Toronto-Dominion Bank, Canada’s second-largest lender by assets, is ramping up its U.S. asset-management business while doubling the number of advisers for wealthy American clients in an bid to accelerate profit.
Toronto-Dominion seeks to build on its March takeover of Epoch Investment Partners Inc., a New York-based money manager, while increasing wealth-management offerings for its bank customers from Maine to Florida, said Leo Salom, executive vice president of wealth management at the Toronto-based firm. Efforts include doubling the number of private-wealth advisers to 300 in the next 2½ years, he said.
