Businesses

Driving Growth Through Four Key Business Segments

  • Overview

    We serve our customers and clients through four key business segments that operate in North America and beyond:

    • Canadian Personal and Commercial Banking
    • Wealth Management
    • U.S. Personal and Commercial Banking
    • Wholesale Banking
  • You can find out more about these businesses and our leadership team below.

  • Senior Executive Team

    • photo of Ed Clark

      Ed Clark
      Group President and Chief Executive Officer
      TD Bank Group

      Detail

    • photo of Riaz Ahmed

      Riaz Ahmed
      Group Head, Corporate Development, Enterprise Strategy and Treasury
      TD Bank Group

      Detail

    • photo of Mark Chauvin

      Mark Chauvin
      Group Head and Chief Risk Officer, Risk Management
      Corporate Office
      TD Bank Group

      Detail

    • photo of Teri Currie

      Teri Currie
      Group Head, Marketing, Corporate and People Strategies
      Corporate Office
      TD Bank Group

      Detail

    • photo of Colleen Johnston

      Colleen Johnston
      Group Head, Finance and Chief Financial Officer
      Corporate Office
      TD Bank Group

      Detail

    • photo of Frank McKenna

      Frank McKenna
      Deputy Chair
      TD Bank Group

      Detail

    • photo of Mike Pedersen

      Mike Pedersen
      Group Head, Wealth Management, Direct Channels and Corporate Shared Services
      TD Bank Group

      Detail

    • photo of Bharat Masrani

      Bharat Masrani
      Group Head, U.S. Personal and Commercial Banking, TD Bank Group and President & CEO
      TD Bank, America’s Most Convenient Bank

      Detail

    • photo of Fred Tomczyk

      Fred Tomczyk
      President and Chief Executive Officer
      TD Ameritrade

      Detail

    • photo of Bob Dorrance

      Bob Dorrance
      Group Head, Wholesale Banking, TD Bank Group and Chairman, CEO & President
      TD Securities

      Detail

    • photo of Tim Hockey

      Tim Hockey
      Group Head, Canadian Banking and Insurance, TD Bank Group and President and Chief Executive Officer
      TD Canada Trust

      Detail


  • Canadian Personal and Commercial Banking

    From personal savings accounts to commercial lending, our Canadian Personal and Commercial Banking business offers a full range of personal financial services and business banking products.

    TD Canada Trust provides banking services to more than 11 million customers across Canada, including financial advice, mortgages, credit cards and everyday banking. More than 30,000 employees work for TD Canada Trust, most in direct customer facing roles whether on the phone or in person at a branch. TD Canada Trust lives up to its promise of comfortable banking by being the most convenient bank with the longest hours of any bank in Canada.

    Through TD Commercial Banking, we serve large and small Canadian businesses by offering a broad range of customized products and services.

    And TD Insurance helps protect close to four million customers with a wide range or products including credit protection, life, critical illness, health, travel, home and auto insurance. Whether it’s through the branch network or our direct online model, TD Insurance is focused on delivering an exceptional experience and providing Canadians with insurance solutions that they understand and that suit their needs.

    U.S. Personal and Commercial Banking

    TD Bank, America’s Most Convenient Bank®, is one of the 15 largest commercial banks in the U.S., with more than 23,000 employees. The bank provides a full range of financial products and services to more than 6.5 million customers through an extensive network of more than 1,200 convenient locations from Maine to Florida.

    Wholesale Banking

    With more than 2,700 people in 14 offices around the world, TD Securities provides a wide range of products and services to corporate, government and institutional clients who choose us for our knowledge, innovation and experience. Our services include liquidity, equities and fixed income trading, foreign exchange services, as well as investment banking and research services.

    Wealth Management

    TD Wealth Management provides an offering of global online investing, advice, private client services and asset management to a large and diverse institutional and retail client base. In our global online investing channels, we have leading market share in Canada and the U.K. through TD Waterhouse Discount Brokerage and TD Waterhouse International. In the U.S., TD Ameritrade is the industry-leader as measured by trades. Our North American Private Client Group provides a comprehensive offering of banking, trust and discretionary investment management to high net worth clients. And TD Asset Management is a leading North American investment manager comprised of retail and institutional capabilities.

