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top 20 in IBD NA. Obviously most of their deals are coming from the Canadian offices, but if you can work in IBD for them take it and don't look back.

They are looking to expand and I, like others, believe that I-banks with commercial banking units will take the reigns (Citi, BAML,JPM) and banks like GS, UBS, MS that don't have ATMS and brand recognition will drop. Plus hybrids can offer economies of scale which maximizes synergies. My point is that TD recently bought Commerce Bank and is now a top 6 commercial bank in NA. They will be making moves.

 

new york office is really small, with only a small handful of analysts. Mostly covers dcm and levfin, with some us coverage guys for tmt sector and otherwise just helping out with cross-border part of some canadian deals.

if you want to do capital markets for a major institution while still getting to work with a smaller team, it might be an interesting opportunity, otherwise there are better options out there.

Also, unlike RBC or even BMO, most of TD's united states expansion efforts have been focused on consumer/retail banking rather than corporate and investment banking, and as far as I know they dont have any really aggressive or realistic plans to get bigger in NYC IBD any time soon.

 

Yes, the houston office is focused on energy and power. TD recently hired Jim Rogers in February (former head of Deutsche Bank's US energy team) to lead its Houston team. They deal mainly with Cross Border energy M&A with Canada. TD's energy group out of Calgary is one of the most active, so hopefully that means something for the Houston office.

 

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