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Charles Schwab hiring over 200 in TD Ameritrade’s hometown

July 1, 2021 GMT

OMAHA, Neb. (AP) — Charles Schwab appears ready to keep significant operations in Omaha after it finishes its integration of TD Ameritrade because it is hiring more than 200 people in the city.

The new jobs will add to the roughly 2,200 people that Schwab already employs in Omaha where TD Ameritrade was based before Schwab acquired last year in a $22 billion deal. The Omaha jobs are also part of a nationwide hiring push at Schwab to fill 1,000 jobs in Texas where its new headquarters will be and another 200 jobs in California.

Schwab said the hiring is in response to increased demand for its brokerage services. It said investors opened 3.2 million new accounts during the first quarter of this year.

Dan Madott, who is Schwab’s managing director of retail strategy and analytics, said the company expects its Omaha employees to play a key role at Schwab. Currently, the company employees roughly the same number of people in Omaha that it did before the deal.

Schwab officials have said they expect the integration of TD Ameritrade to take up to three years, but they have not said how many Ameritrade jobs would be eliminated as part of the merger.