TD Ameritrade Holding Corporation appointed Bharat Masrani to its board of directors. Masrani, a designee of The Toronto-Dominion Bank, was elected under the terms of TD Ameritrade's stockholders agreement. He fills a seat vacated by Kerry Peacock, who stepped down from the board.

Masrani is currently the chief operating officer for TD Bank Group, and the board of directors of TD has announced its intention that he will become group president and chief executive officer effective on Nov. 1, 2014. Additionally, in accordance with the terms of the company's stockholders agreement, Todd Ricketts will step down from the board effective Feb.

12, 2014. Ricketts' seat will be filled by an independent director. Peter Ricketts, the other director designated by the Ricketts family, will continue to serve on the board.