TD Bank Group
Headquartered in Toronto, Canada, with more than 90,000 employees around the world, the Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD offers a full range of financial products and services to over 27 million customers worldwide through three key business lines:
- Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing and TD Insurance
- U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in Schwab
- Wholesale Banking including TD Securities
TD had CDN$1.9 trillion in assets on October 31, 2022. TD also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers. The Toronto-Dominion Bank trades on the Toronto and New York stock exchanges under the symbol "TD".
The Toronto-Dominion Bank is a chartered bank subject to the provisions of the Bank Act (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.
Canadian Retail
TD Canada Trust
TD Canada Trust is TD Bank Group's customer-focused personal and small business banking business. Serving more than 13.5 million customers nationally, TD Canada Trust provides a full range of financial products and services through its retail branch network, mobile app, telephone, Internet banking, and ‘TD Green Machine’ automated banking machines.
Business Banking
Business Banking provides financial solutions to Canadian businesses of all sizes across a wide range of industries. Dedicated Business Banking Specialists deliver customized solutions to meet the unique needs of business customers. Drawing on a range of products and services including financing, deposit, investment, cash management, international trade and foreign exchange, our relationship teams provide the right tools and advice to help customers achieve their goals. Business Banking includes:
- TD Auto Finance Canada
- Small Business Banking
- Mid-Market Commercial Banking
- Specialized Commercial Banking that is comprised of:
- Commercial National Accounts and Asset Based Lending
- National Real Estate Group
- Commercial Mortgage Group
- TD Equipment Finance
- Agriculture Services
- Aboriginal Banking
MBNA
MBNA is a division of The Toronto-Dominion Bank. With the MBNA portfolio, TD is a leading provider of co-branded and affinity credit card programs in Canada. MBNA MasterCard credit cards are associated with hundreds of Canadian membership organizations, credit union and financial institutions, sports associations, educational institutions and charities.
TD Wealth and TD Asset Management
TD Wealth provides investors and financial advisors with a broad range of brokerage, mutual fund, banking and other consumer financial products on an integrated basis. TD Wealth consists of:
- TD Direct Investing – provides clients access to information, tools and support that empower them to invest for themselves with confidence.
- TD Wealth Financial Planning – allows clients to work with a professional Financial Planner to develop and implement a financial plan.
- TD Wealth Private Wealth Management – provides discretionary wealth management, private banking and private trust services for high net worth clients.
- TD Wealth Private Investment Advice – offers a full-service brokerage and connects clients with a professional Investment Advisor to design custom wealth strategies to meet their unique needs.
About TD Asset Management Inc.
TD Asset Management Inc. ("TDAM"), a member of TD Bank Group, is a North American investment management firm. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Asset management businesses at TD manage $398 billion in assets. Aggregate statistics are as of September 30, 2022 for TDAM and Epoch Investment Partners, Inc. TDAM operates in Canada and Epoch Investment Partners, Inc. operates in the United States. Both entities are affiliates and are wholly-owned subsidiaries of The Toronto-Dominion Bank.
TD Insurance
TD Insurance is a part of TD Bank Group and provides these products:
- Auto Insurance
- Home Insurance
- Life Insurance
- Health Insurance
- Travel Medical Insurance
- TD Protection Plans
- Motorcycle and Recreational Vehicle Insurance
- Business Credit Life Insurance
Government regulation prevents TD Bank Group from providing a link to the TD Insurance web page but you can visit www.tdinsurance.com.
U.S. Retail
TD Bank, America's Most Convenient Bank
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J.
TD Auto Finance (U.S.)
TD Auto Finance offers new and used vehicle financing through an extensive network of dealers across the United States.
TD Wealth (U.S.)
TD Wealth offers integrated, comprehensive and customized financial solutions to help high net worth individuals and institutions build, preserve and transition wealth. We provide expertise in Private Client services including Private Banking, Private Trust and Private Investment Counsel, and Institutional Trust services.
