TD Securities Cuts 10 Jobs in Equities Business in Toronto

Toronto-Dominion Bank (TD)’s TD Securities unit cut 10 jobs in its equities business in Toronto, reflecting a slowdown in stock trading.

“As a result of current market conditions and to achieve synergies across functions, TD Securities made the difficult but necessary decision to realign businesses within the equities team,” Laurrell Mohammed, a spokesman for the Toronto-based firm, said in a e-mail today. “The majority of those roles are non-management.”

The cuts at Canada’s second-largest bank were earlier reported in the Globe and Mail newspaper.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.net

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