NEW YORK, March 9 /PRNewswire/ -- TD Waterhouse Group, Inc., the global
online financial services firm (NYSE: TWE; TSE), reports the following monthly
activity for the period ended February 28, 2001:
-- New accounts opened totaled 54,700. This is up 3%, from January 2001
and compares to 137,000 in February 2000.
-- Total trades per day averaged 135,800. This is a 10% decrease from
January 2001 and compares to 243,800 in February 2000.
-- Total customer assets were $136 billion as of February 28th, down
$18 billion from January 31, 2001, and 19% lower than February 2000.
Steve McDonald, Chief Executive Officer noted, "Difficult market
conditions have affected our customers and our business, and they may continue
to do so as the year continues. However, we remain focused on becoming the
global online financial services powerhouse and becoming our customers'
primary financial services relationship. While we work toward our goals, we
will continue to manage expenses carefully. Given current market conditions,
we will defer discretionary spending, reduce our full time employee count
through the normal attrition that is part of our business, and prioritize
projects that have shorter payback periods."
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 4.5 million customer accounts in
the United States, Canada, the United Kingdom, Australia, and Hong Kong. The
firm also has joint ventures in Japan, Luxembourg and India to serve investors
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 (NYSE: TD; 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
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, 2000.
SOURCE TD Waterhouse Group, Inc.
 back to top
Related links:
http://www.tdwaterhouse.com
Company News On-Call:
http://www.prnewswire.com/comp/959635.html or fax,
800-758-5804, 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, Inc.
|
