TD Bank and First Horizon officials to speak at Aug. 1 luncheon; tickets available
Top banking executives behind a $13.4 billion proposed merger between Toronto-dominion Bank Group and First Horizon Corp. will appear at a Memphis luncheon next week.
Leo Salom, president and CEO of TD Bank, and Bryan Jordan, chairman, president and CEO of First Horizon, are making a public appearance at a Positively Memphis luncheon at 11:30 a.m. Aug. 1 at the Holiday Inn University of Memphis. Tickets cost $40 in advance and $45 at the door.
Pat Halloran, Positively Memphis founder, said he’s excited because this event is the nonprofit’s first luncheon since the COVID-19 pandemic.
“I think they’re gonna find this is an acquisition or a merger that’s going to benefit them, because they’re now going to be aligned as customers and clients with a larger bank that hopefully will be able to provide more opportunities and more benefits,” Halloran said. “I’m not a banker, I don’t know exactly what the two speakers are going to say, but they are going to be able to say this was a good move and here are the reasons why.”
On May 31, First Horizon shareholders voted in favor of a deal that would see First Horizon acquired by TD.
The transaction is expected to close by the first quarter of TD’S 2023 fiscal year, which could be this November. The transaction will terminate, unless otherwise extended, if it does not close by Feb. 27, 2023.
If the transaction is completed, TD’S U.S. franchise will become a top six U.S. bank and significantly expand its Southeast presence.
In mid-june, a group of U.S. lawmakers sent a letter to a federal bank regulator asking them to block the merger between First Horizon and TD citing a May 4 report from Washington-based news outlet Capitol Forum regarding concerns about TD Bank Group’s “abusive practices.” In a statement to The Commercial Appeal, TD Bank denied the allegations.
The Positively Memphis Speakers Series’ goal is to drive awareness of positive, community and economic development projects throughout Memphis. The nonprofit launched the Feeding Hungry Children Campaign to fund and support safety net organizations whose missions feed hungry children and their families.
Those interested in purchasing tickets for the luncheon or more information on the event should visit positivelymemphis.com.
Omer Yusuf covers the Ford project in Haywood County, residential real estate, tourism and banking for The Commercial Appeal. He can be reached via email Omer.yusuf@commercialappeal.com or followed on Twitter @Omerayusuf.