TD Securities is a global investment banking and capital markets firm founded in 1987 as the securities arm of Toronto-Dominion Bank Group. The firm provides corporate and investment banking, global markets, transaction banking, and research services to corporate, government, and institutional clients worldwide. Headquartered in Toronto, TD Securities operates across North America, Europe, and Asia-Pacific through an integrated international platform. Over its history, TD Securities has expanded both organically and through acquisitions to strengthen sector coverage and geographic reach. Notable milestones include the acquisition of Newcrest Capital in 2000, which broadened Canadian capital markets capabilities, and the acquisition of Cowen in 2023, which significantly expanded the firm’s U.S. equities, research, and investment banking platform. Following the transaction, Cowen now operates as TD Cowen, a division of TD Securities. TD Securities functions as the wholesale banking arm of TD Bank Group, supporting debt and equity underwriting, mergers and acquisitions advisory, sales and trading, commodities, foreign exchange, and risk management solutions. The firm remains a wholly owned subsidiary of Toronto-Dominion Bank and continues to operate under the TD Securities brand globally.