Waterhouse Investor Services, the New York-based brokerage unit of Toronto-Dominion Bank, will open its first New York retail branch in December.

The office will be in Manhattan at the Waldorf-Astoria hotel on Park Avenue, said John Chapel, president of Waterhouse Securities. He said Waterhouse chose the spot because it is "high-profile and visible." The walk-in branch will feature a stock ticker and news services, he said.

The location will also include space for Waterhouse Institutional Services, the unit to be formed when Waterhouse merges its investment advisory unit with Jack White & Co. on Jan. 4. Waterhouse acquired Jack White in June for $100 million.

-Niamh Ring

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