TD Bank Financial Transfers $78B of Assets to CIBC Mellon

On January 31, 2002, TD Bank Financial Group sold its third-party investment fund custody business and a majority of its internal custody business to CIBC Mellon, resulting in TD transferring custodial assets under administration of approximately $78 billion to CIBC Mellon.

Acting for CIBC Mellon were Blake, Cassels & Graydon LLP, together with Cameron Clifford, president, finance; Shawn Murphy, vice-president and general counsel; and Kevin Rowe and Ted Mason, in-house counsel, CIBC Mellon. The Blakes team consisted of Paul Belanger, Chris Javornik and Aaron Palmer (mergers and acquisitions), Jeremy Forgie (custody business and employment), Jeff Trossman, Allan Gelkopf and Greg Kanargelidis (tax) and Craig Thornburn (competition).

Acting for TD were Fasken Martineau DuMoulin LLP, together with Jean Estabrook, Adriana Groskopf and Alan Wheable, in-house counsel, TD Bank Financial Group. The Fasken Martineau team was headed by Stephen Erlichman and consisted of Peter Ascherl, Janne Duncan, David Coultice and John Beardwood (corporate), Ralph Nero (employment), David Vincent and Brent Duguid (pensions and benefits), Kathleen Hanly and David Robertson (tax), Robert Elliott (financial institutions) and Doug New and Angela Di Padova (competition).