Robinhood Taps Former Fidellity, Wells Fargo Execs as Compliance Heads
Robinhood (Opture Design/Shutterstock)
Trading platform Robinhood announced on Thursday it hired two executives to lead compliance work on its financial and securities teams.
- According to an announcement posted on Robinhood’s website, Norm Askensas, formerly head of compliance for Fidelity Institutional, will lead compliance for the company’s financial team.
- In addition, Kelly Zigatis, former head of oversight and control at Wells Fargo Advisors, shall do so for Robinhood’s securities team.
- Both of the new compliance executives are expected to join the firm in September, Robinhood said. Earlier this month, Robinhood had also announced the completion of a Series G funding round which raised $200 million for the firm, taking its overall valuation to $11.2 billion.
- In December 2019, the Financial Industrial Regulatory Authority (FINRA) had imposed a $1.25 million fine on Robinhood because it found the trading platform, which is known for offering zero-commission trades, had failed to ensure its customers were receiving the best deal on their orders.
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