TD, Canada’s second-largest bank by assets, made it past the second round of bidding for Richardsom GMP Ltd., according to people familiar with the sale process.Fred Lum/The Globe and Mail
A former TD Securities veteran is returning home – both to Canada and to his former shop.
After nearly 20 years at the investment bank, where he rose to managing director in equity capital markets, John Prato got call in 2010 from the Prime Minister's Office, asking him to be consul-general of Canada in New York. The midtown Manhattan office employed roughly 100 people and had a role to promote Canada's objectives in the tri-state area of New York, New Jersey and Connecticut and beyond.
Mr. Prato accepted, and during his time in New York, he made the case for projects such as the Keystone XL pipeline.
This past April, the federal Liberals announced plans for major changes to myriad diplomatic postings, and Mr. Prato's was one of them. In July, the government appointed film industry executive Phyllis Yaffe as his replacement.
Mr. Prato didn't have to wait long to find work. He is returning to TD, according to an internal memo, as deputy chair and executive managing director. He starts back at his old shop on Wednesday.
Tim Kiladze