TD Securities-New Leadership

RNS Number:1465E
Toronto-Dominion Bank
21 November 2002



TD Bank Financial Group appoints new leadership team for TD Securities

Toronto, November 21, 2002 - TD Bank Financial Group today announced the
appointment of Robert Dorrance as the Chairman and CEO of TD Securities and
Michael MacBain as the President of TD Securities, following the decision of
Donald A. Wright to step down as Chairman and CEO of TD Securities.

"During his eight years with TD Securities, Don built the wholesale business
into a leading force in the securities industry. He recruited a talented team
that, under his leadership, have earned a well deserved reputation as
client-focussed professionals," said A. Charles Baillie, Chairman and CEO of TD
Bank Financial Group.

"Having worked with Don over the past few months, I appreciate the support that
he has provided me as we have worked together to develop and implement a revised
strategy for TD Securities. With a revised strategy now in place, I understand
Don's decision to seek other challenges outside of TD Bank Financial Group,"
said Ed Clark President and COO and CEO-designate of TDBFG.

Under his new title of Chairman and CEO of TD Securities, Bob Dorrance will
continue to lead the institutional equities and investment banking activities,
as well as taking on responsibility for private equity. As President of TD
Securities, Mike MacBain will be responsible for global foreign exchange and
money markets in addition to leadership for global debt capital markets. Both
Bob and Mike will report directly to Ed Clark.

About TD Bank Financial Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank
Financial Group. In Canada and around the world, TD Bank Financial Group serves
more than 13 million customers in three key businesses: personal and commercial
banking including TD Canada Trust; wealth management including the global
operations of TD Waterhouse; and a leading wholesale bank, TD Securities,
operating in over 20 locations in key financial centres around the globe. TD
Bank Financial Group also ranks among the world's leading on-line financial
services firms, with more than 4.5 million on-line customers. TD Bank Financial
Group had CDN$309.6 billion in assets, as at July 31, 2002. The Toronto-Dominion
Bank trades on the Toronto and New York Stock Exchanges under the symbol "TD".

                                      -30-

For more information:

Dianne Salt

TDBFG Media Relations

416-308-6807


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

BOAKFLFLLFBFFBQ