TD Bank to buy Epoch Holding in agreement worth US$668 mil.
December 8, 2012, 12:05 am TWN
TORONTO -- TD Bank Group plans to buy Epoch Holding Corp. in a US$668 million cash deal that will give the Canadian bank a U.S. asset manager to help its North American wealth business.
Colleen Johnston, chief financial officer for TD Bank, said the deal accelerates TD's growth strategy in its U.S. wealth management business. TD Bank has been expanding aggressively in retail banking in the U.S. in recent years.