New TD Ameritrade CEO Hockey to boost tech spend by 25 percent

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By John McCrank
| NEW YORK

NEW YORK TD Ameritrade Holding Corp is boosting its technology spending by around 25 percent in an effort to increase the speed and scope of technological innovation at the No. 1 online broker by trading volume, its chief executive officer said on Tuesday.

The move comes as “fintech” firms attempt to shake up the financial services sector through new technologies like blockchain, cloud computing and robo-advisers, offering cheaper alternatives to traditional money management.

“We were the original fintechs,” Tim Hockey, CEO of TD Ameritrade, said in an interview, referring to discount brokerages in general, as well as the company’s development of an online investment adviser, Amerivest, in 2004, well ahead of the current crop of robo-advisers.

Hockey, who took over as CEO on Oct. 1, said one of his top goals was to “speed up…

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