmap and expand its customer base.
Before joining Robinhood, Billings oversaw the trade and service desks, client relationships, and market structure at Two Sigma Securities. He also played a key role in market data management at TD Ameritrade, contributing his strategic expertise in government relations and market structure. Prior to that, he spent over a decade managing Trading Services for Scottrade.
Earlier this year, Robinhood’s Board of Directors authorized the company to pursue the purchase of most or all of the 55 million remaining Robinhood shares that Emergent Fidelity Technologies, Ltd. acquired in May 2022. This move demonstrates the board’s confidence in the company’s future success and the creation of shareholder value. On August 31, 2023, Robinhood completed the purchase of all 55,273,469 shares for a total cost of $605,694,411.59, equating to approximately $10.96 per share.
For more information on the share purchase, you can review the filed form 8-K on Robinhood’s website.
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