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TD Direct rebrands Internaxx

TD Direct Investing (formerly known as TD Waterhouse) has renamed its Luxembourg division from Internaxx to TD Direct Investing International. Apart from standardising the brand, I imagine this is also part of breaking with the Fortis era. Internaxx began as a joint venture between TD Waterhouse and the Fortis-controlled Banque Générale du Luxembourg in 2001, with TDW buying out Fortis’ stake after the latter was nationalised in the 2008 crisis.

For now, this is purely a rebranding with no change to services, but I was told that several areas are likely to expand in 2013. The trading platform is likely to add a range of bonds to cater for clients’ growing interest in fixed income, the fund supermarket (which currently has around 400 funds) will be expanded and other services such as offshore insurance bond wrappers may be added to help with tax planning. However, additional equity markets are unlikely to be added – the current range apparently reflects what clients are asking for at present.

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