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Toronto-Dominion Bank TD-T is naming new co-heads for its investment banking business, appointments triggered by the surprise departure of a senior executive late last year.

Geoff Bertram and Parker Weil will now jointly run TD’s investment banking division, which falls under the bank’s securities dealer, TD Cowen. Mr. Bertram, a respected TD veteran, is based in Toronto, while Mr. Weil, who joined Cowen Inc. in 2018, is based in New York. TD purchased Cowen for US$1.3-billion in 2022.

TD tapped new leaders because its previous investment banking co-head, Tim Wiggan, was promoted to the group executive level as part of an executive shuffle in December. At the time, TD’s head of Canadian personal banking, Michael Rhodes, announced his surprise departure, so TD elevated Mr. Wiggan to head of wealth management and insurance, and moved the previous head of that division, Raymond Chun, to Canadian personal banking.

As part of the new capital markets changes, Larry Wieseneck, TD’s head of corporate and investment banking business globally, has rejigged the unit’s executive committee. In addition to Mr. Bertram and Mr. Weil’s new roles, Rod Davies, a long-time telecom banker based in Toronto, is now co-head of mergers and acquisitions alongside Michael Wildish, who remains co-head of M&A in New York.

Grant Miller, a Cowen veteran, also sits on the committee as head of capital markets, as does head of corporate banking Linda Lavin, head of global transaction banking Tamara Finch and head of credit Robyn Zeller.

Prior to the shuffle, TD had been beefing up its New York presence, particularly with coverage of financial institutions. In December, TD announced it had hired multiple capital markets professionals from Credit Suisse and named one of them, Jim Spencer, as co-head of financial institutions coverage alongside Mr. Bertram.

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