04:18:34 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,750,313,719
Close 2025-01-08 C$ 77.92
Market Cap C$ 136,384,444,984
Recent Sedar Documents

FP/wire say TD's Chun signals Schwab stake up for grabs

2025-01-09 09:32 ET - In the News

The Financial Post reports in its Thursday edition that TD Bank will consider the fate of its 10.1-per-cent stake in Charles Schwab Corp. as part of a strategic review stemming from the Canadian bank's U.S. money-laundering scandal. A Bloomberg dispatch to the Post quotes incoming chief executive officer Raymond Chun saying that he is weighing several options for the lender, which faces regulatory limits on growing its U.S. retail-banking operations. The bank suspended its medium-term financial targets and announced the review of company strategy and spending in December. "If you think about the Schwab investment, that is part of the capital-allocation review that we are doing as part of the strategic review," Mr. Chun said, speaking in Toronto at RBC Capital Markets' Canadian bank chief executive conference. TD Bank has said that Mr. Chun will provide updates on quarterly calls and that it will hold an investor day in the second half of this year. Mr. Chun said TD's ownership of Schwab shares is separate from its agreement with the firm to make sweep-deposit accounts available to Schwab clients. With sweep programs, uninvested cash in brokerage accounts is automatically transferred into higher-interest accounts.

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