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What are some interesting facts about TD Waterhouse?

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Quick Answer

TD Waterhouse is the Canadian brand name used for a brokerage group within the Toronto-Dominion Bank, with headquarters in Toronto, Ontario. It is part of the TD Bank Group, a publicly traded company in the financial services industry.

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Full Answer

The TD Waterhouse name was also previously used for the American and British brokerage groups, but they have since changed to TD Ameritrade and TD Direct Investing respectively. Many different mergers and acquisitions have taken place throughout TD's history, which has given parts of the company varying names over the past 30 years.

TD's original brokerage group, Greenline Investor Services, was founded in 1984. Following a merger with Gardiner Group Stockholders three years later, Greenline became the first Canadian bank to purchase seats on the Toronto, Montreal, Vancouver and Alberta stock exchanges. During the 1990s, Greenline also acquired the operations of Marathon Brokerage, and later assumed the name TD Waterhouse when TD purchased Waterhouse Securities.

In 2003, Toronto-Dominion Bank held deliberations for a possible merger of the Canadian group of Waterhouse with E*TRADE, but the two sides could not come to a mutual agreement on who would have control of the merged entity. Two years later, the American division of TD Waterhouse was bought out by Ameritrade, and Ameritrade sold its Canadian division to TD Bank, who then merged them with TD Waterhouse.

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