Schweiss survives Fiserv sale to TD

Skip Schweiss will stay with the legacy Fiserv Investor Support Services business after all. The long-time head of the registered investment adviser custody unit for Fiserv was retained by TD Ameritrade Institutional of Jersey City, N.J., to take over the company’s 401(k) trust custody business, which has about $10 billion. When the deal was announced last May, TD said that it had no plans for Mr. Schweiss after the closing of the deal. “We like Skip and he knows the people out there so it’s great continuity,” said J. Thomas Bradley Jr., president of TD Ameritrade Institutional. Mr. Schweiss’ marching orders for managing the unit are unequivocal, he added. “I told him to grow the heck out of it,” Mr. Bradley said.