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  • <a name="person1"></a>

    Ed Clark

    Group President and Chief Executive Officer


    photo of Ed Clark

    Ed Clark was appointed President and Chief Executive Officer of TD Bank Group on December 20, 2002. Prior to this appointment, he was President and Chief Operating Officer, a role he held since July 2000.

    Following TD's acquisition of Canada Trust Financial Services in February of 2000, Ed joined TD Bank Group as Chairman and Chief Executive Officer of TD Canada Trust. In this role he oversaw the successful integration of the TD and Canada Trust banking operations. Before joining TD, Ed was President and Chief Executive Officer of Canada Trust Financial Services.

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  • <a name="person2"></a>

    Riaz Ahmed

    Group Head, Corporate Development, Enterprise Strategy and Treasury


    photo of Riaz Ahmed

    As Group Head, Corporate Development, Enterprise Strategy and Treasury, Riaz is responsible for the bank’s overall strategy, overseeing treasury and balance sheet management activities and seeking out possible acquisition opportunities.

    Before joining corporate development in 2004 Riaz held a variety of roles in Wholesale Banking, serving as Chief Administrative Officer and Chief Financial Officer, overseeing finance, technology and risk operations infrastructure prior to which he was Managing Director of the Government and Infrastructure Investment Banking Team.

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  • Mark Chauvin

    Group Head and Chief Risk Officer, Risk Management


    photo of Mark Chauvin

    In May 2010, Mark Chauvin was appointed Group Head and Chief Risk Officer (CRO), Risk Management, Corporate Office, TD Bank Group. Prior to this appointment, Mark was the Executive Vice President and CRO, Risk Management since December 2006. As CRO, Mark oversees the global management of Credit, Enterprise, Market and Operational Risk.

    Having initially joined TD as a commercial account management trainee more than 30 years ago, Mark has held a number of increasingly senior management positions in the commercial, wholesale, retail and corporate areas of the bank.

    Mark serves on the board of directors for The Risk Management Association (RMA), a not-for-profit association dedicated to advancing the use of sound risk principles in the financial services industry.

    A native of Windsor, Ontario, Mark received his Bachelor of Science and MBA degrees from the University of Windsor. He and his wife Victoria make their home in Burlington and have three children.

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  • <a name="person4"></a>

    Teri Currie

    Group Head, Marketing, Corporate and People Strategies


    photo of Teri Currie

    A member of TD’s Senior Executive Team, Teri Currie plays a role in determining the organization’s strategic direction and in developing and achieving TD Bank Group’s performance targets. In her role as Group Head of Marketing, Corporate and People Strategies, Teri is responsible for the bank’s talent management strategies, government and regulatory affairs, as well as the protection and enhancement of TD’s brand and reputation.

    Teri joined TD as Senior Vice President, Human Resources in 2004. In 2005, Teri was appointed Executive Vice President, Human Resources. She took on executive leadership of Corporate and Public Affairs in 2009, followed by Marketing and Government and Regulatory Affairs, including Corporate Compliance and TD Economics, in 2010.

    Over the last 25 years of her career, Teri has focused on the banking industry, primarily in the Human Resources and Corporate Reputation areas. Prior to joining TD in 2004, Teri held executive Human Resources positions with CIBC World Markets and Wealth Management and various senior line management and Human Resources positions with Canada Trust.

    Teri is a member of the National Cabinet of the Juvenile Diabetes Foundation Ride for the Cure, and is also a member of Appleby College’s Board of Directors and its Corporate Governance Committee.

    Previously, Teri served on the Board of Directors of TD Insurance’s regulated insurance entities and chaired its Human Resources and Ethics Committee. Teri was also a member of the Human Resources Committee for the Canadian Bankers’ Association, and served on the Boards of Goodwill Industries of Toronto and Career Edge, an organization that connects skilled graduates and internationally qualified professionals with Canadian internship opportunities. Teri was named one of Canada’s 100 Most Powerful Women by the Women’s Executive Network in 2008, 2007 and 2006 and to its Hall of Fame in 2009.

