TD Ameritrade Doesn’t See Acquisitions Right Now, CEO Says
TD Ameritrade Holding Corp., the third-largest retail brokerage by client assets, is focused “totally” on organic growth and isn’t looking at any acquisitions, Chief Executive Officer Fred Tomczyk said.
“Right now, we don’t see anything that makes strategic and financial sense,” he said today at a Goldman Sachs Group Inc. conference in New York. The company will continue to look for acquisitions, he said.
The company’s 2011 strategy includes increasing its asset- gathering and trading, while maintaining expenses, according to today’s presentation. Tomczyk said he will continue to look for ways to return capital to TD Ameritrade shareholders through a buyback plan and the 5-cent quarterly dividend introduced this year.
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