AMTD TD Ameritrade Holding Corporation

By Carolyn King 

TORONTO--Toronto-Dominion Bank on Tuesday said Tim Hockey, who currently heads the Canadian bank's domestic banking and wealth-management operations, will leave the bank next year to become the top executive at its TD Ameritrade Holding Corp. affiliate.

The announcement was one of several changes the Toronto-based bank is making to its executive ranks, including naming Riaz Ahmed as chief financial officer. The bank's current financial chief, Colleen Johnston, will become group head of Direct Channels, Technology, Marketing, and Real Estate, TD said in a statement.

Canadian banks are looking to manage costs as they grapple with slowing growth in their core domestic operations.

TD, which is Canada's largest bank by assets, has previously signaled that cost-cutting will be a big focus this year. Since its chief executive, Bharat Masrani, took the helm about a year ago, the bank has announced a review of operations and cut certain management jobs.

In addition to its 41% stake in TD Ameritrade, TD has a significant retail-banking network in the U.S.

It said Tuesday that Mr. Hockey, 52 years old, who has been with the bank for more than 30 years, will assume the title of president at TD Ameritrade on Jan. 2 from Fred Tomczyk. After a transition period, he will also take the title of chief executive when Mr. Tomczyk retires on Sept. 30, 2016.

TD said Teri Currie, who currently heads the parent company's Direct Channels, Technology, Marketing and People Strategies, will take on the title of group head of Canadian Personal Banking at TD.

That appointment, like those of Mr. Ahmed and Ms. Johnston, will be effective Jan. 2, 2016.

Mr. Tomczyk, 60 years old, joined the board of TD in 2006 after its acquisition of TD Waterhouse USA. He became operations chief in 2007 and was elevated to the CEO role in the fall of 2008.

TD Ameritrade has seen its trading activity boosted lately by volatility in the global markets.

Chelsey Dulaney contributed to this article.

Write to Carolyn King at carolyn.m.king@wsj.com

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(END) Dow Jones Newswires

November 10, 2015 10:00 ET (15:00 GMT)

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