TD Ameritrade CEO Tim Hockey resigning

TD Ameritrade CEO Tim Hockey resigning
The company's board is searching for a successor.
JUL 22, 2019

TD Ameritrade Holding Corp. president and CEO Tim Hockey will leave the company by February 2020. Mr. Hockey will continue his role as TD's board of directors conducts a search for his successor. If a successor is named before the February deadline, Mr. Hockey will transition into an advisory role. TD Ameritrade provides custody and brokerage services to more than 7,000 independent registered investment advisers under its TD Ameritrade Institutional division and has roughly $650 billion under custody, according to Bloomberg. It also serves individual investors. "I believe TD Ameritrade is well-positioned to continue as an industry leader and innovator, and until my last day, 100% of my energy will be focused on helping our associates drive our strategy forward," Mr. Hockey said in a statement. "I'm intent on keeping our momentum going, and setting up my successor for long-term success." (More: TD Ameritrade CEO Tim Hockey says his exit is unrelated to M&A)​ TD chairman Joe Moglia thanked Mr. Hockey for his leadership and guiding the integration of Scottrade, which Ameritrade acquired in September 2017. (More: TD Ameritrade has cut more than 1,100 Scottrade jobs) Vice-chair Bharat Masrani added, "TD Ameritrade is an important strategic investment for TD, opening new opportunities for both organizations, and we remain confident in the business and its continued success." (More: Advisers react to Tim Hockey suddenly resigning from TD Ameritrade)

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave