Robinhood (NASDAQ:HOOD) is pleased to announce that Matt Billings is joining the team as VP and President of Robinhood Financial LLC and Robinhood Securities, LLC effective as of – September 18, 2023.
In this role, Matt will focus on furthering the firm’s commitment “to putting safety and efficiency at the forefront of our products and services, giving more customers the opportunity to grow through their investing journey.”
Steve Quirk, Chief Brokerage Officer of Robinhood Markets, Inc, said:
“With more than 30 years in the industry, Matt brings a unique perspective on retail investing and the markets. He is well positioned to lead the teams as we continue to deliver on our product roadmap and grow with our customers. Robinhood has always been at the forefront of innovation for retail investing,” said Matt Billings. “I’m excited to be joining the team to build on a platform that will continue to shape and impact the next generation of investors for years to come.”
Matt joins Robinhood from Two Sigma Securities, where he “oversaw the trade and service desks, client relationships, and market structure with a particular emphasis on market data.”
Prior to that Matt led the team “overseeing market data at TD Ameritrade.”
He managed all aspects of “the firm’s market data strategy and contributed his strategic expertise in government relations and market structure.” Before TD Ameritrade, Matt managed Trading Services for Scottrade for over 10 years, “accountable for several areas including order routing and execution quality.”
Earlier this year, Robinhood shared that their Board of Directors authorized them “to pursue purchasing most or all of the 55 million remaining Robinhood shares that Emergent Fidelity Technologies, Ltd. had bought in May 2022.”
The proposed share purchase “underscored the confidence that the Board of Directors and management team have in their business and the success of this effort is another step in delivering 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, or approximately $10.96 per share.”
You may review the filed form 8-K here.