TD Centre office towers in Toronto.Fred Lum/The Globe and Mail
TD Securities is adding another respected Bay Street veteran to its investment banking ranks.
David Skurka is joining the dealer in May as deputy chair of investment banking, TD announced internally Wednesday. He spent the last 14 years at Bank of Nova Scotia, where he ran the the financial institutions group and later became investment banking head.
The hire is TD's second high profile addition in roughly a year. The bank recently brought on Rick McCreary, a former CIBC World Markets mining banker and Barrick Gold Corp. executive, as deputy chair of its securities division.
Such moves are designed to help with client coverage, and to assist with strategy planning. Having worked at a top gold miner, for instance, Mr. McCreary offers internal advice on the best way to pitch clients.
TD investment banking head Pat Meneley said the bank doesn't have a specific strategy to hire people of this magnitude, noting that "it's more opportunistic." But he added TD is interested in people with strong reputations who can "augment our existing team." "That's what David's hire is, and that's what Rick's hire was a year ago."
Mr. Skurka left Scotiabank last fall in a restructuring that saw numerous senior leaders depart, including real estate head Stephen Sender and vice-chair Stephen MacCulloch.
Prior to the new hire, Mr. Meneley wasn't personally close with Mr. Skurka, but "I've known of David forever." "Frankly, he's someone who's tough to compete against," he added.
Although Mr. Skurka has a rich background in financial institutions, the industry group will continue to be run by Jonathan Broer at TD. Mr. Skurka will assist with this sector where he can, but he will also tap his client relationships across industries.
Tim Kiladze