TD Bank Group says it has completed its acquisition of the remaining interest in NatWest Stockbrokers Limited from National Westminster Bank plc.
TD Direct Investing (Europe) Limited, a U.K.-based share dealing and investing subsidiary of TD, has 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.
“This purchase represents TD’s ongoing commitment to providing market-leading stockbroking and investment services, building a strong presence in the U.K., and becoming a leading online broker in Europe,” says Leo Salom, executive vice president, TD Wealth.
NatWest and TD Direct Investing say they are committed to working together to ensure a smooth transition. Following a 90-day transition period, consenting customers’ accounts will move to TD Direct Investing.