Toronto-headquartered TD Securities will expand its Irish operation with a new office in Dublin.
Financial services firm TD Securities has announced that it is set to open a new office at One Molesworth Street in Dublin.
TD Securities, which is headquartered in Toronto in Canada, is a corporate and investment banking organisation working out of 15 different offices dotted around the globe. It provides a broad array of capital market products and services to government, corporate and institutional clients. It is part of the TD Banking Group, a large North American bank that oversees C$1.3trn in assets and more than 87,000 employees worldwide.
TD Securities has had a presence in Dublin for more than 20 years and hopes to grow its presence to up to 80 people. The new office will serve as the firm’s European Union epicentre for putting together bond deals and trading debt securities.
Speaking to The Irish Times, TD Securities chief executive Bob Dorrance explained that though the company had previously been winding down its Irish operation, Brexit – and the grim prospect of losing access to the EU market – inspired it to change tack.
“We took a view that we couldn’t wait around to see how Brexit turned out,” Dorrance explained.
Peter Walker, vice-chair and regional head for Europe and Asia Pacific at TD Securities, added: “With the natural growth of our business in Europe, we need to be where our clients are. Our longstanding history in Ireland and Dublin’s deep talent pool resulted in the city becoming a critical part of our European strategy.”
Minister for Finance Paschal Donohoe, TD, praised the turn of events, saying that the decision to expand these operations is a sign that Ireland has successfully established itself as a global financial services hub.
Donohoe continued: “TD Securities has been a part of the Irish financial landscape for over 20 years. It is very encouraging to see the continued expansion of the company in this way, and I look forward to witnessing its growth into the future.”