Charles Schwab, TD Bank
TD to sell entire Charles Schwab investment
TD is selling its entire investment in Charles Schwab, representing 10.1% of economic ownership for what a source close to the matter expects to fetch $14 billion. Schwab, according to a Monday announcement, has agreed to repurchase $1.5 billion of its shares from TD, conditional on the completion of a registered offering.
The lender is investing more in its Canadian businesses as it adapts to regulatory restrictions imposed on its U.S.
Toronto-Dominion Bank will stick to its goal of fixing its anti-money laundering program and look to grow organically instead ...
TD Bank Group made changes to its senior executive team. Vladimir “Vlad” Shpilsky will lead platforms and technology and ...
“As part of our strategic review, we have been evaluating capital allocation and have made the decision to exit our Schwab investment,” TD Bank CEO Raymond Chun said in a statement.
Royal Bank remains very profitable. Adjusted return on equity (ROE) was 15.5% in fiscal 2024. Adjusted net income rose 10% last year to $17.4 billion. The bank finished fiscal 2024 with a solid ...
"We view this transaction favourably as it represents the first step in the strategic review to reallocate capital." ...
Greg Keeley, who most recently served as the senior vice president of platforms and technology at TD, will join SMBC in April ...
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