The Charles Schwab Corporation
On October 6, 2020, TD became the largest shareholder in The Charles Schwab Corporation (Schwab) (NYSE: SCHW) when the transaction announced on November 25, 2019 between TD Ameritrade and Schwab closed. Schwab is a leading provider of financial services which, through its operating subsidiaries, provides a full range of wealth management, securities brokerage, banking, asset management, custody and financial advisory services.
Wholesale Banking
TD Securities
As a leading corporate and investment bank, TD Securities provides a wide range of integrated capital market products and services to corporations, governments and institutions. Our clients choose us for our knowledge, innovation and experience in the following key areas of finance: investment, corporate and government banking, capital markets, interest rate, currency and derivative products.
Operating out of 15 offices in key financial centres, we provide superior advice and execution to clients around the world. Our services include the underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and executing daily trading and investment needs.
I am a financial expert with a comprehensive understanding of the banking industry, particularly the Toronto-Dominion Bank (TD Bank) and its various subsidiaries. My expertise is grounded in a deep knowledge of the financial landscape, with a focus on TD Bank Group's operations, products, and services.
Now, let's delve into the key concepts and components mentioned in the article about TD Bank Group:
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Toronto-Dominion Bank (TD):
- A major Canadian bank headquartered in Toronto, with a global presence and over 90,000 employees.
- Offers a wide range of financial products and services to more than 27 million customers worldwide.
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Business Lines:
- Canadian Retail: Includes TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing, and TD Insurance.
- U.S. Retail: Encompasses TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.), and TD’s investment in Schwab.
- Wholesale Banking: Involves TD Securities, offering various capital market products and services.
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Financial Statistics (as of October 31, 2022):
- TD had CDN$1.9 trillion in assets.
- Recognized as one of the world’s leading online financial services firms with over 15 million active online and mobile customers.
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Formation and History:
- Formed on February 1, 1955, through the amalgamation of The Bank of Toronto (chartered in 1855) and The Dominion Bank (chartered in 1869).
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Canadian Retail:
- TD Canada Trust: TD Bank Group's customer-focused personal and small business banking business, serving over 13.5 million customers nationally.
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Business Banking:
- Offers financial solutions to Canadian businesses, including Small Business Banking, Mid-Market Commercial Banking, and Specialized Commercial Banking.
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MBNA:
- A division of TD Bank Group, providing co-branded and affinity credit card programs in Canada.
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TD Wealth:
- Provides investors and financial advisors with brokerage, mutual fund, banking, and other consumer financial products.
- Includes TD Direct Investing, TD Wealth Financial Planning, TD Wealth Private Wealth Management, and TD Wealth Private Investment Advice.
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TD Asset Management Inc.:
- A North American investment management firm, managing assets on behalf of corporations, pension funds, endowments, foundations, and individual investors.
- Operates in Canada and the United States, managing $398 billion in assets.
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TD Insurance:
- Offers a range of insurance products, including auto, home, life, health, travel medical, protection plans, motorcycle, and recreational vehicle insurance.
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U.S. Retail:
- TD Bank, America's Most Convenient Bank: One of the 10 largest banks in the U.S., serving over 9.8 million customers across multiple locations.
- TD Auto Finance (U.S.) and TD Wealth (U.S.): Provide vehicle financing and comprehensive financial solutions for high net worth individuals and institutions.
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Charles Schwab Corporation:
- TD became the largest shareholder in The Charles Schwab Corporation, a leading provider of financial services, through its subsidiary TD Ameritrade.
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Wholesale Banking - TD Securities:
- A leading corporate and investment bank, providing integrated capital market products and services globally.
- Key areas of expertise include investment, corporate and government banking, capital markets, interest rate, currency, and derivative products.
This overview demonstrates my in-depth understanding of TD Bank Group, its subsidiaries, and the diverse range of financial services it offers to a vast customer base.
