Toronto-Dominion Bank

Toronto-Dominion Bank Quick Facts

The Toronto-Dominion Bank widely known as TD Bank is one of the Canadian Big Five banks, ranking second to Royal Bank of Canada. TD Bank has over 52,000 employees worldwide. TD Bank operates under the TD Bank Financial Group corporate brand. TD Bank Financial Group is a registered member with the Canada Deposit Insurance Corporation and a member of the Canadian Bankers Association.

Toronto-Dominion Bank History

Today's TD Bank Financial Group is a result of a merger between The Bank of Toronto established in 1856 and The Dominion Bank established in 1871. On February 1st, 1955 the 2 banks merged and became the Toronto-Dominion bank. At the time of the merger both The Bank of Toronto and The Dominion Bank had similar market share.

In effort to expand its US presence TD Bank bought a majority stake in the US Banknorth in 2005, which is now marketed under the TD Banknorth brand. In the beginning of 2006 TD Bank sold the US operations of online brokerage TD Waterhouse to Ameritrade.

TD Bank Structure

The TD Bank and its subsidiaries are structured into four main business streams: Canadian Personal and Commercial Banking (TD Canada Trust, TD Commercial Banking), Wealth Management (TD Waterhouse, TD Asset Management), Wholesale Bank (TD Securities), and U.S. Personal and Commercial Banking (TD Banknorth).

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