Moglia, a former defensive coordinator for Dartmouth College who has been serving as an adviser for the University of Nebraska football team, will lead the expansion Virginia Destroyers in 2011.
The Destroyers will be the sixth franchise in the UFL, a professional league funded by a group of private investors.
Moglia, a Fordham University graduate who began his Wall Street career with Merrill Lynch & Co. in 1984, helped coach Dartmouth to Ivy League championships in 1981 and 1982. He also served as chief executive officer of TD Ameritrade, the third- largest U.S. retail brokerage by client assets, from 2001 to 2008.
Coaching has “been my goal and is where my heart, passion and skill set lie,” Moglia said in a statement. “I know football, but what I really know is how to bring together a team, a program and an organization in a way that enables them to win. I have done that my entire life. I am ready to do that on the football field.”
Moglia, 60, has hired former New York Giants linebackers coach Tom Olivadotti as defensive coordinator.
The UFL, with teams in Omaha, Nebraska; Orlando, Florida; Sacramento, California; Hartford, Connecticut; and Las Vegas, play games between September and November.
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