    Teri earned an MBA from the Richard Ivey School of Business, University of Western Ontario, and graduated from the University of Calgary with a B.Sc. in Mathematics.

    Teri resides in Oakville with her husband and two children and her golden retriever.

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  • <a name="person5"></a>

    Colleen Johnston

    Group Head, Finance and Chief Financial Officer


    photo of Colleen Johnston

    Colleen Johnston is Group Head Finance and Chief Financial Officer, TD Bank Group. Colleen has primary responsibility for all aspects of external and regulatory financial reporting, performance measurement and optimization including capital allocation, investor and rating agency relations, interest and liquidity risk management, and tax management. The Audit function also reports to Colleen on an administrative basis.

    Colleen joined TD in March 2004 as Executive Vice President, Finance Operations, and in November 2005 she became Executive Vice President and Chief Financial Officer, TD Bank Group.

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  • <a name="person6"></a>

    Frank McKenna

    Deputy Chair


    photo of Frank McKenna

    Frank McKenna was appointed Deputy Chair of TD Bank Group on May 1, 2006. He is responsible for supporting the Bank in its customer acquisition strategy, particularly in the area of Wholesale and Commercial Banking. In addition, he is representing TD as it works to expand its North American presence as one of the ten largest banks as measured by market capitalization.

    Prior to joining TD, he was posted to Washington, D.C. and served as the Canadian Ambassador to the United States of America from 2005 to 2006. Previously he served as Counsel to the Atlantic Canada law firm of McInnes Cooper and Consulting Counsel to Osler Hoskin and Harcourt in Toronto. During this same time, he played leading roles in numerous provincial, national and international companies.

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  • <a name="person7"></a>

    Mike Pedersen

    Group Head, Wealth Management, Direct Channels and Corporate Shared Services


    photo of Mike Pedersen

    As Group Head, Wealth Management, Direct Channels, and Corporate Shared Services, Mike is responsible for TD’s wealth management businesses as well as the bank’s direct channels (online, phone, ABMs) and corporate shared services (IT, real estate, strategic sourcing, corporate security, and the project management office). In addition, Mike champions the bank’s environmental agenda.

    Prior to joining TD in July 2007, Mike worked in London, England, where he was responsible for Barclays' global private bank and two other international businesses.

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  • Bharat Masrani

    Group Head, U.S. Personal and Commercial Banking, TD Bank Group and President & CEO TD Bank, America’s Most Convenient Bank


    photo of Bharat Masrani

    Bharat Masrani is Group Head, U.S. Personal and Commercial Banking, TD Bank Group and President and Chief Executive Officer of TD Bank, America's Most Convenient Bank®.

    Bharat has over 20 years of banking experience and is a member of the TD Bank Board of Directors. Prior to joining TD Banknorth as President and CEO in 2007, he served as Vice Chair and Chief Risk Officer of TD Bank Group, a position he held from May 2003. During his tenure with TD Bank Group, Bharat also served as Senior Vice President and Chief Executive Officer of TD Waterhouse Investor Services in Europe; Senior Vice President, Corporate Finance and Co-Head in Europe; Vice President and Country Head for India; and Vice President and Head, Corporate Banking Canada. He began his banking career with TD Bank Group in 1987 as a Commercial Lending Trainee. Bharat is a member of Maine Medical Center's Board of Directors and serves on the Schulich International Advisory Council.

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  • Fred Tomczyk

    President and Chief Executive Officer TD Ameritrade


    photo of Fred Tomczyk

    Fred Tomczyk is president and chief executive officer of TD Ameritrade. He is a 20-year veteran of the financial services industry with extensive expertise in wealth management, retail distribution and sales.

    Prior to his current appointment, Fred served as the firm’s Chief Operating Officer, with responsibility for the implementation of the Company’s growth strategy.

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  • Bob Dorrance

    Group Head, Wholesale Banking, TD Bank Group and Chairman, CEO & President TD Securities


    photo of Bob Dorrance

    As Group Head Wholesale Banking, TD Bank Group and Chairman, CEO & President, TD Securities, Bob Dorrance leads the integrated investment dealer business of TD Bank Group. He is responsible for determining the strategic direction of the firm as well as the day-to-day management of the global wholesale investment dealer operations.

