TD Securities Completes Acquisition of Albert Fried

 

TORONTO and NEW YORK– TD Securities has completed the acquisition of Albert Fried & Company (AF&Co), which was first announced in September. Terms were not disclosed.

Albert Fried is a NY-based broker dealer and TD Securities is part of Toronto’s TD Bank. The deal is part of TD Securities’ U.S growth strategy and will utilize Albert Fried’s expertise to target hedge fund business. Albert Fried was founded in 1919 as a specialist firm on the New York Stock Exchange.

“We are pleased to successfully complete this transaction,” said Glenn Gibson, SVP & Vice Chair, TD Securities U.S. “The acquisition of AF&Co’s services and capabilities will expand our offering, strengthen our U.S. business and accelerate our growth.”

The purchase of AF&Co’s services and capabilities includes self-clearing, securities lending and a prime brokerage technology platform in its final stages of development. TD Securities plans to complete the technology platform development with the aim to be fully operational in the prime brokerage business in 2017.

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