Toronto-Dominion Bank

Last updated

Toronto-Dominion Bank
TD Bank Group
Company type Public
ISIN CA8911605092
Industry Financial services
Predecessors
FoundedFebruary 1, 1955;69 years ago (1955-02-01) [note 1] [1] [2] [3]
Headquarters
Key people
 Bharat Masrani (CEO)
Services
RevenueIncrease2.svg CA$57.23 billion (2024) [4]
Decrease2.svg $8.84 billion (2024) [4]
AUM Increase2.svg $541.5 billion (2024) [4]
Total assets Increase2.svg $2.06 trillion (2024) [4]
Total equity Increase2.svg $115.2 billion (2024) [4]
Number of employees
103,762 (FTE, 2024) [4]
Divisions TD Canada Trust
Subsidiaries
Website www.td.com/ca/en/about-td/

Toronto-Dominion Bank (French: Banque Toronto-Dominion), doing business as TD Bank Group (Groupe Banque TD), is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. The bank was created on February 1, 1955, through the merger of the Bank of Toronto and the Dominion Bank, which were founded in 1855 and 1869, respectively. It is one of two Big Five banks of Canada founded in Toronto, the other being the Canadian Imperial Bank of Commerce.

Contents

In 2021, according to Standard & Poor's, TD Bank Group was the largest bank in Canada by total assets and also by market capitalization, a top 10 bank in North America, and the 23rd largest bank in the world. [5] In 2019, it was designated a global systemically important bank by the Financial Stability Board. [6] In 2023, the company was ranked 43rd in the Forbes Global 2000. [7]

The bank and its subsidiaries have over 89,000 employees and over 26 million clients worldwide. [8] In Canada, the bank operates through its TD Canada Trust division and serves more than 11 million customers at over 1,091 branches. In the United States, the company operates through their subsidiary TD Bank, N.A., which was created through the merger of TD Banknorth and Commerce Bank. TD Bank serves more than 6.5 million customers in the United States with a network of over 1,200 branches in 16 states and the District of Columbia. [9]

History

The Bank of Toronto's 1893 headquarters Bank of Toronto 1868.jpg
The Bank of Toronto's 1893 headquarters
The Dominion Bank's 1879 headquarters Dominion Bank Building (1879).png
The Dominion Bank's 1879 headquarters

The predecessors of the Toronto-Dominion Bank, the Bank of Toronto, and the Dominion Bank were established in the mid-19th century, the former in 1855 and the latter in 1869. [10] In 1954, an agreement was reached to merge the two financial institutions. The merger was later accepted by the Canadian minister of Finance on November 1, 1954, and was made official on February 1, 1955. The new institution adopted the name Toronto-Dominion Bank. [10] The two banks were of similar size, and had healthy balance sheets at the time of the merger. The two banks were among Canada's smaller banks. Their desire merge was to compete with the larger banks. The combined Toronto-Dominion became the fourth largest bank in Canada with assets if $1.1 billion. [11]

In 1967, TD Bank opened its new head office, the Toronto-Dominion Centre in downtown Toronto. [10] In the next year, the bank entered into a partnership with Chargex (later known as Visa Inc.). [10] The TD Bank shield logo was unveiled to the public near the end of the decade, in 1969. [10]

In 1976, TD Bank piloted its first automated teller machine (ATM), the TD 360, which was renamed the Green Machine, a name it continues to carry. [12]

In 1987, Toronto Dominion Securities Inc. was established by the bank. [10] TD Bank saw growth in the 1990s, with the acquisition of several financial assets including the commercial branches of Standard Chartered Bank of Canada. In 1992, the bank acquired the assets and branches of Central Guaranty Trust, as well as Waterhouse Investor Services in 1996.

In 1992, TD Bank and G4S Cash Solutions, a subsidiary of British security services company G4S plc, began a pilot project in Toronto that developed into a nationwide partnership in 1997. G4S Cash Solutions secured the contract to transport cash and provide first-line maintenance for the bank's ATMs – both cash dispensing and deposit pick up units." By 2010, the partnership had expanded where G4S Cash Solutions operated 2,577 ATMs, 1,093 branch night deposits, 95 weekly balanced cash dispensers as well as eight cash dispensers for branch tellers and 100 across the pavement services and hosted a discussion on the introduction of polymer banknotes in 2011 with leading Canadian financial institutions. [13]

TD Bank formed a partnership with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) in 1996 to create Symcor, a private entity that offers transaction services such as item processing, statement processing and cash-management services to major banks and retail and telecommunications companies in Canada. In 2011, Symcor produces close to 675 million statements and more than two billion pages of customer statements, and processes three billion cheques annually. [14] [15]

A TD Canada Trust branch. Canada Trust was acquired in 2000, and presently serves TD's Canadian commercial banking operations. TDCanadaTrustBay.jpg
A TD Canada Trust branch. Canada Trust was acquired in 2000, and presently serves TD's Canadian commercial banking operations.