    Previously, Bob managed TD Securities' Institutional Equities' Sales, Trading and Research groups, as well as Equity Capital Markets and Proprietary Equity Trading, and was head of Investment Banking.

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  • Tim Hockey

    Group Head, Canadian Banking and Insurance, TD Bank Group and President and Chief Executive Officer TD Canada Trust


    photo of Tim Hockey

    As Group Head, Canadian Banking and Insurance and President and CEO, TD Canada Trust, Tim's primary responsibility is the leadership of Canadian banking, more commonly known as TD Canada Trust, which involves stewardship of Branch Banking, Business Banking, Insurance, Retail Banking Products & Services and Operations & Technology. Over a 26 year career with TD, he has held senior positions in a variety of areas including mutual funds, retail delivery, information technology, core banking and small business, credit cards and personal lending.

    A recipient of Canada’s “Top 40 Under 40” Award, Tim obtained an MBA from the University of Western Ontario in 1997, and now sits on the Advisory Board of the Richard Ivey School of Business.

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  • Strategic advisors

    Bernie Dorval, Deputy Chair, TD Canada Trust
    Bill Hatanaka, Special Advisor to the Group President and CEO and Director, TD Ameritrade


    Executive Vice Presidents


    • Corporate Office

      Dominic Mercuri
      Executive Vice President, Community, Environment and Chief Marketing Officer
      Corporate Office
      TD Bank Group

      Carol Mitchell
      Executive Vice President, Corporate Compliance and Regulatory Affairs
      Corporate Office
      TD Bank Group

      Christopher Montague
      Executive Vice President and General Counsel
      Corporate Office
      TD Bank Group

    • Wealth Management, Direct Channels and Corporate Shared Services

      William Fulton
      Executive Vice President, Private Client Group and Financial Advisory Wealth Management
      TD Bank Group

      Brian Joseph Haier
      Executive Vice President, Direct Channels and Distribution Strategy
      TD Bank Group

      Kevin Kessinger
      Executive Vice President, Chief Information Officer and Head Corporate Shared Services
      TD Bank Group

      Brian Murdock
      Executive Vice President, TD Asset Management Wealth Management
      TD Bank Group

      John Gordon See
      Executive Vice President, Discount Brokerage and Institutional Services Wealth Management, TD Bank Group and President
      TD Waterhouse Discount Brokerage and Planning

    • U.S. Personal and Commercial Banking - (TD Bank, America’s Most Convenient Bank)

      Nandita Bakhshi
      Executive Vice President, TD Bank Group and Head Product Management
      TD Bank, America’s Most Convenient Bank

      Fred Graziano
      Executive Vice President, TD Bank Group and Head Regional Retail Banking
      TD Bank, America’s Most Convenient Bank

      Walter Owens
      Executive Vice President, TD Bank Group and Head Regional Commercial Banking, North and Corporate Banking
      TD Bank, America’s Most Convenient Bank

      Paul Vessey
      Executive Vice President, TD Bank Group and Head of Strategic Initiatives TD Bank
      TD Bank, America’s Most Convenient Bank

    • Wholesale Banking

      Mark Faircloth
      Executive Vice President, Rates & Foreign Exchange Wholesale Banking
      TD Bank Group

      Patrick Meneley
      Executive Vice President, Investment Banking Wholesale Banking, TD Bank Group and Vice Chair, Investment Banking
      TD Securities

      Robbie Pryde
      Executive Vice President, Equity Wholesale Banking, TD Bank Group and Vice Chair, Institutional Equities and Global Origination
      TD Securities

    • Canadian Banking and Insurance

      Paul Douglas
      Executive Vice President, Business Banking, TD Canada Trust
      TD Bank Group

      William Goings
      Executive Vice President and President, TD Insurance
      TD Bank Group

      Shailesh Kotwal
      Executive Vice President, Retail Banking Products & Services, TD Canada Trust
      TD Bank Group

      Margo McConvey
      Executive Vice President, Operations and Technology, TD Canada Trust
      TD Bank Group

