TD Hires BMO’s Soal as SRT Boom Prompts Talent Merry-Go-Round

Toronto-Dominion Bank hired a significant risk transfer banker from rival Bank of Montreal, the latest move to poach talent in a sector growing at a double-digit pace.

TD said Geoffrey Soal is joining as a managing director in charge of SRT origination, having been a director at BMO’s risk & capital solutions desk. Both Canadian lenders have used SRTs to pass on some of the credit risk of loans to private investors, part of a wave of deals on both sides of the Atlantic.