TD Waterhouse's chief in the U.S. is getting a new gig running Toronto-Dominion Bank's mutual funds. Tim Pinnington, CEO of TD Waterhouse USA took the post as senior vice president running the TD Mutual Funds in Canada on Wednesday.

Pinnington, 41, is seen as a rising star at TD, but would have been out of a job at the end of the year when the sale of the brokerage unit to Ameritrade Holding Corp. is set to become complete. He had headed the U.S. discount brokerage unit since the departure of Frank Petrilli in September of 2004.

It appears that Pinnington's move may have provoked the resignation of Steve Geist who had been running the TD Funds. According to a report published by The Globe and Mail, Geist had been offered another job at the bank but instead of accepting it, he chose to resign.  

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