      Kerry Peacock
      Executive Vice President, Branch Banking, TD Canada Trust
      TD Bank Group


    Senior Vice Presidents


    • Corporate Office

      Craig Alexander
      Barbara Lynn Belo
      Carrie Blair
      Phillip Bowman
      Theresa Ann Bowman
      Norie Campbell
      Paul Clark
      Andrew Clarke
      Deborah Davis
      Jean Desgagne
      Suzanne Deuel
      Lisa Driscoll
      Linda Dougherty
      Allan Fielder
      Michael French
      Barbara Glasser
      Deborah Gravinese
      Paul Huyer
      Alan Jette
      Paul Langill
      Richard Mathes
      Christian McMillan
      Mary O’Hara
      Helena Pagano
      Neil Parmenter
      Rudy Sankovic
      Bruce Schouten
      Craig Andrew Scott
      Manjit Singh
      John David Sloan
      Kelvin Tran
      Peter van Dijk
      Paul Verwymeren

    • Wealth Management, Direct Channels and Corporate Shared Services

      Caroline Booth
      John Capozzolo
      Sandra Cimoroni
      Thomas Dyck
      Malcolm Eylott
      Roger Johnson
      Paal Kaperdal
      Rizwan Khalfan
      Kevin LeBlanc
      Paul Milkman
      Carol Osler
      David Pickett
      Satish Rai
      Michael Reilly
      Angus Rigby
      Dianne Salt
      Minaz Sarangi
      Brad Taylor
      Paul Whitehead

    • U.S. Personal and Commercial Banking - (TD Bank, America’s Most Convenient Bank)

      Scott Bacon
      David Boone
      Stephen Boyle
      Greg Braca
      Rick Burke
      Mike Carbone
      Mike Copley
      Mark Crandall
      Susan Cummings
      John Cunningham
      Denise DeMaio
      Joseph Fico
      William Fink
      James Gertie
      Chris Giamo
      Kevin Gillen
      Lynn Harton
      Jeff Henderson
      Rob Hoak
      Edward Hopkinson
      Brian Monday
      Perc Moser
      John Opperman
      Edward Pollock
      Suzanne Poole
      John Rosenfeld
      Brian Smith
      Gregory Smith
      Linda Verba

    • Wholesale Banking

      Ajai Bambawale
      John Coombs
      William Furlong
      Martine Irman
      Drew MacIntyre
      Adam Newman
      Brendan O’Halloran

    • Canadian Banking and Insurance

      Vivian Abdelmessih
      Monique Bateman
      Raymond Chun
      James Coccimiglio
      Howard Cohen
      Erik de Witte
      Gary Dunne
      Andrew Durnford
      Christopher Dyrda
      Francois Faucher
      Charles Hounsell
      Carolyn Kingaby
      Derek Koppe
      Christine Marchildon
      Ronald Joseph McInnis
      Louise Mitchell
      Joseph Monk
      Alexander Morley
      David Ian Morton
      David Pinsonneault
      Lisa Reikman
      Heather Ross
      Carrie Russell
      Jane Russell
      James Sallas
      Bruce Mark Shirreff
      Christopher Stamper
      Ian Bruce Struthers
      Timothy Thompson
      Jeffrey van Duynhoven
      Guy Vezina


