Former CEO Joe Moglia proving coaching chops at Coastal Carolina
By Monte Burke, Special to SI.com Posted: Fri November 22, 2013 9:43AM; Updated: Fri November 22, 2013 9:43AM
Moglia quickly became the top salesman at Merrill, and eventually worked his way up the corporate ladder to just a few rungs from the very top. In 2001 he made a risky jump, becoming the CEO of what was then known as Ameritrade, the online trader that looked, at the time, like a crisp cinder falling back to earth after the fireworks of the dot-com bubble bust. What later became known as TD Ameritrade grew from a $700 million company to one worth $10 billion in just seven years under Moglia's leadership. Perhaps most impressively, Moglia -- despite much pressure from investors -- refused to deal in subprime mortgages, which caused the bubble that nearly led the world off the financial cliff. In those dark days in 2008, when competitor E-Trade lost $1.3 billion and Moglia's former employer, Merrill Lynch, lost $28 billion, TD Ameritrade actually made a profit of $800 million.
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He was viewed as some rich kook looking for a diversion. Moglia spent two seasons as an unpaid "shadow" coach at the University of Nebraska, catching up on the game and beefing up his resume. Still, no one bit.
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