Toronto Dominion Bank to buy U.S. broker-dealer Albert Fried

Tue Sep 13, 2016 9:54am EDT
 
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TORONTO, Sept 13 (Reuters) - Toronto-Dominion Bank's capital markets division said on Tuesday it plans to acquire Albert Fried & Co, a New York-based broker-dealer, to expand its presence in the U.S. prime brokerage sector.

The move comes as TD Securities has been boosting its reach in the United States in recent years by adding people and increasing coverage of sectors.

A 97-year old firm that was founded after World War I, Albert Fried offers services in prime brokerage, trading and commission management.

(Reporting by John Tilak; Editing by Will Dunham)