Joe Moglia to Assume TD AMERITRADE Chairmanship in Fiscal 2009; Fred Tomczyk Named Next CEO
2008-05-16 00:22:54 -
www.amtd.com - TD AMERITRADE Holding Corporation For Media: Kim Hillyer, 402-206-1014 Manager, Communications & Public Affairs kim.hillyer@tdameritrade.com or For Investors: Tim Nowell, 402-597-8440 Director, Investor Relations timothy.nowell@tdameritrade.com The board of directors of TD AMERITRADE Holding Corporation (NASDAQ: AMTD) has approved the appointment of Joe Moglia, the Company's current chief executive officer, to the role of chairman, effective Oct. 1, 2008.
The board has also approved the promotion, effective immediately, of Fred Tomczyk, the Company's chief operating officer, to president and COO, and has elected him to become the firm's next CEO when Moglia assumes the chairmanship in October. The board expects a smooth transition, given Tomczyk's leadership on the development and implementation of the firm's long-term growth strategy.
Under Moglia's leadership, the Company's market capitalization grew from $700 million in 2001 to more than $12 billion today. Moglia led the growth and development of TD AMERITRADE as it became one of the largest brokerage firms in its space and the industry leader in the number of online equity trades placed each day. He led an aggressive acquisition strategy that included nine deals within his seven-year tenure, the two largest being Datek Online Holdings in 2002 and TD Waterhouse Group, Inc. in 2006. His leadership skills and charisma have inspired the Company's management and associates to take immense pride in the firm's mission and success under his guidance.
"TD AMERITRADE has accomplished so many things since I joined the firm, delivering five consecutive years of record profitability and, most recently, launching a new era for TD AMERITRADE as an asset-gatherer," said Moglia. "I truly couldn't imagine a better successor than Fred Tomczyk. I look forward to continuing our professional relationship and serving our shareholders as TD AMERITRADE's new chairman of the board."
Tomczyk joined the Company in July 2007 as COO and has been responsible for the Company's operations, technology, retail sales functions and registered investment advisor channel. He previously served as an original member of the TD AMERITRADE board of directors upon the Company's acquisition of TD Waterhouse in January 2006 and played a key role in helping define the firm's growth strategy.
"Our focus is and continues to be on a growth strategy centered on maintaining our leadership position in trades placed per day, continued success with asset gathering and meeting the long-term financial needs of our clients," Tomczyk said. "In the last six months we have demonstrated positive progress, but there are many more opportunities available to us. I believe we can become the investment firm of choice for the typical American family, and I look forward to helping each and every one of our associates play a role in making that happen."
Tomczyk was a key component of TD Bank Financial Group's executive leadership team from 2000 to 2007, during which time he led the bank's retail branch network and wealth business and served as vice chairman of corporate operations. Prior to joining TD Bank, Tomczyk was the president and CEO of London Life. He has a Bachelor of Science, Applied Economics & Business Management degree from Cornell University and currently serves on the university's undergraduate business program advisory council.
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About TD AMERITRADE Holding Corporation
TD AMERITRADE Holding Corporation, through its brokerage subsidiaries(1), provides a dynamic balance of investment products and services that further the Independent Spirit of individual investors. Listed by Forbes as one of America's best big companies, the Company's full spectrum of services include a leading active trader program and long-term investor solutions, including a national branch system, as well as relationships with one of the largest networks of independent registered investment advisors.(2) The Company's common stock trades under the ticker symbol AMTD. For more information, please visit www.amtd.com.
Safe Harbor
This document contains forward-looking statements within the meaning of the federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws. In particular, any projections regarding our future revenues, expenses, earnings, capital expenditures, effective tax rates, client trading activity, accounts or stock price, as well as the assumptions on which such expectations are based, and future operations are forward-looking statements. These statements reflect only our current expectations and are not guarantees of future performance or results. These statements involve risks, uncertainties and assumptions that could cause actual results or performance to differ materially from those contained in the forward-looking statements. These risks, uncertainties and assumptions include general economic and political conditions, interest rates, market fluctuations and changes in client trading activity, increased competition, systems failures and capacity constraints, ability to service debt obligations, regulatory and legal matters and uncertainties and other risk factors described in our latest Annual Report on Form 10-K, filed with the SEC on Nov. 26, 2007 and the latest Quarterly Report on Form 10-Q, filed with the SEC on May 9, 2008. These forward-looking statements speak only as of the date on which the statements were made. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
(1) TD AMERITRADE, Inc., member FINRA (www.FINRA.org) /SIPC (www.SIPC.org), receives clearing and custodial services from TD AMERITRADE Clearing, Inc., member FINRA/SIPC. The Toronto-Dominion Bank has an investment in TD AMERITRADE Holding Corporation.
(2) More info on the Forbes award is available at www.forbes.com/platinum.
Smooth Transition; No Change to Strategy
