Ameritrade has created a new bifurcated corporate structure. The Omaha, Nebraska-based firm has divided its services into two branches: Institutional and Private Client. In addition, the positions of chief administrative officer and chief strategy officer have been created.

Kurt Halvorson, most recently president of the firm's clearing subsidiary, Advanced Clearing, is now chief administrative officer.

Phylis Esposito has joined Ameritrade as chief strategy officer. She had previously served as senior partner of management consultants Mathias & Company.

Vince Passione, formerly president and chief executive officer of the OnMoney subsidiary, heads the institutional division and its client products and service group, and co-brands/sales department. Pete Ricketts, formerly interim president of Ameritrade, Inc., now heads the private client division and heads its business planning and client products and service departments.

The institutional division includes all non-retail businesses. At press time, a spokesman for the firm was unable to name the current head of each business.

TradeCast(R) by Ameritrade -- order management for broker/dealers, hedge funds, and money managers

Ameritrade Corporate Services -- employee benefits

Ameritrade Retirement Services -- online self-directed brokerage for 401(k) providers

Ameritrade International -- offshore trading of US securities

Ameritrade RIA Services

Ameritrade Correspondent Sales Clearing Group

Despite the name, the private client division is not tailored to serve high net worth clients. Rather, it concentrates on retail trading and includes the following businesses:

Ameritrade(R) Brokerage -- basic brokerage

Ameritrade Plus(TM) -- brokage with added tools and services

Ameritrade Pro(TM) -- for active traders

Freetrade(TM) by Ameritrade -- basic exclusively electronic trading

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE