Ameritrade CFO Anticipates More Sector M&A Activity In Next Year
November 16 2010 - 12:03PM
Dow Jones News
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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