TD Bank Creates New Commercial Bank from Commercial and Corporate and Specialty Bank Teams

Rhea-AI Summary

TD Bank has announced the creation of a new Commercial Bank by merging its Commercial and Corporate & Specialty Banking teams. This strategic move aims to enhance growth, improve client and colleague experience, and create efficiencies. President and CEO Greg Braca emphasized the need to leverage combined strengths for long-term growth. Chris Giamo will lead the new bank, which encompasses various lending sectors and aims to deliver competitive service lines to more than 9 million customers.

Positive

• Creation of a new Commercial Bank for enhanced growth and efficiency.
• Combining strengths of Commercial and Corporate & Specialty Banking teams.
• Leadership under experienced Chris Giamo, potentially improving service lines.

Negative

• None.

CHERRY HILL, N.J., Jan. 28, 2021 /PRNewswire/ -- TD Bank, America's Most Convenient Bank^®, announced today that it has combined its previous Commercial and Corporate and Specialty Banking teams to create a new Commercial Bank. The new Commercial Bank will drive growth, deliver a better client and colleague experience and create efficiencies.

"Our Commercial Bank and Corporate and Specialty Banking teams have repeatedly demonstrated that they can deliver strong results together in any economic cycle," said Greg Braca, President and CEO. "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."

With this change, the Corporate and Specialty Banking teams -- Asset Based Lending, Equipment Finance, Institutional Healthcare and Higher Education, Commercial Real Estate and Global Trade Finance -- will join the Commercial organization.

TD Bank's Commercial Bank previously encompassed Middle Market, community and small business lending, deposits, Treasury Management and point of sale solutions for companies within the Bank's Maine to Florida footprint. TD's Commercial Bank has vertical expertise in restaurant franchise, non-profits, medical and dental practice and U.S. Small Business Administration (SBA) lending and will now include the vertical markets of the previous Corporate and Specialty Banking portfolio.

Chris Giamo, Head of Commercial Bank, will lead the newly formed business. Marla Willner, who had led the bank's Corporate and Specialty Bank, will take on a new role leading Commercial Credit Management for TD as well as other strategic initiatives.

Giamo joined the bank in 1998 as the head of its New Jersey Middle Market Lending Group in New Jersey. After successfully growing and building the local Middle Market business, he held various positions of increasing responsibility in commercial and retail banking – including serving as Regional President for TD's New York Metro region. He was named Head of Commercial Bank in 2017.

Willner joined TD in 2000 and served for 15 years in various executive roles across multiple businesses, including Investment Banking, Capital Markets, Sales & Trading, and as Head of Credit Management for Corporate Banking. 

"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," said Giamo. "I'm honored to lead our combined team on behalf of our colleagues, customers and the communities we serve."

About TD Bank, America's Most Convenient Bank^®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth^®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.

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SOURCE TD Bank

FAQ

What is the new Commercial Bank created by TD Bank?

TD Bank combined its Commercial and Corporate & Specialty Banking teams to form a new Commercial Bank aimed at driving growth and improving efficiency.

Who is leading the new Commercial Bank at TD?

Chris Giamo will lead the newly formed Commercial Bank.

What are the objectives of TD Bank's new Commercial Bank?

The new Commercial Bank aims to enhance growth, improve client experience, and create operational efficiencies.

When was the new Commercial Bank announced by TD Bank?

The new Commercial Bank was announced on January 28, 2021.

What areas are included in TD Bank's new Commercial Bank?

The new Commercial Bank will include sectors like Asset Based Lending, Equipment Finance, Institutional Healthcare, and more.