In 1998, TD Bank and the Canadian Imperial Bank of Commerce agreed to a merger. However, the Government of Canada, at the recommendation of then Minister of Finance Paul Martin, blocked the merger, as well as another proposed merger between the Bank of Montreal and the Royal Bank of Canada – believing it was not in the best interest of Canadians. [16]

In 2000, Toronto-Dominion Securities bought Newcrest Capital for CA$224 million (75 per cent in stock and 25 per cent in cash). [17] In the same year, TD Bank also acquired Canada Trust, re-branding most of its commercial banking operations in Canada as TD Canada Trust.

Ultimately Martin would approve the merger of TD and Canada Trust with some conditions. The new bank sold Canada Trust's MasterCard business to meet the demands of the Competition Bureau due to the fact that TD issued Visa cards at the time and Canada Trust issued MasterCard and competition rules at the time prevented a single institution from the duality of selling both brands simultaneously. [18] The Competition Bureau also forced the sale of 13 branches, representing over 120,000 customers, in three Ontario markets where the territories of TD and Canada Trust overlapped. The vast majority of the affected branches were in the Kitchener-Waterloo area, including four in Kitchener, two in Waterloo, four in Cambridge and one in Elmira. All but one branch were sold to the Bank of Montreal for $50 million. The remaining branch in Paris, Ontario, was sold to Laurentian Bank of Canada. In all six TD branches and seven Canada Trust branches specifically changed hands to meet the Competition Bureau's requirements. [18]

In response, TD announced it would close 275 branches, representing 4,900 employees, to adhere to the ruling and to reduce overall costs. The Canadian Federation of Independent Business said the Competition Bureau's decision to ultimately approve the deal would reduce consumer choice while eliminating the chance to create a second-tier of Canadian banking by killing off the Trust industry in Canada. [19]

21st century

In 2002, TD Bank acquired Stafford Trading and Letco Trading. In the following year, TD Bank acquired Laurentian Bank's retail branches west of Quebec.

A TD Bank, N.A. branch in New York City. TD Bank expanded into the United States in the early 21st century. MTA Flatbush South 76 - TD Bank.jpg
A TD Bank, N.A. branch in New York City. TD Bank expanded into the United States in the early 21st century.

In 2004, TD Bank entered the American retail banking market, announcing an agreement to acquire the majority stake of Banknorth, a New England–based bank, for a total of US$3.8 billion. [20] Banknorth was later rebranded as TD Banknorth after the sale was finalized in March 2005.

In January 2006, the company sold its United States brokerage business branded as TD Waterhouse, which it had purchased in 1984, to Ameritrade. The business was renamed TD Ameritrade.

In April 2007, TD Bank acquired all remaining shares of TD Banknorth, transforming TD Banknorth into a fully owned subsidiary of TD Bank, and resulting in it being no longer traded on the New York Stock Exchange. [21] In the same year, TD Bank acquired Commerce Bancorp, a bank based in Cherry Hill, New Jersey. Commerce Bancorp was later merged with TD Banknorth to form TD Bank, N.A. in 2008.

In 2010, the bank acquired the Florida-based Riverside National Bank of Fort Pierce; and the South Financial Group Inc. In the following year, TD Bank acquired Chrysler Financial, which was later rebranded as TD Auto Finance. [22] On December 1, 2011, TD Bank acquired MBNA's Canadian credit card business. [23] In October 2014, Affiliated Computer Services, a subsidiary of Xerox, acquired Symcor's U.S. operations from TD Bank. [24]

After Moody's Investor Service downgraded the credit worthiness of Royal Bank of Canada to Aa1 on December 13, 2010, TD Bank remained the only one of Canada's Big Five banks with a top Aaa credit rating at that point in the Great Recession (at the time, CIBC was Aa2, Scotiabank was Aa1 and Bank of Montreal was Aa2). [25] It is also ranked number 1 by profit in the Top 1000 2012 listing. [26]

