TD Waterhouse UK unveils Canadian as new chief executive

Leeds-based TD Waterhouse UK has appointed Paul Whitehead as its new chief executive from September 2010, subject to regulatory approval.

Mr Whitehead succeeds Angus Rigby, who will be moving to Canada to take up the position of senior vice president, products and services at TD Wealth Management, a subsidiary of the TD Bank Financial Group (TDBFG).

Mr Rigby will remain chief executive of TD Waterhouse until the succession is completed.

TD Waterhouse, which was formed in 1997, employs 730 staff across the UK, including 420 in Leeds.

In a statement, the company said: "The leadership changes reflect TDBFG's focus on building for the future by developing its leaders and leveraging their expertise to advance business strategy over the long term.

"As CEO, Paul will have an important role in driving the expansion of TD Waterhouse – a key growth business for TD Wealth Management – which has grown significantly under Angus's leadership to become the UK's number one execution-only broker by retail market share."

TD Waterhouse – which is owned by Toronto Dominion Bank – moved into Yorkshire when it bought YorkSHARE, the brokerage side of the Yorkshire Building Society in 1999. The following year, it acquired Dealwise, the share-dealing arm of Skipton Building Society, for 82m.

Mr Whitehead brings with him 22 years' experience across the group's businesses in Canada, where he led TD Wealth Management's products and services team. He was involved in the development of key products and business strategies.

The statement added: "In their new roles, Angus and Paul will remain key members of the TD Wealth Management operating committee. Paul and his family will be relocating to the UK from Canada."

Mr Rigby became chief executive of TD Waterhouse in 2006, after being prom-oted from the role of chief operating officer. Yesterday, he paid tribute to the company's "fantastic team" in Yorkshire.

"We remain bullish about our growth prospects,'' he added. "I have got great memories of a great team here."

Earlier this year, Mr Rigby revealed that TD Waterhouse UK planned to hire more staff at its Leeds headquarters.