Canada’s Toronto-Dominion Bank (TD Bank) is reportedly planning to hire additional 150 private-wealth advisers in the US over the next two years, as part of the bank’s strategy to boost its wealth management business in the country.
“The last few years have provided TD with the ability to seed what is a very significant US presence,” Reuters quoted Leo Salom, the bank’s executive vice president of wealth management, as saying.
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“Just in the (first) quarter (of 2014) we have 15 additional advisors on the high net worth side. We’re targeting to be able to run at that clip every quarter,” Salom added.
TD Bank, which currently employs from 150 private-wealth advisers in US, is planning to utilize its retail presence in 14 US states from Maine to Florida, Reuters has reported.
The Canadian bank also intends to utilize investing services of online broker TD Ameritrade, and the asset management capabilities it gained by acquiring Epoch Investment Partners Inc in 2013.
TD Wealth currently has two million customers and C$544 billion (US$492 billion) in total assets, most of that is in Canada.
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