E-Trade Group Inc. has hired Frank J. Petrilli, president of Toronto-Dominion Bank's U.S. discount brokerage operation.

Mr. Petrilli, 48, was appointed president of E-Trade Securities Inc. and will be responsible for retail brokerage, asset management, and the broker's clearing businesses, a spokesman said Monday. He is expected to join E-Trade within several weeks and will succeed Kathy Levinson, who has been promoted president and chief operating officer of E-Trade Group, the parent company.

TD Waterhouse promoted Keith Gray, 63, to replace Mr. Petrilli, effective immediately, a spokeswoman said.

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