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Fri Feb 10 22:28:22 EST 2012
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TD Bank Financial Group History
Headquartered in Toronto, Canada, with offices around the world, TD Bank Financial Group consists of the Toronto Dominion Bank and its broad array of subsidiaries. TD offers a full range of financial products and services to approximately 13 million customers worldwide through five key businesses:
- TD Canada Trust (retail banking)
- TD Waterhouse (discount brokerage)
- TD Securities (corporate and investment banking)
- TD Asset Management (mutual funds and investment banking)
- TD Commercial Banking
As at April 1, 2000, TD was Canada's largest bank in terms of market capitalization, and had more than $260 billion in assets. A global leader in on-line financial services, TD ranks as one of the top three on-line financial services providers in the world with more than 2.5 million on-line customers and is the largest shareholder in
TD Waterhouse Group, Inc., the second largest discount brokerage in the world.
TD Bank is a Schedule I chartered bank subject to the provisions of the Bank Act of Canada. It was formed on February 1, 1955 through the amalgamation of The Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in 1869.
2000
- February 1 - TD Bank Financial Group completed its acquisition of CT Financial Services Inc.- a leading Canadian financial services company. TD now has over 13 million customers worldwide, is the number one bank in Canada for customer service and mutual fund advice and is one of the top three on-line financial services providers in the world with more than 2.6 million on-line customers.
1999
- August 3 - TD Bank Financial Group announced it had entered into an agreement to acquire 100% of the shares of CT Financial Services Inc. - a leading Canadian financial services company. TD announced that CT Financial's retail banking operation, Canada Trust, would be combined with TD's retail banking operation and renamed TD Canada Trust.
- July - Following the successful IPO of TD Waterhouse Group, Inc., TD announced the re-branding of its entire global discount brokerage business as TD Waterhouse Group-- the world's second largest discount broker. Comprised of the former Green Line Investor Services operations in Canada, the U.K., Australia and Hong Kong and Waterhouse Investor Services, in the U.S., shares of TD Waterhouse Group, Inc. began trading on the New York and Toronto Stock Exchanges under the symbol "TWE".
- June - TD Bank Financial Group raised approximately Cdn$1.5 billion
(US$1.042 billion) with an initial public offering of 11.53% of TD Waterhouse Group, Inc. At the time, it was the largest Internet related IPO on the New York Stock Exchange. TD had acquired Waterhouse Investor Services in 1996 for Cdn$728 million (US$535 million).
1998
- September - TD acquired Gall & Eke, a Manchester U.K.- based discount broker. This was a significant and important step towards establishing a leadership position in the growing U.K. discount brokerage market and providing a platform for expansion into the broader European community.
- March - TD's Waterhouse Investor Services, Inc., acquired U.S. discount brokerage firm, Jack White & Company for US $100 million. The move built on TD's position in the U.S. as a leading discount brokerage business and increased Waterhouse's active account base by approximately 10%.
- February - TD announced its first in-store agreement with Wal-Mart Canada that would see TD in-store branches built in all new Wal-Mart stores across Canada. By the year 2000, 43 TD in-store branches would be opened in Wal-Mart stores in Canada. TD would later expand in-store branches into Sobey grocery stores in Atlantic Canada.
1997
- October - TD continued its expansion into the Australian discount brokerage market by acquiring Rivkin Croll Smith.
- October - TD's Waterhouse Investor Services Inc., acquired California-based discount brokerage Kennedy, Cabot & Co. This move increased the account base of TD's U.S. discount brokerage operations by approximately 25%.
- April - As part of TD's strategy to expand its global discount brokerage business, TD acquired Pont Securities, Australia's leading discount broker.
1996
- April - TD acquired Waterhouse Investor Services, Inc., the fourth largest discount brokerage in the U.S for Cdn $728 (US$535 million). At the time, this was the largest acquisition in TD's history. The Waterhouse acquisition was the key event in creating TD Waterhouse Group. - the world's 2nd largest discount brokerage.
1995
- TD Bank appointed the Bank's first Ombudsman to resolve customer complaints and disputes.
- TD acquired Lancaster Financial Holdings Inc., a financial advisory firm boosting TD's mergers and acquisition capabilities.
1993
- TD launched TD Evergreen Investment Services, a full-service brokerage. From a standing start, TD Evergreen grew to 67 offices with 174,000 accounts and $16.0 billion in assets under administration by the year 2000.
- TD acquired the assets of Marathon Brokerage, a substantial Canadian discount brokerage.
- TD acquired Central Guaranty Trust Company's assets and deposit liabilities. The acquisition added $4.4 billion of residential mortgages, $900 million of personal loans, $2 billion of business loans, and $9.7 billion of personal deposits to the Bank's portfolio.
1984
- TD launched Green Line Investor Services Inc., the first Canadian bank-operated discount brokerage to purchase a seat on the Toronto Stock Exchange. At the time, Green Line operated with a small budget from its King and Bay Street branch office in downtown Toronto. Within fifteen years, it would eventually grow to become the world's second largest discount brokerage known as TD Waterhouse Group, Inc. with operations in Canada, the United States, the United Kingdom, Japan, Australia and India.
1976
- TD launched the Green Machine automated banking machine - the first full-service machine in Canada with deposit and withdrawal capabilities.
1967
- Head Office departments of the Bank moved into the new 56-story Toronto-Dominion Bank Tower of the Toronto-Dominion Centre. TD was the first bank to concentrate its offices at King and Bay St. in the Toronto, Ontario downtown core. The TD Centre, designed by Miles Van Der Rohe, is now comprised of five adjacent towers in what is now the heart of Canada's financial district.
1955
- The Toronto-Dominion Bank was established through the amalgamation of The Bank of Toronto and The Dominion Bank on February 1, 1955. A marriage of equals, the amalgamation of the new bank came on the one hundredth anniversary of the founding of The Bank of Toronto.
1871
- On February 1, 1871 The Dominion Bank opened its doors to the public at 40 King Street East in downtown Toronto.
1869
- The Dominion Bank was established in Toronto by a group of area business and professional leaders to promote agricultural and commercial growth in the city. The new bank was located at 40 King Street East in downtown Toronto.
1856
- On Tuesday July 8, 1856 the first branch of The Bank of Toronto opened its doors to the public at 78 Church St. in downtown Toronto with £27,435 of working capital.
1855
- The Bank of Toronto was founded by a group of grain merchants to meet their banking needs to deal with expanding trade at home and abroad. The new bank operated from 78 Church Street in downtown Toronto.
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