TD Ameritrade President and CEO Fred Tomczyk is set to retire in September 2016, the company said in a statement Tuesday.
Tim Hockey, group head of Canadian banking and wealth management at TD Bank Group and president and CEO of TD Canada Trust, will succeed him.
Tomczyk, 60, joined TD Bank in September 2000 as executive vice president and later as president and CEO of wealth management. He then served as executive vice president of retail distribution for TD Canada Trust before moving into the role of vice chair of corporate operations for TD Bank Group in May 2002.
He joined TD Ameritrade’s board of directors in January 2006, when he helped negotiate the merger between Ameritrade and TD Waterhouse. Then in 2007, he was named chief operating officer.
Under his leadership, TD Ameritrade’s client assets have grown from $278 billion in 2008, when he was named CEO, to nearly $700 billion today. Tomczyk often spoke at TD Ameritrade’s advisor conferences, providing RIAs with his outlook on the global economy, markets, and the larger TD Ameritrade organization.
On Jan. 2, Hockey will take over Tomczyk’s presidential duties, including the firm’s retail, institutional and trading segments. He will assume the CEO role in September, gradually taking over the technology, operations, finance, human resources, legal and risk departments.