Following a meeting between Taoiseach Leo Varadkar and senior bank executives in Toronto yesterday, TD Securities confirmed that it will be expanding its operations in Ireland and, subject to regulatory approval, plans to establish a bond trading business there. The Dublin expansion is part of its growth strategy in Europe and will afford TD Securities the flexibility to meet the evolving needs of clients and respond to the changing business environment as a result of Brexit.
TD Securities is part of TD Bank Group, headquartered in Toronto, Canada and offering a full range of financial products and services to more than 25 million customers around the world. With more than 3,800 people in 13 offices around the world, TD Securities provides a wide range of capital markets products and services to corporate, government and institutional clients.
Speaking at the announcement in Toronto, Taoiseach Leo Varadkar TD, said he was delighted to have been involved in discussion with the bank’s senior executives on this new investment project. The Taoiseach said – “This is a great win for Ireland as we seek to deepen and expand the range of Financial Services companies who are investing in Ireland. TD Securities is a major player in world financial markets and I am particularly pleased that they have decided to expand their existing operations in Ireland.
“Trade missions such as the one I am just concluding are aimed specifically at helping to bring about these kinds of announcements. The Canadian banking system has a renowned reputation for both stability and innovation, and Ireland is delighted to welcome this new business to our shores. As we face into the challenges of Brexit, we are determined to pursue and seize new opportunities and investment projects from key companies worldwide.”
Welcoming the new project by TD Securities, Tánaiste Frances Fitzgerald TD said ” Ireland is now a major player and a very attractive location for international Financial Services companies from all over the world. We have the skills and structures to support new projects and to welcome new investors. TD Securities’ decision to expand here is an important landmark and I look forward to an ongoing mutually beneficial business relationship with Ireland. Initiatives like this one today by TD indicate those policies are working.”
“As we continue to grow our business in Europe, we are pleased to announce the expansion of our Dublin office, which will also position us well for all outcomes of Brexit negotiations,” said Peter Walker, Vice Chair and Regional Head Europe & Asia-Pacific, TD Securities. “TD Securities has a long standing history in Ireland and our fully licensed broker-dealer will continue to benefit from Ireland’s commitment to economic growth.”
Commenting on the announcement CEO of IDA Ireland Martin Shanahan said: “IDA Ireland has worked closely with TD Securities over the past year in the wake of the Brexit referendum. TD Securities has been operating in Ireland over the last 20 years and it stands to reason that they would choose Ireland to grow their European business. Ireland remains one of the top countries in the world in which to do business with a highly skilled work force, a consistent track record of being pro-business, and membership of the European market. I look forward to working with the company as they expand their operations in Ireland.”
Article from IDA Ireland