Ameritrade CFO Anticipates More Sector M&A Activity In Next Year

Date : 11/16/2010 @ 12:03PM
Source : Dow Jones News
Stock : Interactive Brokers Grp., Inc. (MM) (IBKR)
Quote : 35.185  -0.065 (-0.18%) @ 2:28PM

Ameritrade CFO Anticipates More Sector M&A Activity In Next Year

TD AmeriTrade Holding Corp. (NASDAQ:AMTD)
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TD Ameritrade Holding Corp. (AMTD) Chief Financial Officer Bill Gerber said he wouldn't be surprised see more mergers and acquisitions among online brokerages over the next 12 months.

Speaking to investors at the Bank of America Merrill Lynch Banking and Financial Services Conference, Gerber was asked about M&A activity after Interactive Brokers Group (IBKR) recently disclosed--through legal entities that control the company--owning a 6.3% stake in rival TradeStation Group Inc. (TRAD).

Gerber said TD Ameritrade will "always look" at acquisition opportunities where they have the right strategic fit. The company previously said it would be interested in rival E*Trade Financial Corp.'s (ETFC) brokerage operations if such a deal had the right structure and made sense for shareholders.

Shares of TD Ameritrade were recently up 5 cents at $17.34.

-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@dowjones.com

 
 

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