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In Canada, the bank operates through its TD Canada Trust division and serves more than 11 million customers at over 1,091 branches. In the United States, the company operates through their subsidiary TD Bank, N.A., which was created through the merger of TD Banknorth and Commerce Bank.
TD Canada Trust branch in Edmonton, Alberta. The Bank of Toronto (founded in 1855) and The Dominion Bank (founded in 1869) merged on 1 February 1955 to form TD Bank. Canada Trust, founded in 1864 in London, Ontario as Huron and Erie Savings and Loan Society, was acquired by TD Bank in 2000, after which TD adopted the new brand name "TD Bank Financial Group".
Traders Bank of Canada 1885 1912 Acquired by the Royal Bank of Canada. [167] Union Bank of Canada: 1865 1925 Founded as the Union Bank of Lower Canada, the name changed to the Union Bank of Canada in 1886. [168] Merged into the Royal Bank of Canada. [169] Union Bank of Halifax: 1856 1910 Merged into the Royal Bank of Canada. [170] Union Bank of ...
In 1976, Huron and Erie changed its name to Canada Trustco Mortgage Company and continued to operate Canada Trust as a subsidiary. Canada Trust was a trust company that offered the same services as a bank. It was one of Canada's largest non-bank financial institutions, with $38 billion in deposits and $176 billion in assets. It had 11,000 ...
Amendments to the Bank Act in 1991 allowed bank holding companies for the first time to acquire trust companies. Since 1991, most of Canada's major trust companies have been acquired by banks. Canadian trust companies with federal incorporations are regulated by the Trust and Loan Companies Act. [5]
However, Commerce Bank based in Worcester, Massachusetts challenged the new name. As a result, TD renamed its US subsidiary TD Bank at end of 2009. [39] TD is the sixth-largest bank by branch network in North America, after JPMorgan, Bank of America, Wells Fargo, PNC, and US Bank.
In December 2010, Toronto-Dominion Bank announced it would acquire Chrysler Financial for $6.3 billion from private equity firm Cerberus Capital Management. The company was renamed TD Auto Finance in early June 2011. [3] TD has more than 83,000 employees worldwide, offering a range of financial products and services to almost 25 million ...
TD Waterhouse Canada Inc. is a Canadian financial services corporation headquartered in Toronto, Ontario.It is a wholly owned subsidiary of Toronto-Dominion Bank.The company does business through several divisions, namely TD Direct Investing, TD Wealth Financial Planning, and TD Wealth Private Investment Advice. [1]