TD Securities in 2025?
Read a lot of post here on how good their culture is or their shitting diversity hirings. Wonder what is it actually like to work at TD in terms of deal flow after cowen merger and their reputation on the street?
Based on the most helpful WSO content, TD Securities has been actively working to expand its presence, particularly in the U.S., with notable moves like the acquisition of Cowen. This acquisition was seen as a strategic step to bolster their investment banking exposure in the U.S., especially in areas like M&A and ECM. Cowen was recognized as a solid middle-market player, and this merger likely enhanced TD's deal flow and capabilities in these segments. However, some users have pointed out that TD might need to pursue additional acquisitions to maintain growth momentum and compete with larger players.
In terms of culture, TD Securities is often praised for its supportive work environment, particularly in its Canadian offices. Juniors have reported better work-life balance compared to other banks, with fewer instances of toxic behavior like yelling or swearing. The Toronto office, in particular, is highlighted for its considerate approach to junior work-life balance, with average hours being slightly better than the industry norm. The New York office seems to echo similar sentiments, though the experience can vary depending on the group and deal activity.
As for reputation, TD is consistently ranked as a top bank in Canada, second only to RBC Capital Markets. While it is not yet a major player in the U.S., the Cowen acquisition and other growth initiatives are steps in the right direction. However, some users have expressed skepticism about whether TD can achieve significant U.S. market penetration without larger, transformational acquisitions.
In summary, TD Securities offers a strong culture, particularly in Canada, and is making strides in the U.S. market. The Cowen merger has likely improved their deal flow and reputation, but they still face challenges in becoming a dominant player on the global stage.
Sources: TD Securities Culture??!, TD Acquires Cowen, TD Securities IB 2020, TD Possible Takeover of Cowen, Make or Break the Economy | The Daily Peel | 3/22/23
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US office commentary, ChatGPT filter:
Pros:
Cons:
Final Thoughts:
It’s a solid place to begin a career, but not somewhere you'd want to stay long-term. The junior ranks include some sharp, likable people, which is a plus.
Any groups to avoid?
avoid FIG, Power and Real Estate
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the diversity complaints come from 1 dude and his 4 accounts after he got laid off from the toronto office and got blacklisted from canadian banks lmao
Still you suck though lmao
Target to reduce headcount by 2%
https://financialpost.com/fp-finance/banking/td-bank-profit-dips-beats-…
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