Businesses
Driving Growth Through Four Key Business Segments
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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
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You can find out more about these businesses and our leadership team below.
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Senior Executive Team
Ed Clark
Group President and Chief Executive Officer
TD Bank Group
Riaz Ahmed
Group Head, Corporate Development, Enterprise Strategy and Treasury
TD Bank Group
Mark Chauvin
Group Head and Chief Risk Officer, Risk Management
Corporate Office
TD Bank Group
Teri Currie
Group Head, Marketing, Corporate and People Strategies
Corporate Office
TD Bank Group
Colleen Johnston
Group Head, Finance and Chief Financial Officer
Corporate Office
TD Bank Group
Frank McKenna
Deputy Chair
TD Bank Group
Mike Pedersen
Group Head, Wealth Management, Direct Channels and Corporate Shared Services
TD Bank Group
Bharat Masrani
Group Head, U.S. Personal and Commercial Banking, TD Bank Group and President & CEO
TD Bank, America’s Most Convenient Bank
Fred Tomczyk
President and Chief Executive Officer
TD Ameritrade
Bob Dorrance
Group Head, Wholesale Banking, TD Bank Group and Chairman, CEO & President
TD Securities
Tim Hockey
Group Head, Canadian Banking and Insurance, TD Bank Group and President and Chief Executive Officer
TD Canada Trust
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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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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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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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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 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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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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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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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
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 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
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
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
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Corporate Office
Dominic Mercuri
Executive Vice President, Community, Environment and Chief Marketing Officer
Corporate Office
TD Bank GroupCarol Mitchell
Executive Vice President, Corporate Compliance and Regulatory Affairs
Corporate Office
TD Bank GroupChristopher 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 GroupBrian Joseph Haier
Executive Vice President, Direct Channels and Distribution Strategy
TD Bank GroupKevin Kessinger
Executive Vice President, Chief Information Officer and Head Corporate Shared Services
TD Bank GroupBrian Murdock
Executive Vice President, TD Asset Management Wealth Management
TD Bank GroupJohn 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 BankFred Graziano
Executive Vice President, TD Bank Group and Head Regional Retail Banking
TD Bank, America’s Most Convenient BankWalter Owens
Executive Vice President, TD Bank Group and Head Regional Commercial Banking, North and Corporate Banking
TD Bank, America’s Most Convenient BankPaul 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 GroupPatrick Meneley
Executive Vice President, Investment Banking Wholesale Banking, TD Bank Group and Vice Chair, Investment Banking
TD SecuritiesRobbie 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 GroupWilliam Goings
Executive Vice President and President, TD Insurance
TD Bank GroupShailesh Kotwal
Executive Vice President, Retail Banking Products & Services, TD Canada Trust
TD Bank GroupMargo McConvey
Executive Vice President, Operations and Technology, TD Canada Trust
TD Bank GroupKerry Peacock
Executive Vice President, Branch Banking, TD Canada Trust
TD Bank Group
Senior Vice Presidents
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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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Canada
(millions of dollars) As at October 31, 2010 Canada Address of Head or Principal Office Carrying value of shares owned by the Bank CT Financial Assurance Company (99.9%) Toronto, Ontario $ 125 Meloche Monnex Inc. Montreal, Quebec 1,357 Security National Insurance Company Montreal, Quebec Primmum Insurance Company Toronto, Ontario TD Direct Insurance Inc. Toronto, Ontario TD General Insurance Company Toronto, Ontario TD Home and Auto Insurance Company Toronto, Ontario TD Asset Finance Corp. Toronto, Ontario 140 TD Asset Management Inc. Toronto, Ontario 591 TD Waterhouse Private Investment Counsel Inc. Toronto, Ontario TD Financing Services Home Inc. Toronto, Ontario 3 TD Financing Services Inc. Toronto, Ontario 521 TD Investment Services Inc. Toronto, Ontario 29 TD Life Insurance Company Toronto, Ontario 44 TD Mortgage Corporation Toronto, Ontario 10,008 TD Pacific Mortgage Corporation Vancouver, British Columbia The Canada Trust Company Toronto, Ontario TD Mortgage Investment Corporation Calgary, Alberta 533 TD Nordique Investments Limited Vancouver, British Columbia 356 TD Parallel Private Equity Investors Ltd. Toronto, Ontario 117 TD Securities Inc. Toronto, Ontario 3,470 TD Timberlane Investments Limited Vancouver, British Columbia 5,537 TD McMurray Investments Limited Vancouver, British Columbia TD Redpath Investments Limited Vancouver, British Columbia TD Riverside Investments Limited Vancouver, British Columbia TD US P & C Holdings ULC Calgary, Alberta 25,128 TD Bank US Holding Company Portland, Maine TD Bank USA, National Association Portland, Maine TD Bank, National Association Wilmington, Delaware TD Vermillion Holdings ULC Calgary, Alberta 14,337 TD Financial International Ltd. Hamilton, Bermuda Canada Trustco International Limited St. Michael, Barbados TD Reinsurance (Barbados) Inc. St. Michael, Barbados Toronto Dominion International Inc. St. Michael, Barbados TD Waterhouse Canada Inc. Toronto, Ontario 1,950 Truscan Property Corporation Toronto, Ontario 158
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 States Address of Head or Principal Office Carrying value of shares owned by the Bank TDAM USA Inc. Wilmington, Delaware $ 2 Toronto Dominion Holdings (U.S.A.), Inc. New York, New York 1,449 TD Holdings II Inc. New York, New York TD Securities (USA) LLC New York, New York Toronto Dominion (Texas) LLC New York, New York Toronto Dominion (New York) LLC New 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, Luxembourg 46 NatWest Personal Financial Management Limited (50%) London, England 59 NatWest Stockbrokers Limited London, England TD Ireland Dublin, Ireland 1,308 TD Global Finance Dublin, Ireland TD Luxembourg International Holdings Luxembourg, Luxembourg 5,485 TD AMERITRADE Holding Corporation (45.93%) Omaha, Nebraska TD Waterhouse Bank N.V. Amsterdam, The Netherlands 260 TD Waterhouse Investor Services (UK) Limited Leeds, England 94 TD Waterhouse Investor Services (Europe) Limited Leeds, England Toronto Dominion Investments B.V. London, England 953 TD Bank Europe Limited London, England Toronto Dominion Holdings (U.K.) Limited London, England TD Securities Limited London, England Toronto Dominion (South East Asia) Limited Singapore, Singapore 763
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.
- PDF downloads
- Management's Discussion and Analysis (1260 KB)
- Consolidated Financial Statements (1300 KB)
- Ten-year Statistical Review (134 KB)
- Principal Subsidiaries (53 KB)
- Glossary (36 KB)
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.
