TD Bank Merges Units to Form New Commercial Bank

The new-and-improved banking structure is the latest move by TD to foster innovation from within.

Need to Know 

  • TD Bank has announced the launch of a new Commercial Banking unit, the result of a merger of three other existing units.
  • The new Commercial Bank will handle Asset Based Lending, Equipment Finance, Institutional Healthcare and Higher Education, and more, in addition to its existing middle-market services.
  • The merger is both a strategic move to compete with other banks as well as the latest move towards fostering innovation in the finance industry.


TD Bank has announced the launch of a new Commercial Bank, designed to drive growth and deliver a better customer experience. The new bank is a combination of its previous Commercial, Corporate, and Specialty Banking teams. 

The Commercial Banking team, which previously handled “middle-market, community and small business lending, along with deposits, treasury management and point-of-sale (POS) solutions” will now also take on “Asset Based Lending, Equipment Finance, Institutional Healthcare and Higher Education, Commercial Real Estate and Global Trade Finance” as part of the merger. 

“Our Commercial Bank and Corporate and Specialty Banking teams have repeatedly demonstrated that they can deliver strong results together in any economic cycle,” said Greg Braca, TD president and CEO, in a press release. “To continue their track record of success, we have merged these teams to build on their combined strengths and position them for long-term growth. Ultimately, it will help TD scale its core businesses and build the Commercial Bank of the future.”

Added Chris Giamo, head of Commercial Bank, “This is an exciting opportunity to drive growth in our commercial banking division through highly competitive service lines and market expertise while delivering more of TD Bank to our more than 9 million customers across commercial and consumer banking.” 

TD’s restructuring could be a move made in order to keep up with competitor banks. RBC, also a Canada-based bank, launched a technology and innovation banking group last year, and banking giant JPMorgan has created its own blockchain unit

TD is innovating in tech itself, too. The Toronto-based bank is using predictive AI to improve its customer experience. AI-based services include a more personalized app experience, Low Balance Protection to help customers manage their finances, a “Retirement Ready” tool, a direct investment tool, and more.