From 2014 to 2015, TD went through a minor restructuring which included job cuts and other cost-cutting measures, under the leadership of Bharat Masrani, which kept the stock price on a stable upward trend. [27]

In April 2020 it became apparent that TD Bank was a significant secured creditor involved in the voluntary administration of the Virgin Australia airline, which has debts of A$7 billion. The Virgin administrators declared TD Bank held an all present and after-acquired property charge over substantially the whole of the property of certain entities of the airline. [28]

In March 2021, TD Bank agreed to buy Headlands Tech Global Markets LLC from Headlands Technologies to enhance its automated fixed income trading platform. [29] [30]

Bloomberg reported that TD Bank, along with Canada's other large banks, added ESG measures to their chief executive officers' compensation plans. [31]

On February 28, 2022, TD made a US$13.4 billion offer for First Horizon Corp., with 1,159 branches, expected to be completed in February 2023. This would be the second-largest bank deal since the Great Recession in the United States. As of December 31, 2021, TD had US$423.65 billion in U.S. assets, making it the ninth largest bank in the United States. If completed the deal would give TD 1,560 branches in 22 U.S. states. [32] On May 4, 2023, it was announced that the deal would not proceed due to regulatory uncertainty. [33]

In July 2022, TD Bank announced it was evaluating a takeover of US brokerage firm Cowen. [34] The following month, TD agreed to buy Cowen for US$1.3 billion in an all-cash deal, paying Cowen shareholders US$39 per share. [35] TD announced that Cowen chair and CEO Jeffrey Solomon would join the senior leadership of TD's securities division following the acquisition, and that the combined business will be known as TD Cowen, headed by Solomon. [35] To fund the purchase, TD sold over 28 million non-voting common shares of Charles Schwab Corporation, reducing its stake in the company from 13.4 percent to 12 percent. [35]

In August 2023, TD Bank Group announced that it was expanding its share repurchase program. It planned to repurchase 90 million shares (about 4.9 percent of outstanding shares). [36]

Sponsorships

A sign for TD Garden, a multi-sport venue in Boston. TD Bank has held the naming rights for the venue since 2005. 2011 Boston Bruins Stanley Cup parade (5851003120).jpg
A sign for TD Garden, a multi-sport venue in Boston. TD Bank has held the naming rights for the venue since 2005.

Toronto-Dominion Bank, and its subsidiaries, are title sponsors for a number of sporting venues in Canada and the United States. TD Bank holds the naming rights to several multi-sport indoor arenas, including TD Garden in Boston, Massachusetts. [37] TD Banknorth acquired the naming rights for the Boston-based venue in 2005, with the venue being known as TD Banknorth Garden until 2007. After TD Banknorth was merged to form TD Bank, N.A., the venue dropped Banknorth from the name and was branded as TD Garden. The Boston Celtics and Boston Bruins, which play at the venue, announced a 20-year extension of the TD Garden naming rights deal in January 2023. [38] The deal extends to 2045. [39]

Other indoor stadiums sponsored by TD Bank include TD Station in Saint John, New Brunswick; and TD Place Arena in Ottawa, Ontario. TD Place Arena forms a part of TD Place at Lansdowne Park. The bank also holds the naming rights to the outdoor stadium at TD Place, known as TD Place Stadium. Other outdoor stadiums sponsored by TD Bank include TD Stadium in London, Ontario, and TD Ballpark in Dunedin, Florida.

Controversies

In 2010, a suspicious customer trading at TD Bank in the UK was fined £750,000 (US$1.16 million) by the Financial Services Authority for intentionally mismarking his trading positions. [40]

News outlets reported the bank's policy regarding ordinary Iranian-Canadian citizens in July 2012. [41] About 100 personal bank accounts had been closed, citing the recent ambiguous Special Economic Measure Regulation of the Canadian government. A family in Vancouver was forced to refinance a $250,000 house mortgage in 60 days to avoid foreclosure. [41]

A TD Bank document became the focus of a 2012 contempt hearing in Miami federal court. In a civil lawsuit against TD Bank, a jury found the bank liable for aiding alleged Ponzi schemer Scott Rothstein's US$1.4 billion fraud. [42]

