(Bloomberg) -- TD Ameritrade named Toronto-Dominion Bank’s Tim Hockey as its next chief executive officer, prompting an executive shuffle at Canada’s largest lender by assets.

Hockey, 52, who is group head of Canadian banking and wealth management at the Toronto-based lender, becomes TD Ameritrade president on Jan. 2 and will take over as CEO when Fred Tomczyk, 60, retires on Sept. 30, the Omaha, Neb.-based brokerage said Tuesday in a statement. Toronto-Dominion owns 41% of TD Ameritrade, which contributed about 4% of the lender’s profit last year.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access