Stock-trading app Robinhood has hired a former TransferWise executive to lead its London office ahead of an upcoming launch in the UK.

The US business has hired Wander Rutgers, a financial technology executive who previously worked as head of banking and international expansion at currency exchange start-up TransferWise.

Robinhood is planning to launch its stock-trading app in the UK in 2019, although it does not currently have approval to operate from the Financial Conduct Authority.

The Silicon Valley-based firm has grown to be worth over $5bn (£3.8bn) through allowing customers to invest in stocks for free. The app also lets customers trade cryptocurrencies.

Robinhood has not publicly confirmed...