In 2015, the Canadian news website the Halifax Examiner reported that a political action committee (PAC) established by TD Bank had donated over $50,000 to the campaigns of anti-LGBT rights politicians in the United States. [43] The article suggested that this was problematic given TD Bank's status as a sponsor of 41 LGBT Pride events across North America; TD Bank made no comment. In response to this article, on October 6, 2015, a motion was brought at the annual general meeting of Halifax Pride to sever ties with TD Bank if it did not provide a satisfactory response to the concerns; the motion was ultimately defeated. [44]

On March 10, 2017, the Canadian Broadcasting Corporation's (CBC) news programme Go Public reported that TD Bank employees had admitted that, under pressure to achieve sales targets, they had increased customers' lines of credit, overdraft amounts, and Visa credit limits without advising them which is against the law. One TD financial adviser says she "invested clients' savings into funds which were not suitable, because of the SR [sales revenue] pressure". Another admitted downplaying the risk of products saying: "I was forced to lie to customers, just to meet the sales revenue targets." In an internal letter to employees, Andy Pilkington, executive vice-president of branch banking, wrote: "We don't believe the [CBC] story is an accurate portrayal of our culture," but the report provided an opportunity "to pause, reflect and ask ourselves ... how we can do better for our people and our customers." [45] The bank's stock lost 5.55 percent of its value on March 10, posting its worst day since 2009. [46]

In 2017, Greenpeace announced a campaign against TD's financing of tar sands on the basis of environmental as well as human rights issues. Their campaign stated that tar-sand pipelines are not consistent with a transition to a lower-carbon world and that many Indigenous and First Nations communities along the pipeline routes have not given permission for the projects. [47]

Following his ended relationship to private-banking with JPMorgan, which was headed by his friend Jes Staley, and his relationships later for over 20 years through Thomas Bowers at the Citi Private Bank and subsequently the Thomas Bowers headed private wealth management division of Deutsche Bank from 2013 until early 2019, [note 2] Jeffrey Epstein established a close relationship during 2019, allegedly through Darren Indyke, with wealth management and private banking at TD Bank which was Epstein's bank while he was under investigations in the United States, Brazil, and France at the time of his death in August 2019. [49] [50] [51] [52] [53]

In February 2022, TD Bank froze two personal bank accounts holding $1.1 million in funds, deposited to support the vaccine mandate protests in Ottawa. [54]

TD Bank has faced serious regulatory violations relating to money laundering. The bank has been heavily criticized for its role in the fentanyl and opioid epidemic in the United States, particularly in assistance provided by bank employees to drug traffickers. [55] [56] The allegations have prompted calls for CEO Bharat Masrani to step down, and has severely tarnished TD Bank's reputation in the United States. The fines in the United States are expected to exceed US$2 billion, which would be the most a Canadian bank has ever been fined. [57] The bank was also fined CA$9.19 million by FINTRAC, which is much more reluctant than the United States Department of Justice to penalize large institutions such as TD Bank because of the power and influence TD Bank has over Canadian politicians and government policy. [58] The CA$9.19 million fine is the largest fine ever imposed by FINTRAC.

On October 10, 2024, it was revealed that TD was required to pay USD $3 billion in fines due to charges that it failed to properly monitor money laundering by drug cartels, particularly by a Chinese organized crime ring based in Flushing, Queens. [59] TD will pay USD $1.3 billion to the US Treasury Department’s Financial Crimes Enforcement Network, a record fine for a bank. TD must also pay USD $1.8 billion to the US Justice Department. [60] U.S. senators Elizabeth Warren and Ron Wyden requested that TD identify executives responsible for anti-money laundering compliance failures. [59]

Leadership

President

  1. Albert Clifford Ashforth, 1 February 1955 – 6 December 1960
  2. Allen Thomas Lambert, 6 December 1960 – September 1972
  3. Richard Murray Thomson, September 1972 – 30 April 1978
  4. John Allan Boyle, 1 May 1978 – 31 May 1981
  5. Robert Willem Korthals, 1 June 1981 – 31 January 1995
  6. Alexander Charles Baillie, 1 February 1995 – 5 July 2000
  7. William Edmund Clark, 6 July 2000 – 31 October 2014
  8. Bharat Masrani, 1 November 2014 – 10 April 2025
  9. Raymond Chun, 10 April 2025 – present

