TD Ameritrade Suspends Search For New CEO After Schwab Deal

By Colin Kellaher

TD Ameritrade Holding Corp. (AMTD) on Monday said it has suspended its search for a new chief executive after the discount broker agreed to be acquired by rival Charles Schwab Corp. (SCHW) in a $26 billion stock deal.

The Omaha, Neb., company launched the search in July after announcing that its current CEO, Tim Hockey, planned to step down by the end of February.

TD Ameritrade said Stephen Boyle, currently executive vice president and chief financial officer, will serve as interim president and chief executive, effective immediately.

The company said Mr. Boyle will guide its management team through its fiscal 2020 plan and the proposed integration with Schwab.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 25, 2019 06:36 ET (11:36 GMT)

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