It is with great pleasure that I announce the appointment of Barbara Palk, CFA as President, TD Asset Management Inc. In her new role, Barbara will be responsible for the growth and development of TD Asset Management’s investment management businesses. These include TD Quantitative Capital, TD Lancaster Investment Counsel, TD Harbour Capital, and the other investment management businesses of TD Asset Management.

This move recognizes Barbara’s contribution to the growth and prosperity of TD Asset Management, specifically TD Quantitative Capital. Under her leadership, TD Quantitative Capital has grown to be one of Canada’s largest investment managers, with over $54 billion in assets under management. Barbara will continue to be available to meet clients on a regular basis.

We are also delighted to announce the appointment of Timothy Thompson, CFA as the new Vice Chair of TD Quantitative Capital, reporting to Barbara Palk. Tim joined TD Quantitative Capital in 1992 and has an impressive array of experience in the investment management industry. Most recently, Tim has served as Managing Director of TD Quantitative Capital’s international equity team. In addition, we are pleased to announce that Kevin LeBlanc, CFA will become Managing Director, Head of Investments for TD Quantitative Capital. He was formerly Managing Director of the fixed income team.

We believe these management changes will help ensure that our high investment management and client service standards, which have been our hallmark, will continue to be delivered to you and all of our clients. We value our relationship with you and are pleased to make available to you the full depth and breadth of resources of the TD organization.

Please feel free to contact us should you have any questions.

Yours truly,
Rob MacLellan
Chairman
TD Asset Management Inc.