Chairman of the board

  1. Byron Samuel Vanstone, 1 February 1955 – 31 December 1956
  2. Allen Thomas Lambert, 1961 – 30 April 1978
  3. Richard Murray Thomson, 1 May 1978 – 31 January 1998
  4. Alexander Charles Baillie, 1 February 1998 – 3 April 2003
  5. John Munro Thompson, 3 April 2003 – 31 December 2010
  6. Brian Michael Levitt, 1 January 2011 – 31 January 2024
  7. Alan Nelson MacGibbon, 1 February 2024 – present

See also

Notes

  1. ↑ The Toronto-Dominion Bank was a result of a merger between the Bank of Toronto and The Dominion Bank, finalized in 1955. The Bank of Toronto was established in 1855, whereas The Dominion Bank was established in 1869.
  2. ↑ Thomas Bowers left Deutsche Bank in 2015 to be Chief Operating Officer (COO) at Starwood Capital Group and in 2016 was a director on the board at Opus Bank. [48]

Related Research Articles

<span class="mw-page-title-main">ING Group</span> Dutch multinational banking and financial services corporation

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.

<span class="mw-page-title-main">Canada Trust</span> Canadian trust company

The Canada Trust Company was a Canadian trust company founded in 1894 in Calgary, Alberta, as the General Trust Corporation of Canada. In 1899, it was acquired by the Huron and Erie Savings and Loan Society, which moved the company to London, Ontario, and changed its name to the Canada Trust Company.

<span class="mw-page-title-main">Canadian Imperial Bank of Commerce</span> Canadian banking institution

The Canadian Imperial Bank of Commerce is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, in the largest merger between chartered banks in Canadian history. It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.

<span class="mw-page-title-main">HSBC</span> British multinational bank group

HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023.

<span class="mw-page-title-main">TD Canada Trust</span> Canadian commercial bank

TD Canada Trust, commonly shortened in marketing to simply TD, is the Canadian commercial banking division of the multinational TD Bank Group. It is the second-largest commercial bank in Canada by assets, behind only the Royal Bank of Canada. TD Canada Trust offers a range of financial services and products to more than 10 million Canadian customers through more than 1,100 branches and 2,600 ATMs.

<span class="mw-page-title-main">Scotiabank</span> Canadian multinational bank headquartered in Toronto

The Bank of Nova Scotia, operating as Scotiabank, is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada's Big Five banks, it is the third-largest Canadian bank by deposits and market capitalization. In 2023, the company’s seat in Forbes Global 2000 was 88. It serves more than 25 million customers around the world and offers a range of products and services including personal and commercial banking, wealth management, corporate and investment banking. With more than 89,000 employees and assets of CA$1,399 billion as of April 30, 2024, Scotiabank trades on the Toronto and New York exchanges. The Scotiabank swift code is NOSCCATT and the institution number is 002.

<span class="mw-page-title-main">Royal Bank of Canada</span> Financial institution

Royal Bank of Canada is a Canadian multinational financial services company and the largest bank in Canada by market capitalization. The bank serves over 20 million clients and has more than 100,000 employees worldwide. Founded in 1864 in Halifax, Nova Scotia, it maintains its corporate headquarters in Toronto and its head office in Montreal. RBC's institution number is 003. In November 2017, RBC was added to the Financial Stability Board's list of global systemically important banks.

<span class="mw-page-title-main">Danske Bank</span> Bank headquartered in Denmark

Danske Bank A/S is a Danish multinational banking and financial services corporation. Headquartered in Copenhagen, it is the largest bank in Denmark and a major retail bank in the northern European region with over 5 million retail customers. Danske Bank was number 454 on the Fortune Global 500 list for 2011. The largest shareholder with 21% of the share capital is A.P. Moller Holding, the investment holding company of the Maersk family.

TD Bank, N.A. is an American national bank and the United States subsidiary of the multinational TD Bank Group. It operates primarily across the East Coast, in 15 U.S. states and Washington, D.C. TD Bank is the seventh-largest U.S. bank by deposits and the 10th largest bank in the United States by total assets, resulting from a series of several mergers and acquisitions. TD Bank, N.A. is headquartered in Cherry Hill, New Jersey, an inner suburb eight miles outside Philadelphia. TD Bank is a federally chartered bank, thus its trading name bears "N.A." letters.

Big Five is the name colloquially given to the five largest banks that dominate the banking industry of Canada: Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD).

<span class="mw-page-title-main">ICICI Bank</span> Indian private sector bank

ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara. It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.

