Matt Damon is New Spokesman for TD Ameritrade

TD Ameritrade announced that it is replacing its longtime spokesman and Law & Order star Sam Waterston. The replacement for Waterston is another familiar face, this one from the movie screen, and his name is Matt Damon.

Damon, the leading role in the ‘Bourne’ franchise, signed a multi-year deal to become the new spokesman for TD Ameritrade as the brokerage looks to freshen up its brand.

“Our old advertising worked well, but it was getting a little bit tired,” Fred Tomczyk, chief executive of TD Ameritrade, said.

The two men could not be any more different.

Waterston is a trained Shakespearean actor who spent 18 years playing district attorney Jack McCoy in the Law & Order television series.

Damon has made his mark in movies such as ‘Good Will Hunting,’ ‘Saving Private Ryan,’ and the ‘Bourne’ franchise. Damon was named as the 2007 Sexiest Man Alive by People.

Tomczyk said that Waterston was a fantastic spokesman for the company, especially during the financial crisis because of his no-nonsense delivery that was always steady. He also said that the company wanted to go a different direction when it came to creativity in an effort to distinguish itself from its competitors.

Waterston used to play physicist Robert Oppenheimer in a mini-series on television. He was the voice and the face of TD Ameritrade and its predecessor TD Waterhouse USA since 2003.

TD Ameritrade hired advertising agency Goodby, Silverstein & Partners back in July, which ended a 14-year relationship with Ogilvy Mather Worldwide, which is a unit of WPP.

The chief marketing officer for TD Ameritrade, Phillip Bowman, said he could not release the length of the contract with Damon but did say that it is for ‘many years.’ Damon will not be appearing in the television commercials for TD Ameritrade. Instead, he will be narrating the commercials. Waterston appeared in the commercials and narrated them when he did not appear in them.

There were anywhere from six to seven actors considered for the role but Bowman said that Damon was the easiest pick of them all.

“He’s probably one of the most talented and recognizable voices in the world right now, and we want every edge we can get for the campaign,” Bowman said.

Damon was the narrator for the 2010 movie about the financial crisis, ‘Inside Job’ and played an oil analyst in ‘Syriana.’ Damon is planning on donating money made from the advertisements to charity, much like Waterston did during the length of his contract, according to Bowman.

The first of the brand new commercials, ‘Common Sense’ is slated to air today. The advertisement has live action and animation with the voice of Damon in the background of the ad promoting TD Ameritrade and its investment consultants.