Robinhood to Add Hundreds of Representatives After Trading Surge
The Robinhood application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph. (Photographer: Andrew Harrer/Bloomberg)

Robinhood to Add Hundreds of Representatives After Trading Surge

Robinhood Financial, the online brokerage that has attracted millions of novice investors since the pandemic began, said it plans to hire hundreds of registered representatives this year for new offices in Texas and Arizona.

“We’ve more than doubled our support team since January and we’ll continue to grow our teams to provide timely, helpful responses to our customers,” Alex Mesa, Robinhood’s head of customer experience, said Tuesday in a blog post.

The Southlake, Texas, and Tempe, Arizona, offices will open after pandemic restrictions are lifted, a company spokesperson said. Until then, new hires will continue to work remotely. The Menlo Park, California-based firm has more than 1,000 employees and existing offices in Denver, London and Lake Mary, Florida.

Robinhood said earlier this year it planned to expand its customer support efforts after the app drew scrutiny following a young user’s suicide. That led to questions about the firm’s responsibility in supporting its customers, many of whom are new to financial markets.

“It is not lost upon us that our company and our service have become synonymous with retail investing in America, and that this has led to millions of new investors making their first investments through Robinhood,” founders Baiju Bhatt and Vlad Tenev said in a blog post in response to 20-year-old Alex Kearns’s suicide in June. “We recognize this profound responsibility, and we don’t take it lightly.”

The company plans to hire more than 100 employees in both Tempe and Southlake by year-end, the spokesperson said.

©2020 Bloomberg L.P.

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