Canada's Toronto-Dominion Bank said it would offload its entire 10.1% stake in U.S. financial services firm Charles Schwab for about $14.6 billion, as part of a strategic review undertaken following a landmark U.

TD Bank Group has announced its intent to sell its entire equity investment in The Charles Schwab Corporation. The sale will be executed through a registered offering and a share repurchase agreement with Schwab, while TD will maintain a business relationship through its Insured Deposit Account (IDA) Agreement.

About three weeks ago, we heard stirrings that Toronto-Dominion Bank (TSE:TD) had an eye toward getting out from under its stake in Charles