The Toronto-Dominion Bank is a financial services group based in Canada.

TD Banknorth, formerly Banknorth, was a wholly owned subsidiary of the Toronto-Dominion Bank which conducted banking and insurance activities, primarily serving the northeastern area of the United States, headquartered in Portland, Maine. The bank became TD Bank, N.A. on May 31, 2008.

<span class="mw-page-title-main">First Horizon Bank</span> American financial services company

First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.

TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division.

The South Financial Group, originally known as Carolina First Corporation, was a bank holding company headquartered in Greenville, South Carolina. The South Financial Group was the parent company of Carolina First, with branch locations in North and South Carolina and Mercantile Bank, with branch locations in Florida.

<span class="mw-page-title-main">Westpac</span> Australian multinational bank

Westpac Banking Corporation, known simply as Westpac, is an Australian multinational banking and financial services company headquartered at Westpac Place in Sydney.

TD Securities is a Canadian multinational investment bank and financial services provider that offers advisory and capital market services to corporate, government, and institutional clients worldwide. The firm provides services in corporate and investment banking, capital markets, and global transaction services.

<span class="mw-page-title-main">Dime Savings Bank of New York</span> Bank in Brooklyn, New York (1859–2002)

The Dime Savings Bank of New York, originally the Dime Savings Bank of Brooklyn, was a bank headquartered in Brooklyn, New York City. It operated from 1859 to 2002.

Bharat Masrani is a Canadian financial executive who is currently the group president and chief executive officer of the Toronto-Dominion Bank. Masrani was appointed to the role in November 2014.

