TD bank reinstates growth target, focuses on high-fee segments, cost cuts

Group 1 - TD Bank forecasts a return on equity of about 16% for the next four years, reinstating a growth target previously suspended due to a historic $3 billion fine for anti-money laundering failings [1][2] - The bank plans to focus on high fee businesses such as wholesale banking and wealth management, intending to add more wealth management advisors, U.S. retail financial advisors, and investment specialists [1] - TD Bank expects adjusted earnings per share to grow between 7% and 10% as part of its medium-term fiscal 2029 target [2] Group 2 - The bank hosted its first investor day since pleading guilty to multiple U.S. money laundering charges, including conspiracy to commit money laundering and failing to maintain an effective anti-money laundering program [2]