TD Ameritrade Fires Chief Operating Officer

Company provides no reason for the removal of Dave Kelly

Online brokerage TD Ameritrade will lose its chief operating officer later this month.

The Associated Press reports the Omaha-based company said in a notice filed with regulators Friday that Dave Kelley's employment was terminated Thursday, and Kelley will leave the company Jan.28.

According to the wire service, the notice did not offer an explanation for Kelley's departure, and an Ameritrade spokeswoman did not immediately respond to a message Friday.

Kelley has worked at TD Ameritrade since 2006, when he joined the company's retail investor group. Before becoming chief operating officer in October 2008, he served as chief information officer for a year.

AP notes Kelley worked at Merrill Lynch for 19 years before joining TD Ameritrade.

On Tuesday, the company reported its net income was $145 million, or $0.25 a share, in the quarter ended Dec. 31, 2010, up from $123 million, or $0.23 cents, a year earlier.

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