Robinhood Adds Compliance Chiefs as Consumer Complaints Rise (1)

Robinhood Markets Inc. is bringing on two new chief compliance officers as it copes with customer complaints and regulatory scrutiny.

The stock trading startup, now valued at more than $11 billion, said in a statement that Norman Ashkenas and Kelly Zigaitis will come aboard in September to bolster the company’s brokerage industry compliance efforts. The moves come as U.S. consumer protection agencies say they have received a slew of complaints about the online brokerage.

Zigaits, who spent the past year as head of oversight and controls at Wells Fargo Advisors LLC, the brokerage unit of Wells Fargo & Co., ...