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TD Bank to sell European direct investing business to Interactive Investor

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TD Bank Group is to sell its European direct investing business to Interactive Investor, through the sale of the shares of TD Wealth Holdings (UK) and TD Bank International (Luxembourg) (collectively TDDI), subject to regulatory approval.  

There will be no immediate change for the customers of either company.
 
"We're very pleased to have reached this agreement with Interactive Investor, a highly regarded team who will ensure that TDDI customers continue to have access to excellent products, services and technology to meet their investing needs for the long term," says Leo Salom, executive vice president, TD Wealth, TD Bank Group. 
 
"With this transaction, we will remain focused on our core areas of growth in North America, where we are a top-10 financial institution with an ambitious agenda to expand our wealth franchise, which currently serves 2.2 million clients and has more than USD700 billion in client assets across Canada and the US."

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