The Toronto Star reports in its Friday, May 24, edition that Toronto-Dominion Bank on Thursday posted wider profits and revenues in its second quarter. The Star's Madhavi Achary-Tom Yew writes that TD plans to buy back up to 12 million of its common shares over the coming year, or about 1.3 per cent of the total. Barclays Capital analyst John Aiken says: "TD starts off the Canadian bank earnings season, coming in pretty much in line with our thesis: A solid quarter but with little to get excited about in terms of a step up in valuation or a drastically improved outlook. ... Performance in the U.S. was solid, but we continue to see evidence of the slow-down in Canadian consumer lending." During the quarter, TD acquired the credit card assets of Target Corp. It said Thursday it plans to acquire United States asset manager Epoch Holding in a deal worth about $668 million (U.S.). Bharat Masrani, who currently heads TD's U.S. business, will take the helm as president and chief executive officer when Ed Clark retires in late 2014. Mr. Clark says TD is keeping a lid on expenses and continues to look for "permanent cost savings." He says the operating environment has changed "and we have changed with it."