Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript - Thomson StreetEvents

Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript

Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript - Thomson StreetEvents
Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript
Published Aug 02, 2022
19 pages (11821 words) — Published Aug 02, 2022
Price US$ 54.00  |  Buy this Report Now

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Abstract:

Edited Transcript of TD.TO M&A conference call or presentation 2-Aug-22 12:30pm GMT

  
Brief Excerpt:

...Operator Good morning, everyone, and welcome to the TD Bank Group's conference call. I would now like to turn the meeting over to Ms. Brooke Hales. Please go ahead, Ms. Hales Brooke Hales Good morning, and welcome to TD Bank Group's conference call concerning TD's acquisition of Cowen. My name is Brooke Hales, and I'm the Head of Investor Relations at the bank. We will begin today's presentation with strategic remarks from Barrat Masrani, the bank's CEO. Next, Riaz Ahmed, President and CEO of TD Securities, will provide more detailed commentary on the transaction. He will also ask Jeffrey Solomon, the Chair and CEO of Cowen, to share a few thoughts. Kelvin Tran, the bank's CFO, will then present the key financial details. Finally, Barratt will offer concluding remarks. We will then open the call for questions from prequalified analysts and investors. Also present on the call to take questions today is Ajay Bambawale, the bank's Chief Risk Officer. Please turn to Slide 2. At this time, I...

  
Report Type:

Transcript

Source:
Thomson StreetEvents
Company:
Toronto-Dominion Bank
Ticker
TD.TO
Time
12:30pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : on the deal. Just want to clarify a couple of capital-related items. One, I guess similar to Doug's question earlier, what I'm surprised that you're describing the deal is neutral to see you're raising more capital from the Schwab they all than what it cost to buy this thing. Your deduction goes down for significant investments in other financial institutions. And then the gain on sale, I would have assumed a more positive impact on -- Maybe you can clarify what I might be missing? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : Got it. Okay. And then I guess, I mean, the comfortably above 11% -- that you're using to describe your pro forma position, the First Horizon deal. That's a bit more bullish, I guess, than what you were stating when you announced the deal 5 6 months ago. Is that mainly because of the hedge is obvious here...

Question: Gabriel Dechaine - National Bank Financial, Inc., Research Division - Analyst : Okay. And when did you approach Cowen? I mean not a...

Table Of Contents

Toronto-Dominion Bank at Royal Bank of Canada Canadian Bank CEO Conference Transcript – 2023-01-09 – US$ 54.00 – Edited Transcript of TD.TO presentation 9-Jan-23 3:50pm GMT

Toronto-Dominion Bank Q4 2022 Earnings Call Transcript – 2022-12-01 – US$ 54.00 – Edited Transcript of TD.TO earnings conference call or presentation 1-Dec-22 6:30pm GMT

Toronto-Dominion Bank at Barclays Global Financial Services Conference Transcript – 2022-09-14 – US$ 54.00 – Edited Transcript of TD.TO presentation 14-Sep-22 11:30am GMT

Toronto-Dominion Bank at Scotiabank Financials Summit (Virtual) Transcript – 2022-09-07 – US$ 54.00 – Edited Transcript of TD.TO presentation 7-Sep-22 4:30pm GMT

Toronto-Dominion Bank Q3 2022 Earnings Call Transcript – 2022-08-25 – US$ 54.00 – Edited Transcript of TD.TO earnings conference call or presentation 25-Aug-22 5:30pm GMT

Toronto-Dominion Bank Q2 2022 Earnings Call Transcript – 2022-05-26 – US$ 54.00 – Edited Transcript of TD.TO earnings conference call or presentation 26-May-22 5:30pm GMT

Toronto-Dominion Bank Annual Shareholders Meeting Transcript – 2022-04-14 – US$ 54.00 – Edited Transcript of TD.TO shareholder or annual meeting 14-Apr-22 1:30pm GMT

Toronto-Dominion Bank at National Bank Financial Services Conference Transcript – 2022-03-22 – US$ 54.00 – Edited Transcript of TD.TO presentation 22-Mar-22 1:10pm GMT

Toronto-Dominion Bank at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript – 2022-03-09 – US$ 54.00 – Edited Transcript of TD.TO presentation 9-Mar-22 2:20pm GMT

Toronto-Dominion Bank Q1 2022 Earnings Call Transcript – 2022-03-03 – US$ 54.00 – Edited Transcript of TD.TO earnings conference call or presentation 3-Mar-22 6:30pm GMT

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MLA:
Thomson StreetEvents. "Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript" Aug 02, 2022. Alacra Store. May 03, 2024. <http://www.alacrastore.com/thomson-streetevents-transcripts/Toronto-Dominion-Bank-to-Expand-its-U-S-Investment-Banking-Business-and-Capabilities-with-Acquisition-of-Cowen-Inc-Call-T15284167>
  
APA:
Thomson StreetEvents. (2022). Toronto-Dominion Bank to Expand its U.S. Investment Banking Business and Capabilities with Acquisition of Cowen Inc Call Transcript Aug 02, 2022. New York, NY: Alacra Store. Retrieved May 03, 2024 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Toronto-Dominion-Bank-to-Expand-its-U-S-Investment-Banking-Business-and-Capabilities-with-Acquisition-of-Cowen-Inc-Call-T15284167>
  
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