TD Bank abandons U.S. brand battle

Will drop well-known 'Commerce' name from U.S. operations, ending showdown with a 12-outlet competitor TARA PERKINS From Thursday's Globe and Mail Toronto-Dominion Bank will have to pursue its ambitious U.S. strategy without the help of the Commerce Bancorp name, a respected and quirky brand that had high value in its home market. The Canadian bank has agreed to choose a new name for its 1,100 U.S. branches after a showdown with a Massachusetts bank that has only 12 outlets. TD is abandoning the name TD Commerce Bank, the U.S. moniker it had chosen in the wake of its $8.5-billion (U.S.) acquisition of New Jersey-based Commerce Bancorp Inc. Commerce Bancorp made a name for itself over the last 35 years with a business model based on Burger King, projecting a fun attitude that differentiated it from its competitors. Rather than... [read full story]