TD Announces Opening of New Layer 6 Office in New York City

The expansion of TDs AI research and development center will power enhanced customer experiences for U.S. customers and colleagues

TORONTO, April 22, 2025 /CNW/ - As AI continues to transform how businesses operate, TD Bank Group ("TD" or the "Bank") today announced it will open a new Layer 6 office in New York City.

As TD's AI research and development center, Layer 6 has driven TD's ability to deploy advanced Machine Learning solutions since it was acquired by TD in 2018. Currently operating from its head office in Toronto's MARS Innovation District, the new Layer 6 office will now grow to more closely support TD Bank, America's Most Convenient Bank^®, as well as TD's other U.S. based operations. It will also allow TD to take advantage of an expanded pool of world-class talent and further cement its leadership and competitive advantage driving innovation in banking through AI. The Layer 6 office will formally open later in 2025 with a mixture of an initial 20 data scientists, applied machine learning scientists, GenAI implementation specialists, and others, who will sit at TD's New York office, One Vanderbilt.

"Our U.S. expansion of Layer 6 underscores our commitment to deepening our presence in New York City and investing in the future of innovation," said Leo Salom, President and CEO of TD Bank. "The new Layer 6 office establishes a strong foundation for advancing our GenAI capabilities and bringing critical expertise and delivery in-house. It represents an exciting step forward for TD, our colleagues, our customers, and the communities we serve. We look forward to growing this operation to support increasing business demand across the U.S."

TD continues to deploy and scale AI technology to meet both growing customer expectations for personalization, and the business's need to streamline process execution.

"Our commitment to being a leader in the AI space puts TD at the forefront of banking innovation, and Layer 6 is critical to our ability to deliver that innovation for our customers," said Luke Gee, Chief Analytics & AI Officer at TD. "With recent advances in areas like Generative AI, we continue to leverage the potential of this game-changing technology through the work of colleagues across the Bank, with Layer 6 continually driving thought leadership and breaking new ground. We are excited to announce the next major step in this journey."

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 17 million active online and mobile customers. TD had $2.06 trillion in assets on October 31, 2024. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

SOURCE TD Bank Group