TD Bank strikes Target deal; hiring 65
TD Bank will look to hire 65 at its Auburn call center during a job fair today, just a day after a separate announcement that the company struck a deal to acquire retail giant Target's U.S. credit card portfolio.
The seven-year deal, which awaits regulatory approval, would give TD Bank access to Target's credit portfolio, which has an estimated gross value of $5.9 billion.
Fitch Ratings kept the bank's credit rating neutral on the announcement, but said in a release it should help the bank in reaching $1.6 billion in adjusted earnings from its U.S. personal and commercial segments for 2013.
The press release states that the bank will provide funding, risk management policies and regulatory compliance for the portfolios while Target will handle all elements of operations and customer service.
Jimmy Hernandez, a spokesman for TD Bank, told Mainebiz that the hiring in Auburn and the Target credit card deal are unrelated.
Hernandez said the job fair today, from 3 to 7 p.m. at Auburn's Hilton Garden Inn, seeks to fill positions of employees that came on when the call center opened two years ago and have advanced to other positions.
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