Charles Schwab Completes Its $22 Billion Purchase of TD Ameritrade
Charles Schwab has completed its roughly $22 billion acquisition of rival broker TD Ameritrade.
The companies said the deal was completed last Tuesday although it will take another 18 to 36 months to integrate the two firms. The deal was announced last November – not long after both brokers eliminated commissions on most stock trades.
In January, the combined company will move its headquarters to Schwab’s new campus in Westlake, Texas, but it will keep substantial operations in Schwab’s current base of San Francisco. It is unclear how many jobs will be eliminated at Omaha.
Schwab President and CEO Walt Bettinger said the company will stay focused on making investing accessible to all with low costs and great service.
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