References

  1. ↑ "Historical Fast Facts". td.com. Toronto-Dominion Bank. Archived from the original on December 25, 2021. Retrieved December 13, 2019.
  2. ↑ "TD Bank Corporate History". td.com. Toronto-Dominion Bank. Archived from the original on November 14, 2021. Retrieved December 13, 2019.
  3. ↑ Grant, Tina (1996). Canadian Company Histories. Gale Canada. p. 261. ISBN   978-1-896413-06-8.
  4. 1 2 3 4 5 6 "2024 Q4 Earnings Report" (PDF). Investor Relations. TD Bank Financial Group. Retrieved December 9, 2024.
  5. ↑ "The world's 100 largest banks, 2021". S&P Global . December 8, 2021. Archived from the original on December 8, 2021. Retrieved December 8, 2021.
  6. ↑ "Financial Stability Board (FSB) news and analysis articles". Central Banking. Retrieved January 4, 2023.
  7. ↑ "The Global 2000 2023". Forbes. Archived from the original on January 29, 2024. Retrieved February 7, 2024.
  8. ↑ "Corporate Information". TD Bank. Archived from the original on September 2, 2011. Retrieved August 7, 2015.
  9. ↑ "About Us". TD Bank. Archived from the original on November 8, 2020. Retrieved March 21, 2013.
  10. 1 2 3 4 5 6 "Our Roots". TD Bank Corporate. Toronto-Dominion Bank. 2019. Archived from the original on November 14, 2021. Retrieved September 3, 2019.
  11. ↑ Hickey, Harvey (November 2, 1954). "Total Assets $1,100,000,000: Merger of Bank of Toronto And Dominion Bank Approved Shareholders Will Give Final Decision". The Globe and Mail. Toronto. ProQuest   1290136410.
  12. ↑ "Historical Fast Facts". TD.com. Archived from the original on December 25, 2021. Retrieved March 11, 2020.
  13. ↑ Stemman, Roy, ed. (November 2010). "Nationwide cash service for world's second largest country". Value Solutions. Essex, UK: G4S. Archived from the original on May 7, 2015.
  14. ↑ "Who We Are". Symcor. Archived from the original on March 15, 2013. Retrieved March 21, 2013.
  15. ↑ Critchley, Barry (April 4, 2011). "Bank-owned Symcor misses on timing". National Post . Archived from the original on October 12, 2013. Retrieved April 8, 2013.
  16. ↑ Pound, Richard W. (2006). Fitzhenry and Whiteside Book of Canadian Facts and Dates. Fitzhenry and Whiteside. ISBN   978-1554550098.
  17. ↑ "TD Securities buys Newcrest Capital". CBC News. November 7, 2000. Archived from the original on April 8, 2023. Retrieved September 3, 2024.
  18. 1 2 Chase, Steven (May 8, 2000). "TD sells 13 retail branches". The Globe and Mail. Archived from the original on September 28, 2021. Retrieved September 28, 2021.
  19. ↑ "TD takeover of Canada Trust good news for clients, bank says | CBC News".
  20. ↑ "TD Bank buying majority stake in Banknorth for $3.8B US". CBC News. Canadian Broadcasting Corporation. August 26, 2004. Retrieved September 3, 2019.
  21. ↑ "Frequently Asked Questions: TD Banknorth". Toronto-Dominion Bank. 2019. Retrieved September 3, 2019.
  22. ↑ Blumenthal, Jeff (April 1, 2011). "TD Bank Financial completes purchase of Chrysler Financial". Philadelphia Business Journal . Archived from the original on August 22, 2011. Retrieved March 21, 2013.
  23. ↑ "TD buys MBNA's Canadian credit card business". CBC News. August 15, 2011. Retrieved March 21, 2013.
  24. ↑ "Who We Are". Xerox. October 4, 2012. Archived from the original on January 16, 2014. Retrieved January 14, 2014.
  25. ↑ Robertson, Grant; Perkins, Tara (December 13, 2010). "RBC, Manulife hit by ratings downgrades". The Globe and Mail. Toronto. Archived from the original on March 5, 2016. Retrieved September 17, 2017.
  26. ↑ "2012 Rankings of Canada's top 1000 public companies by profit". Report on Business . June 28, 2012. Archived from the original on June 30, 2012. Retrieved March 21, 2013.
  27. ↑ Trichur, Rita; Dummett, Ben (February 12, 2015). "TD Bank Reviewing Costs; More Layoffs Possible". The Wall St. Journal. Dow Jones & Company. Retrieved December 2, 2019.
  28. ↑ "Deloitte" (PDF).
  29. ↑ "TD to Buy Headlands for Push Into Quantitative Bond Trading". Bloomberg.com. March 23, 2021. Archived from the original on April 1, 2021. Retrieved May 7, 2023.
  30. ↑ "TD purchases Chicago-based electronic bond trading platform Headlands". The Globe and Mail. March 23, 2021. Archived from the original on May 7, 2023. Retrieved May 7, 2023.
  31. ↑ Orland, Kevin (March 18, 2021). "CEO Pay Tied to ESG Sets Canadian Banks Apart From the Crowd - BNN Bloomberg". BNN. Archived from the original on March 23, 2021. Retrieved March 18, 2021.
  32. ↑ Craver, Richard (February 28, 2022). "First Horizon agrees to be sold to Toronto's TD Bank Group for $13.4 billion; deal would be second largest in U.S. since Great Recession". Winston-Salem Journal . Retrieved March 1, 2022.
  33. ↑ Marchese, Adriano (May 4, 2023). "Toronto-Dominion Bank, First Horizon Terminate Merger Agreement". Wall Street Journal. wsj.com. Archived from the original on May 4, 2023. Retrieved May 4, 2023.
