Savings and Investment
The Freetrade co-founder is said to be leaving on good terms, just nine months after Revolut launched its stock trading feature.Image source: Revolut's trading interface.
Just 18 months after joining, Revolut’s head of wealth and trading André Mohamed is set to leave the digital banking giant.
The news, first reported by Financial News, comes amid a boom in mobile trading with trading apps among the most downloaded apps during the month of March.
Services like Freetrade and Stake are democratising stock market access for tens of thousands of new investors with their low-cost trading models, an attractive proposition for contrarian investors during these times of market volatility.
The recent decision of US free trading giant Robinhood to further delay its UK launch (exclusively revealed by AltFi) has further left the sector open for trading upstarts like Revolut.
Mohamed’s arrival at Revolut in January 2019 made waves as he came from trading rival Freetrade, where he was previously listed as a co-founder and had departed in June 2018.
Revolut CEO Nikolay Storonsky had spoken about offering share trading since as far back as 2017, but the feature was finally realised under Mohamed’s leadership in August 2019.
AltFi understands that Mohamed’s upcoming departure is on good terms, and comes amid his decision to take his career in a new direction.
Revolut is currently recruiting for a new head of wealth and trading.
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