TD Ameritrade CFO Bill Gerber to get $2.5 mln retirement package

Thu Feb 5, 2015 6:24pm EST
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NEW YORK Feb 5 (Reuters) - William Gerber, chief financial officer of TD Ameritrade Holding Corp for the last eight years, will receive a $2.5 million retirement package when he leaves the discount brokerage firm at the end of September, the company said in a quarterly regulatory filing on Thursday.

Gerber, 56, began his career at TD Ameritrade in 1999 as director of finance and was promoted to CFO in 2006. He will be paid in four installments through January 2019 and, in addition, receive regular pay and bonuses in cash based on his performance in the company's fiscal 2015 year that ends on September 30.

In 2014, Gerber earned $1.636 million in salary, bonuses and deferred stock, according to TD Ameritrade's proxy statement filed last month.

Gerber oversees investor relations, business development, accounting, business planning, external and internal reporting, tax and strategy at the company. An eight-year veteran of accounting firm Coopers & Lybrand (now PricewaterhouseCoopers), he played a major role in evaluating acquisitions that have made TD Ameritrade the biggest discount brokerage firm by number of trades its clients make. Charles Schwab Corp. is larger by market value and client assets.

Canada's Toronto-Dominion Bank owns 41 percent of TD Ameritrade Holding. (Reporting By Jed Horowitz; editing by Gunna Dickson)