“Frank Petrilli, president and chief executive officer of TD Waterhouse USA, this afternoon announced plans to retire from the discount brokerage firm. Mr. Petrilli, 53 years old, told staff in an e-mail that he will step down some time during the next year, according to a person familiar with the matter,” writes Susanne Craig in today’s Wall Street Journal.

“Mr. Petrilli had been at the firm for almost 10 years, holding the top job for almost the entire time. He will continue in his role as chief executive for the next several months to ensure an orderly transition, according to this person. He has no plans to move to another firm at this time, this person said.”

“Mr. Petrilli made headlines in 1999 when he briefly left Waterhouse for a job at rival E*Trade Financial Corp. But after just few days at E*Trade he quit to head back to Waterhouse. Mr. Petrilli, through a spokeswoman, declined to comment.”

“TD Waterhouse, a division of Canada’s Toronto-Dominion Bank, has tapped two executives to strengthen its executive team. Tim Pinnington, 39, CEO of TD Waterhouse UK, will move into the position of vice chairman and chief operating officer, and Chris Armstrong, 55, formerly executive vice president and chief marketing officer at TD Bank, becomes vice chairman of sales and marketing. “The addition of this exceptional executive talent to the already strong leadership team is an indication of the importance of the U.S. business to TD Bank,” said a company spokeswoman.”