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Waterhouse – A Family Commitment to Education

Lawrence M. Waterhouse, Jr., ’59 A&S, is best identified as founder of Waterhouse Investor Services, Inc., the precursor to TD Waterhouse Investor Services and later TD AMERITRADE.

The Waterhouse name is synonymous with dedication to education. In 1996, Mr. Waterhouse established the Waterhouse Family Foundation, Inc., an independent foundation that donates substantial funds to education. Mr. Waterhouse initially served as president of the foundation, alongside his daughters Christine and Jennifer, and triplet sons Lawrence III, Kevin and Patrick, as directors of the foundation.

Nearly fifteen years later, Mr. Waterhouse combined his commitment to service and education and his dedication to his alma mater by generously donating $8 million to the University, $3 million of which was devoted to the creation of the Waterhouse Family Institute for the Study of Communication and Society (WFI). Established in 2010, the WFI is a living tribute to Mr. Waterhouse's generosity, passion, and vision. By endowing the WFI, making possible its activities connecting communication to social justice, Mr. Waterhouse's gift continues to impact the lives of students, scholars, and communities in the U.S. and around the world.

The Waterhouse Family

From his graduation until his passing in January 2020, Mr. Waterhouse remained actively involved with Villanova. He received an Honorary Doctor of Laws degree from the University in 2004, and was a member of Villanova’s 1842 Heritage Society and President’s Council: Transforming Minds and Hearts. His love for Villanova was passed down to his entire family. Mr. Waterhouse’s grandson Scott Swindell-Waterhouse, ‘08 VSB, and Jennifer Gentile Waterhouse, ‘92 A&S, the wife of Mr. Waterhouse’s son Lawrence III, are also Villanova graduates. His grandsons John Waterhouse and Christian Waterhouse are currently Villanova students.

After receiving his bachelor’s degree from Villanova in 1959, Mr. Waterhouse pursued graduate studies at New York University and served in the U.S. Marine Corps, reaching the rank of Captain. He later worked for Reynolds Securities and also Chemical Bank, where he was a vice president.

In 1979, he founded Waterhouse Investor Services, Inc., which was acquired by Toronto Dominion Bank in 1996, taking the name TD Waterhouse. Subsequently it was merged with another large brokerage firm, Ameritrade. Today it is known as TD Ameritrade in the United States and as TD Waterhouse in Canada. Its principal activity is global online financial services and it is one of North America’s largest online brokerages with 6.3 million clients and $300 billion in client assets.

Mr. Waterhouse served as the company’s president from its creation until 1995. In 1996, when the company was acquired by Toronto Dominion Bank, Mr. Waterhouse remained chairman and was named chief executive officer. He also served as chairman of TD Waterhouse Bank, N.A. from 1994 to 2000 and was a director of the parent company TD Waterhouse Group, Inc.

Mr. Waterhouse passed away on January 24, 2020. He will be missed, but his legacy will always live on at Villanova, through the mission and activities of the WFI.

Lawrence & Christine Waterhouse

Lawrence M. Waterhouse, Jr., ’59 A&S, and his wife, Christine