NEW YORK, Jan. 17 /PRNewswire/ -- TD Waterhouse Group, Inc.
(NYSE: TWE; TSE), the global online financial services firm, reports the
following monthly activity for the period ended December 31, 2000:
* New accounts opened totaled 51,900. This is down slightly, 5%, from
November 2000 and compares to 88,300 in December 1999.
* Total trades per day averaged 160,200. This is a 17% increase from
November 2000 and compares to 183,000 in December 1999.
* Total customer assets were $142 billion as of December 31st, the same
as November 30, 2000, and 5% lower than December 1999.
Steve McDonald, Chief Executive Officer noted, "Given the continuing
difficult market conditions, TD Waterhouse has put several cost containment
measures into place, such as deferring discretionary spending and managing our
hiring carefully. However, TD Waterhouse remains committed to expenditures for
both technology and marketing, as both are necessary to long-term success."
TD Waterhouse Group, Inc., (NYSE: TWE; TSE), also known as "TD
Waterhouse," provides investors with a broad range of brokerage, mutual fund,
banking and other consumer financial products on an integrated basis.
Worldwide, TD Waterhouse currently services 4.4 million customer accounts in
the United States, Canada, the United Kingdom, Australia, and Hong Kong. The
firm also services customers in Japan and India through joint ventures in
those countries. TD Waterhouse can be found on the Internet at
http://www.tdwaterhouse.com and on America Online at Keyword: TD Waterhouse.
TD Waterhouse's majority owner is TD Bank Financial Group
(NYSE: TWE; TSE), which holds 88.6% of the outstanding share capital of TD
Waterhouse. Headquartered in Toronto, Canada, with offices around the world,
TD Bank Financial Group offers a full range of financial products and services
to approximately 13 million customers worldwide. On February 1, 2000, TD Bank
Financial Group announced the completion of its CDN$8 billion acquisition of
CT Financial Services Inc., catapulting it from the fifth largest Canadian
bank to a leader in most of its retail businesses.
This release may contain forward-looking statements, including statements
with respect to our operating goals. These statements, which reflect
management's current beliefs and expectations, are subject to risks and
uncertainties that may cause actual results to differ materially from these
statements. Such risks and uncertainties include, but are not limited to,
market volatility, decreased trading activity, the development and acceptance
of new products and services, system delays and failures, competition, and
general economic conditions. For a discussion of risks and uncertainties that
may cause actual results to differ from those reflected in such forward-
looking statements, please refer to our filings with the Securities and
Exchange Commission, including the information included under the heading
"Item 1. Business-Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended October 31, 1999.
SOURCE TD Waterhouse Group, Inc.
 back to top
Related links:
http://www.tdwaterhouse.com
Company News On-Call: http://www.prnewswire.com or
fax, 201-432-0504, ext. 959635
CONTACT:
Media - Melissa Gitter, First Vice President,
Public Affairs, 212-806-3522, or Investors - Kevin Sterns,
Executive Vice President & Chief Financial Officer, 212-908-7301,
both of TD Waterhouse Group
|