  34. ↑ Hammond, Ed; Foerster, Jan-Henrik; Kirchfeld, Aaron (July 1, 2022). "Toronto-Dominion Bank Explores Takeover of US Brokerage Cowen". Bloomberg News . Archived from the original on August 19, 2022. Retrieved July 3, 2022.
  35. 1 2 3 Orland, Kevin; Marotta, Stefanie (August 2, 2022). "TD to Buy Cowen for $1.3 Billion to Bulk Up Capital Markets" . Bloomberg News . Archived from the original on August 2, 2022. Retrieved August 2, 2022.
  36. ↑ "TD Bank Group reports profits down, rolls out expanded share buyback program". CTV News. August 24, 2023. Archived from the original on August 26, 2023. Retrieved February 25, 2024.
  37. ↑ Bird, Hayden. "TD Bank agrees to extension, will keep name on Garden through 2045". www.boston.com. Archived from the original on May 2, 2024. Retrieved May 2, 2024.
  38. ↑ Sim, Josh (January 13, 2023). "Boston Celtics and Bruins' TD Garden naming rights deal extended until 2045". SportsPro. Archived from the original on September 24, 2023. Retrieved May 2, 2024.
  39. ↑ Sim, Josh (January 13, 2023). "Boston Celtics and Bruins' TD Garden naming rights deal extended until 2045". SportsPro. Retrieved May 2, 2024.
  40. ↑ Muñoz, David Enrich; Bryan-Low, Cassell; Schaefer, Sara (September 22, 2011). "U.K. Sets Its Sights on 'Rogue' Traders" . The Wall Street Journal. Archived from the original on January 4, 2012. Retrieved November 6, 2020.
  41. 1 2 Kane, Laura (July 12, 2012). "Iranian-Canadians furious over closure of TD Bank accounts". Toronto Star. Archived from the original on March 5, 2016. Retrieved October 7, 2015.
  42. ↑ "Controversial TD Bank form was clear on flagging fraud". South Florida Business Journal . May 25, 2012. Retrieved January 13, 2014.
  43. ↑ Ward, Jesse (July 24, 2014). "TD Bank: sponsoring Pride and politicians who are against marriage equality" . Halifax Examiner. Retrieved October 7, 2015.
  44. ↑ "Halifax Pride 2015 AGM Summary". Halifax Pride. October 6, 2015. Retrieved October 7, 2015.
  45. ↑ Johnson, Erica (March 10, 2017). "'We do it because our jobs are at stake': TD bank employees admit to breaking the law for fear of being fired". CBC News. Archived from the original on April 9, 2018. Retrieved April 9, 2018.
  46. ↑ Berman, David; Bradshaw, James (March 10, 2017). "$7-billion wiped out in one day: Why TD stock took its sharpest drop since the financial crisis". The Globe and Mail . Archived from the original on June 8, 2022. Retrieved June 8, 2022.
  47. ↑ "Q & A: Why campaign against TD Bank over tar sands pipelines?". greenpeace.org. Greenpeace Canada. September 22, 2017. Archived from the original on March 8, 2022. Retrieved June 7, 2022.
  48. ↑ "Former Deutsche Bank Exec Connected to Trump Loans Dies by Suicide in Malibu". Archived from the original on April 26, 2021. Retrieved April 24, 2021.
  49. ↑ TD Bank took Epstein money after Deutsche Bank kicked him out
  50. ↑ "Jeffrey Epstein's Private Banker at Deutsche & Citi Found Swinging From a Rope:; Executive 'Suicide' Before FBI Could Question Him". December 3, 2019. Archived from the original on December 4, 2019. Retrieved December 4, 2019.
  51. ↑ "The Epstein Connection: Follow The Money". December 5, 2019. Archived from the original on April 24, 2021. Retrieved April 24, 2021.
  52. ↑ Pagones, Stephanie (July 7, 2020). "Deutsche Bank penalized $150M for Jeffrey Epstein relationship". FOXBusiness. Retrieved July 19, 2021.
  53. ↑ Byrne, Paul; Allen, Peter (September 2019). "Jeffrey Epstein's 'fixer' who ran major modelling agency vanishes 'like a ghost'". Mirror. Archived from the original on June 11, 2020. Retrieved June 11, 2020.
  54. ↑ Saminather, Nichola (February 12, 2022). "TD Bank freezes accounts that received money for Canada protests". www.reuters.com. Reuters. Archived from the original on February 14, 2022. Retrieved February 15, 2022.
  55. ↑ "TD CEO Masrani tells staff he is disappointed by anti-money-laundering failings but they are being fixed". The Globe and Mail. May 7, 2024. Retrieved May 15, 2024.
  56. ↑ Tokar, Dylan; Baer, Justin; Monga, Vipal. "TD Bank Probe Tied to Laundering of Illicit Fentanyl Profits". WSJ. Retrieved May 15, 2024.
  57. ↑ Pereira, Ana (May 10, 2024). "TD Bank could face billions in fines following money-laundering probe". Toronto Star. Archived from the original on May 14, 2024. Retrieved May 15, 2024.
  58. ↑ Pereira, Ana (May 10, 2024). "TD Bank could face billions in fines following money-laundering probe". Toronto Star. Archived from the original on May 14, 2024. Retrieved May 15, 2024.
  59. 1 2 Tokar, Dylan (December 10, 2024). "TD Bank Faces Calls to Identify Executives Responsible for Money-Laundering Breaches" . The Wall Street Journal . Retrieved December 11, 2024.
  60. ↑ Egan, Jordan; Valinsky, Matt (October 10, 2024). "TD Bank hit with record $3 billion fine over drug cartel money laundering, source says | CNN Business". CNN. Archived from the original on October 12, 2024. Retrieved October 11, 2024.

Further reading

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.