TD Waterhouse
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TD Waterhouse is the brand used for both British and Canadian brokerages within the TD Bank Financial Group.
The brand originated as a United States brand for discount brokerage when TD purchased Waterhouse Securities. The name TD Waterhouse was formed and was used for TD's British, Canadian and U.S. brokerage activities. In Canada, TD Waterhouse thus replaced the brand Greenline.
In 2003, the Toronto-Dominion Bank held talks to merge Waterhouse with E*TRADE, which would have created the second-largest discount broker in the US after Charles Schwab, but the two sides could not come to an agreement over control of the merged entity.[1][2] In 2005, E*TRADE made an unsoliticted offer for Ameritrade, currently the second largest US discount broker. However, Ameritrade instead purchased TD Waterhouse, with TD Bank holding a 39% stake in the new entity.[3]
When TD merged its U.S. brokerage activities with Ameritrade, the newly formed U.S. broker formed the brand TD Ameritrade (which TD owns 39% of), but the Canadian division (which is 100% owned by TD) has retained the TD Waterhouse brand.
The Chairman and Chief Executive Officer of TD Waterhouse is Bill Hatanaka, who was educated at York University in Toronto.
Before beginning his career in financial services, Bill was a running back for the Ottawa Rough Riders.
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| Toronto-Dominion Bank | |
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Chief Executive Officer: W. Edmund Clark | FY 2005 Statistics: Net income: $2.2 billion CAD (▲0%) | Market capitalization: $39.6 billion CAD | Assets: $365.2 billion CAD | Employees: 50,991 | Stock symbols: TSX: TD NYSE: TD TYO: 8640 | Website: www.td.com |
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| Major brands by financial service | |
| Master: TD | Financial group: TD Bank Financial Group | Canadian banking: TD Canada Trust | U.S. banking: TD Banknorth, TD Commerce Bank| Canadian mutual funds: TD Mutual Funds | Canadian brokerage: TD Waterhouse | U.S. brokerage: TD Ameritrade | Canadian insurance: TD Insurance | Capital markets: TD Securities |
