The newly formed Commercial Bank will consolidate products, services and expertise to drive portfolio growth and enhance the client experience
TD Bank branch in Chinatown, DC. (Credit: Matthew G. Bisanz/Wikipedia.)
TD Bank, a subsidiary of the Canadian multinational Toronto-Dominion Bank, has established a new Commercial Bank by combining its previous Commercial and Corporate and Specialty Banking teams.
The new Commercial Bank has been created to drive growth, deliver a better client and colleague experience and create efficiencies, said the company.
TD Bank president and CEO Greg Braca said: “Our Commercial Bank and Corporate and Specialty Banking teams have repeatedly demonstrated that they can deliver strong results together in any economic cycle.
“To continue their track record of success, we have merged these teams to build on their combined strengths and position them for long-term growth. Ultimately, it will help TD scale its core businesses and build the Commercial Bank of the future.”
In relation with the change, the Corporate and Specialty Banking teams including Asset Based Lending, Equipment Finance, Institutional Healthcare and Higher Education, Commercial Real Estate and Global Trade Finance will join the new Commercial Bank.
TD Bank said that its Commercial Bank has previously covered Middle Market, community and small business lending, deposits, Treasury Management and point of sale solutions for companies within its operations.
Also, the new offering had vertical expertise in restaurant franchise, non-profits, medical and dental practice and US Small Business Administration (SBA) lending, and is anticipated to include the vertical markets of the previous Corporate and Speciality Banking portfolio.
Commercial Bank head Chris Giamo will be appointed as a leader for the newly formed business, while Corporate and Specialty Bank leader Marla Willner will be appointed as the firm’s Commercial Credit Management leader, along with other strategic initiatives.
Giamo added: “This is an exciting opportunity to drive growth in our commercial banking division through highly competitive service lines and market expertise while delivering more of TD Bank to our more than 9 million customers across commercial and consumer banking.
“I’m honoured to lead our combined team on behalf of our colleagues, customers and the communities we serve.”