TD Bank Group names new board chair

TD Bank Group names new board chair

July 02, 2025 - TD Bank Group has announced the appointment of a new chairperson for its board of directors. The appointment follows a strategic relationship with Fiserv, a leading global provider of payments and financial services technology, aimed at elevating the client experience within TD Merchant Solutions in Canada [2].

The new chairperson, Barbara Hooper, Group Head of Canadian Business Banking at TD Bank Group, will take over from the outgoing chair, who has served the bank for several years. Hooper's appointment comes at a critical time for TD Bank Group as it seeks to enhance its merchant solutions offerings and improve financial performance through a strategic partnership with Fiserv [2].

The strategic relationship with Fiserv involves the integration of Fiserv's advanced Clover product offering, payment processing, and servicing into TD's merchant solutions portfolio. This move is expected to simplify TD's operating model and reduce costs, thereby improving overall financial performance [2].

As part of this strategic relationship, Fiserv will acquire a part of TD's merchant processing business in Canada, transferring about 3,400 relationships and 30,000 locations to its system and Clover platform. The financial terms of this acquisition were not disclosed [1].

Barbara Hooper expressed her enthusiasm about the partnership, stating, "At TD, we are focused on helping our business clients succeed. This strategic relationship with Fiserv will directly benefit our clients by combining Clover, Fiserv's innovative merchant product offering, with our business banking solutions, providing our merchants with the capability to leverage the latest technology to process payments and grow" [1].

Takis Georgakopoulos, Chief Operating Officer at Fiserv, also highlighted the significance of this partnership, saying, "We are pleased to expand Clover’s reach and increase our commitment to Canada through this partnership with TD. This agreement reinforces our strong relationship with TD and underscores our shared commitment to delivering value to clients. I look forward to welcoming all businesses to our platform" [1].

The acquisition and partnership are expected to close later this year, further strengthening TD's position in the Canadian market and enhancing its offerings for small and medium-sized businesses [1].

References:
[1] https://pulse2.com/fiserv-signs-strategic-managed-services-deal-with-td-bank/
[2] https://td.mediaroom.com/2025-07-23-TD-Announces-Strategic-Relationship-with-Fiserv-to-Enhance-TD-Merchant-Solutions-Offering-in-Canada