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  • Principal subsidiaries


    Canada

    (millions of dollars) As at October 31, 2010
    CanadaAddress of Head or Principal OfficeCarrying value of shares owned by the Bank
    CT Financial Assurance Company (99.9%)Toronto, Ontario$125
    Meloche Monnex Inc.Montreal, Quebec1,357
        Security National Insurance CompanyMontreal, Quebec
            Primmum Insurance CompanyToronto, Ontario
            TD Direct Insurance Inc.Toronto, Ontario
            TD General Insurance CompanyToronto, Ontario
            TD Home and Auto Insurance CompanyToronto, Ontario
    TD Asset Finance Corp.Toronto, Ontario140
    TD Asset Management Inc.Toronto, Ontario591
        TD Waterhouse Private Investment Counsel Inc.Toronto, Ontario
    TD Financing Services Home Inc.Toronto, Ontario3
    TD Financing Services Inc.Toronto, Ontario521
    TD Investment Services Inc.Toronto, Ontario29
    TD Life Insurance CompanyToronto, Ontario44
    TD Mortgage CorporationToronto, Ontario10,008
        TD Pacific Mortgage CorporationVancouver, British Columbia
        The Canada Trust CompanyToronto, Ontario
    TD Mortgage Investment CorporationCalgary, Alberta533
    TD Nordique Investments LimitedVancouver, British Columbia356
    TD Parallel Private Equity Investors Ltd.Toronto, Ontario117
    TD Securities Inc.Toronto, Ontario3,470
    TD Timberlane Investments LimitedVancouver, British Columbia5,537
        TD McMurray Investments LimitedVancouver, British Columbia
        TD Redpath Investments LimitedVancouver, British Columbia
        TD Riverside Investments LimitedVancouver, British Columbia
    TD US P & C Holdings ULCCalgary, Alberta25,128
        TD Bank US Holding CompanyPortland, Maine
            TD Bank USA, National AssociationPortland, Maine
            TD Bank, National AssociationWilmington, Delaware
    TD Vermillion Holdings ULCCalgary, Alberta14,337
        TD Financial International Ltd.Hamilton, Bermuda
            Canada Trustco International LimitedSt. Michael, Barbados
            TD Reinsurance (Barbados) Inc.St. Michael, Barbados
        Toronto Dominion International Inc.St. Michael, Barbados
    TD Waterhouse Canada Inc.Toronto, Ontario1,950
    Truscan Property CorporationToronto, Ontario158


    Unless otherwise noted, the Bank, either directly or through its subsidiaries, owns 100% of the entity and/or 100% of any issued and outstanding voting securities and non-voting securities of the entities listed. Each subsidiary is incorporated in the country in which its head or principal office is located.


    United States and Other International

    (millions of dollars) As at October 31, 2010
    United StatesAddress of Head or Principal OfficeCarrying value of shares owned by the Bank
    TDAM USA Inc.Wilmington, Delaware$2
    Toronto Dominion Holdings (U.S.A.), Inc.New York, New York1,449
        TD Holdings II Inc.New York, New York
            TD Securities (USA) LLCNew York, New York
            Toronto Dominion (Texas) LLCNew York, New York
        Toronto Dominion (New York) LLCNew York, New York
        Toronto Dominion Capital (U.S.A.), Inc.New York, New York
        Toronto Dominion Investments, Inc.Houston, Texas
     
    Other International  
    Internaxx Bank S.A.Luxembourg, Luxembourg46
    NatWest Personal Financial Management Limited (50%)London, England59
        NatWest Stockbrokers LimitedLondon, England
    TD IrelandDublin, Ireland1,308
        TD Global FinanceDublin, Ireland
    TD Luxembourg International HoldingsLuxembourg, Luxembourg5,485
        TD AMERITRADE Holding Corporation (45.93%)Omaha, Nebraska
    TD Waterhouse Bank N.V.Amsterdam, The Netherlands260
    TD Waterhouse Investor Services (UK) LimitedLeeds, England94
        TD Waterhouse Investor Services (Europe) LimitedLeeds, England
    Toronto Dominion Investments B.V.London, England953
        TD Bank Europe LimitedLondon, England
        Toronto Dominion Holdings (U.K.) LimitedLondon, England
            TD Securities LimitedLondon, England
    Toronto Dominion (South East Asia) LimitedSingapore, Singapore763


    Unless otherwise noted, the Bank, either directly or through its subsidiaries, owns 100% of the entity and/or 100% of any issued and outstanding voting securities and non-voting securities of the entities listed. Each subsidiary is incorporated in the country in which its head or principal office is located. TD AMERITRADE Holding Corporation is not a subsidiary of the Bank as the Bank does not control it; TD Luxembourg International Holdings and its ownership of TD AMERITRADE Holding Corporation is included given the significance of the Bank's investment in TD AMERITRADE Holding Corporation.


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Corporate responsibility

We want to be The Better Bank. Discover how we're building on our commitments to customers, employees, the communities we serve and the environment.


TD's 2010 Corporate Responsibility Report will be available in March 2011.

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