TD Ameritrade announced today that two senior executives are headed for the door as the company forms a Senior Operating Committee that "replaces the Office of the Chief Executive," the Omaha-based company said in a statement released today. This new committee includes the chief financial officer, general counsel, chief information officer as well as heads of the company's various institutional and retail client divisions. The new reporting structure, and the resulting effect on CEO Joe Moglia's position, remains unclear.

Randy MacDonald, the firm's chief operating officer, will leave the company on June 1, after the scheduled completion of TD Ameritrade's ongoing "clearing conversion." Since last year's merger of Ameritrade and TD Waterhouse, the company has been working to integrate the two disparate client bases brought to the table by both companies. Today's statement by the company did not discuss the reasons for MacDonald's departure and TD Ameritrade has also not announced MacDonald's replacement, saying it would consider candidates from both inside and outside the company.

Asiff Hirji, who has also served as chief operating officer and is now president of the company's Client Group, will leave the company, effective April 1. According to the released statement, Hirji is relocating to San Francisco, where he will resume a prior career in the private equity industry. Christ Armstrong, who was previously the company's chief strategy officer, will take  Hirji's place.