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  • Matt Ting

Why TD Securities for Investment Banking? / Overview of TD Securities


Overview


TD Securities is one of the leading investment banks in Canada and has a storied history as one of the Big 6 banks in Canada. Toronto-Dominion Bank, the parent company, has several divisions and operates as a full-service investment bank in Canada.


Notably, TD Securities acquired Cowen and Company, a middle market U.S. investment bank, for $1.3B in 2022. This deal will help improve TD's growing presence in the U.S., and allow them to compete at greater scale. TD joins RBC as another Canadian bank whose investment banking and corporate finance business is growing meaningfully in the U.S.


TD Securities Overview

Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with TD Securities, you should make sure you know:

  • 1 deal that the investment banking group has done

  • 1 person at the firm (ideally someone who would have influence over your recruiting process)

  • 1 business model-specific detail to mention


We articulate how you can answer this question thoughtfully in our Investment Banking Course. We also cover all technical and qualitative information you need to get a top investment banking offer.



Peak Frameworks Big 3 Qualitative Questions



Selected Transaction


TD Securities advises companies in every industry and has particular expertise in global mining, diversified industrials, and real estate. One significant example is when TD Securities advised Agnico Eagle's board of directors with a fairness opinion when Agnico Eagle merged with Kirkland Gold.

  • Transaction Description: Agnico Eagle (NYSE:AEM and TSX:AEM) and Kirkland Gold (NYSE:KL and TSX:KL) combined in a merger of equals. These companies merged to become a leader in gold mining and production. The companies primarily operate in Ontario and Quebec.

  • Transaction Value: US$22.4B post-merger market capitalization

  • Transaction Date: Closed February 2022

  • Press Release


TD Securities Transactions


Fact Sheet


TD Securities Logo

  • Company Name: TD Securities (part of Toronto-Dominion Bank)

  • Description: TD Securities is a Canadian investment bank and financial services provider that offers advisory and capital market services to corporate, government, and institutional clients worldwide. The firm provides services in corporate and investment banking, capital markets, and global transaction services. It is the investment bank of Toronto-Dominion Bank Group, and has offices in 18 cities worldwide with over 3,000 employees.

  • Bank Category: Canadian bulge bracket

  • Ticker: NYSE:TD and TSE:TD

  • Founded: 1987 (for TD Securities)

  • Employees: 3,000 (for TD Securities)

  • Chief Executive Officer: Bharat Masrani

  • Headquarters: Toronto, Canada


Resources



TD Securities Salary

Based on the H1B Database, the average base salary for an Investment Banking Analyst at TD is $85k - $95k.


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