"We are very pleased to successfully complete this transaction," said Mike Pedersen, Group Head, Wealth Management, Insurance and Corporate Shared Services, TD Bank Group. "The acquisition of Epoch strengthens our U.S. business and also expands our offering for our institutional and retail clients in Canada. Their prudent approach to risk management and commitment to meeting the needs of their clients aligns well with our business. It’s an excellent opportunity for both firms to build on our respective strengths and accelerate our growth."
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"We have long been committed to building a world-class asset management firm, and this transaction adds resources which will enable Epoch to continue to attract top investment management talent while maintaining our brand name and operating structure," said William W. Priest, Chief Executive Officer, Epoch Investment Partners. "It’s a great outcome for Epoch clients and employees, and we are very pleased to be joining forces with TD."
"TD and Epoch share compatible cultures and complementary investment disciplines, and we are both focused on providing long-term risk-adjusted returns. Bringing together TD’s client-centric approach and Epoch’s expertise in U.S. and global equities will benefit both organizations in the future," said Tim Wiggan, Chief Executive Officer and Senior Vice President, TD Asset Management.
"With this acquisition now complete, we’re confident we can deepen our market share through our expanded suite of products, and by offering a legendary client experience to our clients in both Canada and the U.S.," added Wiggan.
With this transaction, TD expects to add approximately US$25.9 billion in assets under management at closing to the CDN$211 billion already under management by TD Asset Management. Epoch will continue to operate and serve its clients under its current brand name and operating structure.
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