TD Bank Expands AI Leadership with New Layer 6 Office in New York City
In a significant move to expand its artificial intelligence (AI) capabilities and reinforce its leadership in financial technology innovation, TD Bank Group has announced the forthcoming opening of a new Layer 6 office in New York City. This strategic expansion of Layer 6, TD’s proprietary AI research and development arm, signals the bank’s ongoing commitment to investing in next-generation technologies and advancing its U.S. presence.
The new Layer 6 office will be located at One Vanderbilt, a premier Manhattan address known for housing top financial and technology firms. This addition to TD’s growing North American technology footprint is expected to be fully operational by late 2025 and will initially employ approximately 20 experts in AI-related fields. These include data scientists, applied machine learning engineers, and specialists focused on the implementation of generative AI (GenAI) technologies.
Strategic Vision and Commitment to Innovation
TD’s expansion of Layer 6 into the United States is more than a geographic growth initiative—it is a strategic investment in the future of financial services. By situating a Layer 6 office in New York City, a global hub for finance and innovation, TD is positioning itself at the intersection of fintech, talent, and business opportunity.
Leo Salom, President and CEO of TD Bank, emphasized the significance of this milestone. “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 Salom. “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.”
The expansion is particularly timely given the exponential advancements in AI and its growing application across the banking sector. From customer engagement and fraud prevention to credit scoring and personalized financial advice, AI has become central to delivering efficient, secure, and customer-centric banking experiences.
The Origins and Growth of Layer 6
Founded in 2016 and acquired by TD in early 2018, Layer 6 has become a critical pillar of the bank’s data and analytics ecosystem. The organization originally gained prominence for its cutting-edge work in deep learning, and it quickly became one of Canada’s most respected AI research companies. Since its acquisition, Layer 6 has been integrated into TD’s broader strategy of embedding AI across its operations to support decision-making, personalize customer experiences, and manage risk more effectively.
Operating primarily out of the MaRS Discovery District in Toronto—a globally recognized innovation hub—Layer 6 has led several groundbreaking AI initiatives. These include the development of real-time personalized product recommendations, improved credit risk models, and smarter automation tools that streamline complex banking workflows.
With the new office in New York City, Layer 6 will be able to scale its operations, support U.S.-based business units more directly, and tap into the rich local talent pool in AI, machine learning, and data science.
GenAI and the Future of Financial Services
One of the most transformative technologies Layer 6 is currently investing in is generative AI. GenAI, which uses machine learning algorithms to generate new content such as text, images, code, and even synthetic data, is poised to revolutionize a wide range of industries—including banking.
TD’s leadership has made it clear that GenAI will be a cornerstone of its future strategy. Luke Gee, Chief Analytics and AI Officer at TD, commented on the potential of GenAI and the role Layer 6 will play in bringing it to life. “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 Gee. “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.”
By embedding GenAI capabilities within its operations, TD aims to not only enhance customer interactions—such as through intelligent chatbots, personalized marketing, and automated financial advice—but also optimize internal processes such as compliance monitoring, documentation, and data analysis.
Building a World-Class Team
The new office will serve as a base for a specialized team with expertise across several AI disciplines. According to TD, initial hires will include applied AI practitioners, data engineers, machine learning scientists, and GenAI specialists. These professionals will collaborate closely with business leaders across TD Bank’s U.S. operations to identify use cases and deploy solutions that create tangible value.
The decision to house the Layer 6 expansion at One Vanderbilt—a LEED-certified, state-of-the-art skyscraper—reflects TD’s intention to place its AI team at the epicenter of financial and technological innovation. Located adjacent to Grand Central Terminal, the location offers prime access to the financial district, startup ecosystems, and leading academic institutions such as Columbia University and NYU, which are known for their research in AI and computer science.
A Competitive Edge in a Data-Driven World
TD’s expansion of Layer 6 into the United States is also part of a broader industry trend in which major banks and financial services firms are racing to build in-house AI capabilities. With the rise of neobanks, fintech disruptors, and rapidly evolving consumer expectations, traditional banks must innovate to remain competitive.
In this context, TD’s early investment in Layer 6 and continued expansion is proving to be a key differentiator. Rather than relying solely on third-party vendors, TD has built a vertically integrated AI capability that can develop, test, and scale solutions tailored to its unique business and regulatory needs.
This approach not only accelerates time-to-market for new innovations but also ensures greater control over data privacy, model governance, and regulatory compliance—issues that are becoming increasingly important in the age of AI.
Looking Ahead
As financial institutions continue to navigate the complexities of digital transformation, TD Bank’s expansion of Layer 6 into New York City illustrates a long-term commitment to AI, innovation, and customer-centricity. With AI now viewed as a foundational technology for competitive advantage, the ability to attract top talent, develop proprietary tools, and operationalize innovation at scale has become paramount.
By combining the proven success of its Toronto-based Layer 6 operations with a new strategic presence in the United States, TD is reinforcing its position as a forward-thinking leader in financial services. Whether through real-time personalization, advanced risk management, or the transformative potential of GenAI, the work of Layer 6 is poised to shape the future of banking—both in North America and beyond.
For more updates on TD’s innovation journey and the expansion of Layer 6, visit td.com.
About TD Bank, America’s Most Convenient Bank®
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.
TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com/us.
