Timothy F. McCarthy, president and chief operating officer of Charles Schwab Corp.'s brokerage unit, has left the San Francisco company.
Mr. McCarthy said he plans to pursue opportunities with firms involved in acquiring and turning around financial services data providers.
Commenting Wednesday on his departure earlier in the week, Mr. McCarthy said he wanted a more entrepreneurial role and has spoken to a number of leveraged buyout companies.
"I'm No. 3 at Schwab, and I was going to be No. 3 for some time," he said, adding that his departure was amicable.
Mr. McCarthy, 46, had been at Schwab for two years and had previously done stints at Jardine Fleming Unit Trust in Hong Kong and Fidelity Investments of Boston.
He had been president of the brokerage, Charles Schwab & Co., since October, when he was promoted amid a wave of high-level reshufflings.
Before that he headed Schwab's mutual fund operations, where he was responsible for the firm's effort to market its successful mutual fund supermarket product OneSource through banking channels. Tom Seip now heads that area.
David S. Pottruck, who was promoted to co-chief executive officer of the firm in October, shortly after Mr. McCarthy's promotion, will take over his duties, the company said.