Canada's TD Bank has completed the sale of TD Wealth Institutional (UK) to New York-listed banking and technology payments provider FIS, following approval from the Financial Conduct Authority.

"FIS has acquired TD Wealth Institutional Holdings (UK) Limited, which is the holding company of TD Wealth Institutional. TD Wealth Institutional was a trading name of TDWCS, which has now rebranded to Platform Securities," TD Wealth Institutional said in a statement.

The financial terms of the deal were not disclosed in the statement.

In June last year, the firm announced it was extending its wealth management services.

“TD Wealth Institutional is a leading provider of value-added outsourced clearing and settlement services to meet the needs of institutional brokers, retail brokers and fund managers. TD Wealth Institutional supplies a complete business process infrastructure to handle portfolio management, order management, execution, clearing, custody administration and settlement,” according to the TD Wealth Institutional website.

FIS, meanwhile, serves more than 14,000 institutions in over 100 countries and is headquartered in Jacksonville, Florida, with a total workforce of more than 35,000.