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Ameritrade names CEO
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March 5, 2001: 9:23 a.m. ET
Online broker picks Joe Moglia of Merrill Lynch to succeed Ricketts
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NEW YORK (CNNfn) - Online brokerage Ameritrade Holding Corp. appointed Joe Moglia its new CEO Monday, ending a seven-month search.
Moglia, the senior vice-president of Merrill Lynch and head of the investment performance and product group for private clients, succeeds Joe Ricketts, founder of Omaha, Neb.-based Ameritrade, who stepped in after the sudden departure of Thomas Lewis last August. Lewis' resignation came just three months after Ricketts had stepped aside to make him the sole CEO.
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"Joe is a perfect fit for Ameritrade," Ricketts said. "The board and I are so enthused by the wealth of experience he brings, and the common vision he shares. From his experience at Merrill, Joe commands a unique insight on the brokerage industry, and an energizing management style."
Moglia, who joined Merrill Lynch in 1984, will stay on with the brokerage house during a brief transition, and will formally join Ameritrade (AMTD: Research, Estimates) later in the month.
Shares of Ameritrade gained 69 cents to $8.94 in trading Friday. 
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