TD is Canada’s second largest bank by market capitalization and total assets. It enjoys a strong market position in most segments of the domestic retail banking sector, offering a full range of financial products and services to approximately 20.5 million customers worldwide (mainly Canada and US). The majority of TD’s business activity takes place in Canada, reporting 71% of gross loans compared to 27% of gross loans generated in the US. TD divides its operations into four distinct business segments: Canadian Personal and Commercial Banking, Wealth Management, Wholesales Banking and US Personal and Commercial Banking. The Canadian Personal and Commercial Banking arm includes TD Canada Trust, TD Commercial Banking, TD Insurance, MBNA and TD …show more content…
TD Insurance provides life, health, travel, home and auto insurance to more than 3 million customers through more than 1,000 TD Canada Trust branches, the Internet and telephone. Through MBNA, TD provides co-branded and affinity credit card programs in Canada. Through its Wealth Management segment (which includes TD Waterhouse Canada, TD Waterhouse UK, TD Wealth Management, TD Asset Management, TD Waterhouse Discount Brokerage, TD Waterhouse Private Client Services, TD Waterhouse Financial Planning, TD Asset Management and an investment in TD Ameritrade), TD provides brokerage, mutual fund, and other wealth management solutions to investors and financial advisors. TD’s Asset Management group is one of Canada’s largest asset managers, with C$ 46.7 billion in retail funds managed as at the end of 2008 (Toronto Dominion Bank, 2012). In the US, TD provides a full range of wealth management services to US individual investors through its investment in TD Ameritrade. The Wholesale Banking segment (which includes TD Securities) provides capital market products and services to corporations, governments and institutional investors in …show more content…
BNS provides financial products and services to individuals, small and large corporates as well as investment banking services to more than 18.6 million customers around the world. BNS’ business is divided into four business segments: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management. The Canadian Banking arm provides a wide range of financial products and services such as mortgages, loans, credit cards, cash management and leasing to about 7.6 million customers (individuals, small to large businesses) through a national network of approximately 950 branches. BNS’ International Banking business line consists of its retail and commercial banking operations in over 45 countries other than Canada. This segment employs 48,000 people, which accounts for 63% of its total full time equivalent workforce. Scotia Capital is the group’s wholesale banking arm, which offers tailored financial products and services to corporate, government and institutional clients in many of the countries it has a physical presence. Some of the services offered by Scotia Capital globally are corporate lending, equity and debt underwriting, mergers & acquisitions advisory services, as well as capital markets products and services, such as fixed income; derivatives; prime brokerage;
Its trading volume increased to over 17.7 million contracts, up 21 per cent from the previous year. This significant growth is largely due to strong growth in interest-rate and index derivatives products, which increased 40 per cent and 15 per cent respectively. In addition, the underlying value of contracts traded averaged more than $30 billion (currency is of Canadian Dollars) on a daily basis, compared to $20 billion in 2002.Though the Montreal Exchange was doing fine on its own joining together with the Toronto Exchange has made the
TD has established a formal process for taking care of complaints and has solicited effective feedback measure by phone and online. These procedures were all accomplished by the newly founded Ombudsman office which is an independent body internally in charge with specifically reviewing customer complaints. The goal for this office is to alleviate the communication process between customers and other facets of the TD Bank Group in Canada such as TD Finance and TD Wealth (Office of the Ombudsman, n.d.). Customer service from TD is one of the multitude of competitive advantages that it has and it is because of the effectiveness of these recent implemented measures that look fairly
The company faces intense competition for the clients that it serves and the products and services it offers. There has been significant consolidation as financial institutions with which the company competes have been acquired by or merged into or acquired other firms. For instance, in November 2010, The Charles Schwab Corporation acquired Windward Investment Management, Inc. for $150 million in cash and stock. In June 2009, TD Ameritrade completed the acquisition of thinkorswim Group Inc. thinkorswim is among the fastest growing online brokerage firms and has unique trading and investor education capabilities, particularly for the fastest growing segment of the industry-options trading. So, this acquisition underscores TD AMERITRADE's position as a successful industry consolidator. Consolidation in discount brokerage industry is creating larger rivals to compete with.
A Report on NatWest Bank and an Analysis of the Banking Industry 1. Introduction This report focuses on NatWest and the industry in which it operates. The purpose of the report is to give a concise but accurate view of how NatWest operates as an organisation and the links between its environment, in this case the banking industry. Company History =
6th most valuable international banking brand. Core Business • Retail Banking • Corporate & Investment Banking • BNL Banca Commeriale • International Retail Services • Asset Management & Services • Other activities. Banca Nazionale del Lavoro BNL is the sixth Italian banking group and ranks amongst the top 60 European banks and the top 100 banks in the world in terms of total assets.
