TD Ameritrade Holding Corporation (NASDAQ: AMTD) has updated the structure of its management team as it seeks to extend its leadership position in the trading business, continue its success as an asset gatherer and better position itself for future growth.
These changes come as Fred Tomczyk, the Company's president and chief operating officer, transitions to the role of president and chief executive officer on Oct. 1, 2008.
On Oct. 1, 2008, Dave Kelley, the Company's chief information officer, will assume the role of chief operating officer. Kelley, who has been with TD AMERITRADE since 2006, will have responsibility for technology, brokerage operations and a new, expanded project management organization. He will report directly to Tomczyk.
In the interest of greater efficiency and effectiveness, the Company has also reorganized its executive leadership group, the Senior Operating Committee, to include the following members, all of whom will report directly to Tomczyk:
* Chris Armstrong - Executive Vice President, Product Management and Marketing
* Tom Bradley - President, TD AMERITRADE Institutional
* John Bunch - President, Retail Distribution
* Karen Ganzlin - Chief Human Resources Officer
* Bill Gerber - Chief Financial Officer
* Dave Kelley - Chief Operating Officer
* Ellen Koplow - General Counsel
"Each member of our management team has influenced the formation and implementation of our growth strategy, creating a stronger organization that is well-positioned for future growth," said Tomczyk. "Together, we will take the next steps in our Company's evolution, wrapping our wide breadth of financial tools, products and services with an exceptional client experience that will make us the investment firm of choice for American families."
Bryce Engel, the Company's chief brokerage operations officer, has decided to leave the firm after 12 years of service. Engel will stay on as an advisor to Tomczyk through Nov. 1, 2008, to ensure an orderly transition. He will then move on to the next phase of his career. His duties, which include back-office support for the Company's retail client service, institutional and clearing business units, will be transitioned as appropriate throughout the organization.
On Oct. 1, 2008, Joe Moglia will become chairman of the TD AMERITRADE board of directors, Tomczyk will join the board as the Company's new CEO, and Thomas Mullin will step down as a director. The board has expressed its appreciation for his service and commitment. Allan Tessler will fill Mullin's role on the board's audit committee.