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Toronto-Dominion Bank President and Chief Executive Officer Ed Clark attends the company's annual general meeting in Ottawa April 4, 2013.
Toronto-Dominion Bank President and Chief Executive Officer Ed Clark attends the company's annual general meeting in Ottawa April 4, 2013.
(Chris Wattie/REUTERS)

Streetwise

A decade on, TD’s success in the U.S. still too early to tell

This much we know: Ed Clark will forever be the man who turned Toronto-Dominion Bank into a U.S. banking force. We are only beginning to find out whether it was worth it.

When Mr. Clark took the bank south of the border with a big acquisition nearly a decade ago in what became his signature strategic move, he said he had two options. He could give the money he was generating in Canada back to investors or put it to work in the U.S. in a shareholder-friendly way.