- TD Waterhouse
TD Waterhouse is the brand used for both British and Canadian brokerages within the
TD Bank Financial Group . It was also formerly used for TD's American brokerage.TD's original brokerage was from the purchase of "Gardiner Group Stockbrokers", which was renamed "Greenline".
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 withE*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. [http://www.usatoday.com/money/industries/brokerage/2004-01-13-td-etrade_x.htm] [http://www.cbc.ca/money/story/2005/05/09/online-brokerage050509.html]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. As part of the deal, Ameritrade sold its Canadian operations to TD Bank who merged them with TD Waterhouse Canada. TDBFG's Waterhouse and Ameritrade holdings, along with TD Mutual Funds, are now organized under a division known as TD Wealth Management. [http://www.cbc.ca/money/story/2005/06/22/waterhouse-050622.html]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 and British divisions (which are 100% owned by TD) has retained the "TD Waterhouse" brand.The Chairman and Chief Executive Officer of TD Wealth Management is Bill Hatanaka, a former
Royal Bank of Canada executive. Before beginning his career in financial services, Hatanaka was educated atYork University and played the position of running back for theOttawa Rough Riders .ee also
*
TD Ameritrade External links
* [http://www.tdwaterhouse.ca/ TD Waterhouse Canada]
* [http://tdwaterhouse.co.uk/ TD Waterhouse UK]
Wikimedia Foundation. 2010.
