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First Canadian Place at right and TD Bank Towers centre and left. File photos of downtown Toronto's financial district and area taken at night on Oct 27 2011.
First Canadian Place at right and TD Bank Towers centre and left. File photos of downtown Toronto's financial district and area taken at night on Oct 27 2011.
(Fred Lum/The Globe and Mail)

At TD Securities, making more while paying less

Tough times in the securities business? For shareholders of Toronto-Dominion Bank, not so much, as the bank’s results signal that firms that have the ability to do more than finance miners and handle mergers can still bring in a lot of cash.

For employees, it may be a bit of a different story. Even as TD’s revenue in the securities business rose, the bank cut expenses.