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TD CEO Says Cowen Team Will Have ‘Meaningful and Large’ Role

Interest Rates May Drag On Canadian Banks As RBC Cuts Targets
Photographer: Christinne Muschi/Bloomberg
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Toronto-Dominion Bank Chief Executive Officer Bharat Masrani said the bank will soon announce a structure that gives managers at Cowen Inc., the US brokerage it’s buying for $1.3 billion, “a meaningful and large” role in the lender’s capital-markets business.

TD Securities CEO Riaz Ahmed will announce the management structure soon, Masrani said at a Bank of Nova Scotia financial-industry conference Wednesday.