TD looks to join top ranks of institutional FX, hires Adam Steiner from rival RBC

Toronto Dominion Bank primes its FX operations with the recruitment of Adam Steiner as Head of Institutional Sales, representing the second senior-level appointment this month

The lack of presence within the global FX industry among Toronto’s financial institutions is more than compensated for by the city’s tradition of high-quality business ethics and stable financial markets economy.

Although North America’s third largest financial center is traditionally renowned for equities and stock trading, it does have a regional interbank FX presence.

Toronto Dominion Bank (NYSE:TD), one of Canada’s financial institutions whose prudent fiscal policy ensured that it did not suffer the financial crisis of 2008, has hired Adam Steiner as director of the bank’s institutional foreign exchange business.

Mr. Steiner brings substantial experience with him which is specific to Canada’s interbank sector, having held senior institutional FX sales positions at the Royal Bank of Canada (RBC) since 2007.

The appointment of Mr. Steiner represents the second senior-level addition to Toronto Dominion Bank’s FX enterprise within a month, as Michael Twaits was promoted recently to head the bank’s global FX operations, after a period of time during which he headed Toronto Dominion Bank’s FX and fixed income operations for Europe and the Asia Pacific regions.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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