TORONTO, Dec. 6 /CNW/ - TD Securities today announced the creation of its Global Precious Metals (GPM) business, a wholesale sales and trading business specializing in the gold, silver, platinum and palladium markets.
Operating from centres in Toronto, London and Singapore, Global Precious Metals provides a fully-integrated service to TD Securities' mining sector clients and creates further synergies between the firm's investment banking, foreign exchange and equities businesses.
"This is a natural compliment to our mining investment banking franchise." said Patrick Meneley, Vice Chair, Investment Banking at TD Securities. "By adding this sales and trading expertise, we are further enhancing our client experience."
A key element of TD Securities' Global Precious Metals business is metals trading, which allows the Dealer to leverage TD's established distribution capabilities and benefit from the bank's high credit rating. Led by Tim Gardiner, Managing Director, Global Precious Metals, the 24-hour metals sales and trading business is staffed by personnel with global experience in metals options and derivatives trading.
"Our GPM business features many positive differentiators, including a strong TD brand and global reputation and excellent relationships within the mining, central bank and hedge fund sectors," said Mr. Gardiner. "However, our true competitive advantage is the quality of the people on the desk, who have a deep understanding of the market and are focused on delivering value to the client."
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in North America by branches and serves more than 18 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading online financial services firms, with more than 6 million online customers. TD Bank Financial Group had CDN$603 billion in assets on July 31, 2010. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
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