Toronto-Dominion Bank (TD.TO) has named Mike Pedersen to head its wealth management division, replacing Bill Hatanaka. Mike is responsible for TD’s wealth management businesses as well as the bank’s direct channels (online, phone, ATMs) and corporate shared services (IT, real estate, strategic sourcing, corporate security, and the project management office). In addition, Mike champions the bank’s environmental agenda.
Prior to joining TD in July 2007, Mike worked in London, England, where he was responsible for Barclays’ global private bank and two other international businesses.
“He’s committed to working closely with Mike to ensure an orderly transition of leadership,” said TD spokesman Wojtek Dabrowski.
Profit from TD’s wealth management division rose 23 percent year-over-year to C$117 million during the third quarter, excluding contributions from the bank’s 46 percent stake in TD Ameritrade (AMTD.O).
Headquartered in Toronto, Canada, with 74,000 employees in offices around the world, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group (TDBFG).
Mike graduated from the University of British Columbia in 1984 with a Bachelor of Commerce degree. He obtained his Masters of Industrial Relations from the University of Toronto in 1988.
He is a past chairman of the Canadian Bankers Association, has a long history of involvement with charitable organizations, and was a recipient of Canada’s Top 40 Under 40 award in 1998. Mike co-chairs the Greening Greater Toronto Task Force and is on the Board of the Toronto City Summit Alliance and the Toronto Region Research Alliance. He also chairs the financial services sector campaign for the United Way, and sits on the Advisory Committee of the Greening Canada Fund.