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Ameritrade Picks Moglia as CEO

Ameritrade Holding Corp. Monday named Joseph Moglia as its new chief executive officer.

The appointment of Moglia, a senior vice president in Merrill Lynch & Co. Inc.'s private client group, concludes a seven-month search to replace Thomas Lewis who resigned last August for personal reasons.

Founder Joe Ricketts, who is also chairman of the Omaha, Neb.-based company, had been serving as interim CEO since Lewis' departure. Ironically, the resignation came a mere three months after Ricketts stepped aside to make Lewis Ameritrade's sole CEO. Ricketts will continue as chairman of the online brokerage.

Moglia will join Ameritrade after 17 years at Merrill Lynch, where he was the company's top institutional salesperson. In 1992 he was named head of global fixed institutional sales. In 1995 he took on the firm's municipal division until moving to private client in 1997.

Prior to joining Merrill Lynch, he was the defensive coordinator for Dartmouth College's football team, and wrote a book on football as well as 11 articles for national coaching journals.

Commenting on his new position, Moglia stated that he will concentrate on energizing Ameritrade's business by leveraging the company's technology backbone.

"Client focus is the future of the brokerage industry," he noted. "Responding to clients' needs will help us drive innovation and distribution, and accelerate the value we can deliver to customers and shareholders."

Moglia will officially join Ameritrade later this month.