TD Bank Group has today (8 July) completed the acquisition of the remaining interest in Natwest Stockbrokers from National Westminster Bank for an undisclosed sum.
The UK-based share dealing and investing subsidiary TD Direct Investing (Europe) had partnered with Natwest for the past 12 years to provide stockbroking services to Natwest and Royal Bank of Scotland customers under the Natwest Stockbrokers and RBS Direct Trader brands.
Leo Salom, executive vice president at TD Wealth said: “This purchase represents TD’s ongoing commitment to providing market-leading stockbroking and investment services, building a strong presence in the UK., and becoming a leading online broker in Europe.”
Moray McDonald, managing director for products, personal and business banking at RBS, added: “We believe this transaction will allow us to focus on the areas where we can deliver the best possible service.
“TD Direct Investing will provide Natwest Stockbrokers’ customers with enhanced access to a broader product and service offering.”