Barclays group PLC is one of the largest financial providers in America, Europe, Asia, Australia, Africa and Middle East. , It which is mainly engaged deals with credit cards, retail banking, investment banking, corporate banking, and wealth management. The bank is made up of investment and corporate banking, global retail banking and wealth management, each of which has several business units (Burn, Cartwright &Maudsley, 2009).
Comparing Canada and United States Banking System History of the use of currency The use of currency in Canada has evolved much over time, starting from the early 1600s to date. This is also the same period that America started using currencies. In the early 1600s, in Canada, beaver pelts were the universally accepted medium of exchange. In the mid-1600s, Wampum made from shell beads replaced the beaver pelts as the country’s currency.
Barclays’ Internal and External Customers Barclays offers a wide range of services to both internal and external customers. Internal customers are member of staff/colleagues that work in an organisation. Examples of internal customers in Barclays include: Small Business Managers, Customer Relations Team, telephone operators, Financial Planning Managers, Customer Service staff, Counter staff, Accountants, Consumer Relations Team, and Relationship Managers. External customers are the majority of individuals who lives in the local areas. Examples of external customers of Barclays include: disabled people, elderly, foreign people, parents, couples, widows, divorcees and students (from schools, colleges, and universities).
Since federalism was introduced as an aspect of Canadian political identity, the country has undergone multiple changes as to how federalism works; in other words, over the decades the federal and provincial governments have not always acted in the same way as they do now. Canada, for example, once experienced quasi-federalism, where the provinces are made subordinate to Ottawa. Currently we are in an era of what has been coined “collaborative federalism”. Essentially, as the title would suggest, it implies that the federal and provincial levels of government work together more closely to enact and make policy changes. Unfortunately, this era of collaborative federalism may be ending sooner rather than later – in the past couple decades, the federal and provincial governments have been known to squabble over any and all policy changes in sectors such as health, the environment and fiscal issues. Generally, one would assume that in a regime employing collaborative federalism there would be a certain amount of collaboration. Lately, it seems as though the only time policy changes can take place the federal government is needed to work unilaterally. One area in which collaborative federalism has been nonexistent and unilateral federalism has prevailed and positively affected policy changes is in the Post-Secondary Education (PSE) sector.
Toronto-Dominion bank Introduction According to the Toronto-Dominion Bank (TD) corporate profile, The Toronto-Dominion bank was formed on February 1, 1995 through the amalgamation of The Bank of Toronto and The Dominion Bank. The Toronto-Dominion bank and its subsidiaries are collectively known as TD Bank Group that offers a full range of financial products and services through the Canadian retail, US retail and wholesale banking. Canadian retail includes TD Canada Trust, Business Banking, TD Auto Finance(Canada), TD Wealth(Canada), TD Direct Investing, TD Insurance. US retail includes TD bank, American’s most convenient bank, TD auto finance(US), TD health (US) and TD investment in TD Ameritrade.
The federal government of Canada does play an important role in higher education policy, but it is a role that has evolved through the constant dancing of federal-provincial relations to the frequently discordant tune of Canada’s constitutional debate (Jones 2004). The Canadian federal system with responsibility for high education is like no other in the developed industrialised world. In effect the federal government is constitutionally deprived for social welfare, health and education. On the other hand it is the federal responsibility for concerns of national interest, equality of treatment and opportunity, economic development, and Indians and lands reserved for Indians. A very unique paradox which has led to several clashes between the feds and the provinces.
• W. S. Livingston: “Federalism is a function not of constitutions but of societies” o Political systems perceived as superstructures devoid of autonomy and lacking independent coercive and moulding power vis-a-vis their environment • Thesis: Canadian federalism is not a function of societies, but of constitutions, more specifically the governments that work the constitution • Establishment of the federal system in 1867 led to competitive political and bureaucratic elites at two separate levels of government, federal and provincial, who possess jurisdictional, financial, administrative, and political resources for their own interests • Preservation of jurisdictional competence and territorial integrity is necessary for the survival of
(Reddy, Cognizant Research Center). Assessment of Industry: - The Canadian financial system consists of 14 domestic
Customers and Geographic areas As seen in the products/services BOA serves, the customer can be mainly divided into the individual and the business. Each strategy focuses on each target, meeting their customers’ needs. The major customer groups are individuals, companies and institutional investors. Bank of America provides individuals with many different financial products and services to help plan for their financial life. It helps companies plan for their financial development and provides financial products such as loans.
Generally it is extremely difficult to access branches banking data. And thus, the institutional level will be reconsidered. Assessing the performance of Canadian banks is