Ed Clark

Early life

Clark was born in Toronto, Ontario, in October of 1947, as William Edmund “Ed” Clark. He grew up to working class parents and learned the value of being an attentive student and working hard. His parents taught him well about commitment to a cause, something he would later put into practice in his own career and life.

He graduated from the University of Toronto in 1969 with a Bachelor of Arts degree. He earned his master’s degree and a doctorate in economics from Harvard University in 1971 and 1974 respectively.

Ed has a BA from the University of Toronto, and an MA and Doctorate in Economics from Harvard University. He has also received honorary degrees from Mount Allison University, Queen’s University, Western University, University of Toronto, York University, and Ryerson University.

Ed and his wife Fran make their home in Toronto. They have four grown children and eleven grandchildren. Since leaving TD Bank, he has worked as an adviser for Ontario Premier Kathleen Wynne and he also started the Vector Institute in Toronto, for which he is currently Chair.

Before banking, he held several different positions within the federal government. He helped develop the National Energy Program, for one. In 1982 he won the Outstanding Civil Servant of the Year award for his work of this nature.

Career

After completing his education, Clark began his career in the banking industry as a trainee at the Royal Bank of Canada. He quickly rose through the ranks, eventually becoming an executive vice president at the bank.

The former President and CEO of TD Bank Group had an incredibly successful career in the banking industry. Clark began his career in policy work for a public sector bank in the 1970s before moving to private sector leader TD Bank as a Corporate Development Manager in 1982.

Clark left the Royal Bank to join TD Bank as the head of its wholesale banking division. Over the next 18 years, he played an instrumental role in growing the bank’s business and building its reputation as one of Canada’s most successful financial institutions.

During his time at TD Bank he held many roles from Managing Director to Executive VP & Payment Services. Before eventually being appointed CEO, he was a visionary leader that helped the bank rise to success, even when other banks were suffering from the economy.

In 2002, Clark was named President and CEO of TD Bank, succeeding Clark Alexander. Under his leadership, the bank’s assets grew from $170 billion to $837 billion. He also led the bank to make several successful acquisitions, including the purchase of Banknorth Group in the U.S.

Ed Clark has done a great deal to increase TD Bank’s profits, leading them to be ranked as one of the top five largest banks in North America.

Throughout his tenure as CEO, Clark was known for his focus on customer service and his commitment to corporate social responsibility. Under his leadership, TD Bank established itself as one of the most customer-friendly banks in Canada, and became a leader in environmental sustainability and community involvement.

He also did a lot of work for the LGBTQ community and to embrace LBGTQ rights within the workplace. An early adopter of Pride publicly in the 1990s, he’s worked to help change corporate culture, from the inside out. He once said, “An enlightened approach to lesbian, gay, bisexual, and transgender people is good for the bottom line, but it’s also the right thing to do.”

In addition to his role at TD Bank, Clark has also been active in a number of other organizations. He is a member of the Board of Directors of the Bank of Montreal and has served on the boards of several other companies and organizations, including the Canadian Council of Chief Executives and the Toronto Symphony Orchestra.

Clark retired from TD Bank in 2014, after 12 years as CEO, and was succeeded by Bharat Masrani. He remains active in the business and philanthropic communities and is highly respected for his contributions to the Canadian banking industry.

After retirement, he also inherited a very successful business for Toronto-Dominion and continues to contribute to the economic and charity sectors through a variety of high-profile initiatives. Ed continues to advocate for those less fortunate and help drive positive change in the finance industry and beyond, giving back generously with his experiences, knowledge, and time.

Net Worth

Ed Clark’s net worth is currently estimated to be around $100 million dollars.

Achievement

Clark has also been recognized numerous times for his accomplishments with financial awards and community service awards. He has undeniably left an impressive mark on the financial world and continues to inspire others through his hard work and dedication.

Clark has been awarded many honors, including:

• the Order of Canada
• the Order of Ontario
• inducted into the Canadian Business Hall of Fame
• member of the Canadian Banking Hall of Fame
• Barron’s Magazine world’s 30 best CEOS in 2016
• elected to the Board of Trustees of the Brookings Institute in 2014

Throughout his career, Clark has been a strong advocate for the importance of corporate social responsibility and environmental sustainability. He has also been a vocal supporter of diversity and inclusion in the workplace and has been recognized for his efforts to promote these values at TD Bank.