founder of Scottrade cashes TD Ameritrade shares, gives over $ 200 million to charity | David nicklaus
Riney, who is a special advisor to the president and CEO of TD Ameritrade, said Wednesday his health was good and his cancer was in remission, even though he knew “it will come back someday.”
He also said his family foundation will continue to support cancer research.
“I believe in 10 years we’ll be close to a cure,” Riney said. “My wife and I intend to put money into the effort to help research and hopefully save a lot of lives.”
Riney said he also plans to support some local charities.
“I don’t want to give the impression that this is all for Saint-Louis,” he said, “but we owe a lot to Saint-Louis and we look forward to making a significant contribution to funding the effort. to make Saint-Louis a wonderful city in which to live and work.
Riney founded Scottrade in 1980 and made it one of the largest online brokerage firms in the country from its old headquarters in Town and Country.
Until the sale to TD Ameritrade, based in Omaha, Neb., Scottrade had 1,800 employees in the St. Louis area. As it reduces overlap in corporate functions and closes some branches, TD Ameritrade laid off 495 employees in several states after the purchase, including 285 in St. Louis County, according to a notice the company provided last week. to those responsible for the economic development of the State. TD Ameritrade said it plans to maintain a significant presence, including a call center, in the St. Louis area.