TD Securities Names New President, Investment Banking
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Dan Charney, currently head of global markets, was named president of TD Securities while retaining his trading oversight and now also running global research and senior relationship management, reporting to Tim Wiggan.
- Geoff Bertram, a two-decade TD veteran who rose through equity capital markets and covered financial institutions, was promoted to head of corporate and investment banking, succeeding Larry Wieseneck.
- Wieseneck steps into a newly created chairman role at TD Securities, providing counsel on strategy and key client relationships; Lisa Thomas was named head of global research.
- TD Securities posted a 14.5% return on equity in Q2 — the first time since the 2023 Cowen acquisition it matched or exceeded the bank's overall ROE, Wiggan told the Globe.
- Wiggan framed the leadership changes as "orderly change" aimed at cross-selling more services to existing clients for better margins, and tied the moves to goals set at a recent investor day.
- The new lineup blends one TD lifer (Bertram) with two Cowen alumni (Charney and Thomas), reflecting the cultural-integration challenge that intensified after TD's U.S. money-laundering issues triggered a historic DOJ fine and a leadership and board overhaul.
Why it matters: TD Securities hit a 14.5% Q2 ROE — the first quarter since the 2023 Cowen acquisition that it matched or exceeded the bank's overall return — suggesting the expensive growth push is finally paying off. The leadership blend of one TD lifer with two Cowen alumni is a live test of whether the cultural integration can sustain that performance.
