TD Bank Outsources Bank Machine and Point-of-sale Operations to HP

On July 5, 2004, The Toronto-Dominion Bank entered into a seven-year $420 million outsourcing agreement with Hewlett-Packard (Canada) Co. Pursuant to the agreement, HP will operate TD’s nationwide ABM infrastructure and TD’s point-of-sale transaction switching operations.

TD Bank Financial Group was represented in-house by Wilf Friedrich, Sandy Mundy and Suetyee Cheung, and by the Torys outsourcing team of Gabe Takach, Sherri Kreisman, Rebecca Brackley, Pema Tulotsang and Catherine Forbes (technology contracting), Christina Medland and Danelle Parkinson (employment), and Tim Rorabeck, Ron Nobrega and Jennifer Leach (tax).

Hewlett-Packard (Canada) Co. was represented in-house by Richard Pearse, senior counsel, and Jim Vibert, senior negotiator, with assistance from David Douglas Robertson of Fasken Martineau DuMoulin on tax matters.

HP subcontractor, INTRIA Items Inc., was represented by Donald Hicks of Gowling Lafleur Henderson. HP subcontractor, Phoenix Interactive Design, Inc., was represented by Fred Rose of Siskind, Cromarty, Ivey & Dowler. HP subcontractor, ACI Worldwide (Canada) Inc., was represented in-house by Joe Kenney, vice-president and general counsel. HP subcontractor, The Diebold Company of Canada Ltd., was represented by Bruce Soares and Brian Cich of Black, McCuskey, Souers & Arbaugh, with assistance from Bruce McWilliam of McMillan Binch and Ralph Jocke of Walker & Jocke.