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Charles Schwab-TD Ameritrade Merger Means HQ Move to Westlake
With Charles Schwab’s $26-billion acquisition of rival broker TD Ameritrade expected to close this week, the combined company plans to move its headquarters to Schwab’s new campus in Westlake. Timing on the move wasn’t immediately clear, although the combined company is expected to maintain sizeable operations in Schwab’s home base of San Francisco.
Schwab and TD Ameritrade haven’t said how many jobs are expected to be eliminated after the merger, but significant cost cuts are expected, the Dallas Morning News reported. The two companies say integration will take 18 to 36 months.
Last November, the Dallas Morning News reported that Schwab’s $100-million Westlake campus, part of Hillwood’s Circle T Ranch development, covers 500,000 square feet on more than 70 acres of land that it bought in June 2016. Omaha-based TD Ameritrade moved 1,800 employees into a nearby 78-acre, $123-million campus in Southlake in 2018.
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