National Bank completes acquisition of TD's Institutional Services Business

On November 12, 2013, after receipt of all required regulatory approvals, National Bank of Canada (National Bank) announced the completion of its acquisition of TD's institutional services business known as TD Waterhouse Institutional Services (TDWIS), for a purchase price of C$250 million.

TD Waterhouse Institutional Services is a leader in the provision of back-office solutions, including custody, trading, clearing, settlement and record keeping, for independent Canadian based registered portfolio managers and introducing brokers.

National Bank of Canada, headquartered in Montreal, is one of Canada's largest financial institutions, with C$187 billion in assets as of July 31, 2013.

Further information can be found on National Bank's website.