TD Bank Financial Group 147th Annual Report 2002 Close Window Button
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Management's discussion and analysis of operating performance

How our businesses performed

The Bank’s operations and activities are organized around the following operating business segments: TD Canada Trust, TD Securities and TD Wealth Management.

TD Canada Trust is a leader in personal and commercial banking in Canada with about 10 million personal, small business and commercial customers. TD Canada Trust provides a full range of financial products and services to our personal customers – anywhere, anytime – through the telephone, the web, more than 2,600 automated banking machines, and our network of 1,154 branches conveniently located across the country offering the best banking hours in the business. TD Canada Trust also provides lending, deposit, savings and investment products to Canadian businesses, plus a full range of day-to-day banking, cash management, trade and treasury services.

TD Securities is a leading Canadian wholesale bank serving corporate, government and institutional clients around the world. TD Securities has developed a strong, diverse customer base with its proven ability to meet client needs by combining its knowledge and experience with a full range of capital markets and investment banking products and services that include:

  • advice on corporate strategy
  • underwriting and distributing capital
  • structuring tailored risk management solutions
  • executing financial transactions.

TD Wealth Management is one of Canada's largest asset managers, advisors and distributors of investment products, with $112 billion in assets under management and $234 billion in assets under administration. Also, TD Wealth Management provides mutual funds, pooled funds, segregated account management, full-service brokerage services and self-directed investing to retail, mass affluent and private client segments. In addition, investment management services are provided to pension funds, corporations, institutions, endowments, and foundations. TD Mutual Funds manages approximately $29 billion in 61 retail mutual funds and 30 managed portfolios for Canadian investors. TD Waterhouse discount brokerage is a world leader in self-directed investing, serving customers both directly and through joint ventures in Canada, the United States, the United Kingdom, Australia, India, Singapore, Hong Kong and Luxembourg. In July 2002, TD Bank Financial Group launched a new integrated approach to wealth management in Canada bringing together Financial Planning, Discount Brokerage and Investment Advice under the TD Waterhouse brand.

Results of each business segment reflect revenues, expenses, assets and liabilities generated by the businesses in that segment. The Bank utilizes the “cash basis” to measure and evaluate the performance of each segment. Cash basis results excludes non-cash charges related to goodwill and identified intangible amortization from business combinations. For further details see Note 18 on page 71 of the Bank’s consolidated financial statements.

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