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词条 TD Waterhouse
释义

  1. Personnel

  2. References

  3. External links

{{Infobox company
| name = TD Waterhouse
| trading_name = TD Bank Group
| logo =
| type = Public
| traded_as = {{TSX|TD}}
{{NYSE|TD}}
S&P/TSX 60 component
| location = Toronto, Ontario, Canada
| parent = Toronto–Dominion Bank
| industry = Financial services
}}TD Waterhouse is the brand used for a Canadian brokerage within Toronto–Dominion Bank. It was also formerly used for TD's American and British brokerages.[1]

TD's original brokerage, Greenline Investor Services, was established in 1984. Greenline Investor Services merged with Gardiner Group Stockholders in 1987, becoming the first Canadian bank to purchase seats on the Toronto, Montreal, Vancouver and Alberta stock exchanges. In 1993, Greenline Investor Services acquired the operations of Marathon Brokerage, a Canadian discount brokerage.[2]

The brand originated as a United States brand for discount brokerage when TD purchased Waterhouse Securities in 1996. 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 June 1999, TD spun off 42 million shares or 12.4% of TD Waterhouse in an IPO, with shares priced at $35.28 CAD or $24 USD per share, earning $1.01 billion USD. In 2001, with the bursting of the dot-com bubble and lower trade volumes that brought down Waterhouse's share price, TD bought back that minority stake at $9 USD per share for only $378 million USD, earning a tidy profit on the privatization. The acquisition was conditional on TD owning at least 90 percent of Waterhouse's outstanding common shares, and it owned almost 89 percent when the privatization was announced.[3][4]

In 2003, Toronto–Dominion Bank held talks to merge Waterhouse with E*TRADE, which would have created the second-largest discount broker in the United States after Charles Schwab, but the two sides could not come to an agreement over control of the merged entity.[5][6]

In 2005, E*TRADE made an unsolicited offer for Ameritrade, then the second-largest US discount broker. However, Ameritrade instead purchased TD Waterhouse USA, 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.[7]

When TD merged its U.S. brokerage activities with Ameritrade, the newly formed U.S. broker formed the brand TD Ameritrade (of which TD owns 39%), but the Canadian division (100% owned by TD) retained the TD Waterhouse brand. In December 2012, TD Waterhouse changed its name to TD Direct Investing.[8]

TD Direct Investing Europe, a discount broking subsidiary in the United Kingdom which also used the TD Waterhouse brand, was sold in 2016 to Interactive Investor in a deal financed by JC Flowers.[9]

Personnel

The Chairman and Chief Executive Officer of TD Wealth Management was Bill Hatanaka, a former Royal Bank of Canada executive. Before beginning his career in financial services, Hatanaka was educated at York University and played the position of running back for the Ottawa Rough Riders. Mike Pederson is the current Group Head for Wealth Management, Insurance, and Corporate Shared Services.

References

1. ^{{cite web|url=http://www.tddirectinvesting.co.uk/about-us/company-profile/company-history/|title=TD Direct Investing Company History|accessdate=2012-07-07}}
2. ^{{cite web|title=TD's Timeline|url=http://www.td.com/about-tdbfg/corporate-information/tds-history/historical-timeline/timeline.jsp|publisher=www.td.com|accessdate=8 December 2015}}
3. ^{{cite web|title=TD Waterhouse IPO proves popular|url=http://www.cbc.ca/news/business/story/1999/06/23/tdbank990623.html|publisher=www.cbc.ca|accessdate=8 December 2015}}
4. ^{{cite web|title=TD Bank to take TD Waterhouse private|url=http://www.cbc.ca/news/business/story/2001/10/10/waterhouse_011010.html|publisher=www.cbc.ca|accessdate=8 December 2015}}
5. ^{{cite web|title=TD Waterhouse, E-Trade talk merger|url=http://usatoday30.usatoday.com/money/industries/brokerage/2004-01-13-td-etrade_x.htm|publisher=USA Today|accessdate=8 December 2015}}
6. ^{{cite web|title=E-Trade makes offer for Ameritrade: report|url=http://www.cbc.ca/news/business/e-trade-makes-offer-for-ameritrade-report-1.532145|publisher=www.cbc.ca|accessdate=8 December 2015}}
7. ^{{cite web|title=Ameritrade to acquire TD Waterhouse USA|url=http://www.cbc.ca/news/business/story/2005/06/22/waterhouse-050622.html|publisher=www.cbc.ca|accessdate=8 December 2015}}
8. ^http://www.sparxtrading.com/discount-brokerage-news/td-waterhouse-discount-brokerage-td-direct-investing/
9. ^{{Cite web|url=https://www.ft.com/content/54ef4116-9082-11e6-8df8-d3778b55a923|title=TD Direct Investing bought by ‘challenger’ broker|last=Williams|first=Aime|date=13 October 2016|website=Financial Times|language=en-GB|archive-url=|archive-date=|dead-url=|access-date=19 March 2018|subscription=yes}}

External links

  • TD Waterhouse Canada

2 : Toronto–Dominion Bank|Stock brokerages and investment banks of Canada

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